This is a tactical trade of self loathing of investing in Bitcoin, atleast you profited though which is the good thing. However the market itself looks like its working its way up to to 500-600$ within the next few months
I wouldn't take anything for granted with Bitcoin just as I wouldn't be shocked by nothing either.
Bitcoin could shoot up to over $600, and indeed up to around $800, which is my ultimate upside target as it happens.
But it wouldn't surprise me at all if it tanked back down to $300 before it gets above $500....and actually, if 'they' were to drive Bitcoin down there, then that would mean that they are getting to sell off lots of Bitcoin up in the mid $400s, which they can then buy back from the public down in the low $300s. To be quite honest, from what I think I know about the Bitcoin market (basically a cash cow for a bunch of Chinese sharks and a few other entities), Bitcoin taking one last tank down to incite a final bout of despair selling would be far more likely than not......I mean, everyone thinks Bitcoin is about to break up from this symmetrical triangle....how likely is it that everyone is right?
I have no belief in Bitcoin for what it is, and certainly not for whose hands it is in......but the prices that you can buy and sell Bitcoin for are real (whilst Bitcoin lasts) and those prices are certainly volatile.
My only interest in Bitcoin is in taking money out of the market. Other than that, I would gladly see Bitcoin die tomorrow.....let a better, improved, less cornered, less bloated, more decentralised, more robust, more practical, and more anonymous crypto take it's place.
