Why do people continue to post in a thread that is irrelevant?
The fall is much bigger than 40-50 USD.
Buyers will lose and Holders will continue to lose
/thread
I disagree that it is "much" bigger then 40-50. The price previously was in the mid 570-580 level and is trading around 511 now so the fall is closer to 70-80, but regardless of the amount it is still small when compared to other price drops of bitcoin in terms of percentages.
You are right, I thought OP started it around the $600 level. But there is more to come. This market is beaten down right now. The weakness is getting stronger
Have you seen how the market is balanced right now? Bid walls close to the price are much higher than the sell walls in front of it. Of course walls can be removed and flash changes in Bitcoin value do occur, but don't you agree the market will move up with a much larger probability than that it will move down?
I'm not one of those saying it's going to $0. I also think that upside potential is larger than the downside. But it's just that... "potential". The probability is that we are going down first.
The depth means nothing at all. There are more coins to sell than bids in the order books as well as there is more money to buy than asks in the order books.
