Monday, February 5, 2018

Bitcoin Is Falling Because of TIME, nothing more

News
Whatever. I only comment not because I respect Zerohedge's ability to read the tape but rather convenience of the Twitter feed. Awhile back I suggested/warned the governments would be entering the crypto space and it wouldn't be friendly. China's latest announcement represents the early stages of that push-back but not necessarily the end of the rally. Cryptos were hit not because anything government did (at least yet) but rather because TIME. Government likely underestimate the drive into cryptos as a means of hedging loss of confidence in global leadership. It's coming, and its highly likely that the Bitcoin's of the world will reenter upside alignment when defensive (loss of confidence) capital flows reemerge. Smart money, however, recognize the threat of completely shutting down these conduits as criminal when the shit hits the fan. Traders that buy without an exit plan ALWAYS fail!

Headline: Bitcoin Bloodbath Builds - Now Among Biggest Crashes Ever

After surging to $20,000 less than three weeks ago, Bitcoin tumbled below $8,000 again overnight following a report from Chinese media that China will block all websites related to cryptocurrency trading and initial coin offerings (ICOs) – including foreign platforms – in a bid to finally quash the market completely, according to Sina.


more

----------------------------------

Market-driven money flow, trend, and intermarket analysis is provided by an Insights key.