Quote:
Originally Posted by EliteWebmaster
experts cannot give you a legitimate reason why the currency has taken a tumble.
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yes but the oracle can...
it is mostly a combination of 2 factors...
the first was the obvious skyrocket in price...smart people cash out
the second and more important reason was "institutional money" or larger investors got in around summer to take the money from the "hodlers" with a pump and dump...
the drop in price started around the 20th of december...trump announced the tax cuts around this period and the writing was on the wall: US stocks will make a short term gain and are a safe bet...so they started cashing out while the sheep were like "BTC will hit 50K in january"
the market is designed to take money from the crowds and distribute it to the few...if you do what everybody else is doing you will get what everybody else is getting = fucked...unless you invest in something that has actual intrinsic value, then this will go up and down and up again...
at some point bitcoin will become too cheap to ignore and people will buy in again...8.5K just got breached and the europeans just woke up and they are well known bears...I see a possible 7K by monday but I can not be sure it is so hard to call it right now...sub 400 billion total crypto market cap at the moment...
sweet sweet deals on shitcoins...I want to die for not knowing about digixDAO earlier...mother fucker is up 60%+ in a week...I am not cashing out next time if the DAO keeps kicking ass...