Proved positive by the crazy issuance of debt by Yellen & her cronies -- $1 trillion every 100 days. How is the west going to recover from this crazy MMT clown world?
RSI is showing divergence from previous peak, so I would say we are close to the top. But then again this is bitcoin.
So bitcoin aka ponzi coin is the single best example of the greater fool theory. Literally worth absolutely nothing in reality, but is pumping to the moon. As we've seen in equities, they can pump it forever so why would this be any different. Everything is mooning with zero risk. That's the world we live it. Everyone is getting rich.
Same looking chart as a stock would. Drop today, then of course it gets saved and brought back above the 5EMA and probably will V right back again.
Nah this isn't the big move...it could meander back up to the 70's but back down to the 40's from there until fall...the horsepower is gone for now imo. I mean that could be one big ass pin to trigger all the margin calls from the over leveraged...that was a 10k drop.
Drops like this I believe scare more people away than actually create new buyers ....and those now who bought at 64k 65k 66k 67k 68k will most likely sell as soon as bitcoin starts to trade at those levels again so they recoup all losses So once again I will repeat, bitcoin will never ever be used as a main source for purchasing goods and services. Its way too volatile as you can now see it moving thousands of dollars a day!