If i was a Whale...
I still agree with the idea of bullish short term action from BTC working off the FIB. We are nearing the medium term target - either midnight CET or tomorrow morning. With the recent liquidity efforts around the $8,100 mark I think it is going to try crash through the resistance and spook investors all lining up to buy in at $7,600, lets hope it holds.
However, I don't think BTC will moon (and here comes some flaky conspiracy theory). I think it will sit around 9/10k for a while or continue in its Bearish trajectory. Why?
1. There is one bit of news out there that I have begun to take a deeper look at. I'm currently trying to work out the impact of Binance Coin on BTC - what is the value of holding BTC if I can buy ALTs with FIAT? Also, why is Coinbase so desperate to add ALTs with the ERC20? Is this going to be the ultimate FUD for Bitcoin? Yes there will be those who will continue to hold BTC as they have done for years but those new to crypto are focused on new businesses. ALT summer would hit us and as those coins surge in marketcap, bigger players may get involved, pushing up the price. Any thoughts?
2. Whales like to eat fish - not enough fish in these high seas/prices. I'd be with them on this, I'd like to go up but at the same time, a drop further just means more upside for buyers in the future.
... I've probably got too much time on my hands watching BTC get to the end of this trend... but If I was a Whale, I'd sell.
However, I don't think BTC will moon (and here comes some flaky conspiracy theory). I think it will sit around 9/10k for a while or continue in its Bearish trajectory. Why?
1. There is one bit of news out there that I have begun to take a deeper look at. I'm currently trying to work out the impact of Binance Coin on BTC - what is the value of holding BTC if I can buy ALTs with FIAT? Also, why is Coinbase so desperate to add ALTs with the ERC20? Is this going to be the ultimate FUD for Bitcoin? Yes there will be those who will continue to hold BTC as they have done for years but those new to crypto are focused on new businesses. ALT summer would hit us and as those coins surge in marketcap, bigger players may get involved, pushing up the price. Any thoughts?
2. Whales like to eat fish - not enough fish in these high seas/prices. I'd be with them on this, I'd like to go up but at the same time, a drop further just means more upside for buyers in the future.
... I've probably got too much time on my hands watching BTC get to the end of this trend... but If I was a Whale, I'd sell.
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