Poor BTC Bulls

Speculators are still artificially propping price up, hoarders have been selling as prospects for further gains have been dashed, volatility has dropped which also decreases attractiveness for speculators. As these leave the market for better returns elsewhere, consumers will need to step up and buy.. However currently consumer demand is far from widespread.. And won't be for the foreseeable future. This will continue to bring price down in a slow grind.

Expect price to continue falling within the regression channel on the daily time frame.

See previous BTC forecast.