$bitcoin or $BTCUSD has been a PUMP & DUMP money game for innovators and criminals over the last few years.
Those who understand how price works and how money moves in and out between fiat to the crypto space will already know that $BTCUSD or $bitcoin will never be able to sustain the $20,000 price target.
It’s funny that LITECOIN $LTCUSD founder exited all his coins when LITECOIN was at its highest price level back in December 2017.
As long more money is entering into crypto-space during 2017, the sell side didn’t tank as buyers continue to buy more and more fiats enter the space, even if there was selling, the buyers simply outnumbered the sellers which explained the huge surge and demand of THESE COINS back then. Exchanges also cahooted to hold the price up and didn’t exit much back to the fiat world.
The easiest way to understand the flow of market is by looking at the market capitalization, we are now near $100 Billion Price Market Cap again.
Failure, we will see $50-60 Billion and that’s not even the Networth of JEFF BEZOS.
ICOs scams and fake token issuance has stirred a lot of money game pump and dump as ICOs are so easily duplicated and created with a means of a simple website and whitepaper, and claiming to create tokens which are eventually worthless. Sure there are some good things and projects of BLOCKCHAIN TECHNOLOGY, but it has been the playground for the INNOVATORS and AFFILIATES who grab the chance to make money within unregulated territory which is why it was labeled as SCAMs by many people such as Warren Buffet and Jamie Dimon claiming and ICOs as financial frauds as it creates something out of nothing.
Value is perceived to have value when someone deems its value, it can be $100, $200 or even $20,000. This is just a number, ETH and can skyrocket folds in thousands but without the real intrinsic value of an output of value into the society. The buyers will eventually be reluctant to support its price. Not to mention, the mining is now in deficit as falls below $6000 of breaking-even. There are so good coins out there for good use but in the meantime, as much as the coins may be worth for stored-value or to serve its purpose. It is also made up of 95% failure of ICOs Projects of SCAMS, where the criminals disappeared and no means for naive people to get back their money.
We are entering into another pro-long period of consolidation, look at the chart on the left side! Before or other coin have any means of surging back up.
SORRY HODLERS. And have fun averaging!
#Disclaimer, this is just an analysis and forecast.
Happy trading and good luck folks
– FTD
Published at Sun, 09 Dec 2018 13:39:29 +0000
