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The Bitcoin price has continued its cataclysmic November, with BTC dropping further overnight to $6,500, levels not seen since this May.
In today’s show, we examine the following 4 Reasons Why Bitcoin Price Continues to crash:
In other Cryptocurrency news today…
Market analyst says, “The BTC price is headed for $20,000 – $25,000 zone next year.”
The Crypto market has been a disappointment lately. Lackluster bitcoin price action has intensified overall selling activity. But things are in for a welcome change, as BTC is expected to explode next year.
Crypto Michael shared on twitter:
$BTC #BITCOIN All in all, the long-term trend is still fine, aside from a parabolic explosion earlier this year (which is an outburst to the upside). Keeping the trend intact -> market is fine. Onwards to $20,000-25,000 in 2020.
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
Show Notes / Resources:
Whatever movements there are now (whether we go back to $7,800 prior to any further downwards movements), I do believe that the asset $BTC is one of the few bullish assets macro wise for the coming years.
Bottoming $6,200-6,500? Hell yes, I’ll be happy. Stack some more BTC.
— Crypto Michaël (@CryptoMichNL) November 24, 2019
$BTC #BITCOINAll in all, the long-term trend is still fine, aside from a parabolic explosion earlier this year (which is an outburst to the upside).Keeping the trend intact -> market is fine.
Onwards to $20,000-25,000 in 2020. pic.twitter.com/uednu3jgo4
— Crypto Michaël (@CryptoMichNL) November 23, 2019
Not making reference to manipulation. Bitmex is now collecting in fees as much as 7% as all miner issuance combined, maybe slightly less given how fees are not flat. A large percentage is sold into the market. A significant sum for a single entity.
— Alex Krüger (@krugermacro) November 25, 2019
Added liquidity can only help price, but $BTC doesn’t respond to macro variables.It is such an illiquid/fragmented market that in the absence of mass influx of new buyers, actions of a few determine direction. Micro, not macro.
Only narrative still standing is the halving/s2f.
— Alex Krüger (@krugermacro) November 24, 2019
Bitcoin Price Headed For $20k – $25k Zone Next Year: Analyst