Biticoin - takes a beating Hey Oldfx1
Biticoin is taking a major beating. It is starting to break down as I predicted - perhaps a little sooner than I expected. You see there is more than just focussing on the TA. Markets face a whole number of headwind issues these days so TA is only a portion of the where the markets are going.
Bitcoin is not a real currency but just a fad and will eventually dry up. Ask yourself what is the sentiment of the real investor when is comes to Biticoin. Psychological they are on edge knowing the pomzi scheme is getting too large and sitting on the edge of cliff and will fall into a deep hole soon. All my measuring factors indicate this will happen. You know the old story - that if the taxi driver is telling you to buy Biticcoin and as a good investor you would run to your computer and sell your Biticoin. Are we there? We are very close to this panic stage. When investment firms starting selling this will create a selling frenzy.
As I've said before the coin has ABSOLUTELY ZERO value so it is just a fad that will eventually crash and burn.