Waking up this Sunday morning and there seems to be another round of ‘below 9k’ chatter in the crypto world.
Bitcoin, and other cryptocurrencies rallied yesterday, but seemed to have failed to continue that momentum. Or…dudes are lining up their Super Bowl bets and selling a little bit of coin in preparation? Lol!
Still, the price action doesn’t seem to bode well for the start of the global trading week in 24 hours.
The media will continue to pen articles describing the ultimate demise of cryptos and pikers like Altucher and Roubini will spew their filthy yawp. Stuff like that will force cryptos to struggle and bounce around uncomfortably.
Yet, if you go back and revisit prices beyond anything than three months, you’ve made a shit load of money. Take solace in that and enjoy the Super Bowl festivities today.
The Dead Cat Bounce was inevitable, but both six month and 12 month charts show a long term trend of higher highs and lower lows.
Enjoy the day!