Why institutions buying bitcoin worries me.
Been doing some research on bitcoin., Here's an excerpt from an article;
"July 30/2014
Over the summer, a slew of eager businesses joined the Bitcoin bandwagon, including Microsoft (MSFT), Dell (DELL), Braintree (a Paypal (PYPL) subsidiary), and online shopping behemoth Overstock (OSTK). However, the long-term price decline continues, and by the end of the year, Bitcoin will be back below $300. In fact, it's possible that the major corporations were the ones that pushed the price down. Accepting Bitcoin as payment, they'd instantly sell their holdings on the market in order to convert them back into regular cash, increasing supply and depreciating Bitcoin."
Could the next couple of weeks be bearish?
"July 30/2014
Over the summer, a slew of eager businesses joined the Bitcoin bandwagon, including Microsoft (MSFT), Dell (DELL), Braintree (a Paypal (PYPL) subsidiary), and online shopping behemoth Overstock (OSTK). However, the long-term price decline continues, and by the end of the year, Bitcoin will be back below $300. In fact, it's possible that the major corporations were the ones that pushed the price down. Accepting Bitcoin as payment, they'd instantly sell their holdings on the market in order to convert them back into regular cash, increasing supply and depreciating Bitcoin."
Could the next couple of weeks be bearish?
Trade attivo
The article is linked belowTrade attivo
Price is looking really attractive for a sell. Is this a fake rally, the short will be invalidated once we break 43kTrade attivo
sell still onTrade attivo
Well well a week later and we are back below 40k.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.