There was a lot of FUD going around yesterday and Bitcoin took a plunge. But why?
We had big resistance at $11750 and because we could not break it, if gave bears the opportunity to capitalize on it. We went up to $11675 on Bitstamp, but then slowly came down in the next day or so. Then when the FUD news came last night and gave every Bear a reason to sell.
2 of the big FUD news articles where Binance being hacked, but this is not true and the second was the SEC wanting all exchanges to register with them. But this is good news long term because people’s money will be more secure.
I believe we will shoot up again as soon as every bear comes to it’s senses in the next 24 hours or so.
Here are the views of Dan from The Chart Guys:
And here are the views from Tone Vays on the dump:
What do you think of the current bitcoin price?
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I am a successful bitcoin cloud miner and affiliate of Genesis Mining and USI Tech. I have been mining for the last 19 months. I highly recommend Genesis Mining and USI Tech to earn bitcoin and make money online. I believe it is more important to earn income than hold assets. That is why I recommend mining crypto and blogging on Steemit.