"Bitcoin (BTC) has crashed. No one really knows why but in my model we should be in for "good" news on the China trade war or some such China-related information that is strong for the Chinese currency."
Bitcoin and other crypto currencies seems to go up and down all the time, people seem to slam it when there is a bear market or sell off or praise it when there are gains and pumps.
"In any event, bitcoin has crashed. The dreaded flag has broken to the downside and the bottom is anyone’s guess.
The decision what to do next comes back to the schism between believing BTC will be worth $100,000-plus a coin or $0 a coin. You have to pick your side."
"Way back before this year’s rally, I stated there is another way of looking at this price action. In commodities a big bubble is followed by a series of smaller and smaller echoes of the initial price shock which erupt over time as the years pass. Each new price eruption is smaller than the last until the original bubble is all forgotten about. If this is your model, this BTC bubble echo is now dead and BTC will fall back to the $2,000-$3,000 range or even lower. Then after a year or two there will be another small vertical and on this pattern will go, until bitcoin is all but forgotten."
Won't rush into getting anymore Bitcoin/s if you are considering buying some, feel we are potentially in buying territory but Bitcoin could still be finding it's bottom lower than $8 000.
Lets keep an eye on Bitcoin and other signals before making a move, all comments and speculations are welcomed.
https://www.forbes.com/sites/investor/2019/09/25/bitcoin-has-crashed-what-now/#3d7a0bf163ab
