Ouch ouch ouch is the only thing you can really say when looking at the Bitcoin chart today. Drop, dropping and more drops. And I am sure it hurts for a lot of people, especially the ones who went on the gambling streak. Except for if you went in full on short modus, this is just painfull to see.
On the other hand when you look at the charts and the cool thing now in what Coinmarketcap does is put all big news events extra in there so you can see the potential reasoning for all of these drops.
Coinmarketcap.com
The German government has started to sell those seized coins. Mt Gox coins have come on the market and some of those are literaly immediately going onto the market for market prices (discounts you mean). Think about all kinds of other issues in the world that can affect those markets.
But on the other hand...we are stilll within the range of basic TA. A drop towards 48-50K seems still logic somewhere as that would be a bit below the line where BTC also had some chill time on the road upwards. Grab some liquidity and up again.
World events
So in the end is it the news of the world events? Or are the world events just something that just happens 'on the side' and that in the end the basic TA will take over again. In the end humans act according to the usual patterns. So when the fear is high, that is when the rally will start again somewhere. Or not? Because it did feel like greed was taking over and everything went a bit too fast in the end.
I guess in the end the charts here are like the Dutch weather. You can look outside and it can stink all you want. And when the days are looking good you just got to take full advantage of it, because you never know when the period of rain comes popping in again.
The simple solution for now?
Close the laptop, touch grass, drink beer. Do other stuff apart from looking at those charts. Because those charts stealing your time in thinking for the doom scenario is time you will never get back again.
And the funds allocated in there? I have no worries for that, it feel like this cycle is long enough still for getting all the chances we would want (but it might be a little too short on getting a decent price for my Hivefest ticket in hive price though...sighhh)
Again..not looking at that. Happy weekend everyone, and stay safe from those markets!