As predicted, I stayed away from crypto currencies. And it was a good decision. Bitcoin plundered like a hammer from the sky. And it was expected. Huge bubble was created in the past and it was just a matter of time when it will burst. But, that’s just a minor setback, in my opinion. US government shuts down and it created panic among crypto investors. Exactly what they wanted! Don’t be fooled, they are in intentionally weakening crypto currencies as they are scared of it! It will not last!
This morning is the first morning in a while when we’ve seen Bitcoin price actually maintain some strength that it picked up overnight and this could be an indication. That’s not certain, of course, it’s more speculative than anything, but given the action we’ve seen over the last few weeks, it’s far from an unreasonable suggestion.
If this is the case, maybe price can finally find a floor in and around current levels as opposed to constantly flirting with a downside breach of the $10,000 mark and, in turn, settle into a sustained period of upside appreciation.