Published On: Fri, Dec 29th, 2017

[Op-Ed] Bitcoin: Denial Stage Will Bring Us To Bull Trap

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The violent sell-off of cryptocurrencies seen recently had been expected long ago.  Everybody was talking about growing bubble, everybody was trying to predict the dates and levels, but as usual, it has come up unexpectedly. Or not? Below I will name the key drivers that triggered the move and the possible scenario for most cryptocurrencies under the leadership of Bitcoin.
The current Bitcoin slump is the function of mass profit taking. During the recent months, the speculative demand sped up the cryptocurrency’s growth pushing the prices up 200%-500% higher. Everybody knew it was a bubble but still kept buying up till the moment when some key figures of the crypto world came out with an official warning. And this became the start of new era for Bitcoin and Co.
An Interesting Chronology of Events
December, 19 – Emil Oldenburg, the Co-founder and CTO of bitcoin.com, one of the world’s largest Bitcoin websites, has sold his bitcoins saying that others will do the same when they realize how illiquid the market is.
December, 20 – the San Francisco-based software engineer, whose Litecoin was founded in 2011 “sold and donated” all of his holdings over the past …

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  1. DARK DARK says:

    [Op-Ed] Bitcoin: Denial Stage Will Bring Us To Bull Trap https://t.co/mrdYiQyBSj

  2. DARK DARK says:

    [Op-Ed] Bitcoin: Denial Stage Will Bring Us To Bull Trap https://t.co/mrdYiQyBSj

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