Most people in the #cryptocurrencies chat witnessed me call out BTC's drop from $59K to $49K.. Based on what I've analyzed on these charts, if there's no hard bounce at $46K-$48K, then BTC will plunge to $40K by the summer (or sooner). If we begin to close under $40K, then institutions will likely short off their BTC in order to buy at a more stable bottom.
BTC and U.S. indexes are positively correlated. Most average American consumers are not yet aware of the power of BTC and crypto. I don't see consumers rushing to purchase BTC in the event that their 401Ks are tanking with the indexes.
The only people who will own BTC at the apex of an inevitable crash of U.S. indexes, real estate, and thus cryptocurrencies -- will be those who were educated enough to SELL HIGH & BUY LOW.
-Ri$ky
BTC and U.S. indexes are positively correlated. Most average American consumers are not yet aware of the power of BTC and crypto. I don't see consumers rushing to purchase BTC in the event that their 401Ks are tanking with the indexes.
The only people who will own BTC at the apex of an inevitable crash of U.S. indexes, real estate, and thus cryptocurrencies -- will be those who were educated enough to SELL HIGH & BUY LOW.
-Ri$ky
