No New Money In Crypto, Be Cautious Buying Bitcoin Here.

15 thg 10, 2017

Crypto has lost nearly three billion dollars in it's overall market cap, but BTC has continue to rise to a new all time high in the $5900 price range in the last week. This shows that there is no new money flowing into crypto to send BTC/USD to this level-rather this entire rally is being fueled by funneling old money out of altcoins. Be very wary about buying bitcoin at this level, as it shows there are no new buyers outside of crypto willing to funnel money in to buy bitcoin at this price.

Source: coinmarketcap.com/charts/