Bitcoin has been falling lately, but this is due to an overdue correction that’s been fueled by china FUD yes chinese Bullshit. Bitcoin has dropped a lot since its highs of $5000, and so have the alt coins. Many people wonder what they should do, plenty of bad news popping up saying bitcoin is a fraud a scam a pyramid scheme, well its blockchain technology it’s all public everyone bashing bitcoin are the ones that their business are built on screwing everyone and making them rich, sorry bitcoin is the free market, freeing us all from the bankers and money hoarders, so no its none of those fraud or scam or pyramid scheme.
Bitcoin yes its down right now your accounts look horrible. Keep in mind you only “lose” when you sell, at the same time you only gain when you sell also, unless you’re in bitcoin until your able to spend it at your local store, currently i am not. I do how ever accept bitcoin for any service i provide. If your holding for years, just ignore the red and the lose, it will come back and it will come back stronger, the old saying goes, “The bull climbs the stairs and the bear jumps out the window”. Yes the bear has jumped out the window but it is healthy let the market do its thing DO NOT PANIC SELL.
There many lines on the chart i like lines to see the full picture. You notice Bitcoin spiked below my lower trend line, that’s where i expect to see it bounce back near $4000 then back to $3000. If you are not an experienced trader and havent sold hold tight.
Where is bitcoin heading from here, looking at the chart it is following the trend lines I put on my chart a week ago, yes it’s trending down. and will most likely continue. I suspect we will bounce up the $4000 mark then we will drop back to $3000, I do believe after $3000 we will start to up-trend again and i will try my best to get a small article out when i see the trend change directions, subscribe at the bottom of the page to get the email when trend is changing. When the trend changes if you have sold you will want to buy back in, or maybe you want to buy a bit of bitcoin to ride the wave up and sell for quick profits that’s a great way to earn some cash flow.