Been doing some research on bitcoin., Here's an excerpt from an article;
"July 30/2014
Over the summer, a slew of eager businesses joined the Bitcoin bandwagon, including Microsoft (MSFT), Dell (DELL), Braintree (a Paypal (PYPL) subsidiary), and online shopping behemoth Overstock (OSTK). However, the long-term price decline continues, and by the end of the year, Bitcoin will be back below $300. In fact, it's possible that the major corporations were the ones that pushed the price down. Accepting Bitcoin as payment, they'd instantly sell their holdings on the market in order to convert them back into regular cash, increasing supply and depreciating Bitcoin."
Could the next couple of weeks be bearish?
"July 30/2014
Over the summer, a slew of eager businesses joined the Bitcoin bandwagon, including Microsoft (MSFT), Dell (DELL), Braintree (a Paypal (PYPL) subsidiary), and online shopping behemoth Overstock (OSTK). However, the long-term price decline continues, and by the end of the year, Bitcoin will be back below $300. In fact, it's possible that the major corporations were the ones that pushed the price down. Accepting Bitcoin as payment, they'd instantly sell their holdings on the market in order to convert them back into regular cash, increasing supply and depreciating Bitcoin."
Could the next couple of weeks be bearish?
Trade active
The article is linked belowTrade active
Price is looking really attractive for a sell. Is this a fake rally, the short will be invalidated once we break 43kTrade active
sell still onTrade active
Well well a week later and we are back below 40k.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.