TOTAL MARKET CAP (Y21.P2.E1).Correction still playing out?
Hi Traders,
The total market cap also tells the story. Not looking good.
Here are my thoughts.
Prior to price dropping, market dropped due to bearish div in Bitcoin but here doesn't seem to be any bearish div in this cycle but at the overall, there is 1.
Other reasons seem to be based on bad news.
> Hash rate\power drops due to 40% mining power dropped due to power outage in China
> US Gov treasury making a negative tweet saying they will charge institutions which might be a means to protecting the US dollar.
s3.tradingview.com/snapshots/s/sehqwZgF.png
All the best,
S.SAri
dailyhodl.com/2021/04/17/bitcoin-and-crypto-markets-plummet-as-u-s-treasury-rumor-spreads/
The total market cap also tells the story. Not looking good.
Here are my thoughts.
Prior to price dropping, market dropped due to bearish div in Bitcoin but here doesn't seem to be any bearish div in this cycle but at the overall, there is 1.
Other reasons seem to be based on bad news.
> Hash rate\power drops due to 40% mining power dropped due to power outage in China
> US Gov treasury making a negative tweet saying they will charge institutions which might be a means to protecting the US dollar.
s3.tradingview.com/snapshots/s/sehqwZgF.png
All the best,
S.SAri
dailyhodl.com/2021/04/17/bitcoin-and-crypto-markets-plummet-as-u-s-treasury-rumor-spreads/
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Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
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