He had lots of BCH and BTC right? Now he has lots of BTC, BCH ABC and BCH SV (he get both from fork). During war against BCH ABC he should dump BCH ABC into market making price dump and buy BCH SV for that rather than dumping btc. This will work better. But price of BTH ABC is quite stable in BTHABC/BTC pair and volume is low which means that he is not dumping it.
In my opinion its not the reason for btc to dump because:
1- as i mentioned there is better way
2- for 9 month btc price was bouncing from 6k each time with lower volume and volatility. It has to change otherwise we would have straight horizontal line on chart with 0 volume after next few months. Each bounce from support makes it weaker. Current market situation would happend even without this war.
if the support area around 6000$ holds again this time, we will be in a really good position to actually break the lower highs, we would only need a 1000$~ move to break it for the first time in basically a year.
If the support will hold. If not we will see 4-5k few days later. Question is - will it hold?
In my opinion there is no chance to it to hold. If market will act normal we we see 6k break in next 2 weeks. Only good news can save BTC.
Support is weaker with every bounce. Why?
1- With second bounce traders were buying on 6k to profit till 12k. Now with resistance close to 6700 it might not be worth to take risk.
2- Those who bought in february, may, with every dip close to 6k are slowly getting into half year into position without any profit. They are slowly getting bored and are looking where to sell
3- Shorters know that braking 5,5-6k will dump market instantly to 4k (stoplosses, overlaveraged longs) - big short from whale is getting more profitable and less risky - it might be easier to earn for big whale shoring at 6k rather than buiying to sell at 6500
4- all willing to buy at 6k range already did. Now we are seeing only low volume speculation
Take a look at silver few years ago and how its end up.
Looks similar to BTC? 27$ support looks as strong as 6000$ for btc
Thats how it end showing bottom at 15$. We need good news to help this support. Otherwise we will see another support at 4-5k what will postopne next pump from december 2018 too december 2019.
It was obvious for every good trader. My post from september. Support acctualy was much stronger than i thought and holded for 2 months not 2 weeks.