Ethereum broke the big support line at 245USD. Now the free fall begins. If Bitcoin go through 10,000USD, altcoins will clear all profits this year and back to the lowest prices.
agree, i predicted this massive drop 2 days ago.
i think the biggest support is around 225$. If it goes below that, i think 180 or below will be really fast. This proves two very concerning points.
1º cryptomarket has not changed this year. it's the same bullshit-especulative market that it was 2 years ago.
2º All the news related to technology have really 0 impact on prices. The really important question here is if politicians want to let us use it or not. Considering that 60% of all countries' debt is in bank's hand, there is no possibility that crypto can survive against the system. This is why, precisely, Libra will not succed: because banks and all powers will not let them do it. moreover, it's totally concerning that a huge project like libra is in hands of leftists brutally totalitarians, like facebook, google, twitter and so on.
this is my bet. according to technical analysis, Bears have the clear hand here. So.. now...we have to predict wether this is a controlled dumping or not.
Let's be clear here.
Bears know for a fact, that the more they crash the market, the less investors will be there to deal to high volatility. Bears know that the market is so weak that a huge crash can doom it for so many months. They also know that this is the hen with golden eggs. They can get the egss everyday, or they can kill it. So i think this is a controlled dumping. This is , i think, a movement with two versions:
- They've sold becase over 300$ there is no demand. Absolutely noone values ETH more than 300$ right now. So holding coins for 250-280$ thinking it would pump eventually is exposing yourself over massive profit selling (specially those that bought around 220$).
- This guys, want to test the resistance of ETH. They want to know how low they can buy, so that they can get max profit. How in the hell would you know the bottom of a coin, unless you are in control of that??? So i think the 225$ resistance will hold. in fact, my friend at Santander bank has told me that all automated stops he has seen will jump at around 210$ dumping the coin easily with no support.
hope the big resistance at 225 holds. If it crashes....well...there will be blood in the streets.