RE: Did we just see the bottom in Bitcoin?

[wameyo]

The correction was a needed one to pave way for a healthy growth. The December highs of almost $20K were just abnormal. I'm sure by now weak hands have already sold off and we are going to experience normal growths.

The SEC meeting today didn't go so bad either.

Comments

[jrcornel]

Agreed. The meeting wasn't great but it also wasn't bad. That coupled with the fact that risky assets around the world rebounded, also helped bitcoin rebound.

[jassi]

yeah right i think the correction done

[lordprime]

Many good reasons that we just saw the bottom:

1. The world didn't end from the SEC/CFTC meeting. In fact, it was a clear positive and markets go up when uncertainty declines
2. Chart showing a good bounce on high volume with a double-bottom (although intraday) at 5900
3. Excessive negativity earlier today on Reddit and social media sites.
4. Money flowing in soon from all over the world with the end of Chinese New Year, potential Bittrex fiat on/off-ramps, and Robinhood crypto trading

That said, I have some limit buy orders that still haven't filled just in case that I'm wrong.

[jrcornel]

You also forgot tax refund season here in the US ;)

[stackz]