The correction may not be over yet. The $10,000 mark was breached briefly last evening (EST). To me it looks like we have not yet had that capitulation drop on high volume. I think that is needed to get to exhaustion and set up a reversal.
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What's your price level prediction?
I am sticking with somewhere near $7,800, with an extreme case scenario near $6,300.
Word on the street is, that if it goes to $3,500 it would wipe out all the cloud mining businesses, and lending platforms to boot... and I would say good riddance!
Both are rackets. Sometimes you need a forest fire to get new growth.
Couldn't have said it any better myself mate!
I agree with that. One more huge spike lower to wipe all all the margined longs and then up up and away.
Hey, now that makes sense... and a good tactic if I do say so myself.