Coronovirus Fear Cycle Rally is Cooling Off

29 de jan. de 2020

BTCUSD

This Coronovirus fear cycle pump is starting to look toppy. The pump we have seen over the last few weeks has been stimulated by wealthy Chinese citizens funneling money out of china via BTC. We saw something similar in bitcoins price action during the Greek Debt Crisis of 2015. The latter crisis was precipitated by wealthy Europeans taking money out of banks and funneling billions into BTC, which led to a massive bitcoin bubble that popped in the end of 2017.


Yesterday the NIH announced that they would have a working vaccine available within three months for human trials. If the NIH is
correct, we should see a vaccine made available to the wider public within 6 months. My feeling is that overall, people are over reacting to the virus and once the masses realize coronavirus its not as dangerous as the doomsday hypers are marketing... fear will subside and bitcoins price will move significantly lower.

I believe at some point bitcoin will reach 20-30K, but I don't see this happening until an ETF is approved. Till then chop, which could last at least a year or two....