low volumes creates high volatility. Christmas time people are spending cash on families or saving cash for holiday sales on boxing day of in the new year. There is not going to be many buyers hence "players" with a few million $ of bitcoin can drive the market lower. Just in time to collecton short positions in the futures market and for buyers on the new rumoured Goldman Sachs crypto trading desk.
They could take this as low as $2800 with some strong support and rises at 8200 and 5800 before going strongly down. It would certainly take the exuberance off the market.
I am going into USDT and picking off selected cheap crypto during panic selling - not touching bitcoin, bitcoin cash or litecoin, but for the brave there will certainly be some intence volatility to make some good money day trading with nothing left on the table overnight!
Inspirar
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Yeah, it's been a blood bath, thus far bottoming at down 38% from 19,900 ATH to 12,347. If it drops to 8k, that would be a 60% correction. I think for the good of the whole of the cryptosphere it would be nice if 38% is enough. Although, strong support is in the 10,500-12,000 range, which we came fairly close to. All the Best
catalystcw
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spot on - exactly what I see - hopefully we bounce of $12,5k and don't see 8k
They could take this as low as $2800 with some strong support and rises at 8200 and 5800 before going strongly down. It would certainly take the exuberance off the market.
I am going into USDT and picking off selected cheap crypto during panic selling - not touching bitcoin, bitcoin cash or litecoin, but for the brave there will certainly be some intence volatility to make some good money day trading with nothing left on the table overnight!