Tag Archives: Elliott Wave Nasdaq

Bitcoin Crashes The Nasdaq On November, 29,2017

 

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At $10,000 I was very bearish on Bitcoin. Bitcoin blew past $10,000, and peaked at about $11,000 before Bitcoin made a dramatic reversal.  Block Chain servers were overloaded and many trades could not be executed. 

Bitcoin plunges $2000 after wild record ride past $11000 – bitcoinmining.shop

Biggest Crypto Exchanges Hit by Delays With Demand Surging – Bloomberg

Bitcoin’s Wild Ride: A Rally, a Rout and Outages on the Exchanges – Bloomberg

“Demand” surge?? It’s more like being locked out and not able to execute any orders at all. I will not spend the time keeping any wave count on Bitcoin, as it moves extremely fast. It is valuable in that Bitcoin is faster, more like running in “Fast forward”  You can bet robots and algorithms had a lot to do with this crash, even though they scan for robots on many sites. 

Today’s low in Bitcoin was close to $9000,  and I’m sure more losses are to come as the rallies in Bitcoin remain bearish. Billions of Bitcoin dollars went up in smoke, fleecing the Millennials in the process.

 

At the “exact” same time that Bitcoin imploded on November, 29, 2017 the Nasdaq imploded as well. The other indices ignored the Bitcoin and Nasdaq crash and they continued to soar while the Nasdaq was trying to find its footing. The tech sector has the most to lose if the Bitcoin world or Cryptomania can’t mine Bitcoins anymore.