Last week the Bitcoin slide seems to have come to a halt, at least temporary. Nothing is certain but on Friday Cryptocurrencies jumped by $39 billion, with about 1507 total cryptocurrencies being published. The pace of ICOs seems to be slowing down a bit with the addition of only one or two ICOs in a week. If I use trend lines, then I always use them in perfect parallel first, in this case my bottom trend line is the base ending on another spike on Friday.
My wave counts are not trustworthy to say the least, but I see no real switch back to a bull market just yet. We would need to see a much steeper decline than what we have had so far. So far about $11,520 has been erased from the Bitcoin ledgers, as the world seems to attack this unregulated market. Those people that tell you that Bitcoin is an investment have no clue in what they are talking about as nothing this unstable should be called an investment in the first place.
I ordered in 11 of the fake Bitcoins and I showed my friends my order sheets. They wanted Bitcoins as a novelty item as well, so chances are good I can sell all of them as they will show their Bitcoins to friends as well.
Bitcoin is under attack on a fronts with most banks no longer willing to allow customers to purchase Bitcoins with their credit cards.
Nothing that has happened after the Bitcoin bubble burst has surprised me one bit, as this Bitcoin Mania could be a one hit wonder! Just in case you just walked out of a cave, you are witnessing the crash of the biggest mania in market history surpassing even the Tulip Mania by a long shot.