Bitcoin Futures Rally Review

In the last day or so Bitcoin has surged which is not the start of a runaway bull market, but can be a simple inverted zigzag. This grinding bear market has not acted like some fantastic looking flat or zigzag. The moves would be far more violent than we are presently getting.

None of the declines have been sheer vertical drops typical of a C5 wave in a flat or zigzag. I have said in the past that, any asset class that starts from “Zero” can end at “Zero”.

The funny part about this is that the mainstream media is starting to talk like that!

Get Ready for Most Cryptocurrencies to Hit Zero, Goldman Says – Bloomberg

The total Cryptocurrencies numbers have actually dropped in the last few days from 1514 back down to 1506. This number may even decline some more if they keep shelving projects due to lack of interest, bankruptcies, or just too costly to implement.

The Bitcoin ratio is 6.32:1 which is and extreme reading, but who says that the Gold/Bitcoin ratio can’t hit 1:1.  One of the lowest readings I have is a ratio of 1.74:1, so any 2:1 ratio would not surprise me. Does this mean that Bitcoins can start into a super bullish phase? I doubt it,  as all Cryptocurrencies can flat line just like Tulips did.

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