DON’T BE MISLED BY FALSE REASONS FOR BITCOIN CRASH
Money Laundering Crackdown
Please click here for a chart of bitcoin crash (BTC).
Note the following:
- Going into the weekend, sentiment on bitcoin and other cryptos was extremely positive.
- The new direct listing of crypto exchange Coinbase (COIN) stock had added to the already extreme sentiment.
- Over the years, we have shared with you that when sentiment becomes extremely positive it is a contrary indicatory. In plain English, extreme positive sentiment is a sell signal.
- Bitcoin was vulnerable to a selloff because of extreme positive sentiment.
- The chart shows that over the weekend bitcoin crashed dropping as much as 15%.
April 19, 2021