As you all may know, I have been in and out of Bitcoin and other Cryptos over the years, but something is going on and we need to be aware.
Bitcoin and other Cryptocurrencies have been trading in a tight range for a while now, and as of late we are witnessing a developing/worsening currency crisis in emerging markets. With that, we are seeing the typical "knee jerk reaction" into the perceived safety of the US dollar (something I have been covering at length in my business day MarketReport videos).
I believe there is a strong possibility that as this emerging market currency crisis gets worse, and it will IMO, there could be a deliberate, but short lived, smack-down in the price of Bitcoin.
As a person who believes in the concept of Cryptos, although I have admitted that I am having a hard time putting a real value on it in this environment, IF there is a smack-down with regard to Bitcoin, it would be a buying opportunity.
Gregory Mannarino
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