This is a quick update just to add some sanity to what is currently happening with Bitcoin.
First of all, the market isn't suddenly doing anything out of the ordinary (yet). If you follow my daily Bitcoin Blog, you'll know that Bitcoin has been following a descending continuation trend for the past month, and as of this time, Bitcoin is still inside this trend.
While I cannot predict the markets any better than the next person, There's no reason to panic now, or at any point in the next 6 months. Bitcoin has reached its 3rd all-time peak, and now we are in a cooling off period, and that includes most of the market.
The chart speaks for itself really. I warned a couple days ago in my blog about the down wicks being a nuisance, and that's just what's happening so far.
I'm not a time traveler though, and a golden rule of market speculation is that profitable patterns generally don't repeat themselves, and if they do it's because few people are aware of them. In the case of cryptocurrency, I believe too many people are watching the 5 minute, 15 minute or 30 minute charts, and the more you zoom in, the harder it is to find trends and see any patterns.
Zoom out a little and find the trends. The further you zoom out, the more predictable the prices become. No one knows anything for certain, but if a coin flip is 50/50, you can tilt the odds in your favor by seeing the bigger patterns, almost like adding a weight to one side of the coin. you'll still lose some, but not by 50/50 chance.
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