Hello viewers! I have been busy with Bible college lately so have not made much content. There was not much to cover, other than FUD and really just patiently waiting for this correction to play out.
BTC this morning dropped below 3,600 on some exchanges. I am not claiming it is done going down. This sell-off has been fast due to China FUD. Really, this sell off has happened faster than I expected. I was anticipating some time in October, BTC might see the 3,600 range.
We are due for an oversold rally, I believe, and we have also hit the buy-point I was waiting for @ 3,600 BTC. It is hard to go long in these situations but with the total market cap of crypto at 122 billion, I feel pretty comfortable buying into the carnage.
Consider me bullish on the market at this point, with the caveat we could have a further decline down to 3,100 if the market really wants to propagate the Chinese FUD. China isn't the reason to own cryptocurrency, though, so to me, this is a market hysteria based upon false assumptions. It's true in the sense China got our market valued higher, faster. It is also true Bitcoin could have hit 5k with a total Chinese ban of cryptocurrency from the beginning.