Crypto Wipeout Resumes
I haven’t kept a secret of my view that, should the Bitcoin Fibonacci support be breached, we were heading back toward the $7,000s. Indeed, I mentioned it just yesterday on my tastytrade show. And here we are!
Of course, Bitcoin is practically a rock-solid blue chip investment compared to the “alt-coin” space, which has suffered losses of anywhere from 90% to 100% among the countless hundreds of little frauds that were pushed onto a dopey public in late 2017 and early 2018. Take Ripple (please!)
Remember this headline from early 2018? Good times. Good times.
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Crypto's seem to suffer the same problem 3rd world country currencies have to deal with. A strong dollars is distinctly bad for them and there are too many weak currencies to choose from. They become currencies to gamble on more than to want to buy and hold.