Bitcoin loses 20% in one sitting … (and someone told you so)
This morning at 7.30 Fabio Lugano had written this article that warned about virtual currencies also with a view to the movements of tokens on exchanges
Well, it thundered so much that it rained, indeed a nice hailstorm came. A falshcrash of the order of 20% -25% has not been seen for a while, and we speak of "Flash" with reason because everything happened in a very short time, practically -24% in an hour.
Now the drop on 24% is around 17% 18%, and it would seem the classic "Dead cat bounce". The reasons can be many, but if a move from Cold Storage to Exchange had already been detected yesterday, it means that something was already in the air.
The reasons can be many: China, the end of the Tesla bubble, investors who, trivially, want to take home profits and limit risks. The reasons can be 100 and none at the same time, if not the deflating of a bubble.
Will we go back to the "Winter of my discontent" (cit) of virtual currencies? Who knows. Surely now it would be better, in his interest, that Elon Musk started retweeting something in favor of Bitcopin otherwise Tesla, who thought he was going to get rich with cryptocurrencies, risks being carried through.
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The Bitcoin article loses 20% in a single session… (and someone told you so) comes from ScenariEconomici.it .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/bitocin-perde-il-20-in-una-sola-seduta-e-qualcuno-ve-lo-avevaa-detto-lol/ on Wed, 19 May 2021 14:05:47 +0000.