Today we discuss Bitcoin in March.
Yes we are down but this was expected. It is a technical and a short term correction that will help in the accumulation process in mid to late March. This is the exact place I said we would be in our previous Bitcoin in February
Key Take Aways:
We break $7800 all bets are off. 25% chance of happening.
Possibility of a pre-pump already? Not likely.
We will take major 1k jumps to the 10.4K range by the end of the month. 75% chance of happening.
Remember Bitcoin is a measuring stick for the existing financial system and the central banks that run it.
Central banks keep increasing money supply, so it is perfectly natural for the value of Bitcoin to rise in fiat terms.
Fed will lower interest rates in March. Which will create a move back into Bitcoin. Fed's next monetary policy meeting is on March 18.
Why the sudden drop?
Traders (especially those on leverage) have to liquidate first and that causes a mass selling which triggers liquidations. At that point algorithms and high-frequency trading bots observe what's going on and accelerate the sell-off. After this wave, we should see normalization and new buying from the long-term holders who see coronavirus and a reason to own BTC long term instead of selling.
This is actually necessary in order to fuel the next bull run so it will not collapse. By doing this you are ensuring fuel by getting rid of weak hands and bringing the price low enough after the expansion to provide confirmation for all long and strong and allowing the rest of the bulls to get long and strong via all the orders from weak hands letting them go.
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Roll the Disclaimer: Nothing in this email is intended to serve as individual financial advice. DYOR - (Do your own research)
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