/biz/ - Business & Finance

>>11002786
hadnt noticed desu
if its really crashing again then its fucking official: crypto leads the stock markets on major down moves (provided monday happens like i think it will (PROTIP: it will)). i believe a lot of this has to do w the fact that the dollar tends to start spiking prior to US market down moves (wew glad i went long TLT on the bell).

looks like BTC/USD has a support at 5750, and failing that (it will), nothing stopping it from going down to 5k. id buy it at 5050 if i were in it for a swing but i honestly expect it to go to 1k or possibly even lower before its next golden bull.

crypto is experiencing what we refer to in the cult of the golden bull as the legendary "RED DRAGON". it will crash lower than anyone believes is possible. the reason is because it is a non-real asset/commodity that depends on people wanting it to continue its existence. now that no one wants it, we will start to see the beginning of serious liquidity issues in the minor exchanges. i predicted this would happen several months ago ITT, as a result of banks consolidating their power over the asset while its still unregulated. once theyve destroyed/bought out all their competition in the exchange market, it will be a better buy. until then.... not looking good.

but lets see if it bounces off 5750 or 5k on the way down.