By Tim Knight
The unraveling continued overnight with the market leader Bitcoin………
It still has a fairly solid shelf of support around $6,000. A clean break of that level would, I suspect, freak the HODLrs out, in spite of their moniker.
As I glance around less “blue chip” crypto charts, I see heads and shoulders everywhere, suggesting much lower prices ahead.
Naturally, during the debacle of 2018, interest and volume have shriveled up. You can see an example of this below, with a crypto that burst to about a quarter BILLION coins traded back in December, whereas these days it’s a million or two per day. A 97.5% price drop can do that.
In spite of it all, the crypto “industry” keeps touting its wares, which I find hard to believe.
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