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It Looks Like Bitcoin Wants To Test $20,000

It Looks Like Bitcoin Wants To Test $20,000


Seeking Alpha
2021-05-18 07:40:00
It Looks Like Bitcoin Wants To Test $20,000

I do not believe bitcoin is “digital gold” which will go to the moon because of Fed money printing. I actually think bitcoin is rather dangerous because of its difficult-to-quantify regulatory risk.Many individual investors have been lured in by recent 10-fold gains over the past year, and when the floodgates open and the selling starts, we may experience a dramatic decline similar to the 80%-90% declines it saw many times on its way to $65,000.Most people that have bought bitcoin did not buy it to transact in it. They bought it simply because it is going up. If they bought it because it was going up, it stands to reason that they will sell it when it is going down - just because it’s going down.

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