The unprecedented rally in the crypto-currency space was baseless and hyper inflated surpassing the infamous "Tulip Mania" of the 17th century. With absolutely no intrinsic value for the asset class, the collapse of this bubble was inevitable.
The regression trend seems bearish with constant lower-highs ever since the historic high of19891 on the 17 of December 2017. With a decisive break below 8750 levels, the short-term target for bitcoin would be 5720 and eventually, this asset class would wipe off all its gains and tumble down to double digits.
The regression trend seems bearish with constant lower-highs ever since the historic high of19891 on the 17 of December 2017. With a decisive break below 8750 levels, the short-term target for bitcoin would be 5720 and eventually, this asset class would wipe off all its gains and tumble down to double digits.