Bitcoin reached $14,000 – What’s going on?

//Bitcoin reached $14,000 – What’s going on?

Bitcoin reached $14,000 – What’s going on?

Hi everyone!

We thought we’d just give you our thoughts on the situation after this morning, when BTC has now reached new and incredible heights.

As many of you know, we have been expecting a correction for a long time, as has all experts we know or follow. Both in the coin world and the old financial world. Everyone in the industry were very surprised that it could push past the 10k level.

After that happened, we expected that around 14k would be the top, which is where we are now. However, since it passed the magic 10.000 level, mass hysteria fueled by mainstream media has caused a massive FOMO wave, of new investors with no experience in coins, who just want to get some bitcoin.

This has caused Bitcoin to becoming overbought at a level that is highly unsustainable, and will result in a massive crash at any time.

With mainstream FOMO and CBOE and CME both opening in the coming weeks, the price can easily get pushed higher than this. But when these exchanges open, it can very easily result in a big dump, as investors take profits.

So our recommendation stays the same:

STAY OUT OF BITCOIN. WAIT FOR THE CORRECTION!

For those of you who argue that we are wrong for telling you to stay out of Bitcoin, which we have done since around the $8,000 level, please consider this:

It was at that time very unlikely that the price would continue up, and it has been even more unlikely since then. And even now, when the price has reached $14,000, your maximum profits from going in back then would have been 75%. That’s a 75% reward for a very bad risk/reward ratio.

There are a vast number of other solid coins, that had a much better risk/reward that you could have invested in, instead of bitcoin, and today you could have gained 100-800%.

This is why we have been advising you to stay out of bitcoin until the correction, and invest in other coins instead. This was the better investment decision.

About our signals, we were happy to see our XLM pay off very nicely, but our other signals have not reached their targets, because of bitcoins movements.

We are still looking for new signals for you guys, but right now when Bitcoin is making very strong moves, altcoin trades will be high risk, and there will be a limited number of good opportunities.

So keep calm, stay patient, and see you on the moon guys!

By | 2017-12-07T03:34:39+00:00 December 7th, 2017|Categories: General|0 Comments

About the Author:

Co-founder of CoinRunners, serial entrepreneur and long time equity trader for more than 10 years. Switched almost exclusively to coin trading in 2017 and has since managed coin funds for private investors.

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