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Wednesday, March 14, 2018

Bitcoin below $8000 and Ethereum below $600, so how much worse can it get?

Bitcoin is under $8000 (at $7963 at time of writing) and Ethereum below $600 (at $588 at time of writing) - the lowest since the Feb 11th dip.

So, what does this mean? 

Well, it means we're waiting to find out the re-entry point of large investors  (aka "whales") - the point where they decide it probably won't go much lower, so it's time to re-buy at low prices.

We've evaluated two data sources - past indicators, and monitoring some private telegram channels for large accredited investors only - where our sources have been combing to look for the discussion of automated buy-orders.

Based on this data we believe the worst case scenario before an upward trend is triggered would be around $6500 for Bitcoin, and $450 for Ethereum.

Of course, relief could still come before then, and a stagnant market will soon be revitalized either way, as a multitude of new index funds prepare to launch bringing in large amounts of institutional investors.

There's light at the end of the tunnel, what's uncertain is how fast we're traveling.

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Author: Mark Pippen
London News Desk