Horrendous looking chart. Support level gone.

NL, please update the heading to Bitcoin down $20k in month. I will let you know if this then needs updating to $30k.

In other news, another minor hack of $1.5 billion on Bybit dubai exchange

Worst hack in history!
https://news.sky.com/sto...currency-stolen-13314456

Just to note that this hack (likely the work of a North Korean group) involved ETH not BTC, which isn't vulnerable in the same way as ETH, as it doesn't involve a smart contract (basically, it's less complex).

Bitcoinmaina (formerly known as Tulipmania) “is a model for the general cycle of a financial bubble: Investors lose track of rational expectations. Psychological biases lead to a massive upswing in the price of an asset or sector. A positive feedback cycle continues to inflate prices”**

**until it doesn’t of course.

Also like to add that the same “Psychological biases” lead investors to aggressively defend their ‘speculation’ in an effort to keep the price ticking upwards. Be that of politicians wearing t-shirts promoting it, policy announcements with the sole aim of lifting sentiments towards the same or right down to the journo’s and anonymous posters on bulletin boards/forums who might just have a couple of £/$ invested or even be stupid enough to have the majority of their wealth in it.

“$200” we hear NL shout….. ‘to the moon’.

We have been here before… lots of times and it will end the same way….. but one must ignore rationale….NL says “buy the dip, it’s going to $200!
Hurry now….you don’t want to miss out!

I certainly wasn’t “gloating” ….

….but when it passes through $100 because everyone thinks Trump will force the Fed to buy crypto and at the same time launches his own coin but very quickly, along with his ‘politicians” dumps it resulting in an 80% drop in value…..surely anyone not at least taking their profit off the table might not be as clever as they think they are.

The Maga followers are probably still holding Trumps coin long after Trump and his closest have taken theirs out.

This is very similar to the Railway mania of the late 1800’s where politicians manipulated stock process through announcements around legislation etc. they made a killing at the expense of the rest.

‘Speculation’ is worthless if you don't know when to get in and out and back in again…..repeat.