Bitcoin -25%, Ethereum -29%, Ripple -44%: Is the Bitcoin Top In?

Bitcoin is interesting to watch due to its volatility. It's down 25% for the day. Ripple is down 44%.

I like watching Bitcoin because I have no idea what it will do and the volatility is breathtaking.

I have also been gathering a number of Bitcoin Tweets over the past few months regarding pontifications by people who have no clue where it's going, but they make forecasts anyway.

When Bitcoin fell to $12,000 from $19,000 a couple weeks back then rebounded to $16,000 the true believers were out in force.

One said the bottom was in. Another quickly predicted $26,000.

People are picking numbers out of their ass.

Bitcoin Top In?


Mike "Mish" Shedlock

Awwww. I always thought that Yogi said that!

By the way, CJones, much of your post on currency is correct. Though history shows us many currencies have indeed gone to zero.

Which are the bits on currency that you disagree with and find incorrect?

And every time Bitcoin corrects the naysayers come out and proclaim its death. That was way to hot too fast. But at least it’s a free market- unlike stocks which are only allowed to go up.

Sounds to me like Blacklisted is picking numbers out of their ass. As a trader for three decades of options, stocks, futures, and metals, I would be very interested in knowing what method is being used for a $50K level EOY prediction. Anytime I hear anyone make a timing/level prediction I have a tendency to call bullcrap.