Cryptocurrency
Bitcoin Investors are Getting Greedy Again, and It’s a Bad Thing for BTC
As reported on NewsBTC, “Bitcoin has seen some lackluster price action in recent times, struggling to garner any decisive momentum in either direction as both buyers and sellers reach an impasse. “The cryptocurrency does appear to be positioned to make another big movement in the near-term as its consolidation phase persists. “One factor that could […]
As reported on NewsBTC, “Bitcoin has seen some lackluster price action in recent times, struggling to garner any decisive momentum in either direction as both buyers and sellers reach an impasse.
“The cryptocurrency does appear to be positioned to make another big movement in the near-term as its consolidation phase persists.
“One factor that could have some influence over which direction Bitcoin goes next is the fact that its investors are growing increasingly greedy.
“This sentiment shift is rarely positive for BTC – as it often acts as a counter indicator that suggests it will see some near-term downside.
“These factors all suggest that it is poised to see downside in the days and weeks ahead.
“Earlier this week Bitcoin incurred some massive momentum that caused it to rally up to highs of $10,400 before reeling to lows of $8,600.
“From this point BTC was able to post a sharp rebound, and it has since been trading sideways around $9,700…”