MAJOR ALERT: One Of The Greats In The Business Just Issued This Dire Warning About Bitcoin
KingWorldNews.com
December 07, 2017
Today one of the greats in the business just issued this dire warning about Bitcoin.
Bitcoin Blow-Off
December 8 (King World News) – Here is an extraordinary warning regarding Bitcoin that was issued by Jason Goepfert at SentimenTrader: Anecdotal evidence of a blow-off in Bitcoin has exploded over the last couple of days. That’s hard to incorporate, so using data related to price action and public interest, we see that a sentiment model has reached blow-off territory. The few other times we’ve seen an extreme like this, further gains were erased in the week(s) ahead, especially once there was an initial sign that late buyers were getting scared…
Bottom Line
Anecdotal evidence of a blow-off in Bitcoin has exploded over the last couple of days
Using data related to price action and public interest, a sentiment model has reached blow-off territory
The few other times we’ve seen an extreme like this, further gains were erased in the week(s) ahead
Anyone consuming financial media on Thursday could not help avoiding Bitcoin. Many would prefer to do so, since it has generated the kind of hype that markets haven’t seen for years. Perhaps since the tech bubble.
Getting into a discussion about its merits (or lack thereof) and bits of bubbly anecdotal evidence (of which there is an overwhelming amount) is kind of a no-win situation. Most of us don’t hold or trade it, though with the possible introduction of a viable (?) futures contract, it’s becoming more interesting to mainstream speculators.
The Rest…HERE
