MAJOR ALERT: One Of The Greats In The Business Just Issued This Dire Warning About Bitcoin

Friday, December 8, 2017
By Paul Martin

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

One Response to “MAJOR ALERT: One Of The Greats In The Business Just Issued This Dire Warning About Bitcoin”

  1. old nam vet

    Why do I suspect that bit-coin is being manipulated to a high for a sell-off? I don’t know, must be my suspicious nature.

    #3491567

Leave a Reply

Join the revolution in 2018. Revolution Radio is 100% volunteer ran. Any contributions are greatly appreciated. God bless!

Follow us on Twitter