Hi,
we have a new decline of BTC today. For me it is huge, as 5% can be considered a huge margin for a whole year, not a day.
As it is going under 20k, I fear that the next resistance will be broken soon. People panic sell or sell to buy later cheaper. Both scenarios adding a lot of pressure to the market.
The action that makes me think, is that the miners sell in masses. It would be interesting why they do it? Do they need cash? Are they also afraid or the energy cost is that high?
This I can't answer, as it is a relevant question.
Also, switching from a PoW system, might stabilize the price, as BTC is seen as an environmental destroying coin, which is somehow true.
Crypto is influenced by BTC, as BTC is the crypto, so every swing BTC makes, the others follow, no matter the application or how good they are.
I hope that if it continues to drop, that I'm able to buy 1 full BTC in a single transaction. That would be a blast to hold.
Will BTC climb fast again? I don't know and can't tell.
It would be interesting to see, how do you see the crypto situation?
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