Bitcoin, to buy or not to buy
That is indeed the question. The reality is that Bitcoin buying has been fuelled largely by hype. The technology behind it, the Blockchain technology, may be excellent. However, the strong buying of BITCOIN is not happening. I flip flop about what I think about Bitcoin, but the lack of institutional investment rings alarm bells to my mind. It may be the next best thing, or it may be just a big dud that was overhyped and fuelled by retail investors. Some people are in a lot of hurt now with BTCUSD trading around 6320 retreating from a peak of just under 20000 at the end of last year.
Well, price is now sitting just above the 100EMA level as price is compressing into a wedge. A breakout is coming, so it is worth watching to see what happens next.