Bitcoin: Panic May Just Be Getting Started

Nov. 23, 2022 6:44 PM ETBitcoin USD (BTC-USD) CryptoBTC-USD76 Comments
Pinxter Analytics
5.02K Followers

Summary

  • Bitcoin has made overnight millionaires and billionaires but has come down quite a bit over the past few months, prompting a bear thesis consideration.
  • I believe that that isn't the only thing - since Bitcoin isn't backed by anything tangible, the likelihood is that there isn't really a bottom.
  • With a lot of people placing a disproportionately large portion of their holdings in Bitcoin and cryptocurrencies - this can turn ugly real fast.
  • That's why I'm selling the rest of my Bitcoin and have turned very bearish on the market and 'alternative currency system'.

Cryptocurrency And Mobile Technology

solarseven

Bitcoin (BTC-USD), the most popular cryptocurrency in the world, as well as cryptocurrencies in general, have seen negative news coverage at an increasing rate over the past couple of months. The cryptocurrency market made people millions and billions in value

This article was written by

5.02K Followers
As part of my earnings growth strategy, I invest, trade and write about small under-covered growth companies which don't get much attention from establishment analysts as well as use the strategy to interpret short and long term moves in bigger, well established companies in the United States, Europe and the Asia-Pacific region.-All articles and the information in them are my opinion based on my own research and analysis and should not be taken as investment advice without proper due diligence and advice from a professional financial adviser.

Analyst’s Disclosure:I/we have a beneficial long position in the shares of BTC-USD, AAPL either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Opinion, not investment advice.

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