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Quite frankly, the biggest problem that I think Bitcoin has been that there’s no real use case for it. has fallen rather significantly during the trading session on Friday as the $18,000 level has offered a significant barrier. This is an area that was previous support, so now it should have plenty of market memory here, meaning that there should be plenty of sellers., but I don’t think that is going to be a situation where you need to get overly excited.Any side of exhaustion after a rally will be jumped on, and quite frankly the Friday candlestick might just be that signal.
Yes, I know all the theoretical cases that people talk about with Bitcoin, but it’s just not being used. Furthermore, what I’m worried about is that during the next cycle we have Central Bank Digital Currencies coming out, which of course will have a major advantage over Bitcoin as far as public trust is concerned. Yes, I understand the argument for Bitcoin, but remember most people are more like your Aunt Millie, they want simplicity. I think Bitcoin continues to go lower at this point.
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