Another Crash incoming as CME Futures Expire? Litecoin Affected?
Updated
Reasoning:
Another crash incoming from CME futures this time on the 26th. This is due to the futures contracts expiring. There will be massive manipulation on the price of Bitcoin so that the people who hedged against it get more paid out. This will cause the entire crypto market to collapse again as every altcoin is pegged against Bitcoin.
Conclusion - Short
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Another crash incoming from CME futures this time on the 26th. This is due to the futures contracts expiring. There will be massive manipulation on the price of Bitcoin so that the people who hedged against it get more paid out. This will cause the entire crypto market to collapse again as every altcoin is pegged against Bitcoin.
Conclusion - Short
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Note
It seems that Bitcoin may move lower faster than expected as news that South Korea is taxing Exchanges with a massive 24.4% per year! This has ultimately pushed down the price down of all cryptos. ~Conclusion: Short~
I believe that the price of cryptos will take a slow descent until the 26th and then another major crash as the bitcoin futures expire. From that point, we will hopefully have good news to push the price back up or in a worst-case scenario, a drop to $4000 with alts dropping back to the levels before the major bull run.
Note
At the moment, I am not seeing the signs I anticipated in the hours before the crash. It looks like the bears have not moved to push prices down prior to the futures expiring but there still is a chance that it could happen.Note
Bitcoin:The crash has come with an expected double bottom as it would be WAY to hard and costly to manipulate prices down below 9000 and would be against what the futures holders master plan. Bull run expected after this.
Buy: $9200 | 75%
Buy: $8500 | 25%
Altcoins: When bitcoin bottoms at these prices buy up. It is very unlikely that bitcoin will drop further.
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