Bitcoin has been on a rollercoaster ride for more than 10 years now. Parabolic price surges are as common as 90% drops in value for basically every coin or token in the entire cryptocurrency space.
Twitter user and veteran of the cryptocurrency trading scene known as ‘Trend Trader’, just perfectly summarized the world of Bitcoin while simultaneously laying out the $10,000 Bitcoin theory.
$BTC-Theory to 10000.
1. Market Makers convinces CT to go USDT on atleast 50-70% portfolio. CT says ✅, as a result BTC dips below 8000.
2. More FUD, more selling & MM keeps buying the dips till 6500-7000 while we proudly keep selling into stables even sub 7200 hoping for 5000.— Trend Trader (@TrendTrader13) June 8, 2019
The theory comes complete with everything we expect in the cryptocurrency space. Massive volatility including wild bull runs and crippling bear markets.
3. Some Alts run & we keep going in&out of BTC to trade it fearing BTC dump too at the same time, end result = less BTC&USDT than u have today
4. MM starts pushing BTC ?, CT advices to short the bounce hard & provide liquidity. MMs r ? & BTC crawls back up with its Iron-Claws— Trend Trader (@TrendTrader13) June 8, 2019
5. Soon Its 8000+ again, MM makes a Green Candle appear and its time to use ur USDT from Step#1-3 to FOMO back into BTC
6. There you go,10000!Solution.. Decide what you trade for,
1. USDT ?
2. BTC ?
Going back and forth in BTC-Stable will get half d CT Rekttt.Thread Closed
— Trend Trader (@TrendTrader13) June 8, 2019
Jake Stolarski, a senior trader at Cipher Technologies, is predicting a slightly bumpier ride. He recently told Bloomberg the cryptocurrency markets could be some short term trouble. According to GTI Vera Convergence-Divergence indicator, crypto markets could suffer during this volatile time.
“The market is in an identity crisis, trying to find a place to stabilize. The key technical levels have been creating market volatility, for sure, due to sudden shifts in sentiment.”
There is an overall bullish sentiment in the cryptocurrency markets right now. But as always there are those who believe the original digital asset will fall to zero along with the rest of the crypto markets.
And even if the market remains bullish, the dips and volatility will surely continue along the ride. Maybe this zany Twitter thread is as good a guess as anyone’s regarding what will happen on the way.
