Oh the Humanity! Crypto Carnage as Bitcoin is down Almost $8000 from its Highs

by John Galt
December 22, 2017 09:20 ET

Millennial know it all’s, meet gravity:

If this isn’t the start of something bigger to the down side the BOHICA when the crash really does come. Technically speaking however, there is little reason to expect major support until this breaks down below the $6,000 to $7,000 range with substantial volume.

All of the cryptos are experiencing this year end profit taking so if anyone thinks this is over, well there is a week to go in the year roughly and with the Wall Street crowd going on vacation, do not expect a bailout. This is why an old architect friend of mine once said, never design the emergency exits with 32 inch wide doors at a weight loss clinic as that many fatties rushing for the exit will only block it for everyone and create a disaster.

It would appear that Bitcoin’s exits have a yuge problem this morning.

2 Comments on "Oh the Humanity! Crypto Carnage as Bitcoin is down Almost $8000 from its Highs"

  1. John Anderson | 23/12/2017 at 00:35 |

    Nice title and awesome graphic. I want that on a t-shirt

  2. jhpace1 | 23/12/2017 at 05:41 |

    Isn’t it interesting that Bitcoin starts losing money just days after the SEC futures open for Bitcoin. Large investors – manatees – whales – coming in and making more money on the shorts than on the longs? Where have we seen this before? Oh yes – everything else in the US/UK markets, from gold to anything that threatens US Treasuries.

    The Big Boys take back their fractional fiat reserve banking system.

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