Bearish Trader: Bitcoin Could Be in Trouble, HODLers Should GTFO

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It was expected that the cryptocurrency market would have a calmer end to the year, after what’s been a bonfire of a November and December.

The highest profile cryptocurrency, Bitcoin, has seen its price plummet to just north of $3500 over the past month or two, a long way down from it's near $20,000 peak of last December.

Bitcoin has had quite a journey in the last 45 days. On November 13th, its value was over $6,300. Only one day later, and a day before BCH hard fork, the entire market crashed, and Bitcoin started dropping. Before long, the coin was at its new bottom, with its value being only $3,200. The coin basically lost half of its value, and it struggled to grow ever since.

Mark Dow, a trader who shorted Bitcoin (BTC) from its all-time high at $19,500 to $3,500, said that the dominant cryptocurrency could be in trouble if it does not escape the $5,000 to $6,000 range in the short-term.

In a tweet seemingly poking fun at crypto’s zealous bulls, Dow wrote that he would be saying goodbye...

Read More: https://bitzamp.com/bearish-trader-bitcoin-could-be-in-trouble-if-it-falls-under-3200-hodlers-should-gtfo/