When Bitcoin’s price adjusted 10%, the mainstream media went NUTS and started touting a crash. Looking at figure 2, it was merely a correction that followed the 50% Fibonacci retracement.
We’re not saying that a cryptocurrency market crash will never happen, rather we’re pointing out that so far, there are no crashes, unlike what’s being touted in the market. For a crash to happen, prices would break within a day or two the support levels of USD 26,200 and USD 22,500 shown in figure 1.
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Rudy Fares
