It ’s N in the editorial department. Rippler, who has a lot of Japanese people, has successfully finished SWELL this year. After that, the price of BTC also divided ($ after a long time.
I would like to consider why this Bitcoin decline happened this time.
By the way, it is possible that the BTC decline that happened this time was a two-step decline. First, altcoins such as XRP were triggered. After that, BTC fell.
And after a while, it can be thought of as a fall that forcibly loss-cuts the usual unrealized loss position.
Look at the chart below.
This time, the chart will be BTC / USD, XRP / BTC. Looking at this chart, you can see that the price decline of XRP is leading.
And XRP / BTC is rising at the second BTC fall. The other altcoins did not drop significantly, so it can be seen that altcoins were not sold very much and only BTC was sold.
From this, 9000 The fall to around the dollar was triggered by an altcoin, 8700 It can be said that the fall to around the dollar is a bitcoin sale and a fall due to the forced loss cut of unrealized loss long.
I think that there were many people who had an XRP position toward SWELL as a timing, so I think that it was set as the starting point.
I mentioned it last time, but I think it was an easy-to-understand drop for those who watched Altcoin. If you look at the transition of OI, you could imagine a situation where the new long position was unsuccessful, so I think we could have predicted a second drop.
For a while, it looks as if BTC has entered a downtrend, but it seems good to not have an unreasonable position until there is a sense of direction. In particular, hard folk are refraining from BCH on 15 days. As a result, there is a possibility that Bitcoin will be priced again with the Altcoin as a trigger.
Author: Crypto Times Editorial Department – Source Post: http://gestyy.com/w5KFE4
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