While bitcoin was tanking, something very interesting was happening...
People were again searching for bitcoin more so than just about any other point within the last twelve months...
And as they say, any publicity is good publicity, even if it might be for negative reasons.
Check out the surge in interest as bitcoin was making lows last week:
The search interest for "bitcoin" pretty much tripled overnight.
As the price was falling retail was likely suddenly becoming interested again
I'm not sure about you but I had numerous people asking me if it was a good time to be buying bitcoin.
To all of them I said the same thing...
"I think it is, but you are going to have to make your own financial decisions"
I also read something interesting about retail buying the bitcoin that institutions were selling on the way down...
More on that can be seen here:
Bitcoin is perhaps the only asset I have ever seen where retail seem to have a better bead on things than institutions.
Then, of course there was also the tidbit about a DDOS attack at Bitmex likely causing the plunge all the way down to $3,800...
They said "sorry", but the price is still wrecked.
How about since you (Bitmex) caused the drop from $8k to $3.8k, you go ahead and run the price right back up?
I'm not greedy, I'll take $7k at this point and we can call it good.
Please and thanks.
Stay informed my friends.