Any thoughts on what the recent decision from the IRS on ruling Bitcoin as property is going to do to the price now?
Thing is is its literally controlled by China not technicals $382 as support doesnt mean anything when we're following Chinas every move...
I agree. This is the main reason I cashed out at $410 this morning and will hold fiat until after the 15th, and possibly the 18th. Every time we think the bad news is priced in, the market proves otherwise. The reason the value will continue to drop until those dates is because I can't be the only one with this mentality right now. I don't care if bitcoin drops to $100, I will not buy until this China crap is gone and over. Which as it seems, might never happen...
I think you could possibly be correct here. Look at the charts from the past two days. Huge jumps around 12-1AM EST both nights, which would line up pretty much dead on with your chart.