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Monday, December 3, 2018

A dead cat bounce for bitcoin - Part 2

https://sg.finance.yahoo.com/news/bitcoin-price-falls-3-900-084726188.html

We were right about the dead cat bounce.

Bitcoin prices couldn't sustain the short rally after rising above US$4,500 and this proved that the rise was due to the short-covering.  By right, the bitcoin prices would continue to rally because investors rushed in the buy at recent low prices.  However, the bitcoin prices fell again which showed that more investors took the opportunity to cash out.

http://sg-stock.blogspot.com/2018/12/a-dead-cat-bounce-for-bitcoin.html

Why are more investors ditching bitcoin investments now?  Read our previous post to find out more.

http://sg-stock.blogspot.com/2018/11/a-financial-analysis-on-initial-coin.html

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