20190114-Bitmain-BTC goes down to $1800?


Crypto Cowboy:

Problem with BTC space – centralization of the BTC.  
  
The 6 biggest mining companies in the world are calling the shots and they are mostly Chinese.  Also big banks are entering the space.  
Right now it looks like Bitmain is going down. Bitmain – has gone through a lot changes due to price volatility, political pressure, regulations 。。。

-Two CEO/founders are going to step down.
-closing its 500 million project in Austin, Texas
-closing its Israeli research and development office 
-cutting up to 50 percent of its staff 


Probably because of it, there are a lot of big dormant wallets (50 – 100+ BTC) that are becoming active and more on the selling side.   However, a lot of these wallets are active in the OTC market not retail but their activity might still affect the prices in the retail markets. 

So in the short-term, BTC price might even go down to $1800.  If it does, Crypto Cowboy thinks it’s a good buy!

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