Crypto Update: Bitcoin Holds Support as Market Settles Down After Rout

Since the crypto price peak at the beginning of this year, we have all been seeking the answer to two questions. The first and most obvious: what is making crypto short sellers so happy and making you, the long term investor, so miserable as the value of your portfolio diminishes month after month?

And then there is the big one: what is making prices unable to sustain any type of price rally? Technical analysts have been consistently right in pointing out the negative chart patterns but loath to explain what has been causing $600 billion of crypto value to disappear over the course of the past eight months.

Seeking Answers

You can’t be too critical of those of who read the technical tea leaves.  None of us have come up with a better answer. Over the course of recent articles, I have point out any number of downright absurd scholarly explanations, virtually all using correlation analysis that is largely useless in pinpointing cause/effect.

In other words, if you…