Lets see how this develops... The recent 500$ high reminds me a lot to the fomo 1200$ spike back in 2013.
Why didn't we spike to 1200$ like we did the last time? I guess that's because there is a lot of leverage trading going on and additionally in 2013 there was no option for shorting. That's why I think the 500$ level looks like a copy to the 1200$ back then.
It should cool down now and have another push before slowly sliding down.
Lets see how it goes, news can change the direction of this very rapidly...
Why didn't we spike to 1200$ like we did the last time? I guess that's because there is a lot of leverage trading going on and additionally in 2013 there was no option for shorting. That's why I think the 500$ level looks like a copy to the 1200$ back then.
It should cool down now and have another push before slowly sliding down.
Lets see how it goes, news can change the direction of this very rapidly...