In his most recent post, Burniske told his followers that the market needs one more big flush that will price in all the pessimism among market participants. According to various sentiment indicators, most cryptocurrency traders and investors are still in fear despite the relative calmness of the market.
Things probably don’t get as bad as the ‘08 doooooooooomers say, but we likely need at least one more big flush to price in all pessimism, hit rock bottom of despair, and have firm ground upon which to build incremental optimism .
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