Same story as before.
But the price is no longer the same.
The September 27 high was around $373.
The October 31 snapshot was around $193.
In just over a month, it fell by about half.
On the morning of October 31, it even made the top five gainers.
btcmedia's morning snapshot was around $196.10, up about 8.61% in 24 hours.
By the afternoon, the snapshot was back around $193.
It still couldn't get past the $200 mark today.
Now, let's look at two numbers.
$178.80, the 61.8% retracement level.
$173.56, the low for this October rally.
The news about the bank-clearing partnership on September 24 is still there.
The news hasn't changed, but the price has already given back half its gains.
The institutional story has been told; the market is still waiting for it to get back above $200.
If it can't get back above $200, the top-gainers list is just a passing stop, right?
#Quant $QNT Just my personal opinion; this is not investment advice