That Bitcoin dropped by as much as 40% at one point, causing investors to scream!?

There was news that the price of virtual currency Bitcoin fell by almost 40% overnight.

Investors are reportedly crying out as it was one of the largest crashes in history.

Recently, with Bitcoin leading the way, virtual currencies have become viewable in MetaTrader (MT4),

so for the first time, I decided to try “Bottom-Top Chart MT4” to view Bitcoin charts.

This is the daily chart of Bitcoin/Japanese Yen as of January 17.

When viewed with the Bottom-Top Chart, it seems that the 2 million yen peak reached in December last year was the top.

The white top-signal is also lit, and all lines of the mid-level indicators are densely packed at that point, making it evident.

Although regulatory actions on cryptocurrencies in China and South Korea are cited as factors for the decline,

charts move technically and honestly as charts, so for any reason

(or even if there is no reason) once a top is established by technical indicators, it will fall for now.

From the chart above, it is expected to continue falling for a while, with a rebound point around 930,000 yen for the time being.

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