Comment on Bitcoin Price Losses 47% Value in a Month, “Stay Away from Longs” says Trader by Jim Kelly

As long as Tom Lee and Andy Cheung are hyper bullish, bitcoin has a lot further to drop. The entire move last year from $1k to $20k was late dumb money coming in to prop up the price. Now, all of that excess must be burned off to get prices back to $1k. Sucker money will not come back in to re-inflate the bubble. The whales have benefited at the expense of everyone else. The best way to profit is to short the excess out of the crypto markets.