The tax man hates bitcoin . Too much work keeping accurate records on your every transaction.
It is in their best interest to force citizens to trade in fiat - Bank of america winning patent for crypto exchange is just the first step.
Bittrex to force USD pairing?
Its in Governments best interest to short bitcoin - Could the introduction of & CBOE be a nail in Bitcoins coffin?
Was 7.7K the bottom?
Once every fiat trade is recorded in a government blockchain - tax records/collections will be perfect.
Instant complex calculations showing just how much you owe Big Brother thanks to the gold old blockchain
Add your biometric identity to that complete with handheld instant record of EXACTLY how much you have and how much you owe and every transaction you have ever made.
Imagine years of these records stored on a blockchain forever - Every transaction you have ever made stored and available in an instant.
Think of this cost savings in the public service sector and how much TAX$$$ they can potentially collect.
This is the end of the world as we know it!!
On the Chart:
Drop #1 is a clone of Drop number 2 - Same exact distance
Drop 1 represents a 19% decrease in price
Drop number 2 is a 23% decrease
We should move sideways for a day or two before hitting resistance
Drop#3 (another clone) could potentially take us to the 6.1K range for a 1:1 move - 1:168 would take us down to around 5.3K
Hope it doesn't happen but if it does - be ready! Risk Management folks - without it your going to end up a nothing burger!