BTC/USD: Long term forecast.
This is how I see things panning out.
In the next week I expect a correction to ~$9200, starting a sustained rally towards BTC's next All Time High.
I do not feel the rally has started yet. This current price action will be seen as a tiny, inconsequential blip in the radar. You may be able to make a small amount of money by shorting the stock down to $9200 to $9500, if you're lucky, but I think a lot of short sellers will find themselves in a unenviable position in a couple of weeks when things really start to heat up.
Personally, I'd be buying some BTC and just putting it in the draw for a few months. I think, in the next couple of months, you'll be glad you were able to pick up BTC at sub-10k prices.
I'd wager that the US Chinese trade war - SPECIFICALLY: intensive Chinese currency manipulation - will be the trigger for the next intensive Bitcoin Rally.
Here are the all-time highs (and dates) I'm anticipating, depending on which long term trend line it follows.
Option #1:
1st June 2020: $110,000
Option #2:
26th July 2021: $250,000
Over the next year, Donald Trumps' election prospects are likely to determine which of Option 1 and Option 2 actually eventuates.
In the next week I expect a correction to ~$9200, starting a sustained rally towards BTC's next All Time High.
I do not feel the rally has started yet. This current price action will be seen as a tiny, inconsequential blip in the radar. You may be able to make a small amount of money by shorting the stock down to $9200 to $9500, if you're lucky, but I think a lot of short sellers will find themselves in a unenviable position in a couple of weeks when things really start to heat up.
Personally, I'd be buying some BTC and just putting it in the draw for a few months. I think, in the next couple of months, you'll be glad you were able to pick up BTC at sub-10k prices.
I'd wager that the US Chinese trade war - SPECIFICALLY: intensive Chinese currency manipulation - will be the trigger for the next intensive Bitcoin Rally.
Here are the all-time highs (and dates) I'm anticipating, depending on which long term trend line it follows.
Option #1:
1st June 2020: $110,000
Option #2:
26th July 2021: $250,000
Over the next year, Donald Trumps' election prospects are likely to determine which of Option 1 and Option 2 actually eventuates.
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