BITCOIN - $100K BITCOIN COMING WITHIN 12 MONTH - CryptoManiac101
Updated
BTC / USD TA
We are looking at very strong support area at 50,100, 200 MA WEEKLY. If we were looking at fractals we would be expecting to see another minor drop followed by an enormous uptrend starting around Q3 - Q4. We should keep in mind that 2015 and just in general all other prior bull runs when compared to 2019 are completely different times even though these timeframes have experienced very strong price suppression. We should also be on a lookout from institutional investors making themselves known within the next few weeks as well as the release of Bakkt, Nasdaq, Fidelity, BlackRock exchanges and few others later this year to the greater public.
One of the bullish indicators at this point is also Volume. On this higher time frame we clearly see that we have similar volume picking itself up... similar to what we have seen back in March of 2017 pre bull run market.
Bitcoin has been a great long term store of value and appreciation of that value from the time it was created. Short term traders (if unbiased) also have great time shorting and longing breakouts. However at this time it is better to hedge your positions if you're an experienced trader and not a holder.
Important Thing to Keep in Mind
Even though it's known that Bitcoin is not idea for transaction use as it can easily be beat by other crypto currencies such as XRP, Bitcoin nevertheless will maintain its 'slow' progression upwards in coming years.
There will only be 21 Million Bitcoin in existence, with massive part of which is already either lost or stolen.
Price Prediction Within next 12 Month
This question can be answered in few ways...
1. If we were to make an intelligent prediction upon looking at fractals and core indicators, we would say that bull run already began on February 4, 2019. Very optimistic prediction for Bitcoin would be $50,000 zone within next 6 month... And yes, it sounds crazy, same as $1,200 Bitcoin in winter of 2013 was crazy to think of during summer of 2013 when it was dangling just around $54 or to even consider a $20,000 Bitcoin back in March of 2017 when it was just around $900
2. If we were looking at general pattern, core indicators and an addition of anticipated events such as Institutional Exchanges going live, larger and broader adoption of cryptocurrency, we would be looking at $100,000 - $150,000 Bitcoin between Q4 of 2019 and Q1 of 2020
3. Regular movement without any major news or institutional inflow would out us around $15,000 - $22,000 this year.
Keep in mind that ALTS are much better alternative to Bitcoin in terms of returns that they are capable of due to their increased volatility.
We are looking at very strong support area at 50,100, 200 MA WEEKLY. If we were looking at fractals we would be expecting to see another minor drop followed by an enormous uptrend starting around Q3 - Q4. We should keep in mind that 2015 and just in general all other prior bull runs when compared to 2019 are completely different times even though these timeframes have experienced very strong price suppression. We should also be on a lookout from institutional investors making themselves known within the next few weeks as well as the release of Bakkt, Nasdaq, Fidelity, BlackRock exchanges and few others later this year to the greater public.
One of the bullish indicators at this point is also Volume. On this higher time frame we clearly see that we have similar volume picking itself up... similar to what we have seen back in March of 2017 pre bull run market.
Bitcoin has been a great long term store of value and appreciation of that value from the time it was created. Short term traders (if unbiased) also have great time shorting and longing breakouts. However at this time it is better to hedge your positions if you're an experienced trader and not a holder.
Important Thing to Keep in Mind
Even though it's known that Bitcoin is not idea for transaction use as it can easily be beat by other crypto currencies such as XRP, Bitcoin nevertheless will maintain its 'slow' progression upwards in coming years.
There will only be 21 Million Bitcoin in existence, with massive part of which is already either lost or stolen.
Price Prediction Within next 12 Month
This question can be answered in few ways...
1. If we were to make an intelligent prediction upon looking at fractals and core indicators, we would say that bull run already began on February 4, 2019. Very optimistic prediction for Bitcoin would be $50,000 zone within next 6 month... And yes, it sounds crazy, same as $1,200 Bitcoin in winter of 2013 was crazy to think of during summer of 2013 when it was dangling just around $54 or to even consider a $20,000 Bitcoin back in March of 2017 when it was just around $900
2. If we were looking at general pattern, core indicators and an addition of anticipated events such as Institutional Exchanges going live, larger and broader adoption of cryptocurrency, we would be looking at $100,000 - $150,000 Bitcoin between Q4 of 2019 and Q1 of 2020
3. Regular movement without any major news or institutional inflow would out us around $15,000 - $22,000 this year.
Keep in mind that ALTS are much better alternative to Bitcoin in terms of returns that they are capable of due to their increased volatility.
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