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Bitcoin to 70,000 Next!Agree with bitcoin or not I want to state some facts here that are indisputable: 1. Bitcoin can never replace a currency with a central bank as a medium of exchange in our current economic system because it doesn't have an expandable supply. You can look at an increasing money supply in two ways - 1) It devalues savings, creates inflation and everything else we hear about, but 2) The devaluing of savings encourages as much spending as possible and we know from economics that spending must equal income in the economy, so it results in great economic growth. It devalues debt over time, making debt easier to pay in the long run, it creates room in the price for increased employment or investment in capital. Now aside from looking at an expandable money supply in a negative vs positive light, the Federal Reserve's mandate from congress is to ensure price/market stability (not stocks, but all markets such as money markets, job markets, etc...). So over time they've developed tools, most recently the widespread use of the Repo Market/Lender of Last Resort after the 08 GFC. Most of the assets held by firms in 08 were long term debt like mortgages and the problem was that the profit would be realized much later down the line, so when selling these assets, they would sell at a discount, crashing markets. The Federal Reserve now steps in and exchanges these assets for cash to the bank to operate. If the bank's default, the Fed has assets to back the cash. This is what they do permanently through QE, instead of lending, they buy these assets to keep the loanable funds of banks at their target interest rates. This is just an example of how an expandable supply can help the economy in the short run. Back in the 1929 depression, we found it hard to get back to full employment, it was a 10 year depression basically caused by the inability of the government to effect policy that could help the economy move. With bitcoin we would see economic hardship last much longer, not to mention an initial decrease in the standard of living. 2. My next argument for bitcoin is that you have to remember nothing is inherently valuable because something is only worth what the next person is willing to pay for it. If water was scarce it would cost millions for a few bottles, so it all depends on so many factors, least of all intrinsic value. So bitcoin will keep rising as long as people are willing to buy it and why would they continue buying it? Well it can be used reasonably anonymously, low risk of being stolen, quick transfer times, low fees, virtual and more. 3. The last thing that people don't quite get is that any market, stock market, forex market are determined based off supply and demand. With currencies the supply is expanding/contracting regularly, but with bitcoin it's consistently contracting versus the USD it's valued against which is always moving. So eventually bitcoin's supply will be so limited that's it's only going to get more volatile over time because of the low liquidity at each price. It's far easier now for Bitcoin to move from 54k to 100k than it was for BTC to initially move from 3k to 20k. This lasts as long as the USD remains weak overall and people's demand for BTC consistently outweighs the supply...
COINBASE:BTCUSDLong
by UnknownUnicorn15362357
Bitcoin : The Rocket Is Ready to be Launched Again 🚀🚀🚀💡 Trade Idea 📈 Buy Order BTC/USDT @ 50810.03 🎯 Target Profit 53808.27 🛑 Stop Loss 49314.50 ❌ Do not risk more than 1 % of your account on each trade 🙂 Good Luck ! Description: The price yesterday tumbled with a huge selloff toward the daily key level @ 48124.65. The price posted a fake breakout with a form of double bottom. Currently, the price is bouncing on the neckline of the double bottom which might lead to a move upward to the 53808.27 level. ------------------------------------------------------------------------------------- Please press “Like” if you appreciate the trading idea 👍 “Follow” for more trading ideas in the future 👀 “Comment” below to share your thoughts with us and other traders 👥 ------------------------------------------------------------------------------------- Risk Disclaimer: All trading ideas published by “collegeofpips” are for educational purposes only. These posts can help you to enhance your trading skills, but please do your own research before opening any trading position. ⚠️
Long
by PriceActionDesk
9
Bitcoin A High Probability to Reach the 57212 Level 🚀🚀🚀 A quick analysis on Bitcoin by using the Elliott Wave Theory. Have a look on the video to see where most probably the price of Bitcoin might reach. 🙂 ------------------------------------------------------------------------------------- Please press “Like” if you appreciate the trading idea 👍 “Follow” for more trading ideas in the future 👀 “Comment” below to share your thoughts with us and other traders 👥 ------------------------------------------------------------------------------------- Risk Disclaimer: All trading ideas published by “collegeofpips” are for educational purposes only. These posts can help you to enhance your trading skills, but please do your own research before opening any trading position. ⚠️
Long
by PriceActionDesk
6
Bitcoin : What Is Next ? 🚀 🚀 🚀 Please press “Like” if you appreciate the trading idea 👍 “Follow” for more trading ideas in the future 👀 “Comment” below to share your thoughts with us and other traders 👥 ------------------------------------------------------------------------------------- Risk Disclaimer: All trading ideas published by “collegeofpips” are for educational purposes only. These posts can help you to enhance your trading skills, but please do your own research before opening any trading position. ⚠️
Long
by PriceActionDesk
1
BITCOIN: PUMP or DUMP? (Answer in post)Hello friends! Since the last publication, the BTC price movement has been clarified by the model of the formed correction. At the moment, we are considering 2 alternative options in the next several days, as well as 1 option in in the next several weeks. Speaking of the perspective in the next several days, as before, we expect the end of the triangle formation. On the breakout of the key support and resistance levels of the model (red and green), you can make good trading operations. Speaking of the perspective in the next several weeks, we still expect the price to drop to the 8000 level, possibly lower. We wish you every success!
BITFINEX:BTCUSD
by UnknownUnicorn3511625
50
BTCUSD: Local prospect (23.09.2020)The price is decreasing within a downtrend, as evidenced by the downward Ichimoku cloud on H4. Besides, the RSI on H4 is near the oversold zone, which indicates a possible start upward price correction. On H1, the price is near to the local support level at 10300, and the RSI also declined to the oversold zone, signaling the imminent completion of the downward movement. In general, we should expect the price to break out of the support at 9900 soon. Locally, we recommend selling BTCUSD from 10650-10750 on price corrections upward.
BITFINEX:BTCUSDShort
by QubitLife
4
The kettle has been turned onBears are losing the attempt to play the downtrend and instead turning resistance areas into support,the channel has not broken and support still stands 10.6,10k.The accumulation over the past 3 months is setting up for a huge ending quarter for the market in my personal opinion. I think this test of resistance may be the right amount of pressure at exactly the right time for the bulls to break through. Weekly: Very short term bearish.10.7k-10.4k Monthly: Bullish trend occurring with increasing levels of volatility for Big 15 swaps.
Long
by Glo1235122
BTCUSD: Analysis using Ichimoku 14/07/2020H4 On D1, the cloud is directing downward, indicating an downtrend. The price also broke the downtrend line at D1. Conclusion: Locally, we recommend buying when the RSI reaches an oversold level on the H4 near the Fibonacci level of 38.2%. H1 At H4, the cloud is directing upward, indicating an uptrend. The RSI of H4 is not far from the oversold level, indicating a possible end of the correction. Conclusion: We recommend buying when the RSI reaches an oversold level on the H1.
BITFINEX:BTCUSDLong
by QubitLife