Updated prediction after recent correction. BTC still bullish As we see with each drop, some bad news started with Elon Must saying the price of BTC and ETH was too high. On the next day both the BBC and Bill Gates said on separation occasions that they were anti BTC due to environmental issues. Yet more and more banks diving in with now Citi Group suggesting BTC could become the future global currency, with luck we move to the next ATH within the next two weeks.
BTCEUR trade ideas
China mining ban announcement by April - Bitcoin surges 9% China's Inner Mongolia will end all cryptocurrency mining projects and stop reviewing new projects in industries which consume large amounts of energy, as it attempts to meet energy efficiency targets. All cryptocrurrency mining projects - which require huge amounts of computing power and hence use large amounts of energy - will be shut down by the end of April this year. Inner Mongolia is an attractive "mining" spot alongside Sichuan and Xinjiang due to low electricity prices.
The region accounted for 8% of bitcoin mining computing power worldwide, China overall, accounted for 65% of the total!!!!
BTCEUR Experiment - Levels of stupidityTop at 48K EUR:
Price was sitting at my top red-striped 'drop' line. I should have sold half of my trading portfolio. I didn't. Instead I made a new chart saying we would go up. That's plain and simple madness.
Rotation point A:
It passed underneath, which meant downward slope. I should have taken action and sell the remaining half, I didn't.
Result:
Bags and no money to buy the dip.
Now I expect price to visit the red line, so I could sell here. But is it worth it? No, I just hodl.
Principle of resonance I'm not an economist, I have an engineering degree. It is just an interpretation. I tried to looked at the chart as it is waves it the water when it is raining. I randomly matched all-time-high peak with fib arcs and notised patern of peaks connecting with other arcs. Of course, the motion of the curve is not random and can be influenced by many factors but I think another peak coud be somewhere the arrow is pointing.
1 Week to reach €50kNeed some rep/likes to join the chatroom, just having some fun with the chart, please help me get some rep. TIA
Looking at recent large investments into BTC possible trend pointing to another bullrun as seen after the flat line during the 21st to 28th January. I predict €50k EUR By March 5th.....