It looks like Bitcoin is headed to $10,000-20,000 by the end of 2019

Bitcoin is headed up; $10,000-$20,000 is possible this year

While no one can perfectly predict the price of Bitcoin it is possible to estimate the price movements if you've been in the cryptocurrency community long enough to know the current mood (sentiment) and understand technical analysis on the charts. The main aspects I pay attention to are volume and sentiment. The volume is steady increasing on a weekly basis similar to how it was during the run up of December 2017. We saw in less than a month the price of Bitcoin grow from around where it is right now to almost $20,000.

Today the fundamentals are far better than they were in December 2017. In December 2017 to be honest Bitcoin simply wasn't ready for it. The technology could not scale because the Lightning Network wasn't up and running, the market also was fragmented by Bitcoin Cash and other forks, and most importantly it was not easy for institutional investors to get in. In 2019 the situation is far better as institutional investors can get in due to there being many custody solutions. In addition we are on the verge of true mainstream access on Wall Street (better than an ETF) with Bakkt, ErisX, Tzero, and possibly more.

Right now it looks like Bitcoin is meeting resistance at $6400 and particularly $6800. After $6800 there does not appear to be a lot of resistance stopping a run up to $10,000. If the price gets to $10,000 this could trigger the same sort of media attention we saw in December 2017 and a flood of interest in buying crypto could return. Institutional investors and retail investors will have a much easier time bringing large amounts of money in quickly which wasn't even the cast in December 2017.

On the bright side I can firmly say that I think the bull market is here. At the same time if the run up to $10,000 and then $20,000 happens too fast (such as over the course of a month like last time) then we are also likely in for a crash back down because it will probably not be sustainable. So rather than hope for $20,000 by July which is certainly plausible, I would prefer we get to $10,000 by July and stay at around $8000-10,000 for a couple of months or so. This would allow enough people to buy in at these levels and allow the price increase to be more sustainable as it moves up.

At the same time now is probably the worst time to have to sell crypto. I feel guilty with every crypto I'm forced to sell at these prices. Particularly alt tokens which have a future. Steem is cheaper than it has ever been and the only reason I have to sell it at this time is to pay bills. There are also some alt tokens going for literally pennies which in a few months from now could be going for dollars. It's definitely in my opinion the time to be buying, buying, buying.

That said each of us has to make our own decisions and this cannot be interpreted as investment advice. I'd buy, but someone else might decide to sell.

Note: Some old posters are buying Steem right now and in my opinion are wisely buying up altcoins. Particularly TrevonJames: "[VIDEO] CONTINUE TO DOLLAR COST AVERAGE INTO ALTCOINS". Dollar cost averaging is a way of slowly buying a large stash. The longer the price remains at these low levels the more time average folks have to dollar cost average buy these tokens.