RE: Bitcoin (BTC) Evening Update: A Breach of Upper White Line Scenario
this opinion is not based on a chart but a probability % i have no idea of.
the rise before Christmas was a surge of investment to get rich quick, with the fall in price, due to people selling media coverage or other reason. the price return to its previous low point of Aug/Sept last year. Some will have kept their original buy in, these will not be new investors perhaps not putting more in now unless the price is below their original buy in.
After that surge of investment in the currency before Christmas 2017, The new comers also learnt of all the other currencies and a bit about markets elliot waves and other stuff, More will diversify their investment and Bitcoin will rise slower to gain a new high. reaching the 40 K in 2018 is probably still there, but a more realistic outlook might be to 25 - 30 by Dec 2018.
all alts have pairing such as btc,etc,usd,usdt. as of now the btc pairing is the most widely used, we could see the alts go down when btc go down because that altcoin translates to how many satoshi and then only derive the usd value. If you trade in an exchange and find that btc is moving slowly. When you sell you see the pairing for btc vs the pairing for eth , at times maybe you see more profit in btc than in eth (as said because btc is rising slower) thus most likely you sell in the btc pair. For this I think is one possibility that btc may gain when its price is moving slower. In fact, gaining slowly , constantly. what do you think? this is just one of my thoughts, probably a good one to hear feedback.
If bitcoin goes to 25-30k by end of 2018, like less than 500% gain, would have the worse performance year.
I'm a HODLer and obviously I want to see BTC go to 100k ;) but he may have a point there. BTC is getting all the attention from the media and slowly it will start being less volatile. Also, Futures doesn't help...
Lol! Yet still beat every hedge fund
40K, thats too low. And heres why. When it starts to rise again in march and passes the 20k mark they will be plastering it all over CNBC again in the hope of causing an even bigger crash.. as it rises MORE AND MORE people will get in on it which will drive demand.
Mines can only make so many Bitcoin a day so if the demand exceeds that then you could see the price double in a month if not more.
What people fail to realise is Bitcoin is new technology. Its as important as the invention of the wheel. I recommend everyone to study Bitcoin, there is a reason its the KING and will always be KING.
Why do you think it will rise in March and Not in Feb or in July? Why March?
We should not forget, that in the past years, there was a bitcoin and few alts. Now there is a bitcoin and tons of alts. If Bitcoins Capitalization is to rise more, there are 3 main scenarios as a theory:
I believe only the first one is practical and if this is to happen in near future, all this bans from banks and governments should stop and open opportunities to invest money without barriers.
Kinda "shooting from the hip", That's why we're on here analyzing the price movements so we can get an idea of the sentiment short and long term. At least you're honest with yourself saying your analysis is purely subjective :P