If you only checked the markets 2 weeks ago you'd still think we were in a bear market. However over the last few days Bitcoin has exploded to the upside potentially signalling a trend reversal.
Honestly I was quite surprised when it made this rally. Previously I though Bitcoin getting out of the $6500 dollar range to $7400 was a victory in itself. Now that Bitcoin has breached the physiological barrier $8000 I'm starting to take this run a bit more seriously and think less of it as a dead cat bounce. On the other hand, while impressive this rally doesn't mean a whole lot unless it can hold the $8000 Dollar level. At the time of this posting Bitcoin is at $8216, giving it $216 of wiggle room before it retests resistance. Interestingly enough when Bitcoin hit $7400 it didn't give back much and continued higher after a small consolidation period. Will that trend continue? We'll know in about a week or so.
That's nothing.Waiting for big pump.
you don't even need much of a pump to make decent money if you bought throughout the bear market like I did. If Bitcoin moves back to $15000 by the end of the year that's enough for me to quit my job and trade fulltime.
Well..you are right.If you have some big money to put in,and wait 15K.If you put 1000 usd and get 2000?That's nothing.
I've invested enough money into this to make a down-payment on a house. (Which come to think of it, might've been to much). Believe me when I cash out I'll have bit more than $2000. How skin do you have in the game?
Great analysis here !
thanks