Bitcoin Price Prediction December 12 2017
Bitcoin Price Prediction December 12 2017. Above is the 1 hour chart showing a 1 hour downtrend getting huge support at $19000. Major resistance at $19700 with even more coming at $20000. Parabolic Sar is in a downtrend look for a 6 hour selling window before any upswing occurs. ALTS like ETH Litecoin should make moves higher until $20000 falls.
A major Tether pump occurred over the weekend $400 million over a 2 week period is a major factor in the upswing can it reach $20000? Some people are predicting a limit up situation on Monday as shorts are forced to cover over the weekend.
Come on Bitfinex, you didn't print over 400 million Tethers in two weeks to not breach 20k! pic.twitter.com/bco6JyuOHY
— Bitfinex'ed 🔥 #DontGetTethered (@Bitfinexed) December 17, 2017
Factors affecting the price of bitcoin include the amount of delays in transactions. So I dollar cost average bought for years, and this year I stopped buying more crypto with USD because my contributions were tiny compared to how much my portfolio was changing in value over the same time period.
Now, I’m considering DCA selling since we’ve risen so much, and there are other things I’d like to use my earnings for (primarily paying off debt). Does anyone have recommendations for the best DCA strategies? Should I sell a specific percentage at regular intervals (every week/month/etc.) or should I sell a specific dollar amount at some interval?
Also think about tax strategies: does the sale put you in a higher marginal tax rate and are you going to use LIFO vs FIFO. If you’ve been buying for years you would probably want to sell your long term holdings first to avoid the short term cap gains tax which could be as high as 40%.
I do not own any bitcoin this is just an analysis of the current situation.