This one goes out to Janet Yellen- BUY BITCOIN! Current MC: $159.8B
The time has come to fully embrace blockchain (and blockchain inspired) technologies in order to unleash their full potential. We are on the cusp of a technological, social, and financial r/evolution. The use cases for these technologies are growing daily and the more people that are involved the better. Bitcoin is the king of this crypto space and will stay on the throne for quite some time so hold onto your BTC for the long haul people!
In today's chart you will see that we are slightly overbought and could retrace back down sub $4300 today. The volumes seem to be picking up as the network congestion has cleared somewhat. Fees have been going down slightly but are still high in my opinion. Alt-coin markets are LOVING these conditions that Bitcoin has presented for itself as users look to faster and cheaper alternatives in the meantime.
Likely Scenarios:
- BTC holds above $4250 where it has had strong support many times but mostly stays above the moving average
- BTC holds in the $4350-4400 range until volumes resume and we can attempt new highs
TLDR Version:
Bitcoin is not going anywhere, the only way is up (for now). Bulls have charged in full steam this month bringing their stocks and precious metal money with them. Expect prices to hold above $4250 all day.
Price Target:
$4420
*Never invest more than you are willing to lose and always do your own research before making any investment decisions.
Please Remember To:
Check yesterday's forecast:
https://steemit.com/bitcoin/@hotsauceislethal/bitcoin-price-forecast-8-27-2017
Feeling salty about missing the crypto boat?
https://steemit.com/bitcoin/@hotsauceislethal/how-to-conquer-fomo-fear-of-missing-out
Don't worry:
https://steemit.com/bitcoin/@hotsauceislethal/bitcoin-s-hype-cycle-is-just-getting-started
Want to know more about me?
https://steemit.com/introduceyourself/@hotsauceislethal/hello-world-my-official-steemit-introduction
Fantastic Documentary About Relevant STUFF! (MUST WATCH!!!)
https://steemit.com/cryptocurrency/@avii/mind-over-money-documentary
BTC has been quiet for a while now around the 4300. Today even gold is up, something going on. Hodl on tight
The network congestion is leaving a bad taste in people's mouths. Paying a ridiculously high fee and then having to wait forever isn't the best business model... This is all temporary, once it clears up and they introduce the Lightning network and atomic swaps then there will be nothing stopping BTC from going to the moon!
usually only quiet for a week and going crazy again. lol. Let's load up
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BTC could actually save the FED, and JY's ass.
It COULD... They are already investigating the use of XRP for payments now.
Thank you.
What do you think of the Bitconnect halt? Do you think it is a scam or a hack? Will it affect the price of the BTC?
Bitconnect will have no effect on the price of BTC, I think they might have actually set up an inside job to perpetrate the hack, but there really isn't any evidence pointing to any real conclusion. If it was a random hack then they have done a very great job of pulling the site back together and keeping people hooked.
If anything, people are now more confident in Bitconnect since they DIDN'T pull an exit scam and they re-opened. They even paid out for the missing days, although a very small percentage. I'm interested to see what will happen once they allow Bitcoin withdrawals again. The price of their token has really stagnated since the event.
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