Most likely 6000 was the bottom. And we are going to challenge that long term bearish trendline before April 22nd. But even though things look good, we should also be prepared for the worst. Worst case we could be looking at $4000 or even $3500 for a short while to really shake out the last ones. At that point there wont be any more sellers. The volume would be something like 5-6 billion for cryptos as a whole on the daily.
Very likely we are in the accumulation phase now and that we will see a slow rise towards 12k and then a parabolic run towards retesting of 20k. And I suspect it is very likely we will push through and head for 50k this year.
$50k this year? I like your thinking! Personally, I am around the $20k-$25k mark as a high for this year.
It doesn't matter whether it's $20k, $25k, or $50k this year. All I want is profit. Whatever "k" we are aiming for for this year, I am still very much convinced that it's better than dumping my idle cash with my bank.
All you want is profit? I think you will lose out my friend. You have to be prepared to hodl for years if you want the real gains. If you're just in it for some quick profits you'll never see those huge ROI's. We all want profit, but are you in cryptos for the right reasons? Do you understand the fundamentals? Or are you going to sell Bitcoin when it hits 15k..then buy back in when it hits 25k..then sell when it goes back down to 12k..then buy when its at 30k..then sell at 20k..then buy in at 60k..then sell at 20k.
I mean..people do lose a lot of money even in insane bull markets. I know people who actually LOST money during 2017. A hodler would have made 20x-30x throught 2017..but a mongoloid trader without the right skill/mindset could easily have lost all his money.
I can't agree with you less. In the real sense, making profit all comes down to perspective. That's why we have both short and long term trades. They both serve their purposes.
Sure. Except 90% lose when daytrading. You're up against experts and robots. But the market need losers as well. And in that sense you will serve a purpose :)
Last year at around this time (2017) I predicted $7000 bitcoin on january 1st 2018.
I was way off..as Bitcoin reached 20 thousand just before christmas. But I can see now that I was just about spot on, except I didn't expect the parabolic run to 20k.
I'm not saying I'm nostradamus or some genius chartist. I'm just looking at the fundamentals. 50k might be the high point in the next year or so. And we will come down from there, to perhaps 25-30k, or even less. But I don't think that matters much. When we go above 20k towards 50k more people realize where this is going. And the pressure builds up. It's almost a mathematical certainty. It's strange how more people don't see this?
Mathematical certainty?! Now you are sounding like John McAfee. :)
Haha. I added "almost" just to be a little bit less crazy :)
3K will come after summer. Great time to trade in fiat for btc :-)