Everyone seems to keep asking the same question, whether Bitcoin will keep going up or whether there might be a correction overdue and to come within the next weeks. To name it upfront, there is never any guarantee in trading and especially not in the Cryptosphere but it seems like it´s going higher 😍
Just a few hours ago we´ve been fighting with the latest restistance line, as you may see in the chart below. It couldn´t get broken on 4 attempts, which made me first believe in a correction being on it´s way...
Anyways against all expectations Bitcoin made it once again and simply crashed through the resistance with full power, directly winning more than 500 points until now. It just seems like we´re unstopable these days. Might it be through printed Tether or fresh money flowing into the market, we don´t know for sure but anyways let´s enjoy it 😉
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Bitcoin is like stairs going up and up without no end, I am almost sure that bitcoin will hit $1 in a few years and even in two years maybe. It's the most expensive currency in the world, will it go up ? Yes of course, I don't thing that something in the world can stop bitcoin, it's a ruthless economic machine. ☺
I hope you meant 1 million and not just 1$ :P
yes I will not even correct it, this is how I am exited about bitcoin and forget the main word, I keep writing comments about bitcoin it make me crazy, the thing that I am living in Russia and here an apartment (flat) cost about 1 million rubles and bitcoin it's now almost one million ruble and we can buy an apartment here already with one bitcoin what make me crazy about BTC ! lol ☺
A major correction will occur as weak hands enter the market. In the long run bitcoin will be worth a ton of money no doubt about it, but in the short term...well, anything is possible...I see people buying the CME hype, while Wall Street will short the futures.
I think it will be an interesting race because a lot of people will ad the new asset class "crypto" to their portfolio for long term. As long as we are in the adoption phase of blockchain as a technology, i expect bullish but highly volatile markets.
We´ll see highly volatile markets for sure. It´ll go up and down like crazy!
Let them short it and feel the power of BTC by loosing all their beloved money!
short term I see everyone buying into the CME futures hype . So I do believe it will keep rising tremendously. But for me personally it’s time to position myself more into specific Alt coins . I’m a current holder of bitcoin but I’m losing faith in the technology. There’s too many transaction fee and the transaction are very slow . For example it like using a cell phone today that was built in 2009 it’s not up to date . I believe bitcoin is MySpace and I’m on the journey to finding that Facebook. It’s all about positioning for me and I don’t follow the herd . Thanks for this content
I would not say bubble, BTC is here to stay in one form or another for the long run. We are due for an actual week over week correction though..
https://steemit.com/bitcoin/@pawsdog/12-3-2017-the-market-view-and-trading-outlook
@pawsdog
Thing is Bubbles are measured on the economy we knew so far. But Bitcoin is different from anything we´ve been seen until today
Every bubble is something new and never before seen, that's why it's a bubble and not the norm..
https://www.investopedia.com/articles/personal-finance/062315/five-largest-asset-bubbles-history.asp
Love the analogy, and do agree... even Litecoin is far superior!
Yes in deed ! HODL
I'm a value long-holder, so that's all I ever do!
Smart man 🚀
Ofcourse bitcoin wouldn't just be going up constantly.
It is subject to market demand forces..A rise and fall in the price of bitcoin will definitely portray a worth in it's value and supply.
Thanks for your superb update @steembusiness
Long run: Up by a lot :)
Yeah, I actually watched it storm pass $11,000 earlier, and was pretty excited, but the whole Tether thing still has me a bit worried.
I´ve been really worried at first as well but somehow I think it will only affect it in the short run and not for too long.
Bitfinex may have the most volume, only due to the fact that they have the most manipulators, but if they were to disappear today, I believe it would be better for the cryptocurrency market overall.
How do you calculate the resistance line? Or is that just something you see when you look at the charts?
We could see it fall back from that line some times, so that I see it as a resistance.
Nice post! I upvoted and followed you. Can you check my last blog post about crypto: https://steemit.com/cryptocurrency/@cryptoizotx/crypto-market-sentiment-update-december-3-2017 ?