Bitcoin Finally did it...
Bitcoin has been on a bull run ever since it was listed on the first exchange, the price will go up and then it corrects, then it goes up again, then it corrects... People see this as an issue because Bitcoin isn't a stable store of value, but why should it be? Why should Bitcoin not go up exponentially when we are comparing it with a never-ending exponentially inflationary store of value that can be printed whenever a central bank wants? Why should it be a stable store of value when the value Bitcoin is storing is being created through people's time, through goods and services, and these are always increasing exponentially?
Gold is a stablish store of value, but that's mainly because governments, banks, financial institutions, they are all controlling the price of gold with their "regulations"! If gold was allowed to be free, if we actually had a free-market, gold would be valued much differently than it currently is...
Bitcoin is probably the first case of a free market that we've seen in a while, especially with the implementation of decentralized exchanges that no one controls, these are true free-market builders! Even BTC whales can only control the price for so long before letting it go, they don't have the power that banks have over gold... Bitcoin is a capitalism making tool! And with each passing day this is becoming clearer and clearer!
TA:
After waiting for months, Bitcoin finally did what I've been waiting and telling you guys for so long, the weekly MACD finally closed with a bullish cross, this is really bullish! Probably one of the best bullish signs a coin can have, a weekly MACD bullish cross shows that the trend has changed to BULLISH, and not any trend, the weekly trend! To flip back to bearishness it would require the price to move down by a very very very long time, and in this stage of the market, I can't see it happening...
The price also went to the golden pocket (the pocket from the fib level 0.618 and 0.65 of the rise up), which is great, golden pockets are always great places to short or long depending on the trend shift.
The price is also above the daily 200MA and the weekly 100MA, which will both act as strong supports for any downside movement.
The weekly 200MA, which is the STRONGEST support we can get, is right now at $5300, so even if we go down, that's the absolute worst-case scenario in my opinion, before the market dies...
Basically Bitcoin is in a really strong position right now, we might see a push down to retrace from this rise up, probably to $7600 which is where the golden pocket from the rise is, before continuation of the uptrend...
In my opinion, I'm 90% sure the bear market has ended, will flip to 100% when we pass the previous all-time high, any dip is for buying! Any increase in price is for buying, basically, any time is a good time to buy from now on...
In my opinion, now is a really good time to go full crypto, Bitcoin is only going to increase in price, trying to dollar cost average will probably only make someone buy at higher and higher prices, and altcoins have been breaking out here and there, and when Bitcoin finally breaks the last All-time-high, which will probably happen Q3-Q4 of this year, all alts will probably go for a run too, in one of the craziest alt season we've seen so far.
This next bull-run will probably go down in history books, we are talking about true utilization of a new financial system and like @theycallmedan likes to say, a new web... web 3.0, and both of these will be mixed with institutional investment mixed with retail investment, we are talking about an inflow of builders! We are the early adopters! We are building the future, one bit at a time in this new digital era of cryptography, privacy, monetization, data, and decentralized communities.
Celsius's CEO Alex Mashinsky is putting Bitcoin's price at $30.000 by the end of the year, I'm aligned with his prediction, the halving isn't priced in, it can't be... and when it happens, it might take a few months to see some results, but when it happens, we, early adopters that live inside this tech, we will all know what is happening...
The outside world won't know what is happening, they aren't paying attention, most still think of this space as being a scam, they will FOMO in mid-late Bullrun, many will buy the top, many will never buy into this new financial system and will either die with the old one or use this one in a few years when most of the big profits will be gone, regardless of this, we are part of the solution! This is not a revolution, in revolutions people usually die... This is evolution!
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Question of the day: Give me your best Bitcoin price prediction at the end of 2020?
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Lookin good! I think we'll hit ATH in the next 2 months followed by a crash to 10k due to miner capitulation. I don't think we're ever gonna see Bitcoin dip under 10k ever again once we break it.
Posted via Steemleo
I'm more or less aligned with that scenario, even if we do dump it's only going to be momentarily, from now on dips are for buying, at least until the next ATH which is prob around 2 years away
Thanks for reading @edicted! Been busy studying how to program so I haven't been very active... now I know the basics of C(damn memory overflows) and will soon learn Java in uni.
Posted via Steemleo
I like that term!
In 10 years we will see people saying : "I went full crypto in 2020... now I'm a full millionaire!"
Thanks for reading!
Welcome to the contrarian investors. Most traders I know are waiting for 5400$, 3600$, 3200$, 1800$, 1200$ and there's even one guy saying that he's going to wait for $800. 🤪
I'm done waiting. I'm already on the train and buying more tickets at every stop! 😁
Really? All the ones I follow are in on the bullrun train xD Well, let's see what happens, everything is possible, but I don't think those targets are probable.
Yay!
Your post has been boosted with ESTM. Keep up the good work!
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I like the idea of evolution instead of revolution. Evolving the financial system could be part of the solution to the climate crisis and other social issues. !trdo
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I'm not so sure we're in a bull market as of yet.
I'm probably more 70% - 30% bull to bear market. While I'm with you I'm feeling pretty confident we're out of the bear market, a small part of me still feels like we may see on last dip to 8k or even just below 9k.
The golden pocket for this pump's retrace is at 7600, so we might go there before continuation, but it would just be a blip in the road to a new ATH imo
Thanks for reading!
Posted via Steemleo