Hi. Happy new year everyone! As you can see on the chart bitcoin can partially repeat the gold fractal, at least a few analysis on the fractal coincide, pay attention to the blue fractal. I think yesterday's pumping of altcoin and decrease of bitcoin dominance will give an understanding that it is possible to enter the market, and the fomo will start in the next 10-14 days, after the crowd enters the market we will see the very correction in several movements. I will sell most of the altcoin portfolio and wait for the correction of 25-35% to increase the number of coins . Now it is difficult to say the target of the correction ( look at fibo) . Let's first wait for January 20-24.
I don't think comparing bitcoin to gold will do justice to the technical analysis of why bitcoin would rally, because of the fact that they both have different use cases. Bitcoin is just based on speculation, there is no continent that have used bitcoin as any form of transaction because it is slow and the fees are just so high. Comparing to that of gold that have much more physical value and use case. I believe bitcoin have it's way below 24k and probably below 10k
Dutchy
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@merrimen much to learn you have about Bitcoin. Gold is the barbaric reserve.. not that of the new digital age.