Most people believe that Bitcoin (BTCUSD) is entering a consolidation phase (green triangle) which will lead to a bullish explosion pushing bitcoin higher in value.
A repetition of what we saw in late 2019 and early 2020.
If this scenario comes to pass, we can see Bitcoin hit $28,000+ in early 2020 and beyond...
We've looked at the short-term view, bearish and bullish. The long-term view we saw was mostly bearish... Here we are looking at the bullish scenario long-term...
Where do you think Bitcoin is headed?
Share your thoughts below...
Namaste.
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Correction: A repetition of what we saw in late 2018 and early 2019.
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Take a look at our TOP 10 results since August... The charts can be accessed below the list:
No rhyme or reason for $28,000 but, here we are with another just because chart. No news, adoptions, upgrades.. just a chart based on blind optimism. You see, 2017 had every reason to go up, and 3 key reasons why BTC went up was due to:
- Exchange expansion. Bitcoin grew to dozens and dozens of exchanges world wide.
- Media hype. Bitcoin got world recognition by every news outlet there is. CNBC, Bloomberg, you name it.
- CMW Group. Here came Wall Street, futures and exposure. This was probably the biggest factor.
So, what’s going on today? Even with Bakkt, AmeriTrade, bitcoin crashed like a lead weight. You need solid reasons, not blind optimism. 2020 will be the start of the recession and the last thing people will care about is Bitcoin. Nations and smart money buy gold, silver, and platinum in economic hardships. In fact, whales may start pulling their money from Bitcoin and investing in gold for safety and profits this crashing Bitcoin even more.
Supdolt
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@BankofEngland, btc hit 20k because no one were selling it, look at volumes lol there is No volume at all when it vent from 8000 to 20k there was no money in bitcoin at all. it was just whoever is first to sell gets the profit and that was that.
AlanSantana
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@Supdolt, Bitcoin will have another strong run in the near future, stronger than what we've seen before.
Namaste.
UnknownUnicorn2774089
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@alanmasters, Yeah, a payment system that no one is adopting...wake up
@alanmasters, Indeed, Cyprus. Bank depositors (every day people) lost approximately 50% of their saving due to Bank of Cyprus bail-in. They same thing could happen in the USA, with just the flick of the wrist. When people around the world 'wake up' to how the central banks, IMF, IRS, Federal Reserve, etc. have been robbing them blind (via. inflation, QE, etc.), Bitcoin and other cryptocurrencies will obtain market capitalization like never seen before! South Africa is being hit hard too.
- Exchange expansion. Bitcoin grew to dozens and dozens of exchanges world wide.
- Media hype. Bitcoin got world recognition by every news outlet there is. CNBC, Bloomberg, you name it.
- CMW Group. Here came Wall Street, futures and exposure. This was probably the biggest factor.
So, what’s going on today? Even with Bakkt, AmeriTrade, bitcoin crashed like a lead weight. You need solid reasons, not blind optimism. 2020 will be the start of the recession and the last thing people will care about is Bitcoin. Nations and smart money buy gold, silver, and platinum in economic hardships. In fact, whales may start pulling their money from Bitcoin and investing in gold for safety and profits this crashing Bitcoin even more.