Bitcoin (BTC) Does Not Seem Likely To Reach New ATH By Year End

2018年10月24日

Bitcoin (BTC) correction seems to have drawn to a close. The price has bottomed out during the last few months, but it is not about to skyrocket from here. Those who started trading in late 2017 might be anticipating similar gains as in last November and December. However, that does not appear to be the case. This time, Bitcoin (BTC) has completed one whole cycle. If we study Bitcoin (BTC)’s trading history for the past eight years, we will see that there are three segments of a Bitcoin (BTC) cycle. The first segment is smart accumulation. The second segment is dumb accumulation and the third segment is distribution.

As Bitcoin (BTC) forms a bottom and prepares for a trend reversal, we now enter the smart accumulation period. This is where the smart money starts accumulating. The sentiment is against accumulation at this point. A lot of people still believe Bitcoin (BTC) could fall down to $4,000 or even lower. Unfortunately, they are so overwhelmed by fear and negative sentiment that it deters them from evaluating the risk/reward. Even if we do accept for a minute that Bitcoin (BTC) may fall to $4,000 from here that is still inconsequential in the grand scheme of things. All these institutional players would not be getting into Bitcoin (BTC) if they did not believe in its long term potential.

Read Further: cryptodaily.co.uk/2018/10/bitcoin-btc-does-not-seem-likely-to-reach-new-ath-by-year-end/