- When the stock market had its crash, Bitcoin surged which shows first signs of its blue chip value
- The Davos panel was tremendously in favour of Bitcoin . The Chinese representative said Bitcoin will reach at least 25,000$ in 2018. She also added that it is highly probably that a Chinese state-owned cryptocurrency might be much larger in market cap than Bitcoin (watch the panel, it's very interesting).
- The SEC ruling finally cleared the air; Bitcoin and cryptocurrency are not going to be banned and “We owe it to this new generation to respect their interest”. I would like to see the ICO market being much more regulated though.
- The market has been flushed; people now know that 500% gains are signs of a price bubble. Yes, Bitcoin has many price bubbles. Many people have also lost money in ICO scams in the past few weeks, teaching the market a hard lesson that Bitcoin is not a money making machine.
- It's getting easier and cheaper to buy cryptocurrency
- Coinbase commerce
What will the price of Bitcoin be?
100,000$. Just kidding, I don't believe in price predictions in TA. They're generally a guesstimate. I tend to prefer working with price ranges and looking at the possible retracement and breakout points in the chart I made, I see us hitting 60,000-70,000 at least. That's absolute mania. However, compare it to the Amazon stock's chart and it might make more sense. When looking at it from a financial point of view, it doesn't make any more sense than, the price of silver or its supposed value as blue chip (did anyone forget what history taught us about how worthless precious metals can become?).
From my chart it is clear that Bitcoin follows the breakout cycle lines perfectly and the 35 day moving average crosses these breakout points perfectly. I have yet to see a chart that is in such harmony as Bitcoin . It has consistently followed the moving averages to the breakout points to keep rising steeper and steeper. Following this, it would be clear that a breakout is due soon, at around the 11th of March at a price of around 12k (coincidence: there's a fib line!!!). Target? 14-20k range.
So, in conclusion, I am now in Fiat short term to catch the dip. Then I'm buying back in.
This morning I told my (Dutch speaking) calls group to sell everything into Fiat if they wanted to catch the dip. Those who did are now 3% in profit (including fees). However, this chart is here to remind the entire community that, yes, I am a long-term Bitcoin bull and will remain so for the upcoming months.
I don't post every call I make on Tradingview. I also need to learn to close my calls after posting on TV.
- ETC (+37%)
- XRP (+46%)
- DNT (+11%)
- Doge (+14%)
- TRX (+22%)
Gains are far from impressive; especially in Crypto but generally I advise people to sell after being in profit at around 15%. Never EVER feel shit about taking profits. I bought and sold after it went x3... it felt sour but hey.... IT WENT X3. And I bought it two days before it went BOOM because fractoharmonic indicators told me it would.
Anyone who's interested can join my group, it's free, but remember; it's dutch speaking. The chat's not closed off, and everyone can post their ideas.
Shoutout to BK for getting me into fractoharmonics after being in traditional TA for a long time.