Bitcoin to 25k is conservative.

in #bitcoin6 years ago (edited)

Good day peeps, its been quite a while....Hope y'all super awesome. Well, i have to admit that im not the best in advanced TA, Gartley pattern and all but with the knowledge that i have about it, i have made the chart below based on the information we have from Jan 2017 when BTC was been traded ~$1000.

( TA pros please correct me if im wrong, not all Fib levels are taken perfectly though while plotting XABCD & im unsure too if XA could be taken from 1k to 20k)

Also with the Bullish weekly engulfing TA to me looks super bullish and things are starting to get exciting with many great news in the crypto space aswell, especially in Bitcoin.

-Coinbase Index Fund

If you US citizen, accredited investor and plan to invest atleast $250,000 this is for you and much easier for institutions to work with exchanges aswell.

-Chicago Board Options Exchange (CBOE) - VanEck Solidx ETF
We all saw what happened with the introduction of CME CBOE futures. That undoubtedly is one of the main reasons that pumped up the price for Bitcoin to 20k. ETF is going to be even more powerful and many in the crypto space claim that we could see BTC hit $60,000 by the end of the year, but lets be conservative, i guess we could see $25k .

-BlackRock & Goldman Sachs into Bitcoin

This is why Black Rock matters. They have over 6Trillion in assets management. Again being very conservative, if they even put in 1% into cyrpto, we will surpass the Jan 2018 All time highs easily.

The very fact that Goldman Sachs backed Fin tech company Circle buying one of the worlds largest crypto exchange Poloniex, coincidence? If banks are against crypto they wouldn't be doing all this. Moreover, the to be CEO of Goldman Sachs David Solomon is pro Bitcoin too. So I guess its about time.

-Coinbase We Gift Parternship
Lastly if you are like me with everything invested in crypto and dont want to cash out, you can use your Coinbase account to authorize WeGift and the gift cards you can use at Uber, Amazon, Google, Nike etc. It comes with zero fee and instant transaction.Not just that, you will be given bonuses and discounts when you use WeGift to shop in these stores.

I understand many of you are familiar with whats going on and already know of these news via other sources but for the rest i hope this helps.

Hope this was helpful and informative peeps and do sign up to Binance or Huobi for trading/buying crypto & in IC markets to trade crypto/usd pairs in MT4. Also consider using BITMEX and try your luck at 100x :)

If you enjoyed it please do post your upvote, comment, resteem & follow.

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To the moon, the higher the better.

Absolutely brother. Nice to see you here:)

Coming days it will go down

i think correction period may be complete. at present bitcoin next target that means resistant level 9500$ cross then 11500$. @ amreshchandra this is my personal opinion and Your?

Seems realistic to me

Exactly mate, as long as we are above 6k we are good to head on to 9.5 k, 11.5 k and yeah obviously break the ATH. Risk Vs Reward at this point of time is great...Im bullish.

Higher highs..:) as long as we hold 6k we are good..

are you thinking it will break the resistant and go up higher high
or it might another chance to lower low

what do you mean use BITMEX and try your luck at 100x? what is that?

100x leverage mate. Well i dont recommend you doing that if you are new especially with crypto as for the volatility, you may get liquidated pretty soon.

I don't really know...
You don't really know...
We don't really know...

but we go with whats likely to happen and its very likely for BTC to hit 50k if the ETF gets approved and the institutions come in ...

¯_(ツ)_/¯

Since the February crash BTC price has been in a consolidation phase where the 6K bottom has been re-tested and held 3 or 4 times. Many, including myself, thought we would see it go lower - maybe into the 3K range. But, so far this has not happened - and we're not going to complain about that. Hopefully, the BTC price will start to rise again - and the next high should make 25K look like small potatoes. I'm expecting the next spike in price to be in the 60K - 100K range, but nobody seems to know when that will happen. It could take another year or two??? Whatever the case, buy this current dip and HODL for the next high...

Exactly mate. 6k is a strong support. It shouldnt break. Hopefully by end of year we can see new ATH

Good study good article....I also hope so BTC to the moon soon.....

Hope so too bro, nice to see you :)

Hi,
There are many posts which are talking about the Bitcoin Price to Go higher & we see bitcoin having high resistance at @8100 levels in the past 2 days time.I see CBOE ETF the only trigger which would further raise the price.But what will happen if the ETF doesn't get approved? No one is talking about that..would like to know your views..

It looks like the ETF from the Winklevoss Twins has been rejected again. However, one member of the governing board did have some positive comments about the future of BTC offerings, and that means it's not all bad news - just that more waiting is the order of the day. Once these ETF offerings get it right, and the market demand and increased interest begin to provide more money invested into BTC, it should help to further stabilize the price volatility. As the volatility of cryptos starts to calm down, and we see which coins and tokens will survive the current environment (maybe 2 or 3 more years), then I would not be surprised to start watching the Coin Market Cap move into a few TRILLION$ of dollars. At that point, anyone holding the surviving assets is going to be a really happy person. I'm holding a few of the best contenders, IMHO, and I'm just going to wait a couple of years to see how it forms up. ETF trading will be approved and adopted at some point. Nobody knows when it will be, but it shouldn't be much longer and the cryptoshpere will see another boom...

CME CBOE futures took us to 20k. ETF can take us to 200k tbh...for now lets do a conservative 25k by end of year obviously if the etf gets approved which has a high likelihood..hope for the best mates. Cheers 😎

@amreshchandra sir i think correction, Everything is possible in the crypto world,up and down

We have a little bit more of the downside before another bull run. If you are interested on why I think that check out my analysis:

Bitcoin (BTC/USD) Elliott Wave Analysis - Uptrend Continuation or a Lower Low? (Target 3000$)

https://steemit.com/bitcoin/@drumsta/bitcoin-btc-usd-elliot-wave-detailed-analysis-uptrend-continuation-or-a-lower-low