Do you still believe in cryptocurrency? And Will bitcoin go back to $ 10,000?

in #cryptocurrency6 years ago

A few months ago we have seen the period where cryptocurrency is so bad. Bitcoin weakened from its highest peak along the $ 19K half of USD down to $ 5756. Many have speculated that this is the year of the end, thanks to many negative issues regarding cryptocurrency circulating around the world. I as a trader had thought to leave cryptocurrency and move to a more stable investment like Gold, Stock or Forex. But the result is small compared to cryptocurrency, I'd say is better to wait even though it hurts.

I'm not going to explain how many losses I've had in the past few months. What is clear is that I am a victim of a bitcoin malignancy. I buy bitcoin when their price is around $ 15K to $ 16K USD. And you can predict how much losses I had.
sometimes a question such as "do we still believe in cryptocurrency?" crossed in my mind. Especially when negative issues circulate. The time when our Assets are slowing down. And when the market is very chaotic. Some of my friends had suggested Cutloss to reduce my losses. But until now I have not even do it.

And you know how to make me believe and stick to my position.

The thing that makes me believe and keep believing is to make analysis from time to time. Of all the analysis I made, none of the result shows that bitcoin will rise again. But these days are different, this morning I get the signal that the bitcoin price movement is changing into an upward trend. To be sure I need a week to come. But if we look at the BTC / USD Chart you can conclude that bitcoin is rising.

See the BTC / USD chart below
TF1WEEK 1.png

I took this picture using TimeFrame 1WEEK. Where we can see the bitcoin is rising and the RSI Graphic has also shown the same thing. For now the most realistic target for bitcoin is past $ 10 thousand USD. You can see the graphic there have 2 targets. If bitcoin reaches the 2nd targets it is certain that bitcoin prices will rise even higher.

But that's not what I want. Because, if it happens bitcoin has no foundation to stabilize itself. I want bitcoin to run slowly, and if the increase is not more than 3% per week. I'm sure sooner or later bitcoin will come out of the red zone. Maybe you ask why the chart I share is very simple. Due to too many strokes on my personal chart. I made it for you all to understand more quickly. And I know you all also have your own analysis.

You know even though bitcoin reaches $ 10K USD I have not fully earned Profit yet. But at least with the changes of current bitcoin trend, makes me more confident that bitcoin and cryptocurrency will never be gone.

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To the question in your title, my Magic 8-Ball says:

Yes definitely

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