However, it doesn’t mean Bitcoin has no potential to add another 5,500%. Just back in January I remember the widespread opinion about Bitcoin – it peaked at $945, and hardly had chances to break above $1,000.
Then there was another splash of disappointment in March, when it reached $1,270, but later had three weeks of selloff falling to $905. But since that time we saw Bitcoin touching $2,889, meaning that if you bought it even at March peaks, you would have more than doubled your investments.
And now is my idea - catch retracements. The history shows that there is always a correction after huge , and in most cases it amounts up to 50% of the uptrend. And these retracements offer perfect opportunities to enter the market at very attractive levels.
So, my take is to sell at current levels with the nearest target at $2,200, and wait. As soon as the selloff is over we gonna see another swing higher with a potential to see another 100% rise!