Bitcoin long-term update:
Welcome member to this exclusive update on bitcoin. In the past, we have witnessed some amazing bullish rallies and some devastating falls. Many traders made fortune out of crypto and many lost their good chunk of money in crypto. Out of all, Bitcoin stood out strong in all the circumstances.
Back in December 2017, a drop from $19666 to $3122 was shattering. Many traders lost their hope of making fortune in crypto. But who would have thought that $3122 would be the bottom level from where BTC was going to make a new all time high record, a new history in a digital world. It was back in December 2018, BTC after hitting the $3122 bottom, BTC rallied its journey towards $69000. A record-breaking bullish rally that took the crypto market to a next level. And guess what, many experts claim that this isn’t the true potential of BTC. It holds the potential to go beyond $100,000 USD and compared to the past rallies, I sure don’t doubt it.
So, coming to the current scenario, as per the backtesting, it is possible to see a small jump coming in BTC soon and then possibly a drop towards the lower support level (close to $13k). This jump will be around $35k to $40k. Now, the question that arises here is, if BTC reaches the $13k support zone after the jump, will that be the same rock-bottom from where a rally towards the new all time high will begin?
Well, technically that's the level I am expecting but we will get to know it when the time comes.
Someone rightly said, “The Bear market can make you rich” but only if you know the right time to accumulate the coins at the bottom. It is also true that when you think you bought the dip, it keeps on dipping, lol! This is the ugly truth about the market. Anyways, that’s enough pep talk. I will end my case study here and will update more in the coming days. Till then take care and trade safely.
Welcome member to this exclusive update on bitcoin. In the past, we have witnessed some amazing bullish rallies and some devastating falls. Many traders made fortune out of crypto and many lost their good chunk of money in crypto. Out of all, Bitcoin stood out strong in all the circumstances.
Back in December 2017, a drop from $19666 to $3122 was shattering. Many traders lost their hope of making fortune in crypto. But who would have thought that $3122 would be the bottom level from where BTC was going to make a new all time high record, a new history in a digital world. It was back in December 2018, BTC after hitting the $3122 bottom, BTC rallied its journey towards $69000. A record-breaking bullish rally that took the crypto market to a next level. And guess what, many experts claim that this isn’t the true potential of BTC. It holds the potential to go beyond $100,000 USD and compared to the past rallies, I sure don’t doubt it.
So, coming to the current scenario, as per the backtesting, it is possible to see a small jump coming in BTC soon and then possibly a drop towards the lower support level (close to $13k). This jump will be around $35k to $40k. Now, the question that arises here is, if BTC reaches the $13k support zone after the jump, will that be the same rock-bottom from where a rally towards the new all time high will begin?
Well, technically that's the level I am expecting but we will get to know it when the time comes.
Someone rightly said, “The Bear market can make you rich” but only if you know the right time to accumulate the coins at the bottom. It is also true that when you think you bought the dip, it keeps on dipping, lol! This is the ugly truth about the market. Anyways, that’s enough pep talk. I will end my case study here and will update more in the coming days. Till then take care and trade safely.
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