Bitcoin resumed its trend higher, despite all the bad news coming from China or the negative words spoken by a Chief Executive Officer of a big bank.
Personally, I think the bullish trend is far from over. Of course, there will be corrections on the way up that seem severe as the drop from 5K tot 3K was indeed severe and scary to many I think.
However, in the bigger picture these corrections will seem small later on. Just compare it to the drops in the early days, from USD 15 to USD 8. Or USD 250 to USD 50. Or USD 1.100 to USD 150. I bet those felt very painful at the time, but seem rather small and insignificant now (ok, perhaps not the one from 1.100 to 150, but you get the point).
In any case, look for a local top around the 6.2K - 6.8K area, then a correction, followed by another impulse to 8.000 (or perhaps to 10K?).
Of course nothing is certain in the cryptocurrency market, but for now Bitcoin is still the gift that keeps on giving. :)
Personally, I think the bullish trend is far from over. Of course, there will be corrections on the way up that seem severe as the drop from 5K tot 3K was indeed severe and scary to many I think.
However, in the bigger picture these corrections will seem small later on. Just compare it to the drops in the early days, from USD 15 to USD 8. Or USD 250 to USD 50. Or USD 1.100 to USD 150. I bet those felt very painful at the time, but seem rather small and insignificant now (ok, perhaps not the one from 1.100 to 150, but you get the point).
In any case, look for a local top around the 6.2K - 6.8K area, then a correction, followed by another impulse to 8.000 (or perhaps to 10K?).
Of course nothing is certain in the cryptocurrency market, but for now Bitcoin is still the gift that keeps on giving. :)
