I don't know about you, but Bitcoin crossing 2 resistance lines in a tiny bounce up seems pretty bullish. My stop-loss to buy Litecoin is still set to $60.77, so I'm on the razors edge of buying. I guess there's a chance it could crash from here but honestly I'm expecting a third flag up before that happens. The bottom could very much be in and we are working our way out of it.
I'm almost as bullish now as I was when Bitcoin hit the doubling target of $3200 exactly.
| 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 |
|---|---|---|---|---|---|---|
| $100 | $200 | $400 | $800 | $1600 | $3200 | $6400 |
Could Bitcoin dip to $6400 at year's end?
Certainly.
However, in this climate we can hardly expect that.
The banks are printing money again. Bitcoin has never existed during a time like this. How many boom/bust cycles did it take before Bitcoin could make it to a single legacy system bust cycle? The explosive growth of Bitcoin is absolutely astounding, and we all get to ride the coattails up the chain.
Rather than allow bitcoin to become a stable source of growth that could help everyone, the market will become unstable once again. Why is this a guarantee? Because people are greedy.
The stable value of Bitcoin at the end of the year is $6400,
but the unstable value is more like $64,000.
I imagine it could fall anywhere inbetween depending on the decisions of big money players.
#winteriscoming
Return from Short-Term Bullish Bitcoin Breakout to edicted's Web3 Blog
