I have been saying since February that BTC over expanded in price in Dec 2017 - This was the place you wanted to be selling, not buying. 90% of people are happier to buy something in the thrill confidence stage rather than at the panic and fear stage where no-one wants it. A lot of people talk to me about the massive drop in price for BITCOIN and how they knew it would never work. Well i say - I can't believe Bitcoin was $1200 this time last year, is $7000 now and hit a high of $20,000 = All in 1 year. The amazing thing with Crypto is this cycle plays out in 6 months, the same cycle in gold is 15 years.
We are in the middle of one of or if nit the biggest technical advancements of our generation. Rather then feed the fear Buy the fear. Start accumulating the top coins now and as they fall.
My personal opinion is that we have not see the capitulation stages yet and i feel we will revisit a market cap of 250, Billion, a long way from the 800, Billion in Dec. However, the DOTCOM Bubble happened at 10 Trillion, so even if we see 10 Trillion ( We will easily eclipse this) That will see BTC Between 70,000 and 100,000 a coin.
With so many coins like Etherium, EOS, LITECOIN, TRON etc, we are about to have the chance of a lifetime. Either get an early seat now and be prepared or wait and chase it when it runs like the 90% will do.
WHERE WILL BTC GO
We are in heavy resistance and have been since Dec. My analysis sees $5500 again, maybe sub $5000.
I am not looking to swing trade ALTS right now. I will be looking to accumulate bigger coins in buy spreads down, get the early seat at the table for the next cycle.
We may see bounces at certain resistance levels, $7100 is a major 1 as is $6600, but i will not be chasing these trades. I may accumulate here but i will be averaging down as it falls. ACCUMULUATION
This is purely my personal opinion and is not intended as investment advice