From the average citizen's perspective, this vehicle, BITCOIN, has exhausted its move north. There is a great amount discussion regarding bitcoin's trading value vs. bitcoin's value against government fiat and intervention (aka "block chain" concept). And from a purely technical analysis, there is much more to lose than to gain. Why?
Let's review the price action in terms of range on the weekly chart (below). Notice that the 500%+ move early in the infancy of bitcoin? As you move forward, that percentage (or yield) is decreased substantially. And, that occurs because the type of investor changes.
At today's price, the average citizen's buying power simply cannot compete with institutional power. The same thing is true in, for example, AMZN, AAPL, BABA, etc. Can the average citizen afford to risk a 30% haircut for 30% return? In my opinion, no.
JUST LOOK AT TODAY's price action!!!!!!!
If you bought the $2750 hype, you're now down 20%!!!!
Folks, if you have the cash, enjoy the ride. If you don't but like the concept of bitcoin, WAIT!!!!!!!!!!!! Wait until a reasonable price (one YOU determine is reasonable), by all means, speculate.
Be careful out there.
The Maestro!
www.themaestroway.com