Bitcoin Price Prediction December 2017 Uptrend!
Above is the 4 hour chart showing a pullback getting huge support at the $17500. Major resistance at $18500 with even more coming at $19000. Parabolic Sar is in a downtrend look for a break of this before a sustained before any upswing occurs. ALTS like ETH Litecoin should make moves lower if Bitcoin rallies. This is a similar move to the one at the beginning of the trendline.
A major Tether pump occurred printing of $50 should cause an upswing to $19000?
Relax guys, Bitfinex just printed another fifty million legally unbacked, nonredeemable unaudited Tether tokens.
Chances are they will print another fifty million today for a cool one hundred million Tethers! pic.twitter.com/gRU4jF9zYd— Bitfinex'ed 🔥 #DontGetTethered (@Bitfinexed) December 19, 2017
So is the consensus that with the cme, and other exchanges coming online, that we’ll see lower measures of volatility in the coming months?It’s not every day that btc bolts up 10% form its previous ATH. Nor is it every few days or every week. It happens when it happens. Futures are simply a new product for brokers to sell off of btc’s success. Will it actually drive new people/institutions to buy more coins? I think it already has, but not because of the future transactions per se, but as a result of the media fanfare surrounding the introduction of a more mainstream product like futures.
This game is all about patience IMO.
I don’t think this will have a meaningful impact on volatility until we get vanilla options, at the very least. Which might well come from the futures markets, but aren’t here yet. Volatility futures (VIX analog) would also help a lot, but seems less important. Bitcoin volatility has been declining slightly over the years, and I think that will continue, but we won’t see a dramatic drop.
But even so, I don’t think we can really achieve low volatility until we find a price that can last long term. If Bitcoin managed to just hold a stable price at this level, that would continue to prove to people that it is viable, and demand would rise. I don’t think we can see a stable price until Bitcoin dominates all the market niches it is superior at, and right now I don’t see it dominating any. Maybe that means it needs to go down a lot, or maybe up, but this is not the long-term price.
And a big move (eg, 20k->200k) can’t be steady unless it’s very slow. Which I don’t think is what we’ll see.