Skip to main content

Will the Bitcoin price peak above $10.000?

Bitcoin is in it's final parabolic phase, if you know basic hype cycles and how VC's pump and dump their assets you know the final phase is the fastest and can end at irrational heights. Several Venture Capitalists have called for a price of $10.000 per Bitcoin towards 2018, with an all time high of $7.900 it already came pretty close to fulfilling that.

With the CME announcing futures it added extra institutional fuel to the rally, what happens because of the hype a lot of traders and investors come looking to get rich so smarter traders will profit off these swings and combine this with media campaigns. They usually have the big connections to the relevant news outlets as they are big funds with a lot of capital available for these kind of things.

Currently the price bounced on a lot of volume around $5.500 and it is currently testing the upper band of the current higher timeframe consolidation range. Breaking the previous high is still very possible considering the momentum that's still building towards the CME launch, I expect price to top out before the end of December when the futures contracts expire, after that it might setup for the next move in a sideways market or go into a long time bear trend. Altcoins have a lot of opportunity right now considering the high prices Bitcoin has reached, people fear prices going down against Bitcoin but this becomes less relevant as Bitcoin closes in on it's irrational exuberance.

Comments

Post a Comment

Popular posts from this blog

Bitcoin testing lows, BitFinex premium panic buyers. SEC cracking down on ICO securities and DEX's

After a strong buying momentum move after Finex banking panic. It seems the market felt the best decision was to russle it. Majority of emotional participants are always attractive to manipulate. Meanwhile the SEC has truly cranked up actions against the unlawful ICO securities. Projects are slowly learning things go more smoothly when products are real and active instead of vaporware salesmen.
Post a Comment
Read more

Bitcoin to $10,000 while Hedge Funds Flow In

Bitcoin reached prices close to $10,000 in anticipation of more regulated derivative product launches like the CME, the influx of institutional capital is at an all time high and OTC dealers should be running dry. Now where will this rally end? $10,000 has been a heavy promoted number by the larger players, usually this means their distribution is around those prices and possibly calling the target makes them credible in the future. At some point it becomes irrational to have any expectations of significant increases, smarter money will pull buy orders and the selling cascade that follows will initiate a full crash, till we see some clear reversal signals though the trend is still up. I think the public promotion of the $10,000 number though will have down pressure on the price, this will create all the more momentum.
Post a Comment
Read more

Bitcoin mass adoption to the $trillions, Banks opening trading desks,

As I long expected, the Bitcoin market is exploding with instutional demands. OTC desks have reported to have demand from wealth funds and banks have started opening crypto-currency trading desks meaning they will start to provide liquidity to the market. This tells me that there's a very good chance that there have been huge OTC deals made with institutional players and that soon exchanges will show this in price. Currently the Bitcoin market cap sits around 1-200 billion and it is my belief that this is too low for the type of capital flow coming from the traditional financial world. I believe once we have priced in this adoption phase and we are trading in the trillions, Bitcoin will be a protective asset like Gold and it will takeover it's function as such. If you know anything about the Gold market you know there's a high correlation with foreign exchange pairs and that it has a very important role in how capital flows and is protected in times of uncertainty. A g...
Post a Comment
Read more
Powered by Markten & Economie