My suspicions, short cover rally.
Bears gonna start loading up again to wash and repeat any approach to 320.
Too small a move, need to observe a higher movement above the bottom.
wow
we are clearing TXs down to 10 satoshi/byte if I am reading the chart right
Yes, it's been going on for a while now. So if you still have Bitcoins in non-SegWit addresses, or want to consolidate some of your UTXOs into the same address (so your privacy isn't affected), now would be a good time!
Well.. Most of optimistic holders right there were not expecting bitcoin to break 3.000$ after a dump from 2.980$ to 1.800$ and go as high as 20.000$ 4 months later.
The average optimistic bitcoin projections after we break 3.000$ was 5.000$ for the end of 2018, and we know what happens.. bitcoin goes x4 of that average expectation.
Now also we are in the same situation. A pullback from 20.000$ to 6.000$ Then a try to retest the 20.000$ and go above in next weeks.
Again the average optimistic holders are praying for a price of 20.000$ again before end of 2018. So maybe we are going to make x4 of the average expectation before end of 2018 For a bitcoin price of 80.000$.
When/If bitcoin gonna hit 80.000$ the very big hedge funds and the richest persons are going to enter the market. This gonna coincide with a bitcoin pullback from 80.000$ to 40.000$ only because this time there are the richest persons in the world willing to buy bitcoin after bitcoin going to be the number one on internet trends from here. So.. its going to be a very big support, and from there the real big boom gonna happend ( duo to the amazing big big bang money coming) and take bitcoin price from 40.000$ to 500.000$ before end of 2019 And then bitcoin officially recognised as the new GOLD and all the powers gonna submit to the new worldwide king.
Thats my projection.
I know it sounds like impossible, but with bitcoin all is possible. He goes from cents to 20.000$ in 7 Years and you think its impossible he make X25 in 2 years from the 20.000$ registred on december 2017 to december 2019?
I like your way of thinking. Sometimes we are too consumed by the short term charts and miss the big picture. If we keep our faith in what seems impossible now, we will be rewarded sooner or later.
Thank you mate.
We need more positive bull energy.
In the long run, bitcoin from hes creation, was only very bullish in the long run and that are not going to change.
Like you said, our brains are by default focused on the very short term and forget the big term picture wish is very very bullish.
And for my projection, i found it very reasonnable and conservative, but for the ones that are more focused on short term pictures, it feels like mission impossible to get @ 80.000$ @ the end of 2018 And 500.000$ @ the end of 2019.
In the past, bear markets have survived for multiple years. The growth has been concentrated in a few months, which means you really shouldn't miss those. Giving such tight price targets for end of 2018 for example makes me uncomfortable, since the bear market could very easily last until then. However, if the past is any guide, the subsequent growth once it enters the bull phase would be impressive too. Just don't want people to sell in despair if their year end price targets aren't being met.