neillifetwit
Long

Continuation/Revision Idea: Are we about to enter next Cycle?

BTCCHINA:BTCCNY   Bitcoin / Chinese Yuan
My Forecast for Bitcoin ( 6 months -1 year ):
We will finish completing this fractal around the beginning of September.
The next price ranges for the next few months will be around 600-680 followed by a 680-770 range.
Around December to January we will start the next phase of this cycle, which is the Spike Phase and start to see new highs.
This will continue until we hit the next cycle target/top is around $3750 or 25000 Yuan.
Well my initial forecast was correct :) Short term news, in March we will see some ETF decisions by the SEC which will influence short term (6-12 month) prices. However, medium term ( 2-3 years ) regardless of the decision at some point the currency should spike to the forecasted ranges of $3750 and above.

I am also forecasting that due Bitcoin being an unique asset that hedges against geopolitical risks (http://seekingalpha.com/article/4047264-bitcoins-correlation-financial-assets), long term we will see much higher market caps for these types of distributed cryptocurrency type technologies. We could see widespread adoption of bitcoin or spawning of new assets that are only accessible via cryptocurrencies. So there are possible hedges within the cryptocurrencies to keep track of, however, so far none come close to being a competitor for bitcoin unique network participants, adoption, technical community, and its networks distributed and decentralized aspects. So be wary of any scam coin claiming otherwise. Lots of bad actors in the community that have their own agendas due to not benefiting from bitcoin being adopted and make money off the fear of the community. Call them out, Question everything, hold people accountable, learn as much as you can!
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