A few more months of sideways before halving pump 2020
With everyone expecting big moves all too often, the reality is that BTC is a quite boring asset over 90% of the time. Most interesting and strong moves happen in a very short period of time, and it can go sideways for much longer than
we would all like.
We now will have to see if we get a fractal similarity to 2016, where we had a very long flat period of quite a few months before the halving pump, or more precise "pre-halving pump".
It might be that BTC does something new this time, however, since the bottom structure is also different from 2015.
Also, I'd like to point out that the network activity is currently a bit too weak for my taste.
Daily transactions are well below the all-time high, contrary to earyl 2016, where we already had new all time highs in daily transactions.
They must rise if we want to see new all time highs in price also.
In the case of unexpected movement, I think 6k will be the bottom here, with 12k being the upper limit. I don't see BTC doing bigger moves before Q1 2020, then the real fun should begin.
On a longer timeframe, chances are high for an ATH in 2021, similar to 2017. However, the chance that this is all a long ABC correction playing out, is not zero, please be aware of that.
It entirely depends on the network strength, hashrate, number of users, daily transactions, as these metrics impact the price a lot. The truth is: No one knows, but be flexible and prepared for
all scenarios.
Good luck to everyone, and may in either case be huge gains at the end of the road :)
we would all like.
We now will have to see if we get a fractal similarity to 2016, where we had a very long flat period of quite a few months before the halving pump, or more precise "pre-halving pump".
It might be that BTC does something new this time, however, since the bottom structure is also different from 2015.
Also, I'd like to point out that the network activity is currently a bit too weak for my taste.
Daily transactions are well below the all-time high, contrary to earyl 2016, where we already had new all time highs in daily transactions.
They must rise if we want to see new all time highs in price also.
In the case of unexpected movement, I think 6k will be the bottom here, with 12k being the upper limit. I don't see BTC doing bigger moves before Q1 2020, then the real fun should begin.
On a longer timeframe, chances are high for an ATH in 2021, similar to 2017. However, the chance that this is all a long ABC correction playing out, is not zero, please be aware of that.
It entirely depends on the network strength, hashrate, number of users, daily transactions, as these metrics impact the price a lot. The truth is: No one knows, but be flexible and prepared for
all scenarios.
Good luck to everyone, and may in either case be huge gains at the end of the road :)