Tommy Lee: If there has been a bubble, it recently popped!
...well, yeah, hope you guys have been short as well ;)
From a technical perspectve BTC has ralleyed to quick in the last days so there is likely to be another minor pullback, which we can already see on the lower timeframes.
I expect the price to fall to a zone between 3.5k and 3.25k and a strong upward reversal happening next week.
While watching the price falling I was browsing through old threads I bookmarked some months ago. One of these I would like to share with you:
by CoinMajesty.
The author's oppinion tells us a lot about how to handle year's end bahaviour of Bitcoin. Thumbs up on this one.
Another thing to keep in mind is the (not directly) linked GBTC (Bitcoin Investment trust). It was traded about 1000 USD but it was meant to be worth about a tenth of the real Bitcoin.
GBTC's chart has been corrected as well but the symmetry has some major differences to BTCUSD.
Bitcoin has fallen to its old High from June around 3k. In comparison we can see that GBTC's price has fallen more that 50% of its All-Time-High to about 450 USD. That's way lower as the June high.
I've read some articles forecasting mainstream attention happening this November.
For me it looks like the closer we come to this point the closer we come to the former GBTC to BTC ratio of 10:1, because GBTC was hyped to 2x premium. Mainstream attention in this matter would also mean that people would use the Bitcoin, not using it as a speculative vehicle.
My guess another boom is about to happen within the next weeks followed by another correction happening at the end of December until Mid February, just in time for Russia's regulation they announced some days ago.
...well, yeah, hope you guys have been short as well ;)
From a technical perspectve BTC has ralleyed to quick in the last days so there is likely to be another minor pullback, which we can already see on the lower timeframes.
I expect the price to fall to a zone between 3.5k and 3.25k and a strong upward reversal happening next week.
While watching the price falling I was browsing through old threads I bookmarked some months ago. One of these I would like to share with you:
The author's oppinion tells us a lot about how to handle year's end bahaviour of Bitcoin. Thumbs up on this one.
Another thing to keep in mind is the (not directly) linked GBTC (Bitcoin Investment trust). It was traded about 1000 USD but it was meant to be worth about a tenth of the real Bitcoin.
GBTC's chart has been corrected as well but the symmetry has some major differences to BTCUSD.
I've read some articles forecasting mainstream attention happening this November.
For me it looks like the closer we come to this point the closer we come to the former GBTC to BTC ratio of 10:1, because GBTC was hyped to 2x premium. Mainstream attention in this matter would also mean that people would use the Bitcoin, not using it as a speculative vehicle.
My guess another boom is about to happen within the next weeks followed by another correction happening at the end of December until Mid February, just in time for Russia's regulation they announced some days ago.