Fundamental: There is no much Bitcoins Left....
T.A. tells that uptrend stop by triangle or lateral will continue uptrend, also the Bitcoin is like in the middle of the big channel, it has momentum to get to the resistance line of the channel.
Also, there is market manipulation, to get more Bitcoins cheaper, the big players has more information than us, but we have some... and this is fundamental:
- Bitcoin get from 10$ to 1000$ in one year when there was only 8 Million printed/created/on circulation, and 2,5 Million where printed in that time.
There was a fall to 100$ price, because the market was to young and not to many people adopted.
- By now the world knows Bitcoins are real, there is no scam, and they can use as money all around the globe. Internet Money, with everything on internet right now.
- There is much lets Bitcoins printed, and much more people want them.
The last year only 800k Bitcoins were printed, 1/3 of the Bitcoins printed from 2012 to 2013 the year we rise from 10$ to 1000$. 2018 we will print like 630k Bitcoins, 1/4 of the Bitcoin printed on 2012. So we have a potencial of no less than *100 of the price, if we repeat the history.
If we had the same speculation we could get from 6k to 600k $ in just one year, or more because of the amount printed by now. Im assuming that the same speculation would not happend again, there is to much players by now.
- The number of transactions was between 5k to 50k per day from 2012 to 2013,
by now we have 160k to 350k transactions per day, the global adoption is taking place.
- The numer of Bitcoins sended per day was about 300k by 2012, right now it is like 1M but there has been days in between with 20M transfered
This is about 6.000.000.000,00 USD per day.
Circulating Supply Chart: https://blockchain.info/es/charts/total-...
Number of transactions per day: https://blockchain.info/es/charts/n-tran...
Number of Bitcoins transfered per day: https://blockchain.info/es/charts/output...
Actual Financial System vs Bitcoin: https://i.redditmedia.com/ZaZccnaDKps3WY...
Bitcoin vs Visa Electrical Consumption: https://hackernoon.com/the-bitcoin-vs-vi...
Bitcoin on the road for all the transaction market: https://s3-us-west-2.amazonaws.com/go-me...
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Encyclopedia of Chart Patterns, Thomas N Bulkowski statistics:
Page 738, descending triangle statistics of a triangle shape with horizontal bottom and down sloping top. Breakout is upward. Volume trend: downward.
312 formations with up breakout 228 make a continuation.
561 formations with down breakout 377 make a reversal.
T.A. for Bitcoin: Uptrend continuation