Copied the 2014-2017 price action and pasted it on the chart in log scale. To me it looks good, from a TA perspective, i mean, it looks organic. The problem is that it kinda predicts a price of almost $3k which puts MSTRs big bet in trouble. The trend for the last 6 months has been to squeeze people who made big bet big on crypto. Why wont that trend continue until the biggest bet has been liquidated. At the end of the day crypto started as peer 2 peer money, and it may end like that which means the industry could change alot going forward. Exchanges could go out of business as well as whales who have borrowed money to bet on it. The sustainable growth if ever will come from people using it on a daily basis not from people daytrading or borrowing money to buy and hold it. But lets see.
Disclaimer: There is obviously much going on the world right now its impossible to predict the short term future. But long term most people still seem bullish on Bitcoin as peer 2 peer money but what does that actually look like. Lets see.
Disclaimer: There is obviously much going on the world right now its impossible to predict the short term future. But long term most people still seem bullish on Bitcoin as peer 2 peer money but what does that actually look like. Lets see.