The HODLer community in the early years of 2008-2014-2017 lived through the greatest profitable assets known to man.
These early adopters and HODLers have experienced the greatest bull run in human history. They are so confident on the next bull run. The sheer determination to hold on to their bitcoins no matter what is the what differentiates BTC from every other asset in the world. In the midst of our current circumstances, a pandemic and global recession (depression) common people are doing everything they can to get hold of cash selling assets and holding their money. Naive to the fact that the federal reserve is using instruments such as unlimited quanitivie easing. Which merely the devalues Fiat currencies. Hyperinflation. This hyperinflation and the sheer determination of HODLers and early adopters have majority of the bitcoins in the network. Subsequently mean the bitcoins price is sustainable, yes will experience small contractions due to amateur crypto enthusiasts withdrawing money, but the HODLers are what keep the price sustained above US$3000. But once we drop below the $4000 mark the masses will adhere to the rumours and speculation. That bitcoins use case is to protect Peoples finances during a financial downturn. And we will see a correction to a bull run. As mentioned above the hyperinflation factor also complements bitcoin as well, the principles are exactly the same, fundamentally the same as gold and this is why after the 1929 great depression, gold was tethered to the USD. It holds its value people trust it and they believe in it. It may only be a small percentage of the entire population that believe in bitcoin, but this principle is exactly the same for bitcoin. We haven’t even considered the halving which is going to occur in May 2020 all of these factors suspiciously timed perfectly fuel the exuberant increase of bitcoins price and popularity.
Time will tell, this is not financial advice every single penny I have is invested into bitcoin and every single penny which I am over the next coming months will be invested into it.
On to the technical side of things.
As of today, moving average 200 and the moving average 500 have crossed. MA 200 Will be above the MA 50 which indicates bear movement. We should anticipate a price to drop over the coming days and bitcoin normal behaviour in price drops are that it will be significant and substantial, expect 39% decrease and more. Before then we will see it drop into the realms of the US$5000 this will trigger automatic sell off of people’s long position stop losses. Of which will fuel and catalyse further decline as people withdraw the bitcoin and hedge into stable coin driving the cost down further into the US$4000 range. Once we get into this range, we should expect to reach support line of US$3500-US$3300 which we experienced in November 2018 to February 19. This price range initiated the well-known 2019 bull run into July.
HODLers, early adopters and currency crypto enthusiasts will be licking their lips and scraping every single bitcoin nine can at this bargain of a price. It’s an early Black Friday. Consequently, this time round with the timings of halving, the pandemic and excessive quanitivie easing, we should expect to pass the US$13,000 mark before November and continuing up into 2021 where we will break through US$20,000.
These early adopters and HODLers have experienced the greatest bull run in human history. They are so confident on the next bull run. The sheer determination to hold on to their bitcoins no matter what is the what differentiates BTC from every other asset in the world. In the midst of our current circumstances, a pandemic and global recession (depression) common people are doing everything they can to get hold of cash selling assets and holding their money. Naive to the fact that the federal reserve is using instruments such as unlimited quanitivie easing. Which merely the devalues Fiat currencies. Hyperinflation. This hyperinflation and the sheer determination of HODLers and early adopters have majority of the bitcoins in the network. Subsequently mean the bitcoins price is sustainable, yes will experience small contractions due to amateur crypto enthusiasts withdrawing money, but the HODLers are what keep the price sustained above US$3000. But once we drop below the $4000 mark the masses will adhere to the rumours and speculation. That bitcoins use case is to protect Peoples finances during a financial downturn. And we will see a correction to a bull run. As mentioned above the hyperinflation factor also complements bitcoin as well, the principles are exactly the same, fundamentally the same as gold and this is why after the 1929 great depression, gold was tethered to the USD. It holds its value people trust it and they believe in it. It may only be a small percentage of the entire population that believe in bitcoin, but this principle is exactly the same for bitcoin. We haven’t even considered the halving which is going to occur in May 2020 all of these factors suspiciously timed perfectly fuel the exuberant increase of bitcoins price and popularity.
Time will tell, this is not financial advice every single penny I have is invested into bitcoin and every single penny which I am over the next coming months will be invested into it.
On to the technical side of things.
As of today, moving average 200 and the moving average 500 have crossed. MA 200 Will be above the MA 50 which indicates bear movement. We should anticipate a price to drop over the coming days and bitcoin normal behaviour in price drops are that it will be significant and substantial, expect 39% decrease and more. Before then we will see it drop into the realms of the US$5000 this will trigger automatic sell off of people’s long position stop losses. Of which will fuel and catalyse further decline as people withdraw the bitcoin and hedge into stable coin driving the cost down further into the US$4000 range. Once we get into this range, we should expect to reach support line of US$3500-US$3300 which we experienced in November 2018 to February 19. This price range initiated the well-known 2019 bull run into July.
HODLers, early adopters and currency crypto enthusiasts will be licking their lips and scraping every single bitcoin nine can at this bargain of a price. It’s an early Black Friday. Consequently, this time round with the timings of halving, the pandemic and excessive quanitivie easing, we should expect to pass the US$13,000 mark before November and continuing up into 2021 where we will break through US$20,000.
Comment:
Once you clicl the chart and see the path of price to date 29/03/20. We are currently following the anticipated decline perfectly. I am currently waiting for the price to fall past $5600 over the next few hours. Once the NYS opens I hope to see significant price drops and stock trading circuit breakers to be tripped. This I believe will affect BTC and drive the price down further aiming to $5000 by tomorrow night.