York, good afternoon. I am an Afrikoin follower and I am glad you both friends from what I've understood reading your posts. I would love to hear your opinion. Do you excpect the price to drop to $800 in the upcoming period? If so when aproximately? Because you mention that the price will rise at the end of April and today's it's 1st. Also why you believe that the price will drop that much now that Japan which is in the top 5 economies accept BTC as a currency? Thank you.
First of all I dont expect a price drop (short term) because we are in a consolidation period. We are slowly moving upwards away from the $1069 floor. We will have a quite flat movement upwards to $1130. After that expect some resistance of some weak hands who cant handle the bullish truth. It depends on the FUD and the upcoming news if we see 1 last downmove (zone 3) before we start our next bullrun. Sideways will almost everytime result in a drop before we go up. Dont expect any drops near $800. Bitcoin is way too strong for that.I would be very hard to break through the $1000 floor once again. Only rumours of bitcoin being forked could manage that.
For example when you see a non-inovative based company have the risk of splitting up, the value decreases with at least 50%. Bitcoin only decreased 30%. And they are still saying that bitcoin is volatile.
The volatility of Bitcoin is decreasing, every year more and more. Thats why a 1000 EUR floor is becoming a known fact in the upcoming months. The month april is still tricky because of its sideways movement. Its normal for a market to go sideways after such a decrease, its healthy. But bitcoin traders dont like healty movement they are risk seeking traders. Thats why I expect 1 more downmove before the bullrun.