Post
Topic
Board Speculation
Re: Bitcoin - Bullish or Bearish 2018
by
racebum
on 20/05/2018, 05:29:01 UTC
neutral. range bound. i think 6k was likely the low and if it's re tested one of two situations will happen. a fake out to 5500 or so that gets everyone short and turns on a dime or a 2014 repeat situation where were are at btc 4k around christmas. i do not find evidence to support the 2014 repeat. the 2017 run was much smaller at 2000% and we did not have the only major exchange blow up like they did back then.

6 to 11.7k is my guess. people need to be shook out. i'm digging the increase in profit mining vs the low of this year. fewer people selling hashing power or mining outright. i would like to see it stay a bit bearish for a time. let people build up a supply for a year or so before the uptrend begins again. market needs to consolidate. ideally the lightning network gets ironed out before 2020. that could start a MAJOR rally which would put 50-100k in the cards especially when you consider the halving