I am not an expert, but I let me make my prediction...
I think that we are going to close this season in a price around 16k. It will be very difficult to reach a new all time high. We need to endure a lot of times to reach prices around 15k, let the impatient investors to exit the market and then be ready for the bull market during 2020 that would provide us the new ATH.
I think that we are going to close this season in a price around 16k. It will be very difficult to reach a new all time high. We need to endure a lot of times to reach prices around 15k, let the impatient investors to exit the market and then be ready for the bull market during 2020 that would provide us the new ATH.
Impatient investors are cashing out constantly. People think they aren't because they assume that we have to see multiple +30% corrections. If the demand is there, which was the case on the way up, the bulls have no problems eating through the sell orders thrown at them. The volumes were crazy high on both sides of the book.
Most conservative investors tend to sell when they reached a point at which their gains have surpassed 50%, which for them is a massive gain knowing where they come from. They did it in a time span of 6 months. That's just madness. They probably expected to sit on their coins for a year or so, lol.
