Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Good morning WO gang! I see that we continue to build up support above $10K. For the last 48 hours 3000 BTC were added to Coinbase bid book and more than 500 BTC to Bitstamp. Meanwhile the sharp decrease of BTC's held on exchanges continues (over 15% in the last 6 months):
During a bull run nobody can predict what will be top before the next pull back. In the Spring of 2017 we had 3x increase and in the Autumn of 2017 - 6x. Both periods were full of 'bad' news: PBOC FUD which casued several 40% crashes and moreover restructuring of the market, which was 95% in China's exchanges; Ver's BU fork attempt, bcash fork, nov. cancelled fork, various shitcoins pumping to the roof, etc. And all of that could not stop the bull run. I am even thinking that the bad news were actually a catalyst for this incredible bull run. More crashes, less weak hands holding the price down. And at the same time BTC's held on exchanges increased 2.5x.
tl;dr It is quite possible to see a bigger bull run than we expect, like 2017's Autumn 6x. So, my price tag for selling something this year will be between 40K and 60K. I know this sounds crazy, but it is better to be prepared than surprised selling too early, isn't it?
My prediction for end of 2020 was $13,000 to $14,000. Im going to have to stick to my initial prediction although clearly Id like the price to be higher. I dont think itll be lower than $13,000, I am quite sure of that.
During a bull run nobody can predict what will be top before the next pull back. In the Spring of 2017 we had 3x increase and in the Autumn of 2017 - 6x. Both periods were full of 'bad' news: PBOC FUD which casued several 40% crashes and moreover restructuring of the market, which was 95% in China's exchanges; Ver's BU fork attempt, bcash fork, nov. cancelled fork, various shitcoins pumping to the roof, etc. And all of that could not stop the bull run. I am even thinking that the bad news were actually a catalyst for this incredible bull run. More crashes, less weak hands holding the price down. And at the same time BTC's held on exchanges increased 2.5x.
tl;dr It is quite possible to see a bigger bull run than we expect, like 2017's Autumn 6x. So, my price tag for selling something this year will be between 40K and 60K. I know this sounds crazy, but it is better to be prepared than surprised selling too early, isn't it?