Bitcoin to 25k is conservative.

in bitcoin •  4 months ago

Good day peeps, its been quite a while....Hope y'all super awesome. Well, i have to admit that im not the best in advanced TA, Gartley pattern and all but with the knowledge that i have about it, i have made the chart below based on the information we have from Jan 2017 when BTC was been traded ~$1000.

( TA pros please correct me if im wrong, not all Fib levels are taken perfectly though while plotting XABCD & im unsure too if XA could be taken from 1k to 20k)

Also with the Bullish weekly engulfing TA to me looks super bullish and things are starting to get exciting with many great news in the crypto space aswell, especially in Bitcoin.

-Coinbase Index Fund

If you US citizen, accredited investor and plan to invest atleast $250,000 this is for you and much easier for institutions to work with exchanges aswell.

-Chicago Board Options Exchange (CBOE) - VanEck Solidx ETF
We all saw what happened with the introduction of CME CBOE futures. That undoubtedly is one of the main reasons that pumped up the price for Bitcoin to 20k. ETF is going to be even more powerful and many in the crypto space claim that we could see BTC hit $60,000 by the end of the year, but lets be conservative, i guess we could see $25k .

-BlackRock & Goldman Sachs into Bitcoin

This is why Black Rock matters. They have over 6Trillion in assets management. Again being very conservative, if they even put in 1% into cyrpto, we will surpass the Jan 2018 All time highs easily.

The very fact that Goldman Sachs backed Fin tech company Circle buying one of the worlds largest crypto exchange Poloniex, coincidence? If banks are against crypto they wouldn't be doing all this. Moreover, the to be CEO of Goldman Sachs David Solomon is pro Bitcoin too. So I guess its about time.

-Coinbase We Gift Parternship
Lastly if you are like me with everything invested in crypto and dont want to cash out, you can use your Coinbase account to authorize WeGift and the gift cards you can use at Uber, Amazon, Google, Nike etc. It comes with zero fee and instant transaction.Not just that, you will be given bonuses and discounts when you use WeGift to shop in these stores.

I understand many of you are familiar with whats going on and already know of these news via other sources but for the rest i hope this helps.

Hope this was helpful and informative peeps and do sign up to Binance or Huobi for trading/buying crypto & in IC markets to trade crypto/usd pairs in MT4. Also consider using BITMEX and try your luck at 100x :)

If you enjoyed it please do post your upvote, comment, resteem & follow.

Bitcoin : 1EDEU9A9D1pJYGkM8JaEEUgdH7U8yUNeXp
ETH & ERC 20 tokens : 0x277be3fe5b9b6fed7eff380bff320f9c1caf69a2
Steem & SBD : @amreshchandra :)

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To the moon, the higher the better.

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Absolutely brother. Nice to see you here:)

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Coming days it will go down

i think correction period may be complete. at present bitcoin next target that means resistant level 9500$ cross then 11500$. @ amreshchandra this is my personal opinion and Your?

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Seems realistic to me

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Exactly mate, as long as we are above 6k we are good to head on to 9.5 k, 11.5 k and yeah obviously break the ATH. Risk Vs Reward at this point of time is great...Im bullish.

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Higher highs..:) as long as we hold 6k we are good..

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are you thinking it will break the resistant and go up higher high
or it might another chance to lower low

I don't really know...
You don't really know...
We don't really know...

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Nobodys knows

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but we go with whats likely to happen and its very likely for BTC to hit 50k if the ETF gets approved and the institutions come in ...

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¯_(ツ)_/¯

what do you mean use BITMEX and try your luck at 100x? what is that?

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100x leverage mate. Well i dont recommend you doing that if you are new especially with crypto as for the volatility, you may get liquidated pretty soon.

Yup we are waiting for that gread day ahead

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Hopefully soon:) Nice to meet you

Bitcoin not valid in India why ?

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It is valid everywhere mate.. Doesnt matter where you are from you can use it. Decentralization, Border-less, transnational...yea?

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Hi I think bitcoin is neither legal nor illegal currency in India. Please correct me if I am wrong.

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China, India, Korea....every govt. has been banning BTC like every second day..But its still around yeah..
Its been long since i have stopped thinking the idea of govt. banning Bitcoin seriously..

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But bro direct bank withdrawls are banned.
So in the mean it is 1 type of ban only.
Can you help it out my point.
Please. @amreshchandra

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Dont withdraw mate use it as a medium of exchange (with your frnds and people who accept Bitcoin) /store of value? Im unsure of withdrawal process in India though..

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It is valid just we can`t buy-sell it at present using bank transactions. Peer-to-peer transactions are allowed

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Charge in Bitcoin for your services..Ofcourse of now you dont get paid in Bitcoin from your workplace. If in case you do any freelance stuff, you can for sure transact in crypto .. Nice to meet you :)

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Yeah that is absolutely right we can starting charging in bitcoin and it has already started on small scale in Pune , Bangalore and Bombay (India). There are many hotels who accept Bitcoin as payment mode. Crypto future is quite bright and much more is yet to come on its way :)

TA are the best for the market , but Bitcoin is not following any TA, its just nose dive down and then fly up and then again down , this is pattern which is made by Bitcoin, lets hope for the best, Thank you and keep us updated with TA

upvote my comments and reply

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Well it actually does mate, we retraced 61% ( Fib level) from ATH which actually is a good buy zone . Last week had a bullish engulfing too, that could do a much awaited rally too...
and yea i get what you mean sometimes Bitcoin just does what it does...

@amreshchandra Dude you always come with a great blog in front of us ..
you are doing #awesome man ..please keep it up with these kind of blogs .
and i also have #interested in the same ..
i am going to #resteem it....

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Appreciate it man, nice to meet you and glad it was of use

hi @amreshchandra, I am also from india, nice analysis and post. is it possible to make new high for bitcoin? and now a day in india there is ban in crypto currency so what you advice is it safe to invest for indian people in crypto currency? sir suggest me best wallet for all crypto currency holding.

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Hey bro, if you are only using BTC then 'Mycelium' wallet will do. ETH and ERC 20 tokens ' Myetherwallet'
If you have multiple coin holdings ' Ethos Universal Wallet' would be nice to have. However, the safest would be to have a ledger nano,

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thank you very much for your guidance.

Ive done some investments on the Iconomi plattform. Is it so much diffrence between ETFs and DAAs? Of course ETFs brings alot of new investors but in the end isnt it all about risk manegment?

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Not too sure on Iconomi mate, i had some in the past on Exchange and that's it.
Well risk management, in crypto we can risk a little to make a fortune?

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I started to looking for crypto index funds. I think crypto20 was one of the first of its kind I heard of. Later i found Iconomi wich seems to work just like cryptofunds manegment. Anyone can of course correct me if Im wrong. But I think platforms just like Iconomi might be the future of funds, as the cryptomarket may take over tradiotional stock markets. But thats just an idea of the future.

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Thanks for sharing mate. Honestly speaking i dont know what many of the coins are used for. So Iconomi is like decentralized crypto asset management sort of?

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No problem, glad that you appriciate! Check out this video. And hit me up if you start to invest in any DAAs.

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Good post..good info..thank u!

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Its really a good analysis done by you, getting information on Bitcoin.

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Im not sure if the Gartley pattern is correct or not. For the rest of it yea thanks man

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You gotta have connections and influential friends here mate to be able to make it Big...and ofcourse your content should be amazing aswell..Wish you well man

@amreshchandra wow! nice information throw your post

I appreciate the added info on the firms applying for ETFs and would like to see more of this. There is plentiful technical analysis these days and yours seems insightful. But I do think that more information on the ETF situation is a good angle. Also, most current info on the ETF situation seems to either skim past GBTC or not mention it at all. What are your thoughts on this. Isn’t GBTC considered an ETF?

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It becomes n ETF once SEC approves it.. I dont think GBTC is an ETF as SEC hasnt approved any ETFs yet.The only hope is CBOE ...

Well said. Everything is possible in the crypto world. When we were at almost $20,000, who knew we would come down to $5750. So, the target mentioned by you is quite possible. And I thing if we cross $20,000 anytime, it is in human nature to FOMO and we might even see $50,000. But what does it mean in terms of its adoption? With segwit adoption still in few numbers and lightening under development since a long time, do you thing it will be a major roadblock for Bitcoin price?

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Hey yeah..20k to 5.8k was disastrous. But as mentioned its a 60% retracement, key Fibonacci support level too..if we break 6k we can still see 4k range but as of now still bullish af plus the adoption part too🚀

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Nice blog good job dear

Inteating post!

nice work sir

Its really a good analysis done by you, getting information on Bitcoin.
keep it up sir jii

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Thanks bhai hope it helps buy some more haha

Bulls Response to Warren Buffett Criticism : - Warren Buffett, the legendary investor, has frequently been criticizing the cryptocurrency markets. The chairman of Berkshire Hathaway doesn’t have any enthusiasm in the emerging market. He believes cryptocurrencies are neither an asset nor a currency. And thus, he thinks it shares similarities more towards gambling and not investing.

The major reason for his rejection lies behind the concept of fair value. Stock market investors always prefer to gauge the fair value of the asset before placing any investment.

During the annual shareholder meeting of Berkshire Hathaway on Saturday, Buffett called Bitcoin (BTC)“rat poison squared.” The world’s third wealthiest investors also promised that he will never invest in the cryptocurrency market.
.
What you think about it sir ?

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really helpful.... good wishes to Bitcoin.

such your post is very nice

@amreshchandra sir i think correction, Everything is possible in the crypto world,up and down

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We going to 50k, everyone strap in, Ethereum going 20k

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Lol yeah..Lets hope

I hope when Bitcoin runs, altcoins will run as well. So far only Bitcoin has recovered a bit and does look bullish. Alts on the other hand are looking weak so far.

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Alts will get rekt when btc rallies..only the stronger alts will survive

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What Alts do you see surviving, any in top 50 or more specific security tokens/minable/POS/etc...

Good study good article....I also hope so BTC to the moon soon.....

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Hope so too bro, nice to see you :)

welcome back to friend!

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Hi bro good to see you. Been a while haha

After many loses in altcoins waiting for a hard pump very hardly hope will recover my loses please help me

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I also hope mate, im down well over 6 figs

i think bitcoin will be 20000 dollar in the end of 2018

Hi,
There are many posts which are talking about the Bitcoin Price to Go higher & we see bitcoin having high resistance at @8100 levels in the past 2 days time.I see CBOE ETF the only trigger which would further raise the price.But what will happen if the ETF doesn't get approved? No one is talking about that..would like to know your views..

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It looks like the ETF from the Winklevoss Twins has been rejected again. However, one member of the governing board did have some positive comments about the future of BTC offerings, and that means it's not all bad news - just that more waiting is the order of the day. Once these ETF offerings get it right, and the market demand and increased interest begin to provide more money invested into BTC, it should help to further stabilize the price volatility. As the volatility of cryptos starts to calm down, and we see which coins and tokens will survive the current environment (maybe 2 or 3 more years), then I would not be surprised to start watching the Coin Market Cap move into a few TRILLION$ of dollars. At that point, anyone holding the surviving assets is going to be a really happy person. I'm holding a few of the best contenders, IMHO, and I'm just going to wait a couple of years to see how it forms up. ETF trading will be approved and adopted at some point. Nobody knows when it will be, but it shouldn't be much longer and the cryptoshpere will see another boom...

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CME CBOE futures took us to 20k. ETF can take us to 200k tbh...for now lets do a conservative 25k by end of year obviously if the etf gets approved which has a high likelihood..hope for the best mates. Cheers 😎

Is that right??

The State Securities Commission (SSC) has warned industries to avoid transactions, issuance, and brokerage of cryptocurrencies. The SSC said that trading in cryptocurrencies is similar to money-laundering since they are not legal tenders. Furthermore, Vietnam's central bank, the State Bank of Vietnam had given a nod for banning the import of cryptocurrency mining devices last week. Even though the decision is temporary, it affected the crypto market in a negative way.

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People think that the focus means to say yes to what he has been asked to concentrate on. But the meaning is the opposite. This means to say goodbye to thousands of other good ideas. But you have to be careful about this task. I'm so proud of what I've done, and I'm also proud of the things I have not done. Innovation means that you can not say thousand things.

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comments your views ..

The boost in prices will only happen if there is mass adoptions. But with the issue of all the fiats being devalued like the euro and the usd...there is becoming less and less safe assets to place wealth. Gold and silver are good but can be maniplulated by the fiat system. Realestate is good but as we see in the western world the prices are overheated currently. So what does this leave? Cryptocurrencies? If this happens it will create a HUGE wealth transfer. I think the 3 assets that will recieve attention are PM, crypto and beyond that would be realestate....at a later date.

@alhoppo

Nice information and content.

If bitcoin go 25,000 what about other crypto currency?

i think correction period may be complete.bitcoins next target is 9450 if bitcoin cross this then next target will be 10500

@amreshchandra, is there any hope in future that Indian Government take off the band over bitcoin?

great post! Thank you

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Cheers brother Nice to see you

Bitcoin may climbing to mars next weak then it is going to pluto..................................................................................

Hope bitcoin will be $50000 over in this year.

Yea I think once a model is established for ETFs the real flood gates will open and we will be in a multi Trillion dollar market cap. After that currencies will no longer be measured in dollars.

What You say Bitcoin can Achieve 25k or more than this ???

Congratulations @amreshchandra!
Your post was mentioned in the Steemit Hit Parade in the following category:

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nice article. i like this. can you tell. me more about blackrock...?

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Its the Big daddy B....Blackrock 6Trillion is assest management...

D realastic and such informative topic to increase our knowledge.

Since the February crash BTC price has been in a consolidation phase where the 6K bottom has been re-tested and held 3 or 4 times. Many, including myself, thought we would see it go lower - maybe into the 3K range. But, so far this has not happened - and we're not going to complain about that. Hopefully, the BTC price will start to rise again - and the next high should make 25K look like small potatoes. I'm expecting the next spike in price to be in the 60K - 100K range, but nobody seems to know when that will happen. It could take another year or two??? Whatever the case, buy this current dip and HODL for the next high...

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Exactly mate. 6k is a strong support. It shouldnt break. Hopefully by end of year we can see new ATH

What's the guaranty?? It's only prediction and you know these prediction may become true but also it may not!

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There are no guarantees...Its the likelihood

I agree with you, but I think BTC will reach even more than 25k because more institutional money will follow Black Rock an Goldman Sachs. Rally enthusiasm is very contagious.
Enjoy the next rally.

Hi @amreshchandra, it will obviouly break the resistant range and it will go higher and higher. What's your view for the same?

I am also waiting fot this Landmark from January 2018 lets see when we can achieve this landmark i am also bullish....

Sir, Do you really think that bitcoin will reach $25000?

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Downside is limited, upside isn't. very likely to hit 25k and beyond...

Nice job @amreshchandra hm hope that the bitcoin price keep on increasing and touch the 2k mark .
Lets Hope for the best man

What does this mean for ripple?

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Ripple was my first investment, i bought Bitcoin to actually buy ripple lol. Well, i guess we'd see a bloodbath in alts when BTC rallies and once btc stabilizes alts will run up too...Well thats what usually happens

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Same with me bro, we'll have to see what happens then

We have a little bit more of the downside before another bull run. If you are interested on why I think that check out my analysis:

Bitcoin (BTC/USD) Elliott Wave Analysis - Uptrend Continuation or a Lower Low? (Target 3000$)

https://steemit.com/bitcoin/@drumsta/bitcoin-btc-usd-elliot-wave-detailed-analysis-uptrend-continuation-or-a-lower-low