Bitcoin Price Prediction
Well we have all experienced a nice little pop in our Cyrpto, hopefully steem keeps out pacing BITCOIN. But Bitcoin is still the leader, so lets see where it is going. This prediction is based a little off of the charts, but mostly of the price action yesterday. If you where watching it has gone up a 1000 usd in about a day. In one of my previous posts I stated that the exchanges were at the highest short positions that they have ever been at. Also the shorts were with margin accounts. Now I don't know what the margin rates are, but the cyrpto exchanges are the wild west still, and my stock brokerage is 50% margin, so I would not be surprised to see 25% margin accounts out there. That is total speculation on my part though.
Here is a quick picture I found on the internet. The crazy part is when there are a lot of shorts you get massive moves, and then little rest periods. I feel that bitcoin will creep higher triggering the brokerages to buy the margin shorts, because they have to buy to close the position, and it will be a self feeding rally. I feel we get to 9000 usd very soon. Many shorts even trying to protect their gains can cause this, bitcoin will eventually hit the spot of max pain, and 500 dollar jumps could take minutes, at least I am hoping, because I am long Bitcoin and Steem.
I'm long on BTC and Steem too, so I'm hoping for the exact same thing. It was nice to see some movement and excitement upward for a change yesterday. But, I'm a very patient person in this for the very long term. I have no problems waiting for a few years for this to all pay off...I hope. :)
Ya, I don't mind waiting either, but the hoping part kinda throws me.
It rise to 7k today!Nice
Hoping that the uptrend price will continue even it is slow right now after how many months. Hoping that there will be no more corrections to happen so soon. To see bitcoin at $7000 right now is a big help to not lost hope on bitcoin. more people will trade again.
Ya, it is crazy how it effects your emotions as humans.
I completely agree. I can see $9000 or even $10000 by the end of the summer. It would be nice to see a little stable growth and put an end to the Yo-Yo ride we have been on for the past several months. I am a long hodl'er on these as well so I have never truly been worried but it is nice to see a little green for a change and hopefully, we can wash the blood off the streets completely for a little while.
I can see BTC touch the US$ 10k by october in the good case...
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If you're right, it means Steem should follow. As the leader, Bitcoin has a lot of influence over the other tokens. It has been nice getting Steem more easily, but it would be nice to have higher rewards as well if the price rises.
I do think these periods of stable growth is good though. We allowed a lot of people to buy in the 6300-6800 range which is really good. Now for the next group of individuals to buy in the 7200-7400$ range and keep building up!
@bigram13 i think more pump will come in our crypto market.