Bitcoin Returns To It's Normal Value
Ever since Bitcoin raged to $8,000 and then struggles a number of times to $8,500 and then nearly $9,000 it seems to me that it was overreaching and the real value for bitcoin was around the mid $7,000 level. At the moment we are holding at $7,600 and I expect to stay around in this area for a while now.
Since the $7,500 run there really has not been anything in the news going on that would suggest that bitcoin should be any higher.
There are a number of items coming up which should support bitcoin to new highs but those are still a few weeks out and still total speculation.
Some of them being BAKKT launching - Well maybe we all know how many times that has been delayed now.
Fidelity launching their services - again this could be a very limited roll out like they did last time which wouldn't cause the price to spike.
Bitcoin halving is still a good nearly year away.
The real bull in the corner very well might be Litecoin with its halving just 62 days!
At the time of writing this I see Bitcoin slowly climbing again to $7,700 and we might see $7,800 but I expect another dump right after those levels.
Of course this is my own personal views and how I feel what will happen over the next few days.
What are you thoughts on Bitcoin over the next week or two ?
Maybe this is the right time to invest in it!
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Very well could be, I don't see it going much lower then what it is now. If it does I would expect $7,000 to be the key level it holds at if another dips $7,300 that is unless some horrible or some really good news comes out which you can never predict.
Accumulation is a good thing right now!
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I happen to agree with you bud... I kind of prefer it this way... let's move sideways for a while, lets go up slowly... too soon for parabolic.
Exactly there was no reason behind being up near the $9,000 level already there was nothing behind it to support it. Now I am sure there will be within the next 1-2 months but this pull back I expected.
Also agree and prefer it so that the internals can have adjustments to prices which setup some great demand and supply balances for support levels.
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