BTCUSD : Bitcoin To $25K USD Is Only A Matter Of Time
All these FUD in Cryptocurrency space at the moment have caused the entire Crypto market to fall in terms of price along with its total market capital.
But from a technical perspective every drawback following a surge in price has retraced surpassing the recent high by a substantial amount always.
In that case this drawback we're experiencing in the price of Bitcoin right now is definitely going to retrace to a new high of $25,000 USD without any doubt as per applied Fibonacci retracement levels.
" When creative people make the supply, predictive people will make the demand " - Don Reign (@donreign)
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I think your analysis is probably correct but my fear is when people say "definitely" and "without any doubt". Everyone should read the book "Rogue Trader". One person thinking the market was definitely going up got into a lot of trouble. Always be prepared to be wrong, however unlikely it seems. This isn't FUD, it's experience, I'm confident Bitcoin will hit $25k but I'm not risking everything on it.
Your statement is coherent. I'm only sharing the technical perspective of possibilities of the current situation although I'm well aware for them to be ignited a pessimistic fundamental news or influential incident in the crypto space is essentially required.
People forget the fact that bitoin was only $3000 few months ago :D It goes to $30k in few months :D
Maybe $100K at the end of the year and another drawback to around $39K in Q1 in 2019 before retracing and making a new high surpassing $100K.