Reasons why I am Bullish on Bitcoin, and I am also making some Alt Picks (short and long term).
Look at the above, it is very simple:
- We have broken past the 50 day moving average and it is now acting as support.
- We are making consistent higher lows.
- The price has been very stable.
- Last but not least we are at the end of the wedge, and at the end of a long descending triangle that has never broken past the solid bottom of $5800. Something is about to happen, my guess we are going up!
There is lots of Bullish news stories right now, and news of adoption in my opinion is the most bullish.
- Middle East's First Central Bank-Backed Crypto Exchange launching in 2019. This will being more buying and selling opportunity to the Middle East.
- Ethereum Futures Contracts are coming and Ethereum foundation is partnering with Goldman Sachs to bring it to us, this could drive the market on its own!
- Bakkt is coming this year "Bakkt (pronounced “backed”) is a blockchain ecosystem that leverages Microsoft's cloud solutions to provide a series of cryptocurrency-related services, including a federally-regulated open market for the trading of digital assets, a cryptocurrency storage service, merchant services, and other consumer applications. Having already signed on a number of important partners, including Microsoft, Starbucks, and the Boston Consulting Group (BCG), Bakkt is working to create a network that would allow individuals and institutions alike to seamlessly store, acquire, or spend digital assets anywhere in the world". This could be a bigger catalyst then Bitcoin Futures.
- Bitcoin ETF decisions still looming and could happen as early as November or as late as Feb. 2019.
- Stocks are selling off, and finance people will be looking for someone to put there money to make gains. I believe once Bitcoin gets close to or above $10k, we will see the FOMO begin and the price skyrocket.
- CNBC recently aired an analyst predicting that Bitcoin is about to Boom! Main stream attention on a major network like this is the kind of thing that can help get the ball rolling.
My Short term Picks (invest at your own risk)-
- ARN (super high volume, low suppy listed on Binance), try to get in below 00008, I think it will hit around 00012 soon.
- CMT (Mainnet Release 10/15/2018), Try to get in below 0.00002100 and get out the night before mainnet release. It should get about 0.000027.
- MAN (Long and Short on MAN, but Mainnet is going fully live December 30th), If you bough Matrix when I did then you are down for the moment, but as of right now its at $0.23, I expect it to hit at least $0.38-$0.44 when the Mainent goes live, then it will likely dump 30% of those gains in the days that follow. However I still believe this token will hit $14.00-$22.00 when Bitcoin gets back to $20k, higher if Bitcoin goes higher.
My Long Term Calls (Invest at your own risk)-
- MAN, as I said above I expect $14.00-$22.00 when Bitcoin returns, Matrix is like Ethereum if it took the Limitless Pill and Steroids at the same time. Matrix is has an excellent team, the code is superior and is governed by AI, the project has some of the best partnerships in crypto (One Belt, One Road partnership), One Belt, One Road is a Trillion Dollar initiative that will reshape world trading. https://www.mckinsey.com/featured-insights/china/chinas-one-belt-one-road-will-it-reshape-global-trade.
- LOOM, This project is basically building a product that will fix Ethereums scaling issue. Lets face it, people are creatures of habit, for example, Bitcoin is by no stretch of the imagination the best Crypto or Payment solution but they were there first so people buy it first, people even mistake Bitcoin for Crypto. And following that Logic Ethereum is number 2, while there are projects that have the potential to be better like Tron and Matrix Ehereum is still the top dog. So what does this all have to do with LOOM, well... Do you all remember when Crypto Kitties were so popular that they were breaking the Cryptonet? Well that is Ethereums biggest issue right now, it is great so long as there is not too much traffic on the network. DAPPS, (Decentralized Apps), can be written to so almost anything on the Ethereum network just likes APPS can do nearly everything on a phone or computer, but if too many people are trying to use that DAPP at once the network can not support it. LOOM is trying to fix this and their fix looks very promising so far, you can read more below:
The institutions want to make gains and they want to use Bitcoin to do so, but they will not jump on board now with "Hope" they will do so when they think its a sure thing. They will sacrifice the extra gains they would make by getting in at $6k and riding it to $25k for the assurance that comes with getting in while it already has a ton of momentum behind it. What we need is something to start the fire, Bakkt, Eth Futures, Bitcoin ETF, or something. One of these events will be the kindling. The small sticks burning will be the Commercial inverters get in, (people like us). But when the fire starts consuming logs, that's when when the institutions get on board and when that happens it will be like throwing Gasoline on an Open Flame!
Where do you see Bitcoins price going and when?
I am not a financial advisor and this is not financial advise, invest at your own risk.