Bitcoin Usually Has A Rough January + CHARTS

in #bitcoin7 years ago

In one of my previous articles I wrote about the difficulties BTC had in January, 2017 and concluded that we might see a similar scenario this year - You can see the article HERE. I am not sure if Bitcoin will hold over 10,000$, but historically this is a pretty good entry point.

Let's take a look at the charts

jan. 2015.PNG
Source - TradingView

76655.PNG
Source - TradingView
55663.PNG
Source - TradingView

As we can see from the charts, January is indeed a bumpy ride for Bitcoin. As we all know, when bitcoin suffers, Altcoins also suffer, the good news is that after every dip, there is a massive upward movement, new high after new high. The main question here is - Is 2018 any different ? Yes and No.

Yes, because the market cap was 830B at one point, which has drawn a lot of attention from regulators. A lot of Bitcoin's late troubles is due to political reasons ( China ban, South Korea regulations, Europe regulations etc.)

No, because buyer behaviour hardly changes that fast and charts don't lie for sure. The sideways action from the past few weeks had to resolve and it did, that activated a lot of panic selling, so here we are.
879999г.PNG

Historically (if this is the bottom) this is a unique buying opportunity for the projects you love! Be careful and respect your hard-earned dollars, don't dump them in some shitcoin, which is not going to be around in a year or two.

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Great analysis, it's really great and unbelievable. as you said, this year might be all cryptos has suffer due to political reason but last years what would was the reason? As you predicted, from today, crypto market pretty moving upward. resteemed.

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