The rally is on!
A while ago, I wrote an article on steemit about a heavy price drop of Bitcoin after the start of futures trading (see here), which turned out to be even bigger than I had imagined. A little later, I also argued why the price will eventually recover and reach new heights. I didn't, however, see coming the news from Korea, so I was quite surprised to see the Bitcoin price dip a second time after first recovering back to over 16,000 after being beaten down to 11,000 shortly before Christmas.
What happens next?
Anyway, we're back on track. We're seeing some strong technical buy indicators in the short-term and mid-term charts, but also this time the price movement will be more sustainable as participants are aware of what caused the decline.
The exceptional news coverage that happened upon the dip before Christmas has also caused additional attention and -to our all advantage - new interest from people to get into crypto upon having a nice opportunity here.
In general, I think that a lot of uncertainty has been taken out of the market, so there's very little that can actually stop Bitcoin (and crypto in general) for the next couple of months. As a result, I expect a nice rally with the occasional pullback, and I think we'll see Bitcoin price well over 20,000$ during Q1/2018.
Wish you all a happy new year!
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