Bitcoin Price Forecast 12/6/2017

BITCOIN TO THE MOON! Current Market Cap: $379.96B (+$42.7B in 3 days) Bitcoin Dominance: 59.2% (HIGH) (+3.3%)

Bitcoin is finally getting the attention it deserves but the insane price jumps are beginning to cause quite the mania.

As more people tell friends, family and coworkers about cryptocurrency the networking effect seems to be growing exponentially. Everywhere you go people are using the word "bubble" to describe cryptocurrencies right now. The difference between Bitcoin and other speculative bubbles is that Bitcoin's price doesn't have a ceiling because of the nature of the technology itself. Unlike traditional investments which are sold in whole units (ie one car, one house, one diamond) Bitcoin can be divided into 100 million parts and thus the value will continue to rise and decreasing amounts are transacted as a result.

Remember that there is less than 0.003BTC per person in the world. If every millionaire in the world wanted to own one Bitcoin there wouldn't be enough to go around!

As the price continues to skyrocket people are reconsidering selling their Bitcoin. The market has only seen TWO small corrections over the past week as we have been shattering all-time highs. Right now we are above the moving average which is around $12,400 and stochastics indicate that we are overbought- but none of that seems to matter to the Bitcoin bulls out there. People are in accumulation mode as we approach the key dates of December 10th (CBOE) and December 18th (CME) when Bitcoin futures and options trading will be opened officially for the first time in the US.

This is HUGE news and people aren't taking it lightly. Informed investors and hedge funds are trying to stash away as much Bitcoin as possible before these events take place in order to beat the masses. What will happen after the futures trading commences is anyone's guess but I think we will continue to see the largest bull run in history.

I suspect we will see one more minor correction before Sunday which is when the first exchange, the CBOE, begins trading. After that the sky is the limit!

Likely Scenarios:

• Bitcoin will not stop until everyone knows its name

TLDR Version:
Expect another massive bull run as we approach key dates in Bitcoin's history. As these milestones are reached we should see some price correction but we might be paving the way for mass adoption very soon. Hold onto your hats and don't forget to BUY BITCOIN!

Price Target:
$13,950

*Never invest more than you are willing to lose and always do your own research before making any investment decisions.
(All pictures are free domain images from snappygoat.com or created by myself.)