Bitcoin Price Forecast 2/17/2018 (Express Version)
Hold on! We're in for a wild ride :)
Current Market Cap: $505.85B (+$55.66B in 2 1/2 days) Bitcoin Dominance: 36.3%(+1.6%)
With the bulls gearing up for another run the Bitcoin prices have been steadily on the rise this week. From a low of under $6K we are nearly at $11K again and things are starting to look up.
Can we sustain the momentum and continue this uptrend?
Today I'm using three different trading tools and indicators: Bollinger Bands, Stochastics and MACD.
Bollinger Bands show we are above the moving average which is around $10,300.
Stochastics indicate we are overbought.
MACD is way above the zero line and possibly tapering down. Watch for a crossover of the two moving averages.
TLDR Version:
Bitcoin is having a fantastic week on the heels of all the positive news. Expect prices to hold above the $10K zone for today through tomorrow, with resistance around $11-11.5K.
Price Target:
$11,300
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Over 10k again. Looking very bullish for all the cryptos
I think the price of BTC will fluctuate around 10k, I guess. Maybe around 12k, it's difficult to estimate. But the point is, the price will not grow but fluctuate.
Primarily you must realize one extremely important thing. Of course, we are in the crypto bubble. Imagine the situation when every speculator sells his crypto coins (BTC or whatever) and only people using coins for real transactions (paying for goods, services,...) stay on the market. The price would crash immediately. Do you need to sell all of your coins? No, of course, don't do it! But you must be aware of this truth. So the most important in this bubble is that you believe there will be more people willing to buy coins.
All right, right now, there are people who haven't heard about cryptos but it's insignificant. So it's all about market psychology and if the price of BTC is under 10k there are speculators who are out of the market right now (willing to buy coins in the future and the price will subsequently grow when they step in) and if we are near 20k almost everybody is in and the prices have no more potential.
You are correct we grew entirely too fast and need time for the market to adjust. In a few months we should have more investors and a flood of new money as the market stabilizes.
yes it is as simple as more buyer = higher prices, so we need more people buying in order for the price to rise. Majority of people who haven't heard of cryptos are not going to buy unless they need to, they are just not willing to invest and take any risk. But they are the biggest crowd, so they need to be counted. I am thinking there will be a new monetary system, and if it is gonna be crypto system, then those people will be forced to adopt and that's when the biggest gains in crypto will be made
Yes, we'll see what the new year will bring!! Definitively, crypto world needs more investors and maybe we even will get over 20k, who knows :-)
Things are good :) I love waking up to profits haha!
the first thing i check when i wake up is coinmarketcap now. lol. But i love to wake up for breakfast and coffee too
thank you for the analysis. I worry that an increase of this speed is not good for us.
last time it happened we had a huge correction do you think it will happen again?
Absolutely. There will be some profit taking by whales which will crash the price but this is a fantastic shift in market sentiment that will propel us even higher first.
i just hope we don't shoot up like last time. i would much rather we have a slow and steady growth. it will last longer IMO
bitcoin is a important part of steemit.but, i have no idea bitcoin matter.i have new joined to steemit some days ago.so,i am really to know alot of thing of bitcoin matter your post.thank u very much for ur good thought. @hotsauceislethal
good Analysis....(
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Haha cute little guy!
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bitcoin is popular for the better technology I mine..
Seems like an interesting new coin! Might have to jump in on this one!
thanks for the best blog
just keep it up