Bitcoin 3K?? ... The Undersiege, ME crisis, ETF, miners, oil connections Syria, Russia, Iran, Turkey

in bitcoin •  2 months ago

I strongly believe that bitcoin must and will test the 3K ranges again and that is because of the average 90% retracing from the All Time Heights that virtually all coins experience ...

I mean we still didn't test the 4K, 3K and even the 2k in fact....

...the 90% of bitcoin ATH of 20K is 2K but to be conservative I would say that at least we should test the 3K and this is just considering a general historical assumption without taking in consideration politics and the world economy as a whole...

Let's examine the different scenarios of a 3K bitcoin

First of all, nobody is placing orders to sell at 3K or even 4K for that matter either that or nobody is buying at those prices so in order to bring bitcoin down we need to see
miners shutting off their machines and in order for that to happen

  • the price of OIL must go up thus increasing dramatically the price of electricity knocking out of work the miners with small budgets and leaving the site for the big boys which can then easily fall prey to the GOV which can by then issue an ETF and set the rules of the game...



At this point the GOV will have the control of the "MACHINES" and can print more dollars to run "IT" returning back to his primary job which is manipulating the markets...


Geopolitically...
According to the news around IRAN, SYRIA, RUSSIA and TURKEY the likelihood of another ME crisis is at the door and it is only a matter of time before we see it


This will mean high oil prices no matter which side you are backing and following is a bitcoin market crisis...


This is happening and that is how bitcoin could be under sieged

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These are elegant and slick, friend.

Will this price drop happen before your 7k forecast?

·

I believe it will happen after the approval of an ETF where we will see a peak in bitcoin touching the 10K -12K which will be around the beginning of 2019...
I am selling at the approval of an ETF because that means bitcoin can drop dramatically
An ETN for the US dollar is been approved I believe it is called Gemini ETN or Exchange Trust Note so now the next step is ETF and then the ball I mean the bitcoin is in their camp...
Hope I was clear enough! peace and be balanced in your decision, always!!