My Current Views On The Bitcoin Market 07/03/2017. South Korea Planning On Legalizing Bitcoin!steemCreated with Sketch.

in #bitcoin3 years ago (edited)

July 3 2017 Bitcoin Crossroads.png

Here are my current views and predictions of the Bitcoin market. Please don't take this as an investment advice, as these are just mere predictions and anything can happen.

*So today, we broke out of the ascending triangle meaning we are still in the bull run! Could be the news of South Korea legalizing Bitcoin, that means more new money (investors) and more pumping.

*Now, if we break the green line at $2750, then we might see another all-time high around $4000.

The Other Direction.

*The orange line is my support for the bull run, if it breaks below the line, then it will be an indication of heading towards the bears.

*Breaking the red line would be my confirmation of starting of the bear trend.

Crossroads around August 1.

When I was new to this cryptocurrency world, I didn't know about all the drama around Bitcoin, nor I cared. But it's important to know about all this if you are in the market to trade or invest.
For your information, Bitcoin can actually split into TWO coins around August 1. due to different opinions between core developers and the Bitcoin miners specifically in China.

Now, talking about the issue in detail is out of the scope of this post and I will eventually talk about it in one of my future posts. But if you would like to look into it, then you can Google keywords like Segwit 2x, Bitcoin hard fork.

Let's see what happens!


ps- My views are only my views. Not an investment advice.

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Great write up again!

It's all a debate what is going to be near August. In adittion, some increase in the hash rate helped the price pump up a little bit. Good info! Keep it up

Yeah, let's see what happens! We might even see a big dump following the hard fork.

awesome!! thanks so much for the post. always fascinated to read more and more on peoples opinions and learn different things about the coins :)

Bhai ka jawab Nhi .....:) Great post :)

Haha thanks bro!

I don't like the idea of Bitcoin splitting into two. This means it could be split into 3, 4, 5 or even 100. I don't think Satoshi Nakamoto envisioned or wanted 2 different versions of Bitcoin.

Hopefully not! Can't imagine that

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*bull penant, not ascending triangle :)