Skyflowers.co [0043] - Bitcoin Rises to "New High of Normalcy"

Since the hard fork of Bitcoin and birth of Bitcoin Cash on August 1st, Bitcoin 'classic' has maintained a somewhat steady rise. While many speculators are nervous and "dumping Bitcoin just in case it drops", it pays not to be a fraidy cat. Especially when you're in the game of high risk speculation.

I think what may be happening is Bitcoin is "floating" to a new high. A new normal. It's being "drawn upward" because it is worth a higher value now. It's moving to a new, natural level and not 'rising' so much as this suggests it could dip. Which I don't think will happen.

Bitcoin may be done with the old price and is just moving to the next price bracket. Where it will stay until another market change suggests an even higher price. Like a war with North Korea, for example.

I think what we are seeing is a Bitcoin that will rise to around $7,000 - $7,500 US and when it dips, it will only "crash" to as far as $4,000 before it rallies again.

As Bitcoin is now the father of a whole new currency and not merely an inspirer of them, I think this is part of the reason for the new price bracket that may be emerging. However, there will obviously be other market forces at play but I think this may be one of them.

As always, time will tell. But my theory isn't that far fetched as many analysts predict a Bitcoin of 500K - 1M. So, at some stage you will see bracket increases. 4 to 7.5K will move to 7.5 to 12K.... which will move to 12K - 19K... and so on in larger chunk increases.

I think this is the first in a series of growth spurts, stablizations for 6 months and then rapid increases. The point is, Bitcoins old high is now the new low.

Thanks for watching,

Brendan Rohan - Melbourne, Australia

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