Bitcoin’s price $6081 is nowhere near its bottom, will bounce at $3700

Image source: pixabay - skeeze

The crypto market and news have fallen into a frenzy, citing 4-month low in Bitcoin prices. With technical selling, actual Bitcoin prices are still undervalued. Long term investors have been monitoring the fluctuations for months, waiting for the best opportunity to re-invest in Bitcoin. We could expect this year’s prices to remain undervalued, having potential for more investors to enter the market.

Due to the all-time high in Dec 2017, Bitcoin is currently experiencing a price correction that follows natural recovery over the next 1-2 years. Without sufficient reason to adandon ship, cryptocurrencies are the start of future trades as we move into the digital world. More Government-controlled cryptocurrencies may arise which will gain popularity pretty quickly, however Bitcoin and Ethereum remains as the decentralized coins that would serve a greater purpose for the future.

Frantic sell-offs usually occur when market instability strikes and short-term players who are unable to hold for longer periods exit the market. This group consists of mostly rookie, inexperienced investors, manipulators involved in illegal trades, market speculators, market leaders who are big influencers. Long-term investors, hodlers, markets analysts, investment firms, trade unions who invest in cryptocurrencies are the ones who would gain from benefits associated with longer time frames of investments.

Image source: pixabay - TheDigitalArtist

The recent news to release locked up Bitcoins from the Mt. Gox wallets worth $1billion since its collapse in 2014, could turn the tides... further.

“Enormous assets…will be returned to creditors of Mt. Gox,” Shin Fukuoka, a leading attorney and partner at Japan’s Nishimura & Asahi law firm, who petitioned the Court for civil rehabilitation on behalf of a large creditor, wrote in a statement. “This is the creditors’ victory.”
Source: Forbes - Jec Wieczner

We would expect these Bitcoins which were bought at around $483 to be sold off quickly launching a massive price drop. But finder’s keepers because what is your loss, is my gain. Many bitcoin prediction sites, for example longforecast.com, see Bitcoin reaching $3726 in Jan 2019 before the bounce begins. The next peak might only arrive earliest by Oct 2019 to cross the $10000 mark and Oct 2020 to cross the $20000 mark.

According the the increasing human population and total global wealth, there is a higher chance of individuals becoming millionaires in the next 10 years. This is purely by statistical analysis but it could change your future. Let’s discuss more more but this phenomenon next time.

-tysler

Image source: pixabay - Free_Photos