Bitcoin and Litecoin in 2018- Some Perspecive
We have all heard the short-term and 2018- EOY projections for both BTC and LTC. I am and have been bullish on both coins. The bear market of Q1 2018 was a spectacular time to jump in. But what can we expect for 2018 and 2019 and how can we keep our heads on our shoulders?
Pump pieces like the $64,000 BTC and Walstreet adoption found here:
https://www.cnbc.com/2018/05/10/bitcoin-could-soar-as-high-as-64000-next-year-fundstrat-predicts.html
https://www.ccn.com/wall-street-adopting-bitcoin-will-lead-crypto-market-to-surge-brian-kelly/
And Bitcoin is worthless and dangerous found here:
https://www.cnbc.com/2018/04/05/bitcoin-is-worthless-and-will-perform-worse-than-stocks-analysts.html
http://www.omaha.com/money/buffett/appearing-with-buffet-and-bill-gates-charlie-munger-calls-bitcoin/article_de2e38e3-30d7-5800-8cbb-feb29eec6594.html
Warren Buffett, Bill Gates and Charlie Munger have all called Bitcoin worthless and dangerous to investors, implying the coin is gambling and preying on investors. Bitcoin is not Bitconnect.
What do you think 2018 holds? The chart itself shows we may be headed for a pullback to 9.2K but that we could hit a bullish uptrend to 10.6K easily.
Considering that the total crypto market capitalization virtually doubled in the month of April, it wouldn't alarm me if we see a short-term correction before prices climb again. It seems very possible that Bitcoin could retest prices around $8700, especially since that would represent a .382 retracement of the price movement that began on April 9. In order for this to happen though, BTC will have to break below its current support ~$9000.
What are your thoughts?
True! I was there for the january dump and watched the bottom fall out.
From a technical perspective i see a resistance at around 8.9k and aftet that we will see.
I am holding stable coins and a small bit of litecoin and bitcoin.