Bitcoins profitability trend
Hi!!! When the support line Become a key resistance.
By the third quarter of 2018, the situation of bitcoin is not good. Bear market risk, do not understand. And the legal uncertainty of the countries. As a result, the money to push the index. Lost from the huge market. Although there is good news. Come out for a while.
However, we can see that. It's still light at the end of the tunnel. When there are some fund companies trying to push. The ETF was set to bring the index down to a low of 5774.72 as of June 31, rebounding to a high of 8496.96.
This time we look at the graph. We can see that last year in the bull market, the short-term BTC will have a significant trendline (the Point line) for key indices until early 2018. I can not stand this. Support (Many people see that it's over. This is a bubbly bubble.)
From the main support and strong. It became a resistance. Investors have to wait harder, according to the technique, we are testing the resistance first and if the price of BTC can stand above 8500/9100, the bull can return to full. Good news. In speculation
Private view The market is still in the form of side-by-side with the key resistance at 8500/9100.
And interesting is the 7200 to stoploss or overhang hands to see the market. If it is still in the downward trend.
Investing is risky. Please study first. Take your money to risk. Do not get into this market.
Hedge Fund Manager Sets $500,000 Six-Year Price Target for Bitcoin
Mark Yusko of Morgan Creek Capital sees network effects driving the price of Bitcoin much higher.
Other notable investors and industry CEOs have made remarks on the outlook of the highly volatile markets.
Mark Yusko, the founder of North Carolina-based Morgan Creek Capital Management, recently set a massively bullish price target of $500,000 for Bitcoin (BTC) by the end of 2024.
Earlier this month, Billionaire hedge fund manager Marc Lasry stated will make five to 10 times their money in three to five years during an interview on CNBC’s Squawk Box. Lasry shared that his current price target for the Bitcoin is $40,000, noting that he has invested 1% of his net worth in the digital asset.
Pantera Capital, an investment firm focused exclusively on blockchain tech & digital currency, has set a price target of $21,000 by the end of 2018, and $67,500 at the end of 2019. The firm is currently using the historical trend line of the logarithmic chart for bitcoin to set its price targets.
Bill Barhydt, the CEO of Abra, an all-in-one cryptocurrency wallet and trading platform, believes we will see Bitcoin at over $50,000 in the long term, especially once more institutional investors start investing in cryptocurrencies. Jeremy Allaire, the CEO of Circle, a Boston-based fintech and investing company, also recently shared his belief that Ethereum was the driving factor behind 2017’s massive cryptocurrency bull run and will be moving forward.
Yusko co-founded Morgan Creek with the crypto influencer and security token advocate, Anthony Pompliano. The firm recently revealed that it has led a seed round investment in CityBlock Capital, a new venture capital firm that works to raise and tokenize funds on a city-by-city basis.
Bitcoin currently makes up 51.3% of the AltDex 100 Index (ALT100), a benchmark index for the industry’s 100 leading cryptocurrencies.
Related: Abra CEO Sets $50,000 Price Target for Bitcoin
Similar: Fund Manager Bill Miller Is Bullish on Bitcoin, Thinks Most Altcoins Are ‘Worthless’