BitCoin Price Action Prediction

Hi all,

Here's my views of what will happen to bitcoin after the halving event.

Bitcoin will test the 9k - 9.5k mark leading on to the event, but a correction will happen few weeks after the event and then it rally up passing though through the line of resistance.

If you look at the old historical halving events, the last 2 halving events in particular, the price action is bullish of bitcoin leading up to the event, continues to rally up further then it corrects then rally's up again... That's what I am hoping for in this halfing event (I could be so so wrong)

The old saying of 'supply and demand', the supply of bit coin will go down and the demand will force the price to go up.

I am bullish of Bitcoin in the long term and what makes my case even stronger is that the whole world is going through a pandemic. Countries are willy nilly printing cash out trying to simulate the economy which devalues the value of the currency.

And also to add to this crises major reserves back around the world are introducing negative interest rates (you owe the bank money to leave your money there).

Japan: -0.10%
Sweden: -0.30%
European Central Bank: -0.40%
Denmark: -0.70%
Switzerland: -0.80%

Our future is scary with traditional markets but cryptocurrency can be our way out

That's my take on the future of bitcoin (not financial advice).

Please leave me a comment if you guys agree or disagree with my views. Love to hear it.

Thank you.

#cryptocurrency #bitcoin #priceaction #investing #trading #steemit #pandemic