Record volumes on Bitcoin Futures, Google Trends spike and AlfaQuot...

Hello my fellow Steemians and Crypto Investors,

Today I want to share with you a few of the tools I usually check to be able to predict, with some historically proven long term accuracy, where the Bitcoin price is headed.

Do keep in mind, this is a very young market and thus its history is still very short. Unforeseen temporary events can happen at any time so you should only use them for long term confirmation, not as short term Technical Analysis indicators. However, these tools have proven very valuable to me. In the long run they strongly correlate with major price moves on the Crypto markets.

In a previous post from 26 days ago I predicted a Bitcoin bottom had been reached. Looking back now I can see there was still some more room for prices to fall but, if you look at the big picture and this bottom is confirmed, as it seems to be the case judging by today’s impressive green candles, predicting a market trend reversal so close to it is very good and I did it mostly by looking at these tools.

CME Bitcoin Futures. Record volumes and a strong green spike up confirm this trend reversal

AlfaQuotes.com. This trusty website calculates Bitcoin's "Fair Price" based on a formula that includes the cost of mining equipment. Do not use it for short term trading! Mining equipment prices do not change as often as Bitcoin's volatile market does. This is a long term tool that has never failed me. Right now it's showing a very strong 87% potential buy signal!

Google Trends is a very good indicator of long term interest in Bitcoin and cryptocurrencies. I always look at it for trend confirmation. Just yesterday we had a spike of interest that I plan to continue monitoring throughout the rest of the week.

Prediction Tracker.png

Mcafee's Prediction Tracker is a very good tool that I also use to predict when Bitcoin is undervalued. It plots John McAfee's $1 million Bitcoin bet by the end of 2020. I'm not so sure we'll reach that goal but, in the meantime, it's a good indicator of how over or undervalued Bitcoin is.

Do you find these tools useful? Have you used them before?

Do you have other tools you want to share with the community of crypto investors?

Do share your thoughts on this post with the Steemit community in the comments below!

What have you been doing this crypto winter?

Accumulating patiently like a professional hodler.
Panic selling like a hopeless noob.

If you answered 1, go ahead and download Crypto Millionaire from the link below. This app will help you diversify in a smart way, especially right now that' it's such a good time to buy the millionth of supply of top coins on the cheap.

If you answered 2, sell everything and become a pimp. It's the only way you will be able to keep selling bottoms, haha!