Source: https://www.ccn.com/bitcoins-impending-halving-could-spark-meteoric-price-boom
In any market there are “bull camps and bear camps”. This is what makes a market.
Even though there are dirty games played to rig the markets and media plays it’role, we seem to be at a ‘crossroads”.
There has been this non-stop mantra that Bitcoin is “not done going down” and it really should go down to $1,800. This would make many people happy...supposedly.
The BTC dip has seen a gradual rally to $4k ...and now we are stuck.
But what is coming in a mere 15 months??? Bitcoin halving. May of 2020 is on people’s minds because the “slow increase in price” when there is a “halving” usually starts at least 12 months BEFORE the having— which would mean a mere 10 weeks before the slow assent of BTC based on halving.
To make things even more interesting, Litecoin halving is Aug 7 2019 — @ 150 days from now. Do you see what has been happening to Litecoin this month? Is there a correlation? It would certainly be a plausible reason for such strength in Litecoin. Source: https://www.litecoinblockhalf.com/
So let’s go back to the Bitcoin “bear camp or $1,800 price mantra”. Is there a reason for BTC to dump 50% over the next 10 weeks before it’s ascent to May 2020? I personally cannot see any bad news as to why this would happen? If anything the news seems to be extremely bullish when you look at country adoption news and or near term institutional news like Fidelity of regualtion changes for ETF approval in the near future (I don’t know exactly when — but you now have BTC ETF’s being carried on exchanges outside the US) You also see Fidelity now has it’s BTC custodian service “live” for let customers (last week announced).
So tell me again why would BTC from over the next 10 weeks?
Could it ??? Of course it could? But this would only be done by pure market manipulation riggers who have amassed BTC for this final purge. Do they want “one more purge attempt” at shaking weak hands? Of course they would want this....and then ride the BTC “halving train” to May 2020.
But you have the LTC “having train” that has already left the station — so LTC to would for no reason go south? It would ODD x 1,000 and may raise serious allegations of market shannigans.
But this is cryptos, it’s the “Wild West”. It’s not rationale. It’s not like clockwork. We are talking about changes that affect powers and institutions beyond are comprehension. So I must close by saying anything is possible.
Will LTC halving (very close) and institutional announcements mean that the bottom is in?
Only time will tell. The next 10 weeks will tell us a great deal about the rest of 2019 and 2020.