Rejoice, people of the crypto world. Bitcoin has pushed it's way up once again to hit another peak at almost $9,500. Five-figure Bitcoin is now within touching distance. And just that fact alone could be enough to create another untimely rush of FOMO as big investors want a piece of the action too. What an epic year this is turning out to be so far...
The chart I put up is pretty basic. But sometimes the simplest way of seeing things lead to the most logical outcomes. No complicated patterns or structures to look out for. Just that sweet moving average. Check the blue line. Hit support beautifully and bounced off of it. In addition, the gap between that yellow line below is enormous. I'm almost 100% sure price will never ever see $3,000 again. Sorry peepz, but if you wanted to accumulate more at the best possible level, that would have been it.
Now it's just a question of how high can it go. Do keep in mind that we have some huge crypto-related events on the horizon. Perhaps most significantly, the "halvening" mid next year. With only six and a quarter new coins produced every ten minutes, scarcity of BTC will become even more real. Trust me when I say that we are fast approaching a time when even purchasing an actual Bitcoin token will be extremely difficult indeed. Not because of the price but simply because supply is running out. Take into consideration all those lost coins floating out there too. And if demands continues to increase as it should do, well, it's not hard to see how this scene will play out.
We are also hearing more about Globalcoin, Facebook's new venture into the world of crypto. I'm already reading reports of it being more "centralized" in nature than it's direct counterparts, but that should come as no surprise at all. This is an independent profit-based social behemoth behind the inception of Globalcoin. But hey, that's fine. Let them do what they gotta do. We're just looking for extra eyes on the space, which it's launch should inevitably bring in. Look out for it in early 2020.
There is a hell of a lot to get excited for at the moment. This next crypto pump seems to be driven more by positive fundamental news than anything else. Sure, there will always be some form of speculation thrown into the mix too, but all in all, I'm seeing a real transformation taking shape. Whereby a situation in which use-case and public adoption pushes price upwards. Wouldn't that be something? Between now and 2020, you'll wanna be nicely cushioned in the crypto markets. I can't wait to see where we go next. Breaking the all-time highs for BTC in 2019? Not nearly as far fetched as it once sounded...
