Heyyy folks
Good Day , Hope you all are doing well
The topic which iam gonna discuss today will really make u feel shocking ..because iam discussing it at the
Moment when bitcoin is breaking all the supports and running towards down trend
BUt ?????? Mark my words when it comes to Analyse bitcoin (THE KING) Even some times most T.a And F.A fails
As u guys have too expierienced if you are involved in bitcoin trading seriously
So lets Come to the point why i am saying that 2018 can be unexpected year for growth of bitcoin
If you will go to flash back remember that there was one guy
Kay Van-Petersen, an analyst at Saxo Bank, Who Predicted in
December 2016 that bitcoin would reach $2,000 in 2017, and at that time btc was trading at $900 ..................
and in 2017 ($2000) feat achieved in May
not only baseless prediction without any logic but with a solid logic which really happened
and the logic was that
bitcoin will be driven by a larger uptake of institutional investors and futures contracts
and that really happened bitcoin got massive adoption globally in year 2017 which lead the skyrocketing price
So if we see from technical analysis and market cycle bitcoin
we have had a proper correction in bitcoin, it has had a 50 percent pull back at one point, which is healthy.
So the same guy had predicted with CNBC that bitcoin may Reach $100,000 in 2018,
Lets have a look what he had to say properly
Van-Petersen said Tuesday that bitcoin could hit between $50,000 and $100,000 in 2018.
"First off, you could argue we have had a proper correction in bitcoin, it has had a 50 percent pull back at one point, which is healthy. But we have still not seen the full effect of the futures contracts," Van-Petersen said.
The CME and Cboe both launched bitcoin futures trading contracts last year. The move was seen as a way to get more institutional investors involved in the cryptocurrency market and legitimize it. But trading got off to a light start. Van-Petersen said that more institutions will get on board over time, but it won't happen quickly.
To reach $100,000, bitcoin would need to rally over 635 percent from Tuesday's highest price of $13,601.43, according to CoinDesk. Previously, Van-Petersen said that $100,000 could take ten years to hit.
Also, bitcoin has been trading sideways since the start of the year. But the Saxo Bank analyst said that bitcoin tends to trade around a certain level then "re-rates".
"I wouldn't be surprised if it's something we are seeing. It's kind of building a foundation, then will re-rate a bit higher."
BUT We had one good news Also shared by this gentleman and thats is
Not only Bitcoin But other COins Will Also see a maasive growth and adoption in coming months
Lets hope That his prediction comes true and we all will be blessed by a massive profit
But At one end this guy is having postive mind set about Bitcoin
and other hand there are some so called Legends whose ideas are just opposite and they already effected the btc in negative way
Lets have a look
Legendary investor Warren Buffett told CNBC that cryptocurrencies will come to a "bad ending." And Jamie Dimon, CEO of J.P. Morgan, famously called bitcoin a "fraud".
Meanwhile, regulators in some major cryptocurrency markets are looking to clamp down on trading. China's central bank issued a memo suggesting that authorities bank centralized trading of virtual currencies. And South Korean authorities are also discussing the possibility of banning some exchanges.
So that was all about bitcoin today from my sid
i tried to explain both bullish and bearish aspects to you
so its up to us now how we manage our risk and be in market
As usual i can just say Do your own DYOR before accepting any news or predictions
Thanks Alot for your support and love
Hope you would have enjoyed my Article
need your support and love to keep you guys updated
Your Complaints and suggestions are always Most welcome
Again Thanks A Lot ..Stay safe Stay blessed
