Is Bitcoin Dead?

Discussion in 'The Cocktail Lounge' started by GersonH, Sep 12, 2018.

  1. GersonH

    GersonH Member

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    In this special episode (just like we did with Ethereum the other day) we look at where Bitcoin is now in the big picture.

    Therefore we take our Fibo-tools, and we measure the move up from 160 & 1.000 dollars respectively, up to 20.000 dollars, and determine: are we still in a core-bullish trend, with a bearish side trend, or is this already a core bearish trend?

    Here we can take a few notes: Bitcoin has made an almost 20x move in just under a year, and following this exponential move, we got a non-linear correction, which is right now building a descending pattern, of which we will definitely see a break coming.

    If this breaks comes to the downside, 5.000 or even 3.000 dollars are possible; but as you can see, even in that worst-case, the picture doesn't look that grim like some analysts are painting it on the wall.

    To the upside we have the 7.400 as the lower highs in the weekly, of which the break could signal the next phase for Bitcoin.
    Source: https://alpari.com/en/markets/crypto/bitcoin/
     
  2. gowiththeflow

    gowiththeflow Senior Investor

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    Bitcoin will come again, of that I am fairly certain. If anything, a lot of the froth of recent times have been blown off the exchange rate and now may be the time to quietly start accumulating Bitcoins for the future. We have seen many crypto currencies come and go of late but Bitcoin is always the first one mentioned.
     
  3. longtermbull

    longtermbull Administrator Staff Member

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    Now is the time to start slowly picking up Bitcoins in my view:

    https://www.coindesk.com/price/

    As much as governments around the world would love to stamp them out this is not going to happen. They will also be near impossible to regulate to the same degree as traditional currencies.
     

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