Bitcoin Price Prediction
Hi Followers, hopefully you all will be right. As I wrote in my 5 September post about Bitcoin price. On 5 September price was moving upward and everyone was happy that bull run is starting. But I wrote that it is the peak and from now Price could return. So same thing happened. You can check my analysis by checking following link.
So what is current situation. Currently as I am writing this analysis, there is no bull run in the Bitcoin price chart. But I am looking bull run in the near future.
Look at the picture below.
As on 12 November 2017 price started moving upwards from about $6000. After making high above $19000, price came back to near $6000 again on 6 Feburary 2018 and on 14 August. Then making another high and price came back to $6000 again. Now ranging from $6000 to $7000.
So when this kind of pattern occurs. It is called falling wedge. So more than 90 percent chances that price will break towards up. Price will break the trendline and will start moving up in near future.
So what should be done right now. I really suggest to my all followers. If they already bought Bitcoin at high price then they should buy Bitcoin at current price so that they can minimize their loss and get maximum benefit.
But all those my followers who do not have Bitcoin, they should invest in Bitcoin right now.
My prediction is first Bitcoin will reach at least $24000 in 2018. So you should sale 50 percent your holding at $15000 and remaining at near $24000.
Follow me @cryptoexpert79 for more technical analysis of cryptocurrencies and much more.
For any queries you can ask me through comments. If you have your own prediction about Bitcoin price, you can share with our community.
When price of Bitcoin will reach at $24000 then it does not mean that it will return 100 percent. It can move towards up more. But we should take the profit at this price and then we should stay away so that we can enjoy the profit. Hope for your all success.