Firstly, I will like to congratulate all of us that started last year and today according to my country calendar we are in new year in health and prosperity. I wish all of us traders well.
From all indications the cryptocurrencies market and bitcoin in particular has not seen to be in the bottom yet and the bears are more ready to pull down the price further. We don't even know accurately were the bottom is and according to some speculators bitcoin might go below $3000 before we can see good recovery.
My question is this: were did you think Bitcoin's price will be at this time next year and What are your thoughts and technical reasons why bitcoin will not go beyond $3000? Your views will be appreciated. Thank.
Hi. Depends how you trade. According to your post, I assume you trade in the middle term and not so much in the short term.
I posted a chart yesterday, this is a chart I saw lately and by no means I believe it is realistic, but perhaps you would like to have a look:
So from this picture, 2019 looks not too good. However, second half of 2020 looks fantastic. I personally would look at this with a grain of salt, but perhaps it can be convincing for others.
As far as I am concerned, I like trading in the short term, mostly using the same old adage, buy fear and sell greed + TA but it does not always work.
Good news is I am sure we will see plenty of big fluctuations again this year. So again a lots of up and down which is great news for short term traders.