While Trade Meyer seems to think that Bitcoin will reach around 27,000 in the next few months my opinion on this matter is not nearly as Bullish.
What does Bitcoin really have going for it.
The Brand. People know Bitcoin when they hear it. As opposed to say, Litecoin. Not as well known.
Hash power. Bitcoin has been mined more than any other cryptocurrency. More than likely, it also has the most nodes. Probably 51% attack proof by now. The fact that it's been mined makes the difficulty so high that the possibility of any sort of attack or hack is near impossible.
Adoption. Bitcoin has been more adopted across the world than any other cryptocurrency. This is not to say that other coins cannot achieve what Bitcoin has accomplished. It's just that Bitcoin has been around the longest.
So. This in my opinion is really all Bitcoin has going for it. In comparison to other coins on the market. Bitcoin is definitely not number one. It's just not. I will absolutely elaborate on this.
Bitcoin is not anonymous. Transactions are not anonymous.
Nothing about Bitcoin is anonymous and it's a huge problem. If you send Bitcoin to me, I can put your Bitcoin address in Blockchain.info and see your entire balance.Bitcoin is a giant dinosaur. It was a Dinosaur to begin with. Slow. Big fees. That is to say when transacting with other cryptocurrencies the fees can be so small they are negligible. Case in point, IOTA. Transactions fees with IOTA simply don't exist.
Bitcoin forked, all of it's problems are solved. Very false Bitcoin is more convoluted than it has ever been. Bitcoin essentially split into 3 different versions.. Bitcoin Cash, Bitcoin Legacy, and Bitcoin Segwit... There's also another version looming on the horizon, Bitcoin Segwit 2X. Do you know which version is the safest and most reliable? No? Well, don't be alarmed, no one does.
Fundamentally, Bitcoin is heavily inflated. However, this inflation is just easily dismissed to the average person. The people who hold lots of Bitcoin are to blissful to see it. The people in cryptocurrency that don't realize it probably haven't been paying close enough to Bitcoin's history.
Don't take this as a hate post from a non-Bitcoin investor. Far from true. I too would love to be as Bullish as Trace. Technically, the market can show whatever it wants. I always say the technicals will ultimately follow the fundamentals. And fundamentally right now Bitcoin's diagnosis doesn't look so good. If you did deeper into what Segwit really is. While transactions are faster and less expensive, the cost it's that they are less reliable.
In summary. This is my opinion, take it for what it's worth.