Bitcoin Price Forecast 9/24/2017

Cryptogame lookin' hella dirty but we're cleanin' it up! Current MC: $129B (+$4.4B) Bitcoin Dominance 47.4%

Source Lil Windex - Cleanin Up (Official Video) (Youtube.com)

The crypto world has been causing quite a headache for government regulators. China is still winding down it's ban on exchanges and it is going to be a slow and painful process. The end of this month will mark the closure of several more exchanges. Japan is opening new exchanges and picking up much of that slack in the meantime.

The ICO madness had to come to an end at some point and the government was bound to step in. We are lucky that the SEC hasn't come out with a ruling on ICO token distribution yet. As we stand now there is a lot of gray area and many people are slinking into the illegal zone without realizing it. This is the direct result of the lack of regulations and policies as well as complete ignorance by the community. The problem is that ignorance of the law is not a defense.

Many companies that are conducting ICO fundraising are doing so in this legal gray area on the internet. In the United States such sales could be considered illegal by the SEC since they have not registered or paid the fees for conducting the sale of such securities. The Supreme Court already has a concise definition of what a "security" is and they created the Howey Test to determine if an investment or product is in fact a security or not.

Since cryptocurrencies exist purely on the internet and are decentralized (for the most part) they are inherently harder to track and regulate. Token sales are completely legal in many countries as regulations simply have not been put into place...yet. The next few months are going to be very important for the future of cryptocurrencies and tokens as the market is forced to evolve.

In today's chart you'll see that Lil Windex has made an appearance :-D The cryptogame needs to clean up its act if they ever want to achieve mass adoption. We are holding up nicely in the mid $3000 range and resistance is set up around $3760-3800 in the short term. Until the end of the month we might see sluggish growth as we have lost one of the major players in the crypto markets.

Likely Scenarios:

• Lil Windex is "Cleanin' it up!"
• BTC holds between $3550 and $3850 until we get more developments
• BTC jumps above the $3750 support level and below the $4100 zone

TLDR Version:
The cryptogame lookin' hella dirty but Lil Windex is helping to clean it up! The ICO madness has come to a close and markets are slowly deflating. Expect Bitcoin to hold in the mid $3000 zone until the sluggish growth subsides.

Price Target:
$3850

*Never invest more than you are willing to lose and always do your own research before making any investment decisions.
(All pictures created using PhotoScape and Lil Windex.)