Where Will Bitcoin Bottom Out?

in cryptocurrency •  7 years ago 

Two-bit-Is-bitcoin-on-the-way-out-935571.jpg

The price of bitcoin is now at $ 5,000. Condolences if you bought for $ 20,000. The question now is how far will it fall and how to buy the fund?
This is where we are as I write:
I believe you should always look for and by the obvious in any graphic. So this is the trend:

https_%2F%2Fblogs-images.forbes.com%2Finvestor%2Ffiles%2F2018%2F06%2Fbtcusd8.jpg

That does not mean it's going to be zero, just that this is the road on which the price of bitcoin is. Until you leave this trail materially, it is falling.
The next question you need to answer: does bitcoin have a future? Some say no, but I think so and I think so too. So all we have to do is find the fund and buy it.
Let's put some suggestions:
https_%2F%2Fblogs-images.forbes.com%2Finvestor%2Ffiles%2F2018%2F06%2Fbtcusd9.jpg

Again, none of these levels is fate, they are just areas where the market has felt in balance in the past. As such, you would expect these levels to function as at least potential resting points or the bottom in a fall.
Bottoms are very rarely V-shaped; they tend to be W-shaped, so what we're looking for is this:
https_%2F%2Fblogs-images.forbes.com%2Finvestor%2Ffiles%2F2018%2F06%2Fbtcusd10.jpg

Where I put this W is just an example, a kind of better guess, but it's to show how the bottom will probably be.
You can play in the background in many ways. I can buy a piece on all levels, or try to buy the last leg of W.
Buying the last step is much safer, but requires much more self-control. The bottom will not happen overnight, because the W will have to graduate. This can help an entry if you just want to buy a bit of bitcoin at a time. I'll probably do this by averaging on.

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Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:
https://www.forbes.com/sites/investor/2018/06/25/where-will-bitcoin-bottom-out/

I think the second graph is a bit misleading to anyone skimming the article, but I agree with you about the future of bitcoin as a technology. Recent momentum hasn't been good but we're still above the 52 week low. The big test will be Q3/Q4 performance when annual hype typically takes over.

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