I hate to be the pss in your cereal but there is a possibility that we could follow a similar trend of recovery as Gold. Look at Gold runup and then 5 years of decline and then slowly recovering however mostly just continuing a range trade.Great TA guys, thanks for sharing. Only one question remains now. WHEN MOON? xD
Good point, it could go that way. The only reasons I think we will see a new bull run-up next year and the year after:I hate to be the pss in your cereal but there is a possibility that we could follow a similar trend of recovery as Gold. Look at Gold runup and then 5 years of decline and then slowly recovering however mostly just continuing a range trade.
Since crypto market is much more volatile I dont expect it to take as long as Gold to make any moves up or down but be prepared that we could constantly shift in a $1k range for 2,3,5 or even 10 years. If there is no real adoption into mainstream then I dont see us mooning any time soon.
Anyone buying and holding at this point be prepared to buy and hold for 5-10years if you want to have any chance of beating inflation/traditional interest rates on your investment.
Good point, it could go that way. The only reasons I think we will see a new bull run-up next year and the year after:
1. Institutional money entering the market with Bakkt and a possible ETF. This could still take a while (mid to end of this year - Bakkt maybe from around April/May). This is a new asset class that could be a diversification for funds.
2. Halving - in May 2020, the emission rate of Bitcoin will halve from the current 12.5 BTC emission per block. This is like halving the mining output of the world's gold mines, if you want to think of it like that. The months after each halving has been the months that the bull run starts accelerating - looking historically. Will history repeat itself? Can't say for sure, but the decreased emission rate reduces the supply. If the demand stays the same or increases, the price will follow.
3. Lightning - BTC could become a real "digital money" that is quick and extremely cheap to pay for goods and services. Once it is easy and idiot-proof for people to use it as a payment system, why would stores still want to pay expensive Credit card fees? This could drive Mass Adoption.
4. (longer time frame 10+ years IMHO) The USA dept scenario and the house of cards that is the fiat money-system could collapse. What can take it's place... Crypto
5. Real world solutions built on blockchain. Gaming - Xaya.io. Freelancing - Stipend. Smart contracts - Ethereum. 100% private transactions - Beam and Grin. Online provably fair gambling (not legal in RSA though, if I understand correctly)- FunFair (but legal casino's can use the FF system as a back-end for their casinos - physical or online). All projects that have not matured yet, but their day is coming closer. If projects like these can make it and prove the real-world solutions offered by blockchain, I see this accelerating other and new projects.
Those are my long term reasons for remaining a crypto Bull. I see a bright future for crypto once we have weathered this chilly winter.... Just hold onto your hats, people
What's a bright future though? A bright future would be just surviving and being used. The main problem in crypto is the greed. Everyone thinks they can be in for a 2,000,000 % profit but that's neither realistic nor sustainable. At some point it has to settle on a value and then perhaps just become a commodity gradually increasing in value.Those are my long term reasons for remaining a crypto Bull. I see a bright future for crypto once we have weathered this chilly winter.... Just hold onto your hats, people
Still bigger volume than we've had for 6 weeks. I think it will fall though maybe after a spike to $3800. I'm playing both sides here, holding a short open on one account whilst scalping with longs on the other.