Here in the middle of 2019, there is still a lot of skepticism about bitcoin and cryptocurrencies. When we go and look back at the data we can see the reason why?
Here is a chart of BITCOIN going back to the end of 2017. When you go back and look at the BITCOIN chart things get interesting.
When we look at this chart it looks horrific! There is a psychicologal part of the human brain that when you see investment charts like this you warn yourself to stay away, because lets face it, everyone is scared of losing their hard earned money right!?
A lot of people who piled into BITCOIN at the end of 2017 got ruined by the FOMO at the end of 2017 and are still tainted. I have heard all the stories. These days I am more of a HODL’er however people have seen this chart and heard all the horror stories and have decided to stay away. Even though prices are starting to recover, I still see many people feel the effects of the 2018 crypto crash hangover.
What is your price prediction for Bitcoin in four years (2023)?
No one can actually know the answer to this! However now you know why I went back and looked at the past, as we already have that historical data recorded, and can use it to our benefit. Its a very astute way to work out what could be coming down the track. Basically that means we can get a little looking glass as to what could be coming in the future. As you know nothing goes up in a straight line. There was a parabolic rise at the end of 2017 and what goes up, must come back down.
Normally periods of horrific selling off, is when value investors come in and buy up bitcoin back on the cheap. In no way am I saying this has happened, but sometimes we can use past data to form future trends. It has worked in the past. And so far bitcoin has recovered since January 2019. Today bitcoin is trading at — $10155
Bitcoin is still in its infancy, I can assure you of that but when BAKKT goes online later in the year, many institutes will start talking, and I feel in the future bitcoin could be a part of every institutional investors’ portfolio. Could you imagine that? Its Just a matter of time.
Right now Bitcoin Price Stays Above $10,000 as Overall Crypto Market Sees Green
REMEMBER : Bitcoin is the largest market cap cryptocurrency today. It is unlikely that will change any time soon. The network effects are too strong. The brand awareness is too strong. And since money is a belief system, there are many people who think its a matter of time before more people get on board. Time will tell.
Instead of listen to hype you can read some solid crypto news and research analysis here. But in the end, do your own research and happy investing.
Hope this helps. Just my two cents.
Please UPVOTE THIS & SHARE With Your Friends..
Hope this helps. :-)