Bitcoin’s Next Move: Elliott Wave Theory
With many still unsure whether bitcoin will boom or bust, I analyzed the market from a different perspective. My findings may surprise you.
In all my conversations about cryptocurrency, few people ask me about the social, political, and economic impact of cryptographically-secure, time-stamped distributed ledgers.
(Which stinks, because I wrote a book, Consensusland, to explore that very topic.)
No, most people ask “should I buy bitcoin?” or “what altcoin will give me the best shot at making 100x profits?”
Those are easy questions to answer — “yes” and “nobody knows,” respectively.
A harder question to answer is “how long will this bull market last?”
As we all know, if you miss the peak, bitcoin’s price goes downhill a lot, pretty quickly. Do we top out at $20,000? Can we get to $100,000? What about $500,000 or $1 million?
Do we reach our peak at the end of 2021? Sooner? Later?
The non-trader’s theory
I don’t trade, but I understand market cycles and data science models. As an investor, it’s pretty important to have a clear view of the market and facts to back up…
