Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: zorchy on October 08, 2018, 01:34:57 AM
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The Bitcoin phenomenon, which has recently become a topic of discussion in the field of investment, has attracted considerable attention. The price of Bitcoin which had soared so high in early 2018 has produced a lot of sudden millionaires as a result of investments with multiple profits.
However, at the end of 2017 there was a market crash which caused bitcoin to drop dramatically. Recovery that occurred in the period of December 2017 - January 2018 is not enough to maintain the bullish sentiment of bitcoin itself. Of course, bitcoin owners who are already buying when the price is high experience a very large loss, not even a few who experience the Margin Call or the money that has been invested in the bitcoin trading account.
Of course this is a pretty scary experience for traders or bitcoin investors. Especially considering recently there were also issues where several payment companies and leading online stores expressed their refusal to use bitcoin as a payment instrument (Paypal, Amazon and Alibaba).
Even so, the movements that occur in the bitcoin market actually show very different things. The issue that came out on June 27, 2018 did not have a significant impact on the price movement of bitcoin where the issue actually raises a signal that there is a possibility that the price of bitcoin will re-strengthen.
Technical analysis of bitcoin price movements indicates the possibility of forming a Head & Shoulder inversion motif where this motive is a strong feature of a reversal of the price. This motive usually arises when the price moves in the peak area or base where there are buyers who are ready to buy at an area of 5000-6000.
For those who are already familiar with trading, of course, know the quote from a well-known investor, Baron Rothschid, who said "Buy when there's blood on the street" which, if we compare it to what happened to bitcoin, of course the market crash has swallowed so many good victims from retail investors and traders where at the moment this is actually the right time for those who want to speculate on bitcoin because the 5000 price limit is a Fair Value limitation if we previously made an average of price movements that have occurred in 2016-2017 ago.
Therefore it is not surprising that if the price is not able to penetrate more than 5000 then the price will move up again to try to catch up to its previous glory. Along with the development of the digital era, it is certainly not surprising that in the future there will be a paradigm shift in the payment method whereby bitcoin is again seen as a digital exchange tool that has prospects and can facilitate various payments much more easily.
Finally, although there is a possibility that bitcoin can regain its value that has been lost, it is only an analysis and is still a probability. Therefore, remain wise in investing. Greetings of success for all of you ;)