Bitcoin Continues! Will it last?
Bitcoin Continues! Will it last?
I wrote an article last month in regards to Bitcoin as it was breaking into the 8,000.00 usd mark.
Here we are in February of 2020 and Bitcoin is just above 9,100.00 usd mark. We are currently about 5 months give or take away from the Bitcoin Halving mark. What will we see? Will prices sky rocket all the way to the moon? Will we see another great spike like in 2019?
The answers to these questions would make a lot of us very happy. I doubt we will see prices to the moon and higher. I do however believe that we will see a great spike around mid summer with prices going above what we saw back in 2019. I don’t look for the price to hold very long, it will level out and hit a plateau.
I believe there will be a lot of hype going into the halving mark which could potentially raise prices high with a lot of speculation from random sources. Once the hype dies down we will see prices start to head back towards the normal range. Once the prices have leveled out we will start to see a slow to moderate increase in prices.
I have to say that with the current USA Economy and the turmoil with President Trump and issues heating up overseas, the China trade war coming to a end we will start to see these issues impact Bitcoin further. In some ways these issues will actually grow Bitcoin further. However as the USA stock market builds up at the end of the trade war we will notice some slight losses with bitcoin.
I do believe we are on the verge of adding some very large investors into the bitcoin community which in turn will also be a good thing for prices. We have to deal with all kinds of speculation around Bitcoin. Like for instance the USMC selling off 4,000 Bitcoin in an auction could impact the price of Bitcoin.
I like to think that Bitcoin is strong enough to withstand the selling off of 36 to 40 million usd worth of bitcoin without it destroying the price of bitcoin. Furthermore I do believe that the S2F chart in which indicated that the prices of Bitcoin could reach 100,000.00 usd within the next two years. In all actuality we are more so looking at around 50,000.00 usd however either way a major change is in store.
Bitcoin has appeared to be on the same track every since Bitcoin was born. You will hear a lot of people claim that Bitcoin has no future. Bitcoin has no purpose. The Stock 2 Flow chart can’t not accurately predict the upcoming price of Bitcoin. However the current S2F chart has been rather eerily accurate when it comes to Bitcoin.
I only sway away from the 100,000 prediction. It is not that I don’t see the price of Bitcoin being within that ballpark eventually. I do see Bitcoin headed to 100,000.00 usd and higher. However that will begin close to 2024 when the next halving takes place which will raise the S2F Value even higher than this year’s halving which is yet to come.
I find it best to keep in mind that every time Bitcoin spikes you see a quick drop shortly after. Following that period of time in which Bitcoin acts like elastic and rebounds. I look to see a major spike following the halving and leading upto the halving. After the halving we will see some self correction and in that time frame Bitcoin will continue to see notable gains.
I want all you who read this post to keep in mind that I am not certified to give investment advice nor would I want you to follow my predictions and gamble money on my predictions. I solely write these articles to spark others to do research and share the opinions that they formulate from doing research.
I think now more than ever is a prime time to get into Bitcoin or to get further into Bitcoin. Bitcoin has continued to show steady growth and despite others whom believe Bitcoin doesn’t act like regular currency? We still spend Bitcoin daily on every item that you could imagine. For example, I just used Bitcoin to order Domino’s Pizza Saturday night for my family.
We have plenty of people throughout the world that use Bitcoin daily for personal and business transactions alike. Bitcoin is a strong, fast and reliable currency if you are okay with some short term to long term risk. However the longer you hold Bitcoin the higher the value you will have in the future.
Please feel free to share your thoughts and opinions on the matter. Where do you see Bitcoin in the next 5 years? How long have you been investing? What is your favorite CryptoCurrency? What Crypto got you involved?
As always, I would like to thank you for reading and a friendly reminder to follow along so you can stay up to date with the Crypto World!