Is bitcoin bull run has started? friends i am very happy if bitcoin bull run is started but the thing is that bitcoin bull run is started yet for the same i will explain you below. As we see that in past bitcoin has rise because Blackrock planing to invest in crypto currency but it is not sure whether they invest or not, they just reviewing it now. The second news is that ETF planning to launch after approval from SEC on 10th Aug, but they can extend the date of approval till September or they postpone it. We will have to see it.
I think there is rise in Bitcoin prices because of Future contracts of CBOE and CME groups that go for long in it now.still there is correction pending in it, i will explain you through below chart. However there is chances that it is the bull run but it is only 10% chance of it.
Earlier Jan we fall to 10k Then we go to 17k, then again we fall to 8k by the end of janurary and then we go to 13k.
3rd time in feb. we correct to 6k USD then we go to around 12k and then 4th time again we fall to 6.5 K USD then we reach 10 K. 5th time we fall to 5.7k then this time we reach maximum to 8.5k or 9k. Then 6th time we again correct to 5.5k or 5k then we start bull run from here this will happen in end of august or beginning of September.
Every time we making higher low when bitcoin go up so it is a bull trap. It is following BTC chart of 2014 and this downfall end in august or September then we go up. I personally feel that by then end of this year bitcoin will upto 40 to 60k. If this is bull run then i only buy little if BTC cross 10k and stay there for 2 to 3 days. Then i buy more once if bitcoin cross 13k and stay there for Day or two. At this point of time i am not buying i am just watching it. I will also buy if it go bet ween 6k to 5k again.
I hope friends this this will help you and what you thoughts about it share below.
