WHY BITCOIN WILL BOOM IN FEW MONTHS ?
As we all have witnessed that bitcoin sky rocketed in December 2017, it is now at its all time low after that huge spike in price action. current situation is indicating that bitcoin will be once again boom upto that price level.but people are now-a-days going through the phase of disbelief and anger, everyone of us believed that it will reach upto 50000 $ or even 100k usd. but we were failed by big whales. bitcoin started falling after CBOE & CME entered the market. which made a lot of price manipulation in price action of bitcoin. this reason will no longer exist because CBOE & CME futures contract will expire in upcoming days . plus big institutional investors will enter the market with huge investments.
mt.gox selling affected bitcoin price whenever it tried to break any higher resistance level but that reason will also no longer exist untill mid june 2019. mt.gox have been banned from selling huge bulk of bitcoins. as it always manipulated a bitcoin price a lot. now institutional investors and retail investors will control price action of bitcoin which is good for its future. these positive news confirms bitcoin bullish sentiment in upcoming future.
TRIPPLE BOTTOM CONFIRMATION
If anyone follows bitcoin chart he will be easily able to understand that we may have reached the bottom. because bitcoin is forming tripple bottom formation. I know some will argue that we fall below 6k but we are still in the zone of tripple bottom. The only thing that matters is we need more volume to come in and it will be possible only by institutional investorrs. so we can assume that it is also a good chance to enter the market at 70% discount for institutional investors. CBOE and CME will not trade bitcoin if its market capitalization falls below 100 billion usd. which I think is better for its fututre. because there will be no price manipulation. we can see we had formed two bottoms before in the picture below. and we are forming third bottom at this moment. it may be the bottom for big investors to come in. and if big investors will come in then these could be the possible targets for upcoming months or till the year end.
If you doubt my analysis then there is a point you should consider for its price action, that bitcoin price cannot go below mining cost, and if it does... then miners will shutdown their mining process. them same formulae will apply here in the crypto market" less supply and more demand", because miners will no more mine bitcoins as it will cost them more from their benefits. that is why we are near the bottom and it will explode infew months....
Here is an example of price action if tripple bottom formed.
Always remember in the crypto market ther will be manipulations and sentiments going on, sometimes good sometimes bad, but if you bileve in this new asset classs then my advice to you is for long term hold. because any fortune maker you see today have made their fortune in long term hodling...
I hope you will keep your faith in this new amazing revolutionary technology and made your strategy accordingly for your future....
thank you
