Don't you just feel alive again when Bitcoin is doing well? Optimism is in the air with a $95.2B MC!
Bitcoin people are celebrating all over the world with the SegWit news. Alt-coins are going crazy and LITERALLY 95 out of the top 100 currencies/assets are in the green. Of course one of the coins in the red is USD Tether... naturally people are jumping on the bandwagon with the recent rally. Today for example, I briefly saw a glimpse of an article here on Steemit that said something to the effect of "I just spent $100K on Bitcoin". People are getting some serious FOMO (Fear Of Missing Out) and the markets are really beginning to heat up. This could be the start of the next serious leap in BTC prices as some experts are calling for 5K BTC prices by year's end.
As for now lets keep our eyes set on that record high of $3000+ shall we? I truly think that its only going to take one more serious pump of volume to get us there. The last 24 hours have seen some serious volume on exchanges as BTC price jumped nearly 18%. It appears the resistance is forming around 2750-2800 range and once that is broken we will shoot way past the $3000 mark even faster than we shot up in price yesterday. IF we see any corrections or retracement it will be very minor as the momentum is just too great.
Likely Scenarios:
- BTC drops back to $2650 but more than likely we will see prices find support in the $2700 price range.
- BTC breaks the resistance levels in the mid $2750's and we see it shoot past $3000 mark which is a huge psychological barrier.
- BTC holds steady in the $2650-$2850 range for one more day before breaking $3000
If we happen to face a sharp sell off then retracement back to $2500-$2400 is a possibility. Not likely in the current climate however.
TLDR Version:
Bitcoin is going to be very bullish again (do to current market sentiments) and is holding steady in the $2750 range for now... waiting to break loose and shatter the old records. If it drops down it will drop to 2700-2650 before pulling back most likely. Remember FRIDAY IS PAYDAY for most people and guess what they will be spending some of their paychecks on??? BITCOIN :-D
*Never invest more than you can afford to lose and always do your own research before investing.