Hey Friends,
Lets analyse Bitcoins movement today. If BTC doesnt go lower 6k$ level for about month, then on AUG-SEP there should be new cycle of price rise. This new cycle of price rise is called the new wave of rise and fall in the market cycle. I will explain the market cycle separately, but long bear periods, trigger a new cycle just at the time when investor disbelief starts.
We had a period of a bull run upto Jan 2018, where not just bitcoin, but most crypto currencies rose to a point Thrill and a lot of new investors, invested at the top. SInce then there has been a 6 month bear period covering most stages in this curve. So whats the trigger for the new market cycle?
On the agenda: ETF. News are preparing good conditions for starting a new rally. If we see around 1 trillion invested to crypto (plus to market cap) then we should see first impulse of the rally to the area 15k$-16k$, then market correction and second impulse to 23k$-24k$. All we know that BTC main advantage in comparison with traditional assets like GOLD, USD and etc, is limited supply (21 millions BTC). Also important fact that 4 millions BTC were lost forever according to the info from "Building on Bitcoin" conference and 2 millions were stolen according to CCN.
There are officially registered about 16 million millionaires in the world and according to the math of bitcoin there can now be 21mil - 6 mil = 15 millions, which is 28.5% - less than the fixed fixed emission. Based on this we can assume (although personally I have little faith in it) that McAfee shouldn't have to do what he promised and the cost of bitcoin will reach 1 million USD one day. I dont think that BTC price peak is 20k$ only. BTC has more potential and probably we will see 100k$ price per 1 BTC.
But the way to Mount Everest is known to be difficult and not many will climb to the top. And only some of us can survive till the new peak of BTC. But the problem is that no one know where this second peak is».
Be ready for sharp dumps and doubt in further rise, fast bounces up and etc. And all these have only one reason - to shake off the weak hands from the train. Those who hold in times of strife, reap the benefits when the price is right!!
Lets see what happens