$2000. That is my Target.
I have posted a couple Bitcoin opinions on here and on Twitter, Stocktwits and Reddit. Last night I thought that the 2016 highs were going to be taken out and ATH were inevitable in 2017.
Take a look at this chart below, yes I know that it is logarithmic but it is much easier to see and explain this way. Besides Prices and Technology move exponentially anyways so people that complain about using it this way does not make any sense to me. Bitcoin has been in a long consolidation for almost 3 years. This is a very long time to go sideways.
This is VERY VERY Bullish. Assets correct through PRICE or TIME. Granted this has had a very large price change but as you can see all the price did was come back and test the prior “bubble” of bitcoin in 2013. Inside the red box, as it bounced off the prior highs you can consistently see higher highs and and high lows forming this new trend. I believe it is only a matter of time before we see Bitcoin above $800 and going towards $1000 and I believe it is in the coming weeks.
Remember when BITFINEX got robbed at the end of July after the BREXIT (which by the way was the inflated rise over the summer)?
And that was the end of Bitcoin and it was going back to $200 or $0. Lol. That was just another buying opportunity people missed as it bounced off the $470 support level and ripped back to where we are today at $750. I had people texting me if bitcoin was done and should they sell. This is Very Very Bullish Price Action.
Looking at a close up Weekly chart, you can see the Inside week that just cleared. I know many would like to get a better price or for it to go sideways a couple weeks but that is the exact reason why it may not. The market is built on this emotion and for that reason may NOT go sideways and wait on people to get in. If Bitcoin gets over $785 there is going to be alot of PANIC BUYING. And those short on Bitfinex and are Reddit will be in alot of pain.
$2000 dollar Price Target was my original Target I placed on Bitcoin at the end of Last Year. And that might be too low.