It would be too early to call a bottom is in place for bitcoin, however it is showing signs of consolidation and in the next couple of sessions only we can get a clear picture of a bottom in BTC. Considering the sharp sell-off lately, if BTC will be able to stay range bound also, then that will be a relief to some extent and the fear will be subsided.
Technically the major resistance now is 5500 level and it was earlier a strong support and as it had already been broken it will be tough for BTC to conquer that resistance and on the downside 3300 level should provide the support followed by 2700 level and if the 2700 level breaks then the next support should be 2000 level which is both a psychological as well as technical support.
It is always better to remain on the "right side" of the chart and if you know the art to stay on the right side of a trading chart then you know the art to trade north(bull trend). That is why premeditating shot of speculating a bottom is always dangerous and if there will be a bottom, then your trading chart will give sufficient indications to you and once that bottom gets matured, then the next phase will be bull run, so the best thing to do at the moment is to have a hawk eye on the chart, learn to study about technical analysis as much as possible, that will certainly help a lot to trade a chart.
Thank you and Have a great day.
No. Because everything is already in crypto. Sadly, had to pull out a bunch to cover my ass in case it kept dropping.
What ANY of us THINK is completely irrelevant. Market gonna do what market gonna do. 🎃
> Have you bought the bottom in crypto this year?
I wish I did but no, I didn't.
> Do you think that Bitcoin had its bottom recently, for the year, or it didn't happen yet?
That isn't something so easy to predict. I am not sure but I did write an article about it. I don't think Bitcoin will go below 3k in the next few months. That is my own opinion. For more details read:
In my opinion, now is not the real bottom of crypto prices. I am sure that the bearish effect that comes when an important event (Christmas, end of the year, long holiday, and new year) will still continue. So, maybe we will see the bottom price around January 2019.
I have managed to acquire some cryptos at their lowest price.It is hard to say if bitcoin will go any lower than this but if it does well then i will be buying up as many relevant cryptos as i can with steem being at the top of the shopping list.
I have bought few cryptos and the value at present is dust. I am sure that bitcoin has faced its bottom and will not going to touch it again in anytime soon (for next 6 months) and I think we will never get to see such downward price trend lines. As of now bitcoin is rebounding and I am also sure that bitcoin will get back to its original level of $7000 by mid December. Bitcoin will no more be going to hit that bottom as Bitcoin Cash problem is resolved as of now.
Secondly about ETF that is not going to happen and no body really cares about centralized people view on it i.e. government. As of India, Officials here are trying to get finalize on their mood for cryptos either to dump it or regulate it. Regulation will be going to be their choice, I hope.
Thirdly, every nation's strategy is running parallel and they are yet to decide with cryptos sounds suspicious to me as none of these countries like India or USA are in a position to pass a verdict on it.