In my earlier predictions, I estimated that a bull trap would occur on last Saturday or Sunday night. However it occurred roughly 2 days later.
$12K has been major resistance and support area in the past 6 months. I hope we will find new lows for the last time this year. It would be a more positive situation this year to find support and 8-8,500K. Let's hope.
However, another possible scenario exists - a repeat of BTC in 2013-2014.
Consider the BTC crash peaking at $1,150 November 29, 2013 and fizzling out to new lows in August 24, 2015 at $221. The rest of this year could just fizzle out as interest declines like it did back in 2014.
If the banks fail later this year or have problems, we could see crypto come back into the picture as the answer to whatever problems arise. Similar to a Venezuela situation. Everyone ready and primed to use crypto currency. Everything is connected. One big picture ...
Time will tell. Keep possibilities in mind and always be prepared.
(Please like or share if you found this information useful.)
My previous prediction (See below).
$12K has been major resistance and support area in the past 6 months. I hope we will find new lows for the last time this year. It would be a more positive situation this year to find support and 8-8,500K. Let's hope.
However, another possible scenario exists - a repeat of BTC in 2013-2014.
Consider the BTC crash peaking at $1,150 November 29, 2013 and fizzling out to new lows in August 24, 2015 at $221. The rest of this year could just fizzle out as interest declines like it did back in 2014.
If the banks fail later this year or have problems, we could see crypto come back into the picture as the answer to whatever problems arise. Similar to a Venezuela situation. Everyone ready and primed to use crypto currency. Everything is connected. One big picture ...
Time will tell. Keep possibilities in mind and always be prepared.
(Please like or share if you found this information useful.)
My previous prediction (See below).
