Addendum to Cryptocurrency Correction - January 17: The ten most critical cryptocurrencies by the market cap plunged on January 16, suffering enduring double-digit percentage deficits. At the time of writing (Jan 17). Bitcoin, last seen is down over 25% following more talk from the central banks which promised deepening investigations and possibility blocking accessibility to specific trading platforms.
The Trade Selector Signal projected initial price decline in the range $10090 to $9656 was met by Bitcoin dipping with low of 9786. A further fall is in the cards to $9132.
Addendum to Bitcoin Cryptocurrency Upcoming Correction article - January 10: I trust you are aware that Harvard University professors foresee Bitcoin downfall as a result of federal government regulation?
How long have I been cautioning you that the federal government is not going to accept competition? Currently, we will have swell to control. Plus, in a way, we are also going to see the change in news reports movement too much more unfavorable when it comes to cryptos, and this will begin to blow the gusts of winds as a change towards the bursting into a lower outcome.
In retrospect, the kick off of Bitcoin futures contracts in December of 2017, has shown to be a somewhat disappointing event, once the first CBOE (Chicago Board Options Exchange) then CME (Chicago Mercantile Exchange) began trading Bitcoin futures, the trading is churning in a range between $12,000 and $17,000.
Even though it gave a hand to send the price of Bitcoin crypto higher as traders and investors braced for the institutionalization of Bitcoin, the world's most well-known crypto had stagnated since the beginning of January 2018. The Trade Selector Signal projects initial price decline to a range between $10090 to $9656 in the next few weeks.
The article May 25, 2017: With an imminent Bitcoin cryptocurrency correction, this is a forewarning for anyone who owns Bitcoin or who is thinking about investing in the crypto-currency. Bitcoin has become popular since it is more discreet and more reliable than currency systems controlled by banks and governments.
The downside is that the crypto-currency is volatile and that major parties like governments and companies can manipulate its value by buying or selling.
As of this writing, one Bitcoin cryptocurrency is worth more than $2,700 USD, and I believe that a correction will happen soon. I think the value could drop by as much as 1,500 points, which would result in the value of Bitcoin being reduced by half.
Bitcoin has skyrocketed over the past year. The currency went from being worth $600 to $2,700. We can clearly see a parabolic rise that won't be sustained with the value of the Bitcoin doubling in the past month. There are excellent long-term prospects for the crypto-currency for many reasons, and I truly believe that we will have a price of $10,000 per Bitcoin in the future. However, the parabolic rise is a sign of overconfidence and won't be sustained.
Bitcoin cryptocurrency are a good thing, and they are going to become more valuable and could be made more relevant than ever before if another financial crash happens, says David Stockman who believes that the market could fall by 40% or even more in the next crash. The market could drop to 1,600 or 1,300 once investors realize that the market is pricing itself for perfection. Current prices reflect a situation that doesn't exist - full employment forever, no recession or any economic surprise or upset or dislocation.
Central banks will soon be a thing of the past. Bitcoin cryptocurrency could replace other currencies and end up being worth $10,000 or more. The rise of Bitcoin will continue as long as the Internet remains available. We also need a significant portion of the population to have access to computers, and we need enough redundancy in the blockchain for the Bitcoin transaction ledger to be maintained.
Bitcoin cryptocurrency is currently overvalued. The Bitcoin reached the $2,700 mark because of a high purchasing trend. I think that this trend was motivated by irrational speculation. A lot of people look at Bitcoin as a speculative investment vehicle. It is a real transactional currency and should be treated as such by investors. Some people catch Bitcoin fever and decide to invest in the crypto-currency based on speculation. This is currently the case in Japan where people can purchase Bitcoin with a 20% premium.
Purchasing Bitcoin is very easy, but exchanging them for cash is not simple. A lot of people don't realize this because they want to purchase Bitcoin and haven't tried converting their Bitcoin back into their local currency. This can be a slow and invasive process.
Download the Bitcoin Core wallet to keep your Bitcoin safe. Store your Bitcoin in your wallet and wait for the upcoming Bitcoin correction. Once this happens, a lot of investors will sell, and you will be able to invest in Bitcoin at a lower price.
Remember that this is only my opinion, not an investment advice. My assessment is based on the fact that a lot of Japanese Bitcoin buyers are jumping on the bandwagon without really doing any research and that the current price of Bitcoin is based on speculation. It is possible that the value of Bitcoin will keep increasing before the correction takes place.
Bitcoin won't lose its value even if a correction occurs. Demand will still be high, and it is likely that the demand will be sustained once the value falls below $1,000. More Japanese and Chinese citizens will want to invest once Bitcoin reaches this mark.
Bitcoin cryptocurrency has an incredible future, but this doesn't mean you can't lose money on the short-term. You can prevent loss by not buying high and by avoiding panic selling. Keep up with economic news, financial risks and other events that could impact Bitcoin.
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