D4rkEnergY is back - once again - with a comparison from 2014. No one can deny, that it has some scary/interesting similarities. I heard some few people mention, that it's not relevant to make such comparisons.
My answer to those people are: "You are wrong! It's as simple as that"
You have to remember, that, THAT is the most fundamental thing about TA and Trading. If we didn't believe in, that markets didn't move in repetitive waves, cycles and patterns, and everything just was chaos, no one would have the ability to predict anything - and it would be pure gambling!
We are here taking look at the Weekly BTCUSD Chart. In this chart I have tried to calculate how high we would go in 2019 (Q1), if we applied the 2014-2017 price movements to a 2019-prediction. First of all, it's important to be aware of, that the new market moves 2,5 times as fast than back then.
As you can I'm still short term, and think we will go under 5,000 USD. But who cares? Then we can in the meantime get some cheap ALTCOINS, and after we have hit a 2 times (blue line) we are ready for a NEW Bull Run!
Let me be clear this is only speculation (and no one can obviously not predict something like this), but it's definitely not impossible to reach this target, if we see new institutional buyers soon come in!
So Ladies And Gentleman - "expect" Bitcoin to reach 70,597 USD in less than a year!!
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It is not implausible that a wobble in the bond markets (currently valued over $100trn) could create a redistribution of capital to find a home in cryptos; if lending money to governments suddenly becomes less appealing and global stock markets are also looking a little tired, where else could you park capital? So lets assume 1-2% of this is hunting for a new home..
Since almost all trades start with Bitcoin, the inflow could create an initial spike in price before finding it's way to alt coins, so although a prediction of bitcoin at $70,000 may currently seem inconceivable, it is certainly possible as it becomes a more established part of the financial markets.
If @D4rkEnergY $70k bitcoin is likely to happen, then waiting for an absolute bottom is potentially higher risk than dollar averaging in over the coming weeks/months.