Bitcoin is the new age gold in a preferred hedge to fiat currencies as a fear commodity. The narrative is the same, the commodity is different. Why should the charts be any different?
Using some basic fib extensions to reach targets I think we will see anywhere between $100K - $140K in 5-10 years, maybe sooner. Always look at the narrative. Markets are higher than they have ever been. We are leaving a fear cycle into a growth cycle in 2020, which should mean the next 35 years is bullish , but things have taken off before the next growth cycle starts so there could be some major panic beforehand.
This is just a benchmark, so I wouldn't take the analysis quite literally. The whole point is just to scope out big picture. Sometimes you have to step out of your 4 hour charts to really see what the future is.
Happy trading all.
Using some basic fib extensions to reach targets I think we will see anywhere between $100K - $140K in 5-10 years, maybe sooner. Always look at the narrative. Markets are higher than they have ever been. We are leaving a fear cycle into a growth cycle in 2020, which should mean the next 35 years is bullish , but things have taken off before the next growth cycle starts so there could be some major panic beforehand.
This is just a benchmark, so I wouldn't take the analysis quite literally. The whole point is just to scope out big picture. Sometimes you have to step out of your 4 hour charts to really see what the future is.
Happy trading all.