“Any bull market covers a multitude of sins, so there may be all sorts of problems with the current system that we won’t see until the bear market comes.” – Ron Chernow
In the cryptomarkets, time moves faster than normal. Due to the lack of regulation, the simpleness of placing buy and sell orders, one month seems like a whole semester. Amidst all this constant change, we lose sight of what we thought was going to happen. To that end, I have started Bitcoin Predictions (BP). These will be my thoughts, published on the beginning of every month, on what is going to happen with Bitcoin. I will combine resources from all types of places: Twitter, Telegram, Discord, Facebook Groups, Private Conversations, Free and paid newsletter to see how accurate my understanding of the cryptomarket can be.
As I write this, Bitcoin is experiencing a crash of 13% down to 12,000 USD levels. Now, a lot of people are panicking, but that’s because they are focused on the short-term. What I observe it that previously, when Bitcoin dipped, altcoins tended follow, both in USD and BTC terms.
These last 2 weeks have shown exponential growth in several alts despite Bitcoin consistently dropping. This leads me to believe that before Bitcoin profits were being cashed out in USD and altcoin investors were panicking selling to get BTC and retain their USD. Profits seem to now be distributed amongst select altcoins, which are one at a time blossoming.
This represents, in my opinion, a fundamental change in the investors who are trading Bitcoin, it shows that
- Investors don’t expect large gains from Bitcoin in the following month.
- Investors cashing out Bitcoin are not investors in only Bitcoin but in Cryptocurrencies as whole.
With bank transfers closed at the end of the year, we can expect for Bitcoin to open 2018 a little over 10 000 USD since I assume most portfolio do not have USD set aside to buy the dips. On January 2nd, deposits hit exchanges, investment funds and P2P sellers, meaning a great deal of money will be coming into cryptocurrencies. This, aided by the mainstream media, convinces me Bitcoin could reach in January 22 000 – 27 000 USD. Doubling its current price.
I do think we will see this kind of movement at the end of the month. Throughout January we may see some dips, I have seen bottom calls of up to 8 500 USD. While I doubt Bitcoin will drop below 10 000 USD, it is totally possible to have a flash crash.
Bitcoin Price Prediction (BPP)
|Top||22 000 – 27 000 USD|
|Bottom||8 500 – 12 000 USD|
Dates to watch out: Second week of january for dips. Fourth week of january for bull runs.
Market sentiment: Bullish
Things to watch out for: Tether-Bitfinex,
Coins to watch out for: Cloak, SALT, NEO, OMG