BTCUSD potential re-test of $9k support and long term thoughts
Potential re-test of 9k support expected before the end of January. Closing the day below 9k (unlikely) would mean stepping back to the Jul-2017 trend line and testing 6k support. Watch carefully where the price bounces and buy after the dust has settled, not while falling down :)
If history repeats again (as it usually happens) the downtrend will reverse and a new trend line could form, confirming the exponential growth in the long term and BTC could break the 20k mark in a few months.
This is quite possible, especially if Bitcoin's scalability problems get solved (or at least the news of that come out) and considering the fact that there are only 6.6 million wallets containing above 0.01 BTC (~$100 USD). At 1.5 wallets per person there are about 4 million people holding Bitcoin. Only 2.3 million have above 0.1 BTC (~$1000 USD).
Feel free to post in the comments your thoughts on that.
If history repeats again (as it usually happens) the downtrend will reverse and a new trend line could form, confirming the exponential growth in the long term and BTC could break the 20k mark in a few months.
This is quite possible, especially if Bitcoin's scalability problems get solved (or at least the news of that come out) and considering the fact that there are only 6.6 million wallets containing above 0.01 BTC (~$100 USD). At 1.5 wallets per person there are about 4 million people holding Bitcoin. Only 2.3 million have above 0.1 BTC (~$1000 USD).
Feel free to post in the comments your thoughts on that.
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