Expected bitcoin price dec 2017

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BTC/USD Video 19.12.17

In general, I think that it’s going to be difficult to break above the $20,000 level, but once we do it could be a very positive sign. There is a certain amount of psychological resistance with these large, round, psychologically significant numbers, as we had previously seen near the $10,000 handle. We may get a violent pullback, but I suspect in the end it went to be in a buying opportunity, offering a certain amount of value in a market that has been so bullish.

Volatility is going to continue to be an issue on short-term charts, but it does look like the momentum continues to be slowing down on the longer-term charts. I think Bitcoin has entered a phase where it might be more of an investment than a trade, something that we haven’t seen for the last year. Remember, the markets were down $19,000 below where we are now just a year ago. This is a market that has overextended the rally, and therefore the “easy money” has already been made. I believe that the market is going to continue to be noisy, and therefore it’s probably best to enter slowly, especially if you do not have a core position already. In fact, if you don’t have a core position, you might be better off waiting for the inevitable drop that we get occasionally.

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