Bitcoin’s price sure has been a wild ride since the beginning of 2018. Tons of good and bad publicity, the futures market, and of course the crazy volatility with Bitcoin’s price hitting highs of nearly $20,000 and lows of nearly $6,000. However, I am beginning to think that the crazy volatility is coming to an end and we are about to enter another period of stability and rising prices.
I know, you are probably skeptical of that. But let me explain my logic and the similarities to past market patterns. See the chart below? You can see the sudden rise, followed by the return to pre-rise levels, then a bunch of volatility.
Now, take a look at this chart. This chart covers May 1st 2017 through August 31st 2017.
Although the changes are less dramatic, it’s easy to see that Bitcoin went from $1,300 to $2,600 quickly, followed by some high volatility, a short session of stability, and then a steady rise. Now, comparing this chart and the last, you can easily come to the conclusion that they line up pretty well; except the first chart (being the present price) stops in the middle of the stability period. This is where my prediction of a rise comes in to play.
My Thoughts Summarized:
While nobody can be right 100% of the time (and trust me, I’m no exception to that rule), I am pretty sure that we will be seeing a bull run withing the coming week or two, probably ending up somewhere between $10,000 and $15,000.