Hi traders, let's look at Bitcoin.
To save you precious time, we've summarized our thoughts on two charts.
This analysis assumes that Bitcoin has bottomed and is pending fundamental news to start a new bull run.
Note the similarities in structure between the market in 2018:
We believe the market is in "waiting mode" pending more fundamental news coming from regulators (SEC).
Fundamentally, the technology is stronger than ever.
The progress made in Rootstock (smart contracts on Bitcoin), drivechains (custom side-chains on Bitcoin) and Lightning (instantaneous payment channels) tell us that the network will, in the long run, acquire many of the features that justify the existence of altcoins (thus making many redundant) but with better security at its core, which is basically what you want from an open financial protocol.
- Don't obsess over price action.
- Start accumulating Bitcoin in preparation for the next market cycle (trade with the smart money).
- Don't day-trade the chops.
- Get involved in the community(ies) you support.
Until next time,
This content is for informational purposes only and does not constitute financial advice.