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Bitcoin - $8000 imminent

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Bitcoin is approaching $8000 which means on balance of probability based on the current strength of the trend and historical patterns this is on course to hit $10,000. The question is will this target be hit before 31st December 2017 or after?

 

I also see a very big correction once it hits $10,000 before it continues to attempt $15,000 and $20,000. 

 

Bitcoin has gone into the history books as Cryptocurrencies and Blockchain (DLT) is here to stay and is the future in one form or another. The pivotal point from an historical perspective will be Bitcoin. The quantity of Bitcoin until it hits 21m will be less and less as every year passes which means the price is likely to continue increasing.

 

It could be that Bitcoin is the mother of all Crypto's and all other Cryptos may be pegged to Bitcoin in the digital currency universe! This would make it similar to the Gold Standard...

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Bitcoin continues on it's charge though there is dissension in the ranks (see the latest posts in the mega thread), the rebels threaten forks ahead which could split bitcoin and breed progeny which are something other than bitcoin. 

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$8000 intraday was or should I say intranight was hit!

 

The sharper the correction the higher chances of a greater increase on the next leg up.

 

I have said previously that this is one of the best and strongest trends in my lifetime. They come once in a generation. All we have to do is make sure we know our EXIT PLAN. 

 

I recently invested in XBT Provider AB Bitcoin Tracker One in SEK (Swedish Krona) and EUR (Euro). It is an ETN (Exchange Traded Note).

 

The trend is your friend and this friend is so nice and strong that you should never bet against it.

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Thanks for sharing your observations.

I'm new to cryptos so I find comments like yours interesting and helpful.

How do you react to the fact that the use of bitcoin for buying stuff is progressing very slowly?

Nothing like its price!

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If you read some of my other posts then you will find the answer to your question and many other questions that you may have.

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