There is ample information and data to support my reasoning for being Bullish on Crypto…
I can start with one for Bitcoin, that according to the most recent CFTC report most of the Major Hedge Funds are going Bullish on Bitcoin Currency…
It suggests that Hedge funds have turned Bullish for the first time in the last couple of months with the long positions held by them being more than double in comparison to the short positions held in Bitcoin Futures…
This does give me a lot of confidence that Cryptos are not just done yet and that it is just a correction which was due for a few months now.
If you are talking about 100 years down the line, we don’t know. Probably yes…! For sure, we would be all dead before forex market could go dinosaurs’ way…!
Judging by chart analysis, nothing radical has happened on the BTCUSD pair in the last 24 hours. The downwards trend on the daily timeframe remains intact. Because of this, it’s perfectly possible that bitcoin will test the low range formed at the beginning of February, which runs from around 6,000 to 7,500 USD.
If we look at the fundamentals, the last 24 hours have seen one very encouraging piece of news. Yesterday, on the 15th of March, Lightning Labs launched a beta version of the Lightning Network; developed for the main Bitcoin network.
This is, of course, excellent news for Bitcoin. It shows us that developers are looking at every possible solution to Bitcoin’s scaling problem.
Nevertheless, I still think that even if the Lightning Network turns out to be a viable solution to the scaling issue, it will need time to prove its worth; specifically, that it can handle bitcoin transactions without any problems. Because of this, I don’t think that bitcoin’s price will immediately go up whenever a solution to the scaling problem appears.
Taking all the above into consideration, I’m going to stick to my position that if you’re thinking of buying bitcoin now, you should only do so if you plan to HODL for a very long time (at least 2-3 years) and you won’t start panicking if the current price undergoes a correction of 30-50%. If a correction does happen, I think the optimum price at which to buy bitcoin is somewhere within the range 5,000 – 7,500 USD.
Source: Bitcoin review (16/03/18)
yea, i opened a coinexx account yesterday, going to trade demo for a while to see if I can find a good profitable strategy. the forex and crypto markets are definitely not the same from what I’ve noticed
Well, they might have a bright future, but it’s not coming very soon. We need more stable coins to do something with crypto (like USDT, TUSD). Due the high volatility of the crypto market its difficult to actually use the pumping and dumping currencies in real life.
