Patience is a virtue
Probably a more realistic scenario for BTC is not a quick recovery - no fundamental reasons for it - but a long period of accumulation following the period of distribution that was 2018. You can choose to trade the chop or you can pick the long term view and buy low and forget about it for a few years.
If you think you are a trader but want the price of BTC to go up, you're fooling yourself. You're not a trader, you're an active investor. And that is the best way to lose your money ASAP. Find out who you are and act accordingly. I doubt that we will see 10K in 2019 or even 2020 and, if you're honest with yourself, you should see that is very unlikely unless we get some really bullish news. Bull runs don't happen because you want them to.
Don't think Bakkt or other derivative markets will cause a bull run. Derivatives only take money OUT of the actual BTC market, they do not add capital to it. Big players prefer BTC to remain between 3 and 6 for longer. They don't make their money of a rise in BTC prices. No way to cash out on that. There is money to be made from volatility in a controlled trading range.
Bitcoin is not dead, not even close, but 2017 was a bubble, 2018 was the year of distribution, 2019/2020 probably will be accumulation. It helps to understand the market and the maturity level of crypto. We are not even close to adoption and if you hoped to get rich quick, you probably will be disappointed.
If you think you are a trader but want the price of BTC to go up, you're fooling yourself. You're not a trader, you're an active investor. And that is the best way to lose your money ASAP. Find out who you are and act accordingly. I doubt that we will see 10K in 2019 or even 2020 and, if you're honest with yourself, you should see that is very unlikely unless we get some really bullish news. Bull runs don't happen because you want them to.
Don't think Bakkt or other derivative markets will cause a bull run. Derivatives only take money OUT of the actual BTC market, they do not add capital to it. Big players prefer BTC to remain between 3 and 6 for longer. They don't make their money of a rise in BTC prices. No way to cash out on that. There is money to be made from volatility in a controlled trading range.
Bitcoin is not dead, not even close, but 2017 was a bubble, 2018 was the year of distribution, 2019/2020 probably will be accumulation. It helps to understand the market and the maturity level of crypto. We are not even close to adoption and if you hoped to get rich quick, you probably will be disappointed.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.