Bitcoin has a clear short term future (5-10 years)
Bitcoin is the new age gold in a preferred hedge to fiat currencies as a fear commodity. The narrative is the same, the commodity is different. Why should the charts be any different?
Using some basic fib extensions to reach targets I think we will see anywhere between 100K - 140K in 5-10 years, maybe sooner. Always look at the narrative. Markets are higher than they have ever been. We are leaving a fear cycle into a growth cycle in 2020, which should mean the next 35 years is bullish , but things have taken off before the next growth cycle starts so there could be some major panic beforehand.
This is just a benchmark, so I wouldn't take the analysis quite literally. The whole point is just to scope out big picture. Sometimes you have to step out of your 4 hour charts to really see what the future is.
Happy trading all.
Using some basic fib extensions to reach targets I think we will see anywhere between 100K - 140K in 5-10 years, maybe sooner. Always look at the narrative. Markets are higher than they have ever been. We are leaving a fear cycle into a growth cycle in 2020, which should mean the next 35 years is bullish , but things have taken off before the next growth cycle starts so there could be some major panic beforehand.
This is just a benchmark, so I wouldn't take the analysis quite literally. The whole point is just to scope out big picture. Sometimes you have to step out of your 4 hour charts to really see what the future is.
Happy trading all.
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.