Path of Reconciliation
Updated
Herewith my forecast for the upcoming year. The target set in my last chart (link below) from 2016 was reached, but the timing was off which I've adjusted in this chart along with some other things. In writing this chart means:
- Upcoming weeks: retesting $10.000 and trying to breach the red downward trend line
- Upcoming months: if it fails to break the red trend line in the short term it's going to follow it downwards to set a new last low around $5200 up to flash crashing to $4200 (rough estimates)
- Second half 2018: recovery and consolidation
- Start of 2019: on the path to new ATH's
Notes
- What I don't like about this chart is how similar it is to the behavior of BTC since 2012, but that's how it is so far.
- I think setting new lows for the cryptomarket as a whole could be a good thing, it might weed out all the bad actors, delusional "average joe" investors and the many coins which are just plain scams. During this process BTC would regain a higher share of the total market
- Given how the Lightning Network 0.4 beta has been released recently and seeing how eager people are in adopting it by setting up nodes and whatnot, I think in the upcoming year this could be a really big driver for continued adoption and positive attention to Bitcoin. Perhaps the time will finally come to be able to spend our Bitcoin everywhere without converting to fiat (the reason why I got into it in the first place)!
Good luck!
- Upcoming weeks: retesting $10.000 and trying to breach the red downward trend line
- Upcoming months: if it fails to break the red trend line in the short term it's going to follow it downwards to set a new last low around $5200 up to flash crashing to $4200 (rough estimates)
- Second half 2018: recovery and consolidation
- Start of 2019: on the path to new ATH's
Notes
- What I don't like about this chart is how similar it is to the behavior of BTC since 2012, but that's how it is so far.
- I think setting new lows for the cryptomarket as a whole could be a good thing, it might weed out all the bad actors, delusional "average joe" investors and the many coins which are just plain scams. During this process BTC would regain a higher share of the total market
- Given how the Lightning Network 0.4 beta has been released recently and seeing how eager people are in adopting it by setting up nodes and whatnot, I think in the upcoming year this could be a really big driver for continued adoption and positive attention to Bitcoin. Perhaps the time will finally come to be able to spend our Bitcoin everywhere without converting to fiat (the reason why I got into it in the first place)!
Good luck!
Note
An updated view indicating we might not have another bull market until the next halving around May 2020 - For the short term the long term support lines indicated in blue are about to be tested, meaning we might dip to around $4000,-.
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