A Quick analysis using 1 year trend line below. The 8K "bottom" has been in place for 6 months.
A couple of seasonal bumps are likely coming our way as we approach Black Friday, and conversions to fiat will most certainly take place (to buy those presents big and small), with a gradual recovery likely then another downward short term blip for the same type of activity during the December holiday season, per the last 3 years or so.
Thereafter, even if there are disasters man-made or natural, (which simply accelerates Bitcoin's value upwards) expect the BTC "bottom to rise quickly to settle above 10K US by Feb 14th.., and settle in for a long run up in valuation setting up for the 2020 US election amplified by the next Black Friday "Shopping Frenzy" driven downward blip.
Is a 12K or even 15K peak likely before the next US 2020 election?
IMO a 12K peak showing up before the 2020 US Elections is highly likely.
If Mr. Trump looks like he will prevail in 2020 for the Republican Party, expect 15K with the US $ also staying strong and gold rising to 2K.
If the US election 2020 Democratic Candidate looks like they will prevail, expect Bitcoin to hit 20K, Gold to go to 2.5K or even 3K US, and the dollar buying value to deflate against other fiat by 10-20% , and settlement in US$ drop by as much or more.
The latter Dem scenario almost certainly means prices for everything in the US and worldwide are likely to rise 15-35% before the end of 2021 with an installed Democrat President in the US. Don't expect ANY real wage raises to keep up with that inflation if this DEM scenario plays out.
If China "lights it up" with the pre-2020 introduction of CN state crypto currency backed by gold (China likely have 20K tonnes of Gold) for International Settlement, regardless of 2020 Election outcome in the USA, then expect #Gold to go to US 3K or higher, BTC to peak to 25K or even 30K before the end of 2020, and the US $ to tumble in buying power and valuation by at least 35% maybe even 50% in this third and increasingly more likely scenario. . , given the political tensions and egos on both sides of the USA China conflict.
It wont really matter who gets in , if the latter scenario above happens
My graph analysis, and possible three outcomes for #BTC and US $ after 2020 Election below: enjoy. ;)
Blue- DEM President Elected in 2020 effect on BTC price peak
R -REP President Elected in 2020 effect on BTC price peak
CN- China Effect on US$ Buying Power & BTC due to Release of Gold backed Crypto for Int'l Settlement before the 2020 election
TK over and out
PS- Silver and quality cryptos with good transaction #s and $ volume support are excellent buys, heading into 2020