Bitcoin has truly made it to stardom!
However, it is only the beginning...
Many different signs of Bitcoin's adoption have shown themselves in recent weeks/months.
The most recent was today's talks in Switzerland at the World Economic Forum (WEF). For 50 years the WEF has been hosting their events in Switzerland. It is by far the largest event in the world regarding economics and currency markets. Today marks the first day these efforts at the WEF were true. On a public forum, the future of digital assets was lightly discussed. Its benefits as well as the ability to promote it.
The price of bitcoin actually changed quite a bit this morning as a result of the convention! It was staggering downward to around $8200 and $8100 USD which then took a turn for the best. Jumping up to above $8400 USD where it has continued to lay steady.
Now with the Year of the Rat in full swing, the party times are over and people are about to start going back to work.
Tax season in the US is here now, and how clever would it be for some to use a little of their returns to invest in cryptocurrency?
Very smart! We may have seen an inevitable downtrend after hitting $9k this January. this is likely the last spike we see until mid-February. That is my opinion of course but the reason I say this now is that it needs to fall a little bit in order to return to being bullish. It won't fall much and it will hold a lot of resistance the closer we get to the May halving.
During this time everyone will be getting their returns, people will be back at work earning more money doing more business, and digital assets are going to push at us by advertisers.
February will be the month to lock in the fact that Bitcoin is Bullish and the long cold period of it mostly shrinking over the past 2 years. It will prove now that it will only increase for the next 2 years no matter what.
Already we are seeing tons of people compare bitcoin to gold saying that you should not limit yourself to one or the other. Both Gold and Bitcoin will be bought together by old and new investors.
People are ready to be smart with their money and nothing is smarter right now than bitcoin.
February could see another peak to $9k possibly even $10k or $11k if price analysis professionals are correct. Then of course in February it will need to slowly fall and find a comfort zone. When that dip happens in February it won't be the last time to invest while it is at its lowest. However, it will definitely be a great time to buy regardless of whether you got in too late or not.
March might not see a whole lot of action which will actually spark a lot of action if that makes sense! My prediction is that it will be mostly quiet and stable times for bitcoin. Like a calm before the storm!
This is because in April people are going to be ramping up for the halving the following month of May. April we will see a storm of new investors, new headlines, and new things to consider when it comes to building digital investment portfolios.
April will easily be the best month for bitcoin this year and if not. It will easily come in second! Definitely not something you would want to miss out on. The choice will be tougher during these times, whether we should hold or sell?
Just remember...
April showers bring May flowers ;)
