Why hello there!
Author - Trevor Balthrop
*Please be careful when investing or exchanging any type of goods or services. Cryptocurrency is considered a risky venture that could potentially cause a lot of hardship in any moments notice. This is because any investment whatsoever, albeit stocks, real estate or cryptocurrency. Can at any moments notice completely fail and go under. Whether it be to technical failure, criminal actions, or natural disaster. Handling of finances should be done with utmost care for yourself and your family. Stay safe, play safe, and freely educate!*
Bitcoin has been on quite a wild ride since the beginning.
Bitcoin price as of December 29th, 2019 @ 5:25 PM PST - $7378.33 - (source: CoinMarketCap)
Bearish for what seems like forever now
Bitcoin has had it's moments this last year 2019!
Looking at graphs now it is apparent now that things started proving bullish for us this year right around mid-February.
Eventually making climb after climb after climb paved the way for a bullish uptick. Things went nice as the price blasted up from lows of around $3200+ to highs of around $12,000+.
Over the course of about 6 months, the Bitcoin bull run took off and didn't flip until that July price peak.
Since then we have seen a few good jumps but overall Bitcoin has been on a downward bearish decline.
A tease here, a tease there, just to keep us invested and attached. Only to forget that bear markets take forever.
Bearish as it be it sort of does seem like it has been Bearish for quite some time now.
One last monolithic spike above 13k before the end of the year should be very obviously highly unlikely.
With just 2 days left in the year for most people in the world. For that to happen now would be silly.
This is for many reasons too!
Fears are still very much a thing in the minds of many.
Stigmas are still very much in the minds of people across the globe too!
An extremely small amount of people in the world even hold onto a cryptocurrency despite the fact that now most people have actually heard of Bitcoin and Crypto.
Now that it will be a new year, we are looking forward to seeing new trends and better yet. Big changes in store for many of us that could be met with a lot of resistance at first.
Meaning it may seem like a Bear stretch is coming to an end.
Except that we have reached a very interesting and almost unseen or unheard of crossroads in the industry that is bitcoin.
Many would now argue that this interesting crossroads signals that this bearish downward haul is over. Meaning we should slowly start going bullish now to get the gears turning upwards over the next couple of months.
This would make sense if we had ever been through such a crossroads before. Granted we can make comparisons all we want to try and predict the outcome.
One things is always for certain and that is. No one can predict the future!
The outcome of this is we have no idea what is about to happen we only know what is happening right now in the moment.
Or what has already happened in the past.
What we know for sure is that bitcoin has been recently more adopted widespread around the globe. Whether it be in the form of bitcoin or in the form of a new cryptocurrency or altcoin such as Petro like the Brazillian government has begun as of very recent.
In fact, if you live there you can claim free Petro airdrops right now at this very moment!
I would be extremely careful of scams though.
Since this year marks an important year not only for calendars everywhere. It is an even more important year for the digital currency race that has just begun.
What does that all mean for the price of bitcoin crazy stupid Trevor person?
It means bitcoin has already started to go through its next biggest test.
A test that a lot of people have been waiting for since it's inception.
Widespread government backed adoption of bitcoin and crypto will certainly make it so that eventually some time this year.
The price of bitcoin and many other currencies will no doubt peak and reach a high price value.
High enough for you to cash out on if you play your cards right!
Except don't expect it to happen any time soon.
We may be in what we call a Bullish market now but we have not seen the end of dips as we know it.
January 3rd marks a day in which we should see many dips!
This is because of a new globalized tradition in the cryptomarket that started over the years. Where asset hodlers everywhere purposefully withdraw funds from their exchanges in an attempt to hold accountable those that do not actually run legitimate asset holding businesses.
January 3rd marks the day tons of people pull money out of their accounts only to turn around and put all of it back into the exchanges of their choosing.
Rather it be the same ones or new ones!
With so many new options out there that seem to be better and more regional. Around this time January and after this time we should likely see a lot of ups and downs.
This mixed with tax season, the beginning of a new legendary year, new looser bank laws, the upcoming halving in may, and the rise of new marketing schemes backed by services.
Bitcoin is about to see one of the craziest roller coaster rides it has seen to date.
May 2020 would mark that it is 6 months away from December 2019.
If it is timed right and we truly have gone bearish here at the end of December 2019.
The price of bitcoin could spike to one of its all time highs right before an extremely important halving event.
Sending the price of bitcoin to even new heights that could potentially break its highest ever record.
This would of course not be an instantaneous thing however it might seem like it if you forget to check on it during this time.
Pay attention this year!
This year marks a huge year for the price to soar whether it ends up breaking old records or not. Our world is about to test the limits of bitcoin and it might make a lot of people really happy and/or really angry.
After we see this weird up-and-down stalemate relationship around $7500. You'll be wishing you bought by the time it soars up in price 3 or 4 months later.