Welcome to another week of Bitcoin!
Every Monday a new post is published to Publish0x here to discuss current thoughts regarding Bitcoin & Crypto News.
Each discussion looks at Bitcoin historically, currently, and futuristically.
Past, Present, and Future will be used every week to represent thoughts on Bitcoin.
These are 100% opinions meant to inspire and educate.
That Hodl Over There = T.H.O.T. = Thought
This week's thoughts about Bitcoin!
Toward the beginning of September 5th we saw yet another good push down again bouncing of of the $9800 area.
By the time the day wrapped up we were hovering around $10,100 USD.
Bitcoin Last Week
At the start of week 36 we were sitting on a throne of $12k per Bitcoin.
Over the course of about 5 days we saw the long awaited correction that has now dropped us to the week's close of $10,100 USD.
Going into the 37th week here we open at $10,100 USD which is a pretty good bargain on Bitcoin compared to prior weeks.
Do be careful if deciding to grab at this price range though as many in the market believe the CME gap to $9600 will be filled soon.
Whether that will happen or not is unknown of course and the fact still remains that we are in an uptrend still.
Bitcoin Last Month
September has full kicked and left August with an impressive bar to beat.
In August we begun with a price of $11,300 USD which already felt high for the time.
The price didn't stop there and continued to rally up in the $11.8k to $12.4k for a majority of the month.
By the end of August the price for Bitcoin settled at $11.6k before getting in one last pump this first week of September.
Bitcoin Last Year
In 2019 around this time the price was fluctuating between $8k to $10k per BTC.
Compared to a year ago we are not really that far above that range.
However, last year there was not as much craziness happening in the markets compared to now.
This should be a sign for Bitcoin believers to keep believing as Bitcoin continues to outperform itself year-over-year.
Even in the midst of multiple black swans, huge uncertainty, investor adoption, media scrutiny, and competition with Gold.
Bitcoin is still set to outperform itself despite all the rubbish which is a big win for Bitcoin.
Bitcoin Right Now
BTC is currently sitting at about $10,285.00 USD as of the time of this writing at 3:20 PM MST.
The numbers are coming in per usual with price reaction showing Bitcoin hovering between $10,300.00 USD and $10,150.00 USD.
Signs are showing of slowing leaving markets to start leaning toward wanting to go up in the immediate short term potentially.
Altcoins should be and have been very interesting to watch on this Sunday here.
Bitcoin This Week
The talk of the week is going to be all about the CME Gap as we still have not seen it fill after the latest correction.
We opened this week at $10,100 and so far we have not seen this gap get filled.
All eyes are on this price action ever single day until it does since prices of Bitcoin under $10,000 could soon be a thing of the past for quite awhile.
This is set to happen this week and could potentially happen by September 8th.
This is the day that talks regarding federal reserves around the globe and in the US make monetary decisions.
Decisions will 100% effect the outcome of pretty much every market.
The only day after that bigger then September 8th would be November 3rd the supposed day the US finds out who becomes the newly elected President.
For now the focus is this week's outcome & if somehow the CME gap is not filled then there will still be plenty of time for that to happen.
Bitcoin This Month
So far this September we have likely already seen the High for the month of about $12,045.00 USD.
The month is still early but we have seen a low so far of $9,875.00 USD.
The sentiment surrounding a CME Gap fill at $9,600.00 USD says a correction is inevitable soon.
If that is true and the gap does not fill this week then it will likely fill some time before the end of September.
Bitcoin This Year
The year 2020 has been a testy one for Bitcoin and the beautiful cryptocurrency has held its own.
It has proven itself worth of a global pandemic that has come just in the nick of time likely saving tons of those that found it useful.
This year we have not seen the price of Bitcoin break last year's record high.
That's not a bad thing though and in Bitcoin's defense Covid-19 really made that reality a dream really quickly for us this summer.
The year is most certainly not over yet and with more months to come we are destined to see some pretty historic movements to the upside still.
Basically speaking, this year we should still be watching out for breaking last year's high.
Never rule out the potential for some downside again as we could potentially see something catastrophic.
In the event something like that happens the furthest I see it going down is $6k.
If the trend today continues then tonight could see a creeping price shift up to $10.3k possibly more.
There is a lot of selling pressure at the historic $10.3k resistance level which could signal further downside if it gets rejected more times.
It could be one more time that sends the price down or it could be several rejections.
Well it is a holiday in the US with Labor Day which makes things strange.
Between today and tomorrow the range of Bitcoin's price will likely stay volatile between $10k and $10.6k USD.
With September 15th being the day that everyone is eyeballing we will likely see the biggest price movement occur around that time.
On that note, HAPPY LABOR DAY! Thank you for laboring! 🤷♂️ Sorry it was late!
Bitcoin Next Week
Just like we went over earlier, if we do not see the CME Gap fill of $9,600 during Week 37 then next week will be the same thing.
All eyes will continue to be on the price waiting for that dang thing to be gobbled up.
Now if that gap does get filled before next week that could make next week a little more interesting.
The gap is most likely to get filled up rather quickly and not stay in the $9000's for long.
Which would mean next week could be the last chance to get in on Bitcoin while we range in the low $10,000's.
Bitcoin Next Month
The outcome of the next few weeks will greatly determine how next month plays out for Bitcoin.
Just like every month of course!
September closing low could mean October becomes a really Bullish month.
What is also strange is that if September closes high then October would still become Bullish most likely.
For October to become a month of blood, sweat, and tears we would need to see the price Bitcoin reach $12k or $13k before September 31st.
Which is possible!
But in all reality that is likely not going to happen like people thought in August last month.
Bitcoin Next Year
As 2020 continues to reach the final stretch in the coming months here.
The price for Bitcoin next year is already shaping up really REALLY nicely.
Historically Bitcoin and other similar assets perform a certain way according to what they have already done in the past.
If that holds true and when that holds true we will start to see the price of Bitcoin and other assets like Ethereum jump to values we thought were never going to be reachable.
The halving in 2020 will be full past us.
The Covid-19 situation will be mostly past us.
The US Election will be past us.
The markets will have a lot more confidence and certainty.
Additionally, the economy should be a hell of a lot better.
These things and so many other factors will lead to another era of Cryptocurrency adoption as even more new investors flood the seen who saw their friends become successful.
Next year 2021 will be an exciting time for Bitcoin and the Cryptocurrency world!
Thank you for reading!
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