BITCOIN FOLLOWING HISTORICAL TREND
Bitcoin recently got cheaper and has a little more volume. Why should from now on pass the 6000s when before it didn't?
For Bitcoin to make new highs it needs much more volume and strength. Last bear market Bitcoin only recovered after almost one year of sideways movement next to the bottom.
This pump is giving hope to lots of bulls. But, if the price falls, their hopes will be crushed again with a more severe capitulation.
Highest probability is that the sellers that didn't sell yet, because the dump caught them of guard, will sell at the levels between 5k and 6k. Also, with all the new buyers that jumped in on this pump, the price will cascade down, with everyone selling in panic.
Bitcoin will bottom and capitulate on the 2.4k or lower and pump fast up to the 3000s and stay in those levels next year, never going back to the 2.4k ever again, reaching only new highs in 2020.
But, does this mean we'll see 2019 as level and then movement in 2020?
I suppose, in the year of 2019 bitcoin will have ups and downs, but no moons for Bitcoin. It will start to go up gradually. Higher lows. I see it probably next Christmas breaking the 6k and staying on the up path until 2020 when it moons in Q3