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Bitcoin pauses ready for another drop

(Chart courtesy of tradingview.com)

Well, it looks like Bitcoin has paused before another drop like it did in 2016. There is talk about some major players getting into the currency right now – I’m hoping they are not pumping and dumping (this is where someone pumps funds into an asset and then rides as everyone joins in then dumps the funds very quickly). But it does look like a steady climb that could push us back to pre-Christmas prices – or even higher.

Really we need to see it break above the high of 1300% from just before Christmas to confirm that this is, in fact, the rally we are all waiting for. But from a fundamental (news) based view things are looking positive.

  • Traders are coming back online
  • Peter Thiel’s Founders Fund – responsible for Paypal and some other home names have made a massive investment in Bitcoin

Technically it could be a head and shoulders reversal forming, but that is something that’s applied to fiat currencies and this instance the price fo 750% held well.

Buy and hold people, buy and hold but not till after the 15th Jan.

(please note this article is for educational purposes only, everything you do is at your OWN risk, take responsibility for your own actions, I might be wrong).

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