Bitcoin is gearing up for it's next big rally
I just wanted to share this post with you to stop anyone from getting burned.
It appears that Bitcoin is gearing up to go on it's next big rally. As you can see in the picture below, we are currently on the 4th consecutive profitable day and Bitcoin is definitely gaining momentum. Bitcoin hardly ever goes 6 consecutive days of profit without a huge bull rally being triggered:
In the next chart you can see a long term snapshot of Bitcoin's growth over the last 6 months and in the top right hand corner you can see that Bitcoin is definitely starting to curve back up in value. We have seen this trend repeat over and over countless times in the last year. This sort of price action usually results in a big surge in value for Bitcoin.
The MACD is also showing signs that Bitcoin is going to rally soon. Look at the image below. If the blue line intersects the orange line we will almost definitely see a rally in Bitcoin's price.
At this point I recommend setting sensible stop losses on your Altcoins to prevent you from getting wrecked if Bitcoin does surge in value. We've seen Altcoins lose up to 90% in value in comparison to Bitcoin in a matter of days when Bitcoin starts to rally. Sensible stop losses will prevent you from losing money if Bitcoin starts to rally.
I also think this might be a good time to buy Bitcoin. This next rally could take us to $25,000 - $30,000 levels and we may never see it drop below $20,000 again for a long, long time.
Of course these things are impossible to predict and we can never be sure. But I feel it's much more likely at this point that Bitcoin rallies than it is Bitcoin continuing to go sideways or down.
Like with anything, this is just my opinion. Do your own research.
Less than 2 hours after I created this post, Nicholas Mertens at DataDash has pretty much said the same thing...
Nobody can predict what will happen in the future. But market logic points to a Bitcoin rally and if that happens Altcoins will continue to suffer.
Do your own research. Good Luck.
Thanks for the updates my man.
Carter Thomas weighs in on the state of the market.
A lot of people feel like it is inevitable that Bitcoin will rally soon, which almost always causes the value of altcoins to crash.
Don't risk getting left holding bags of coins that lose 50% - 60% in value overnight.