Who is bullish on BTC and ETH cryptos ? It is looking for me now that they will start in the next days a run to new alltimehighs in the next few months. But I have no idea how far this bull run can go, maybe $200k for Bitcoin ? Just recently joined and now the actual consolidation should end in the next days, meaning the prior upmove should be continued. This looks also so dynamic, this is a rare opportunity in a few years, it looks like to me. Anyone else want to comment ? I also expect a large decline of the US Dollar, which should help Bitcoin and Ethereum. EURUSD forecast is 1.20 within next 12 months for me and USDJPY should go down to 125 at least or maybe 120. My opinion based on the interest rate policies. https://etfdb.com/etfs/currency/cry...ssets_under_management&sort_order=desc&page=1
USDJPY was strong all year till this past month or so, same as Bitcoin so why would you be thinking if UJ were to weaken it would help Bitcoin?
Look at my posts. This has been called since last summer. If not earlier, yes all time highs the extension probably brings it to 160k. I don't know do it on the chart... Not going to happen until this correction is finished which could take a while depending. Rare opportunity? You're late to the party.
That is what I wanted to hear. You can still buy a lot more Bitcoins. Because if you ever believed it will move to $160k (maybe soon), then you would go all in, maybe also with leverage so 200%. It does not matter if you enter at $30k or $40k if Bitcoin goes well above $150k or even $100k. Also you forget the time being invested in. If you miss a lot of other opportunities elsewhere because Bitcoin is not moving for some months, then this is also a big loss for a trader.
All the prior upmoves has been done very quickly. So if Bitcoing does not go up for more than 3 months it lost already much of its momentum, so better to stay out then. That is for me. I mean if you just buyandhold you would be kind of stupid taking -80% drawdowns in between. No trader would accept this.
Most hodlrs have been "all in" for years. Anyway, at this point your multiple sucks unless you are playing with huge money. You could buy a whole bitcoin now and make 60k sure, but if you had bought back at 16K you could have 3 bitcoins...if you bought back when it was 3k you would have 20 bitcoin that's my point. Sure you could leverage up but now you are taking on added risk and would probably get liquidated because bitcoin has huge swings on run ups. You are the one saying it will go up to 200k. Sure it could but look at the chart and figure out the measured move and compare to previous runups. Bitcoin has drawn down 80% after the the 2 most recent runups, so you could probably conclude the bottom is in at 16k. We could see sideways movements for months here before any action. The answer to all your questions are in the chart not in a forum. P.S who gives an f about capital efficiency when it comes to bitcoin...do you have any other investments that can return 1000%?
Yeah I am taking more leverage with foreign capital for free from retail props. You can also join a retail FX prop for lot more buying power to buy Bitcoin as I do. That way I can profit much more than you said.
BTC went to ATH, align with the S&P making new ATH, at the crazy corona hype, while GOV printed $$... BTC is about 90% correlated with S&P500 these days. What makes you think or feel a new ATH is in for BTC, but not for SPX?
I am also bullish on SPX. SPX is at least 20% undervalued, because of big rate cuts within the next 18 months. So I am expecting within 12 months 6000 level for SPX. So if the correlation holds up, which should, then BTC should also make new ATHs.