Price outlook on a larger time frame for BTC

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Adriaan Admin

Administrator
Staff member
Jan 30, 2018
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www.bitcoinforbeginners.io
#1
Compiling the opinion of many chart analysts, the expectations for probable price targets look as follows:

1. the first major target at the downside is 3000. Actually between 2500 and 3000 is the most optimistic bear market bottom scenario.
2. the most negative scenario is seen as roughly between 1000 and 1500, which could form the bottom. If we get that low, it probably won't be that long, because it is expected that a lot of investors will go all in, which will make the price shoot up quickly after it reaches that level; it may only be there minutes up to a few hours, before shooting back up.
3. Anything lower than 1000 for more than a considerable time, could become problematic for the future of bitcoin and might be the result of issues on the fundamental side.
4. On the upside, the first target will be between 5000-6000 to retest the previous support of 6k. Expect that price to be rejected, followed by another decline. Because support becomes resistance and 6k was incredibly strong support, now it will become strong resistance that won't be broken at the first attempt. We may have a test for 6k in the short term or after the real bottom is in (perhaps many months from now), but it is a 90% probability that 6k will be rejected more than once, before breaking through it.
5. Next big challenges on the upside would be 7500 and 10k. Even after we break 6k (which is a bullish signal from itself), expect rejection at either or both those levels resulting in so-called bull traps. breaking 10k could make us feel more confident that we may have come out of the bear market. However it doesn't look like we will be reaching even 7.5k not any time soon. So just be patient.

As we all have come to the realization that the bear market is probably here to stay for a while and we can have a realistic idea of where prices may be for the next few months (which is expected to be the very minimum, and up to about 2 years more), which is reasonably between 1-6k, then now what could you do as an investor? Well, for the vast majority of people that want to invest in bitcoin, but don't have the proper expertise in analyzing price charts, the best option would be to dollar cost average. That means every week, 2 weeks or month, at a fixed day, buy a fixed USD amount of bitcoin in small portions, let's say $50 per week. That way one can accumulate and take advantage of the lower prices as we are right now and be able to realize an optimal average price. Any price between 1000-6000 is great for the investor that has a multi year horizon for bitcoin and expect it to do well and at least reach its previous all time high.

Ofcourse it depends on anyone's personal situation if it is even a wise decision to invest in bitcoin, or how much in total as part of the portfolio. Ask for professional advice and do your own research. Most importantly, never invest more than you can afford to lose!