BITCOIN price movement has so far seen most of my forecasted price range of:
-Minimum Lows of 2100, achieved
-Minimum Highs of 2500-2700 achieved
But have yet to see the:
-Maximum lows of 2000
-Maximum highs of 2750
Could still see fruition as per the current price movements is indicative of a potential Churn Effect(All within the price forecast for 144hrs)
All factors affecting the Bitcoin movements included are:
- SEGWIT
- bip148
- Global demand/availability
- Global political and social economic growth/crisis factors
- Exchange's capacity/capabilities to meet/service the needs
Fear Of Missing Out (FOMO) & The gaining interest by both Major League Financial Corporate Establishment Controllers, as well as Gubrements seems to likely be the main reason for this unique circumstances.
I strongly foresee that the amounts of physical Fiat being exchanged into the Cryptoverse and being ended up in the Exchanges by the major institutional investors/to be the ***"snowflake that causes the avalanche" (both to the up/down side) to occur. As normal "average Joes and Janes" only have "X" amount of fiat to facilitate the conversions to "Play" and reap the higher returns of this New Transfer of Wealth asset game.
***Highly recommend that one puts in a steep measure of patience and prudence whilst considering the fact that this "is" a waiting game as a long term re-investment & NOT A GET RICH QUICK scheme
watch this space for further developments
preacherofstorms
Bitcoin found strong resistance levels at 3,000 which was to be expected. Based on historical trends, it should gradually move towards that price and then once it breaks through that resistance level pick up its pace towards the next resistance level. It is certainly starting to lose steam however as Ethereum gains ground on its market cap. The general trend of a pull back and then moving towards new highs may stop for Bitcoin once Ethereum takes over market cap and other altcoins begin to develop.
The Free Market system understanding of this asset class is critical...but as per-mentioned above, there are 2 main factors that could potentially hit and ruin the genuine price discovery. #Ethereum is an entirely different Beast by nature and capabilites.
I completely agree with you that the $3,000 level is a psychological resistance level that needs to be overcome. The question is what is the next resistance level? I guess it will be the next round number at $4,000.
The next price movement upwards will only begin by mid July and most likely to breach the $5250 price point.