Bitcoin investor: we will never see $ 10K again after the next low cycle
After a powerful parabolic rally in the second quarter of 2019, the price of Bitcoin is struggling to maintain the bullish momentum that the crypto asset once had behind and is currently consolidating into a tighter triangle formation.
After repeated attempts by the bulls to bring the price for BTC to new highs, the market has become bearish and expects a low cycle to be established in which the purchase interest returns significantly. But after that low cycle is established, a leading Bitcoin investor believes that after the price of Bitcoin exceeds $ 10,000, it will be the last time that price is seen.
Broken record: “The price of Bitcoin will never trade below five digits.”
It has been said many times in the past, both during this recent bullish rally and at the beginning of 2018, when Bitcoin briefly appeared above the important price level before spending the rest of the year below it: “Bitcoin will never quote again below $ 10,000 anymore. “
But this time it could really be different, according to prominent Bitcoin investor, trader and entrepreneur, Bob Loukas.
Loukas, who focuses his trade on capitalizing on market cycles, expects the price of Bitcoin to reach a low cycle next October, before shooting again and never looking back. And after the low cycle has been swept, Loukas says there is a high probability that Bitcoin will never be traded again at prices of around $ 10,000.
This time it will be different?
Everything comes in cycles, and history often repeats itself. But when it comes to analysts who claim that once the price of Bitcoin exceeds $ 10,000 again, four-digit prices will become a thing of the past, this time it can be really different.
Following the V-shaped background in February 2018, in the crypto community he made the comment, without suspecting that a bear market would come that soon happened, making them eat those words.
Then, the same phrase has been mentioned again and again along each peak of the current triangle consolidation pattern, the price of Bitcoin is locked, and is happening once again for Loukas’ latest tweet.
However, if $ 10,000 fails as support in the coming days, and new cycle lows are reached, they are likely to be bought fiercely and backed up with long-term moving averages, confirming the bull market and making the price Bitcoin increase yet again.
After a break above the current trading range where consolidation is taking place, the Bitcoin price would realistically take its historical high of $ 20,000. If history really repeats itself and markets really change, after the undisputed king of cryptography exceeds its previous historical maximum, it rarely falls below it.
And if $ 20,000 becomes the new flat for the price of Bitcoin, prices around $ 10,000 or less will never happen again.
Bitcoin is approaching stable prices, then the chances of starting a new cycle at high prices are at the door of happening, investors can read between the lines the events that happen in the traditional financial industry, of course the possibilities are given so that each Investor make the right decision, therefore, it is important not to risk scarce financial resources, after taking surpluses, you can make the investment without compromising the quality of life of the user. Waiting for new announcements
Disclaimer: This press release is for informational purposes information does not constitute investment advice or an offer to invest. The views expressed in this article are those of the author and do not necessarily represent the views of infocoin, and should not be attributed to, Infocoin.