When will Bitcoin hit 14 thousand dollars for 1 Bitcoin
Clearly. Now I'm going to rehash some old ground for many of you. So please bear with me. I hopefully you want to hear some of this again. But if you do recall the first video came out in December, right before the final decline. Um, the coal there was that we are now, we were heading into the very final stages of a four year cycle. Um, and the decline in Bamaga here from the 2017 top was coming to an end that we were in the final capitulation level and the call essentially was that yes, we may not be at the absolute lows in December, but we're getting very close and from a price perspective, I think the price at the time was 3,700 from a price perspective. There really wasn't any, any reason at that point to try and get a lower price. The goal there was to get your position before the market turned and got away from you quickly.
Bitcoin has retraced more than 40 percent, and it can go lower, but it is the best time to buy it if you have missed the chance to buy Bitcoin on a low 3k.
I've tried to group many of the questions from Twitter and YouTube together into like-mind the topics. I'm going to try and cover as much of that as possible for you today here in this video. I know there's a lot going on, a lot of significant price action on the downside of late and I'm going to cover a lot of that here today as well. Before I do that though, let me quickly go over to some housekeeping items, which I think is essential, and I'll try and get through this fairly quickly. Just the typical standard disclaimer that I'm not a financial advisor, I'm not a registered advisor, and none of this is, you know, financial advice to you.
Possible that altcoins will crash further as this downtrend is not over yet, but: what altcoin to buy? When to purchase altcoins? Will there be any altcoin season at all?
Now it is a very exciting time right now for crypto. Let me explain why other than Bitcoin, which has been consolidating for the last few months, the other crypto markets have actually been, as you can see here, they've actually been in downtrends so a lot of the cryptocurrencies like XRP Light, coin dash and so on have been in major downtrends and um, and just take a look for example XRP here, which has actually gone down from the 50 level now to the 25 level, almost a 50% drop in the last few months. Light coin as well has been a downtrend dash, which is one of my favorite cryptos is also now in a down trend at the moment. And here's the thing guys, and as I'm sure you'll probably agree, this is very exciting because I think we could be getting close to another great buying opportunity on crypto very soon. In the last few days I've actually opened a few more cryptocurrency accounts with some other cryptocurrency exchanges like Coinbase, Cracken bit stamp obviously.
Let's talk about the path to 200,000 bitcoin. Uh, I don't want to spend too much time going over why I believe we're getting go to 200,000 and this cycle or possibly above that.
That is clearly covered in the four year cycle videos that I just mentioned before. Again, if you, uh, need to know, want to know why cover, go over those videos again and you'd get a fairly good sense in an idea for, for my views on that. But very quickly, the four year cycle spans a price action from one major load to the next major low. And I have it mocked starting back in the 2011 timeframe because that is essentially when people would began to transact in bitcoin and we had some true price discovery. We did not have true price discovery in 2010 as evidenced by the 10,000 Bitcoin for pizza, for example.
Will Bitcoin retrace more, or is it the end of correction? When to buy Bitcoin if I want to catch the lowest point?
It's been about three weeks since my last video and a lot has happened since then. I've, I mean bitcoin managed to get almost all the way up to a very surprising at least uprising for this early on in the four year journey up to almost 14,000 I think once it hit a that 1213 then up to forwards 14,000 we really started to have a for the first time kind of a bit of Fomo across the board. I think for the first time also we had some retail and by retail I mean just everyday folks, right? Many of you as well kind of get concerned or jump right in thinking that they had missed the opportunity and really threw in the towel and started buying bitcoin here and a little more size and a little more leverage. And whenever that happens, of course we know that the move when you sort of move, whether it's a short term, intermediate term, we've been longterm move is probably more towards the tail end of the move.
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