I always like to tell this story about Cryptocurrency!
When internet came, many countries, organization and individual criticized the concept, others didn't want to associate their businesses with internet because they thought it will never thrive. When internet became popular and the initial investor started making millions, the Pharos and Thomas started playing catch up.
Cryptocurrency is a digital currency in which transactions are verified and records maintained by a decentralized system using cryptography, rather than by a centralized authority.
"decentralized cryptocurrencies such as bitcoin now provide an outlet for personal wealth that is beyond restriction and confiscation.
Now my short story is be about the last paragraph. BITCOIN :
In early 2017 before the Cryptocurrency boom, I was introduced into Blockchain by a friend. He has been into stock exchange for over five years without anything to show for it. I had issue with him early 2016, after he introduced me and some of my colleagues in the office to one of the ponzi network MMM that stole all our investment. So I was so careful in anything that relates to online business, I was afraid of losing my hard earned money again after the disappointment of MMM.
He told us about a new innovation on Financial market and banking industry, with his emphasis on Cryptocurrency and Bitcoin. Go and buy Bitcoin was his word, this is not like the ponzi network site that just crashed, it is totally an investment... "he reconfirmed" don't joke with this advice, or you will regret it like those that rejected internet when it first came.
The disappointment of MMM the ponzi network he introduced us to was still fresh, so we thought there was no need hidden to his advice.
2017 was the worst year of my life, I felt something was following me from village and was against my success.
In December 2016, Bitcoin was $963.74,
Which was up 123.8% for the year. And in December 2017, The closing price for Bitcoin (BTC) was $14,156.40. It was up 1,369% for the year.
1. Bitcoin (BTCUSD) price chart for 2016-2020.
2020 and early 2022 saw another rocket science of all Cryptocurrency, including Bitcoin. It made more investors millionaires more than any other investment packages, Bitcoin was at its peak $6800 on 19th April 2021, and faked another higher on 6th January 2022, trapping some new investors who don't know how Financial markets and Cryptocurrency works.
2. Bitcoin (BTC USD) price chart of 2022 high.
After the incident of 2012, 2016, 2020 and the current Bitcoin price, some analyst are predicting that Cryptocurrency - Bitcoin pumping is a seasonal trend that happens every 4 years. And investors should take a close watch at possible reversal of BTC at 15k or 10k range.
In January 2021 we published a chart on twitch, telling our followers what they should expect on Crypto (BTC.)
Our analysis shows Bitcoin will reverse around 10k price, which we still think is possible.
The resent trend of crypto since January 2023 might be seeing as BTC preparing for a new wave in the bearish momentum to the 10k price, which will be confirmed if we ever record another bottom, more than the 15k price we saw in December.
The price found a rebound on 30k resistance this month, and is now traded at 26k, we are watching the price closely to see if it will close below 25k support line to confirm our initial stand on the 10k reversal price.
For a reversal at 15k price like many analyst are predicting, we expect market to rebound around 25-20k, with a full momentum that will give us another impulse move above 30k range.
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