PUPPET MASTER: Bitcoin’s Bottom Damn CLOSE!
This price, $6,500, marks a significant psychological barrier for investors.
Check this out:
As you can see, the price action has not been volatile at all for the past 120 days.
When any asset trades in a tight range for a long time, it always breaks the pattern by shooting up or DOWN, by the extent of the range breadth.
Bitcoin has a $4,000 trading range, so when it breaks out, it will either go past $10,000 once more, or it will crash back down to a $2,500 price, which will be detrimental for the sector’s future.
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The puppet masters, the regulatory bodies, still control the fate of the mass-adoption theme.
Regarding mining costs, though, most countries, where mining occurs, can’t profitably secure the blockchain for much less than today’s price.
What we want to see, then, is the upcoming ETF decision, set for the end of October, paving the way for more players to come into the space.
As we keep stating, the technology is the main asset here. By owning Bitcoins, you own a stake in an important infrastructure.
For the rest of the altcoins, you’d have to go case by case and understand their worth.
In 2018, Pure Blockchain Wealth created a watch list of promising projects: Funfair, Aragon, Cindicator, Dragonchain, and Ethereum.
We’re currently looking at two, additional projects, which possess huge potential.
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This work is based on SEC filings, current events, interviews, corporate press releases and what we’ve learned as financial journalists. It may contain errors and you shouldn’t make any investment decision based solely on what you read here. It’s your money and your responsibility. The information herein is not intended to be personal legal or investment advice and may not be appropriate or applicable for all readers. If personal advice is needed, the services of a qualified legal, investment or tax professional should be sought.