Bitcoin & Cryptocurrency Price | Next move?

welcome back everyone and in this video we’re going to be going over what exactly is next for cryptocurrency and Bitcoin in the next few months – the next few years so getting right into it obviously today we have seen a bit of red across the board across many crypto currencies ripple is actually down double digits 12 percent in the last 24 hours but going over everything else steam seeing some hits as well the card on Oh down 9% e OS down 9% so across the board a lot of the protocols are down a pretty good amount some double digits but some just high single digits and then looking at Bitcoin obviously we can see that we are down 2.7 percent we’ll get into exactly what happened over the last 24 hours but just wanted to get give you guys a good little picture about what the market is doing right now so currently sitting at 64 30 we’ll actually see in a second or actually around 6400 right now but right around that level and looking to make another move so where exactly are we going to be making a move now the reason I wanted to make this video mainly focusing on what is next for cryptocurrency normally we do discuss specific news topics in these videos but today I really wanted to just focus on identifying where exactly is Bitcoin and cryptocurrency going in the next few months so looking at the daily here I want to point out a few different things number one we did see a break in the support level right at about 6,600 so we saw that break down below that level we obviously had had that being a resistance before until we broke up past that level and then it became a new support which we then broke through in the last 24 hours down to 6400 and now that we have seen that I want to draw your attention to some of the other indicators that we have up here we have the RSI as well as the MACD and we can clearly see now if we take a closer look at the MACD that we are currently dealing with a reversal in the momentum we were seeing some positive momentum for Bitcoin unfortunately we are starting to see a curve down on the and possible sell-off even further sell-off for Bitcoin and you know other altcoins as well we’ll have to see but overall we are seeing some more negative tones for Bitcoin in the longer term however jumping into the four-hour we actually are seeing some positive things so clearly we can see the MACD showing some good a momentum building up towards the buyers side starting to see less and less sell-off so hopefully in the short term we can get a bit of a bounce possibly back up to 6,600 test that level and if we can break it great if not then obviously most likely we’ll continue towards the downside so where do I see cryptocurrency and Bitcoin going in the next few months well to ansel the answer the question you know simply I think we most likely are going to be seeing higher levels and let me tell you why first off we have seen a bounce off of the same exact support level what four or five times down then in the last six to nine months and now that we are getting to the end of this pennant that we’ve been in for a while I do think that with the current market conditions we should see some sort of higher levels now obviously we are in a bit of a channel currently rising up towards the upside so we’ll see how that plays out and with the next day or so but overall long-term like I said with the daily I do think since we have seen that the momentum most likely is going to can continue to carry towards the downside on the daily we could see another bounce off 6,000 5700 but most likely I don’t believe that we will bounce below that area now the reason I don’t really see us going below that level is a few different reasons that we’ll get into it in a second but the the major thing is that the amount of times that we’ve bounced off of that level as well as the fundamentals of the market if you guys don’t know recently we got the decision about the ETF that it would be delayed and the rest of the market honestly looks good I don’t really think there’s a real reason to see prices plummet even further but then again there’s no real reason to see price prices go even more to the upside so overall I do believe we we’ll see higher prices over the next few months to a year but I don’t think that the those prices are going to be $20,000 again I think it’s gonna be more of a steady rise so getting into some of the new stories that I wanted to go over today now that correlate to what bitcoin is doing I wanted to first cover the bearish cross hints at more losses ahead for Bitcoin price now this is basically just an overview of the technical analysis that we just went over so I just want to touch on some of the key points first off bitcoins drop below 6600 yesterday which we already talked about has neutralized the immediate bullish outlook a downside break of the pennant pattern in the daily chart would open doors for a retest of the June low of 5755 like we just said and the bearish crossover between the 5 months and 10 month EMAS indicate that bitcoin is more likely to find acceptance below the pen and support currently located at 6 – 6 5 so overall I really don’t see a reason even with a long-term 5 month 10 month EMA break towards the downside I still don’t see a reason to believe that we will drop even further below the levels that were already at but a few things that I could see pushing the price down even further are right here so first off mount GOx Trustee publishes final Bitcoin sell-off figures totaling 230 million dollars so the trustee of defunct crypto currency exchange mount GOx released a statement Tuesday September 25th according to the document has liquidated almost 26 billion yen 230 million in Bitcoin and Bitcoin cash in around 4 months so he is known as the Tokyo whale due to the multiple rounds of Crooker currency sell-off he has undertaken on behalf of mount cox since q3 2017 stated that he had sold 24,000 bitcoin and 25,000 bitcoin cash the transactions occurred during the period from the tenth creditors meeting in the bankruptcy proceedings to the commencement of civil rehabilitation proceedings the statement confirms so in late June Japanese courts approved a petition for the exchange to begin civil rehabilitation which had the knock off effect of repaying creditors in Bitcoin and the Bitcoin sell-off so a good thing to look at first off the reason why I don’t really see any further sell-off below the levels that were already at I think a large part of why we’ve seen these large swings is because of those large sell offs Mount Agung did sell off a lot of Bitcoin which could have not caused the entire range of these sell offs but at least started them and started to push the prices down each time so I think those sell offs were obviously a factor on why we’re seeing such large volatility but even further I don’t see any more reasons why we would have further sell-off first off they’re obviously saying that they finish selling it off so we can no longer worry about that so really why would we have a break below 6,000 5,700 I think now it’s time to focus on where we at with the fundamentals of the market which I now want to get into a little bit more with not only ripple but some other stories as well so adoption to FOMO reasons behind ripple sleep so I’m not going to read this whole thing but basically it talks about actual adoption of ripple with X Rapids launch PNC joining ripple net ripples dodging the security label which is obviously good similar to a theorem as well so this is just a few things but mainly X rapid as well as PNC joining ripple net so two reasons for actual adoption of a cryptocurrency a high market cap cryptocurrency obviously ripple to show you guys that the market is seeing a better look fundamentally than it has been in recent times and then lastly I just wanted to touch on JP Morgan actually is expanding its blockchain payments trials so JP Morgan along with 75 other banks are looking to basically use blockchain payments and see how they work so a major blockchain payments trial launched by JP Morgan Australia’s ANZ and the Royal Bank of Canada has just gained over 75 new banks as participants as reported by coin desk the three banks set up the project into October 2017 aiming to slash both the time and cost acquired four interbank payments using traditional methods so this just basically goes into how they’re planning on using some blockchain technology to be able to increase the speed at which they do payments inter banking payments with their actual servers so this again drives even more of an argument for we’re starting to see real adoption of this technology and the market can definitely start to see an overall positive turnaround over the next few months to next few years so I wanted to make this video guys again to address the fact that I don’t see a real reason why we would drop any further okay all time high or not all time high from the all-time high for aetherium at least we’ve seen a drop of about eighty seven percent from its all-time high that is an incredible job and I really don’t see a situation where we could drop much further I think the prices that we’re seeing now are stabilized prices I think they deserve the price that they’re at and I really don’t see a situation where we would see prices much below where we’re at now for the reasons that I previously stated but also the markets starting to change guys I obviously want to get your opinion so leave your thoughts down in the comment section but overall the fundamentals of cryptocurrency have started to change and we’re really starting to see a more positive tone when it comes to actual adoption of this technology rather compared to just hype and overall exuberance of the markets which really cannot boost anything anymore I mean it’s not 2017 anymore we’re gonna need something real to boost these markets up and at least continue the growth and I think that is going to come down to adoption as well as more investor capital so that will come to you know the ECF and also if we do get aetherium futures towards the end of this year or possibly in 2019 so that is all I wanted to cover for today guys let me know your thoughts in the description where do you see Bitcoin going in the next few months where do you see cryptocurrency going I want to get you guys’s thoughts now because I obviously think it’s pretty big topic that everybody is always wondering about but for me of course I focused more on day trading and swing trading and if you guys want to get involved in that you guys know what to check out we have links in the description for all that go ahead and check that out but yeah I wanted to get your opinion on what you guys think is going to be happening with the cryptocurrency markets over the next few months now that we really don’t have anything specific to look forward to I know the etf was a big thing for a while but now that it’s gotten delayed I think the market is more so just up to investors and let the people decide so I want to get your guy’s opinion so let me know in the comments and thank you guys for watching I’ll see you tomorrow with another video have a goin guys you

One thought on “Bitcoin & Cryptocurrency Price | Next move?”

  1. Вce чeтко и глaвнoe по дeлу.. За чтo aвтоpу канала спacибo oгрoмнoe!!

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