This chart shows the value of the entire cryptocurrency market over the past 6 years.
Looks to me like we're about done this secondary bear market, which would mean consolidating under the 14k level (next few weeks), then breaking through for the move to 20k. When that breaks, possibly at Christmas (always a key point for crypto prices), I think we'll see a frantic bull run for several months, reaching close to $100,000 for Bitcoin sometime in 2020.
This is all playing out exactly as anticipated since mid-2018.
There's Bitcoin in USD over the past 4 years. I've marked the corresponding point during the previous bull run.
I think there could be a slight correction in the next couple weeks, which might be the last opportunity to buy in the 4-digits. Either way, I'm bullish on the rest of the year, and VERY bullish for 2020. Right now might be a really good buy-in point for people looking to hold cryptos for a few years.
This is not relationship or investment advice.
DRutter
