The Bullish Rumor Mill Regarding BTC Begins

The majority of 2018 was a horror show for most of us invested into crypto. Monthly plunges in price were the norm and from the lofty heights we fell from, the bottom seemed an impossibly long way down. Hence it makes sense that this year would be a much calmer ride altogether, which so far it has certainly proved to be. BTC fell from the highs of almost $20,000 back down to $3000 so it stands to reason we've already witnessed the worse of it. Many are calling for $1,300 to be the absolute bottom and even if that proves to be true, it's only a third of a drop from where we currently are now. Mild in comparison to last year.

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But as price stabilizes, speculation grows. Tim Draper, famous for buying up a tonne of auctioned BTC, has stated that he expects a 1000x run in the crypto markets over time. Our very own CNBC's Tom Lee has adjusted his projections but sticks to a five figure BTC valuation in the near future. And Techcrunch founder Michael Arrington recently tweeted that he's never been more bullish on crypto as of right now. Big names, big words. However, the proof is always in the pudding and we all gotta ultimately see how this eventually plays out. But at the very least, I personally agree with them and see this year as a primer for the inevitable future bull run.

If we look at BTC from a technical standpoint, the picture actually looks quite rosy. Since price has hit the 200 moving average on the weekly chart, we have been nicely cushioned for some much needed support. In other words, we are getting to levels where calling for a bottom, is not simply attempting to "catch a falling knife", as the saying goes. I'd go as far as to say buying and HODLing BTC (or any other half decent crypto currency) now makes a hell of a lot of sense from these levels and dollar cost averaging your way down. People love to bitch about the volatility of the crypto markets and how sensitivity they are. But most forget we are at the birthing grounds of a revolutionary technology. A mature market we certainly are not and therefore, our median range has yet to be hit and by a very long shot at that!

As always, things take time. The experts in the field will have their opinions and sometimes it's easy to dismiss them as plain old trash talk, especially when they don't work out as expected. But this picture is looking decidedly different now. We have tangible reasons as to why the absolute "bottom" may be right around the corner, or in fact, already arrived at. Many businesses are beginning to accept crypto as a means of payment. In other words, considering these digital tokens as something of value. I feel the wheels are slowly turning again and looking back at past results, may actually end up hindering some incredible opportunities presented today. Forget 2018. It was what it was and now thankfully, can be put to one side.

2019 and onward is shaping up to be what we've all been waiting for. Let's make our sustained patience count for something.

Literally, any day now... :)

Hope you enjoyed this post, please look out for more on the way... (author: @ezzy)

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