Bitcoin Price Forecast 10/10/2017
What the hell is a Bitcoin? And why is it so valuable?!?! Current MC: $152.55B (+$9.15B in 5 days) Bitcoin Dominance 52.1% HIGH AS $#%&!!!
I know it's been a few days since I made a Bitcoin forecast but the past week has been extremely busy for me. Between working and writing constantly I have kind of burned myself out. I even took tomorrow off so I can relax and rest up... In the meantime I will leave my followers with a decent report of what has been going on in the Bitcoin world.
Currently the alt-coin markets have been suffering and most investors have been left wondering what happened. As we enter another period of uncertainty and Bitcoin forks we have seen a dramatic shift from alt-coins back into Bitcoin. Many people are anticipating a repeat of what happened during the last split. In my opinion this has caused a premature sell off back into Bitcoin which will inevitably end in a sharper correction for Bitcoin prices after the next substantial run up. If we end up going up to around $7,000 we could drop back down to $4,200 or so during a major correction.
In today's chart you will see that we are oversold and due for another jump in price. Right now we have hit the moving average which is a good sign during a bull run and we are going to see another price jump very soon!
There is going to be extremely strong support around $4550-4650 in the short term but I highly doubt we will be seeing those price until we breach $5K again. The next bull run seems to be setting up right now as we enter the next Bitcoin split due to hard-forking.
Likely Scenarios:
- BTC prices hold strong above the mid $4K range as we approach the likely hard-forks
- BTC prices jump to the $4850-4950 range until we get more momentum to break all time highs
- Massive volumes push above all-time highs tomorrow and we see prices around $5250+
TLDR Version:
Bitcoin is going to see another bull run coming up as we enter another hard-fork. People are anticipating a nice little bonus just for holding Bitcoin. Price will hold above the mid $4500 range until we break $5K and above. The next target is $7K before a major correction back down.
Price Target:
$5150
Alt-coins To Watch:
- DASH
- LTC
- XMR
- IOTA
- NEO
- STEEM
- ZEC
- OMG
- PAY
Alt-coins Pumping:
- BQX
- NAV
- ARK
- ARDR
- SYS
- HSR
Alt-Coins Dumping (ALL OF THEM!!!! JK)-
- BTS
- MDA
- XLM
- IOC
- BTM
- KIN
*Never invest more than you are willing to lose and always do your own research before making any investment decisions.
(All pictures are free domain images from snappygoat.com or created by myself.)
Thanks for sharing your forecast with us.. I'm myself not into investing for now, still learning the whole thing, but yes this certainly helps.
You should be putting as much money as possible into different investments. If you aren't convinced that crypto is a good investment then consider precious metals such as silver and gold. I prefer silver of course :)
Well, to be honest, I wasn't too aware about the whole cryptocurrency thing until I was introduced to Steemit by a friend. But I am learning day by day, reading all the informative content that is out there, so yes I will get there soon :)
And currently, I am working on some plans as far as investments are concerned here in the local market (Pakistan). The economy is always unstable here, so yes, need to do a lot of homework before I take a step. But thanks for the info! :)
Ah another fork coming! I was curious what was behind the recent rally in Bitcoin. I would not be surprised to see BTC hit $6,000 or higher by the end of the year.
Bitcoin is going to continue to fork many more times as the software upgrades keep happening. Each resulting fork will become less and less valuable. Also the impact of the resulting forks will dramatically reduce the prior forked coins prices such as Bitcoin Cash and the upcoming "Bitcoin Gold" then the SegWit2X fork...
nice informaton. It's useful. Thanks for sharing
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