Digital Currency Past Present Future - Bitcoin V-Shaped BUST&BOOM Pattern Still in Play

The bullish call I made several weeks ago and reiterated last week Bitcoin V-Shaped BUST&BOOM Pattern has not changed at least direction wise - we are still in the bullish trend.

The first 2 of the 5 wave bull climb to reach the previous ATH has been completed as shown in the diagram below. The 3rd is in the works and assuming Bitcoin stays within the V-shape recovery pattern as it did in the previous 2 corrections, then we should see a massive move upwards in the next few days, followed by another downward wave (#4) and then even massive up-wave to reach the previous $23k ATH.

source: worldcoinindex.com

As mentioned in my previous posts, the $23k is the biggest psychological barrier that bitcoin needs to cross before commencing its climb to its new ATH of between $50k and $100k. I know its a wide range but its too early to make a more accurate and shorter range. Suffice to say that the $100k is just 4 times its previous high of $23k, a feat that is easily achievable from a historical perspective. Note that bitcoin's ATH prior to reaching 23k was 5k which is more than 4 times.

The $23k psychological barrier could be a good profit play- sell at $23k and buy at the deep. I will try to measure the height of the trench as we get closure to the minor correction.

There are several threats to bitcoin's goal of hitting $100k and the greatest among those is the altcoins reaching maturity. The likes of Ethereum, Ripple, Litecoin which are 2nd generation coins and not to forget the 3rd generation in likes of Steem, NEM, EOS, NEO etc. will take center stage and canibalize bitcoin's market dominance. How fast these coins can gain mainstream adoption will dictate how high bitcoin will go up.

We will cross that bridge together when we get there.

For now, review your investment porfolio to take as much profit as you can from this bullish trend.

Disclosure: This post does not intend to provide investment advice nor does it represents that the securities or services discussed are suitable for any investor. Investors are advised not to rely on any information contained in the article in the process of making a fully informed investment decision.

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