Joseph Yap Boring Investor

Why I believe Bitcoin could hit $8000 before 2018

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Today the largest options and futures exchange based in Chicago, CME Group made an announcement of launching Bitcoin Futures, right after the announcement Bitcoin get a boost to set a new all-time high $6420 on Bitstamp, less than 48hours before the 6318 all-time high.

technical analysis

We’re now clearly in an upward trend, and if we could stay within the channel it’s likely to see $7200 happen before December this year. The only thing that we should pay attention would be the upcoming SegWit2X fork, which will take place in the next 15 days (SegWit2X countdown). At this moment it’s hard to conclude whether the fork will have any impact on the price of Bitcoin, but nevertheless, it does put most traders and investor in the midst of uncertainty.

bitcoin investment accessibility

From the past few months till today, we can almost see news about large finance firms or corporations comment and participate in cryptocurrencies. A few crypto-ETFs listing attempt, although SEC rejected it, they also express that more assessment will be done. So I’m more optimist and believe that we’ll soon see more firms like Grayscale (Bitcoin Investment Trust) making cryptocurrencies investment accessible for the non-tech savvy general investors.

 

Disclaimer:
Please do not take my advice to invest or trade, do your own due-diligence before making any financial move.

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Joseph Yap

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By Joseph Yap
Joseph Yap Boring Investor
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