So Many Cup And Handle Formation For Bitcoin Indicates Bullish Momentum 🐂📈👛

The Short-term Bitcoin Cup And Handle Formation(s)

Bitcoin had been taking slow and steady gains for more than a week now and I had drawn for myself the bullish indicator of a "cup with handle" formation but setting aside that bitcoin is just gaining grounds smashing the $12,000 dollar per BTC levels to only get down to sub-ten thousand levels again indicating for one reason that some traders just wants to take profit from the said leg-up

Now Bitcoin is inching back closer to 12K levels again to just "test" that price and if it would surpass that price-point then the next target, but again we are not so sure since this is the cryptocurrency realm, and I am just speculating. would be, in my opinion the $12.5K and then it could very well shoot-up to $13,000 dollars per bitcoin depending on the news that will spread in the coming weeks and months which may or may not trigger another buying spree for new users, traders, and institutions.

For sure Bitcoin is getting scarce as time goes by not mentioning the four-yer cycle of the "Bitcoin halving" where the supply of BTC is cut by half thereby effectively making it more valuable as not much BTC to mine around anymore plus the mining hardware gets more expensive too to operate so they just have to raise the price of the so-called which ever you choose it digital currency-commodity financial instrument.

Now relative to Bitcoin's future long-term value it is still cheap right now so it is never a bad time in my opinion to buy and then store your newly bought BTC's to your BTC hardware wallet or wherever that is safe where you can store it and grab a hold later for selling based on your own interests and or wants and needs.

So it will be a bonus if some stroke of luck that the price will get so volatile that it will cause a short-term price of BTC to get down or crash momentarily and you are planning to buy then it is the golden moment to do so, that is if that will ever happen though. It is then a great time to go on your favorite exchange like Bittrex and buy there using your bank account or buy from a friend and let him/her send you the digital coins where you can hold it (with your digital or hardware or online wallet), store, trade or whichever.

Soon Bitcoin will be accepted as a mode of payment in so many kind of stores especially online even though the transaction is slow because there might come a time in the near future that it will be that people and businesses themselves might be the ones that will adjust soon to that aspect of the speed or slowness of Bitcoin transactions and not the other way around anymore, again that is just my assumption.

Disclaimer

The statements here are from the author's own opinions and not necessarily facts. Please do your own research if you want to venture in a high risk and volatile cryptocurrency markets.

Posted Using LeoFinance