AncientTrader

BTC (BTCUSD) - Up or down ?

BITFINEX:BTCUSD   Bitcoin / Dollar
I'm not going into TA here and focus on Fundamental aspects

On Fundamental perspective, listed few items for both Bullish and Bearish scenarios for BitCoin             . You may add your perspective on Bitcoin             future in comments section. Thank you.

Bullish Scenario:

Robinhood Trading app has 1,000,000+ new members in crypto waitlist(just from 5 US states). And more trading exchanges and apps to follow. (Bittrex has stopped registration as it couldn't support the flux of new users with its present infrastructure. Millions of new members are flooding into the market)
South Korea's positive government regulations
Japanese companies integrating Bitcoin             payment systems.
Transaction fees down & Transaction speed quicker(Segwit)
BTC             has seen crashes upto 50% in January every year from 2014.
Bittrex's is working on adding USD in place of tether
More institutional investment is started coming
As per one study, only 2% of the population has invested in crypto, compared to up to 40% in stock market(in different securities/instruments). -
- This gap may go down slowly over the years.
Beginning of political acceptance(ex: Russia, Belarus, South Korea, Venezuela etc)

Bearish Scenario:


Main stream media stories that Bubble is popped
Futures market is double edged sword
Tether Subpoena
Governments confusion on Crypto regulations
China's hard stance against Cryptos


i observe, this week 10k is a strong support and it was retested for several attempts since 2nd week of january 2018..who knows how long it will hold its position..battle between bulls and bears..people are buying at 10k as of this time..what will happen next week is a bit suspense..haha good luck..happy trading
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