Bitcoin is ready to recover 60% for the first time in two years
In 2014, I warned you about a crash in Bitcoin. Which it did. It plummeted from $800 all the way down to $200.
I told you that I didn't like Bitcoin and that it was on a one way path to destruction.
But over the last two years, things have changed.
Bitcoin is becoming more and more popular as people are relying more on non-governmental influenced currencies.
And now with the downside out the way, Bitcoin looks like it's going back to $800.
Here's how you can take a chunk from that 60% upside to come.
This huge rounding bottom tells me Bitcoin is set to recover 60% from here
There are two levels with the rounding bottom, you should take note of.
The top price of the rounding bottom is at $500 per Bitcoin.
And the bottom price of the rounding bottom is at $200 per Bitcoin.
You’ll clearly see these two levels in the above chart.
Over the last two years, we’ve seen Bitcoin trade (buy and sell) between these two levels.
And this is what’s caused the rounding bottom to form.
At the moment, Bitcoin is trading around the top price of the rounding bottom at $500 once again.
This means, momentum of the formation is showing upside to come. Which should trigger its next wave up.
So how do we calculate Bitcoin’s next target, using the rounding bottom?
Easy, all you do is follow this calculation.
Target=(Top price– Bottom price) + Top price
=($500 - $200) + $500
This means, Bitcoins next target is set to go to $800, thanks to a rounding bottom formation.
And this confirms with the stronger uptrend to come.
So how do you get started buying Bitcoin?
You can look at buying Bitcoin through BitX South Africa, Coinbase.com or even Blockchain.info.
But if you really want to know the step-by-step guide on how to get your hands on Bitcoin, click here for more information.
“Wisdom yields Wealth”