Is 3000 the new 6000 for Bitcoin?

From June 2018 until November 2018, the Bitcoin prices moved around the 6000 Dollar price. It never really want beneath it, but sometimes it made bumps towards 7000 USD, but in general, it resided safely and quietly between 6000 and 7000 USD.

Then came the Bitcoin Cash fork, and following that (the two incidents might be connected, but most people consider them to have nothing to do with one another at all) the Bitcoin price made a giant move for the first time in almost half a year – downards!

The Bitcoin priced moved down towards the 3000 level, and has been there ever since then. It has made a few attempts above 4000 USD, but the 4400 USD seems to be a resistance level it isn’t able to break. And when it fails to break the resistance, it bumps down to the 3000 level again. And yes, here we are today!

Weekly levels showing the Bitcoin price
Weekly levels showing the Bitcoin price

For how long will we stay at these levels?

That is very hard to say, but what will become interesting is to see whether or not news about Bakkt or positive news about an ETF will be able to push the price upwards again and beat some of those hard to break resistance levels on the way? The cryptocurrency community has been waiting for news about the Bakkt launch and for the SEC to accept one or several ETF proposals, but so far, it is just waiting.

But, will an eventual ETF approval or the Bakkt launch create a giant price increase and an increase in volume like the cryptocurrency enthusiasts hope for?

Do you have any good investment advices as of February 2019?

I have no good advice at all. Maybe the safest is to watch from the sideline. But, if I had to say something, I would wait for the Bitcoin price to drop towards 3000-3300 USD. If you have any money to invest, that might be a good level, and then you can sell it whenever you feel like afterward. I would probably go safe and sell it after a 10% increase, or you can just hodl and hodl and hodl for as you as you want to.

If you want to invest in something else than Bitcoin, I would still buy Bitcoin at the given level, and then buy one of the following cryptocurrencies at the given levels.

  • Pundi X (12-13-14 Sats)
  • Vechain (102-103 Sats)
  • Polymath (2400 Sats)
  • Ontology (1500 Sats)
  • Steem (750 Sats)

These are all cryptocurrencies that normally receive a nice boost whenever the markets move in a positive way, and especially Pundi X seems to be a great investment for the future. Steem might be a good short-term investment due to their upcoming hard-fork in March.

Which are your favorite cryptocurrencies? Which do you believe will receive giant boosts whenever something will happen for real in the market? Or maybe you know of some hidden gems that will explode even if the market stands still?

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