Bitcoin Price Could Drop Further In Next Few Days

The bitcoin/dollar (BTC/USD) chart is currently showing what looks like a classic bear pennant flag pattern, which could mean a further leg down in the next few days, so look out for confirmation of a breakout and potentially short the bitcoin price to profit in the short term.

My long term outlook for bitcoin however is still bullish as I believe lots of institutional investors are buying up bitcoin whilst retail investors are selling, and the approval of a Bitcoin Futures ETF product in the first quarter of 2019 could mean that billions of dollars of investments pour into bitcoin, raising the price to a predicted $40k and $65k in 2019.

NOT FINANCIAL ADVICE – PURELY MY OWN OPINION.
Don’t invest any money that you cannot afford to lose. Cryptocurrencies are speculative investments and are highly volatile.

 

About James Winsoar 107 Articles
James Winsoar has been marketing online since 1999 when he launched what was then the world's first commercial mobile phone ringtone company. He has since created several internet marketing software programs and courses. He now teaches people how to make more money in less time by leveraging the power of the Internet.

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