Bitcoin heading for $10,000. Time to buy BTC or wait for drop?

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Bitcoin (BTC) Price is currently trading at between $9,300 and $9,500 US Dollar. An increase of $1000 since the weekend started. Is Bitcoin now gaining mainstream acceptance?

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Bittrex hourly chart shows a bubble that might be about to deflate.

“Wall Street operates on a shockingly limited schedule. The markets open from 9 a.m. to 4 p.m. EST. This makes trading on the West Coast quite troublesome. Also, the stock market isn’t open on weekends, and American holidays such as thanksgiving.

“Compare that to Bitcoin, which is open 24 hours a day, seven days a week. It doesn’t care about holidays. If you want to trade during normal business hours, fine. If you want to trade in your pajamas at 3 a.m., have at it!”

The days trading on Coinbase shows a busy weekend of crypto-investment spurred on by the news that the CME Group Inc, the world’s biggest futures exchange plans to launch a futures contract for bitcoin this year.

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Coinbase as always is optimistic on the price of Bitcoin compared to Bitrex.

Bitcoin Price Prediction

In a previous post I described some of the patterns of the BTC market. I predict these will repeat themselves. Bitcoin will hit $10,000, then drop rapidly to $7,000 before recovering to $9000 and breaking $12,000 over the Christmas period.

 

2 COMMENTS

  1. Apparently, Bitcoin is now worth more than all the pound notes and coins in current circulation.

    What impact do you think Bitcoin and blockchain technology in general could have on small businesses, if any?

    • It’s early days yet. Bitcoin has a long way to go until it achieves mainstream acceptance. I think blockchain technology and especially cryptocurrencies will have the biggest impact in developing regions, areas where the national currency can’t be relied on to retain its value.

      Small business can only benefit from lower fees, lets just hope they don’t suffer at the hands of increasingly tight Bitcoin regulations.