I see Bitcoin is starting to creep back into the 725 range which is normal before a rally. If you have been following my posts you will notice almost every time Bitcoin price rallies higher, it first falls back. I believe that the new low for Bitcoin is above 715 which means in my opinion that BTC will not drop below 715 again. Bitcoin has many old lows i have been keeping track. If i am correct this means that Bitcoin is about to find a new low of 750 or 775 in the next 3 weeks.
Lets take a look at the chart and see what it shows for the last 24 hours.
As you can see above The digital giant is showing slight uptrend. We are coming off of a sharp fall from 750 to 730 but something tells me this is just the calm before the storm. What could spark the next rally? As we know India has been coming on board in a big way They could be the deciding factor in BTC rising up passed 800. What makes me say this? Indian bitcoin exchange Unocoin has launched a new mobile wallet app. So many people use their mobile phones on a daily basis in India and all over the world and that number is expected to double in 2 years! This means more wallets and more users translating into higher Bitcoin pricing.
Would now be a good time to invest into Bitcoin? I would say if you can get it under 730 yes buy BTC before December rolls in because it could be a BIG month for the digital gold. If you are looking for a longer term investment and have alot of money now is the time to buy BTC 2017 will be the biggest year for Bitcoin that we have ever seen. Please remember to use my post only as a guide to make smart investments. You hold all responsibility for what you do with your money, and i cant be held responsible for any losses.
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