Bitcoin explodes, Correction imminent, Mass adoption on the way

2 nov 2017

As the segwit 2x nears the fork date of Nov 16, 2017, and BTC celebrates its 9th birthday, it has soared to all new highs on the backs of all time high in sentiment, mass media coverage and fear of missing out, but this chart shows that a deep, but healthy correction is imminent. As you can see, when the price of a Bitcoin detaches far above the charted moving averages, it's only a matter of time before it deflates back down to meet the 20 day moving average. Back in April (correction A), we were 80% above the 20 day moving average and saw a correction from 3000 to 1950, in August (correction B), we saw the price reach 50% above the 20 day moving average and a correction from 4630 to 3010, and now sitting at the top of C, we are 65% above the 20 day EMA. We are coming down, and some investors are predicting a $4500 to $5000 Bitcoin price imminently. This correction is healthy, market sentiment and exuberance move in cycles of time. It's highly suggested to sell this high and re-enter positions near the bottom of the correction, because the next target is a $10,000 BTC, and with the CME officially announcing the trading of BTC futures, Bloomberg has now declared Bitcoin a "legit" investment, CNBC calling Bitcoin the "best investment out there" we can be sure that institutional money is set to roll in. Everybody get ready, the herd is coming.