Less than 10 days ago I posted a blog with a chart about the Monthly view on Bitcoin
I still believe what i saw and what i can see still now and i strongly suggest you, reader, to look again at old chart and at this new one.
Here you can read that article again, this time with the updated Monthly chart.
Than think about......
Old article:
In the chart belove you can see Bitcoin's monthly chart.
It is very easy to understand that the price is nearly $ 50,000 , too high.
But why the rate is so high?
Because there are a lots of buyer with money.
Is it going to go even higher?
Maybe yes.
If we talk about the short term analisys, well if you are able to spot a lower price you can still benefit of this uptrend.
But if you think to make money for the long term, please give a favor to yourself:
DON'T BUY IT.
In this chart you see that while the rate is very very high, the moving average ( set at 20 ) is very low and a price so far away from the moving average will , sooner or later, go back to the moving average again.
This will happen when there are no more money to be used to buy Bitcoin, and this can happen if the Federal Reserve (FED) will highering the rate : means that will cost more to have money lended.
No money, no party !!!
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