Bitcoin is Ready to Turn 20k & What I see Happening Next

Bitcoin is getting ready to test the 20k mark.

The negative press, the rise of Altcoins such as Ripple have left Bitcoin consolidating lately.

Those factors have many saying Bitcoin is dead. But those that have time frames longer than it takes to read a meme have used this to accumulate more Bitcoin.

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At the time of this writing, Bitcoin is trading at just under $17,000 USD.

I think $20k is in the cards short term.

Bitcoin over $16k marks a 2-week breakout which to some is years in Cybercurrency time.

Bitcoin was due a much-needed rest.

For traders looking a decent swing trade, you might consider taking a look here at the $17k area with a stop of your choosing.

This trade is only valid for me if we can hold above the $16k-16500 area with conviction. If we see this area become a new range the trade becomes very valid.

I wouldn’t think of a stop of less than $1000 but to each his own.

What I See Happening Next

I think Ripple’s management has a few good press releases sitting on G waiting on O.

See Why is Ripple Going Up

They do not want to lose this price momentum. The positive press has helped in fueling this coins parabolic rise.

This team is smart and they know how to play the press in their favor.

For Bitcoin, if it holds the 16k area and gets to the 20k mark as I think it will, I think you will see panic buying like we haven’t seen before.

The number of people who will experience FOMO (Fear of missing out) will be incredible.

This will cause the panic buying.

For now, I think Bitcoin and Ripple are the coins to own.

Ripple was great with our first buy at .18 cents. We ended up with almost 9000 XRP and got very lucky liquidating the majority at .0002136 Bitcoin.

We turned a less than 2k USD investment into 20k USD or 1.2 Bitcoins.