Bitcoin price is very low whether it will last long

I agree, that the price will rise again during this year. But I disagree, that Bitcoin (BTC) is the future of currency. maybe a hard fork, but until now, every hard fork failed or at least weren't a successor of BTC.
Bitcoin is too slow, too costly and too inefficient to maintain the network. For everyday usage, it's just not practical in it's current state.

I think bitcoin is a dead coin, costs too much to mine and only the mining groups will have the incentive to keep the network running because they own so much.

thank you for giving us hope, hopefully prices will upgrade soon

2. Lack of regulation = Bitcoins lack of regulation has scared all major players in the financial market. The fact that all other players have to abide by a set of rules has created major pressure on regulators either to ban or regulate the crypto market. The pressure on Bitcoin can be seen today with China's attempted ban on all domestic and international websites dealing with crypto; The latest ban of acquiring crypto with creditcards form the USA, Great Britain and others; The endless discussions on regulating the crypto market form Korea, India, Japan, USA, European Union and others.

<p>This post has received a 12.39 % upvote from @getboost thanks to: @macbaren.</p>

Thank you macbaren for making a transfer to me for an upvote of 4.04% on this post! 

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There is no doubt that Bitcoin with a hand full of other crytos will be the future of money, that is why just a fraction of it is valuable, so buy while the market is soft.

According to the firm Autonomous Next, the number of hedge funds investing in digital assets like Bitcoin has grown rapidly to more than 100. Since the launch of Bitcoin Futures on the Chicago Mercantile Exchange in December 2017, it shouldn’t be a surprise to anyone why the price of Bitcoin is down 50% from the high.

bitcoin.PNG

Only Retail Investors chase price and buy high and sell low, while the Professionals buy low and sell high. The Hedge Funds have purposely sold Bitcoin futures to get in a better price.

At the moment, there is a war taking place between the buyers (Hedge Funds) and the sellers (Retail Investors) called capitulation. That line in the sand was at $9000. Capitulation is when investors give up any previous gains, by selling, in an effort to get out of the market. Capitulations are outcomes that result from the maximum psychological and financial pain that can be endured by a group before throwing in the towel. The Retail Investors are throwing in the towel after seeing a more than 50% correction in the Bitcoin price to the buyers, the Hedge Funds. With 100s of millions of dollars to invest, we are witnessing an accumulation phase by the Hedge Funds between $6000 and $9000.

The Hedge Funds are loading up and buying from the Retail Investors. But to fill all their buy orders, as the sell orders dry up, price must go down to the next stack of sell orders. We are approaching what I believe will be the bottom of bitcoin at $6000. My first target is $12,000 and my second target is $17,000 over the next 3 - 9 months.

The easy money has been made over the last 12-18 months. With the big boys in the game now, the rules have changes. The question is, are you ready to play to win with a new play book?

This post is my personal opinion. I’m not a financial advisor. Do your own research before making investment decisions. By reading this post, you acknowledge and accept full responsibility of any gains or losses.

![bitcoin.PNG](https://steemitimages.com/DQmWiiBRSWkK148u5btTyVnKixs2FhXGnpeXK8KA8fAcwG5/bitcoin.PNG)

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Nice post

Sneaky Ninja Attack! You have been defended with a 7.11% vote... I was summoned by @macbaren! I have done their bidding and now I will vanish...Whoosh

Carry on sir

Bitcoin has a great future, don't panic about regular corrections, which will always happen, the best is yet to come 😋