Bitcoin Price Prediction   Some analysts refuse to make a Bitcoin price prediction for 2017. They say the “right” words but, when push comes to shove, they don’t give us a concrete

$4,000 Is Still the Bitcoin Price Prediction for 2017

Where is Bitcoin Headed?

Bitcoin Price Prediction   Some analysts refuse to make a Bitcoin price prediction for 2017. They say the “right” words but, when push comes to shove, they don’t give us a concrete

FOREX INVESTORS BUZZ Bitcoin Price Prediction   Some analysts refuse to make a Bitcoin price prediction for 2017. They say the “right” words but, when push comes to shove, they don’t give us a concrete Bitcoin price target. I suspect it is because they don’t understand the technology. I made that same mistake once.

I openly laughed at my colleague who made a Bitcoin price prediction of $4,000 in 2017.

n my defense, I had been focusing on microchip stocks at the time. My research yielded some incredible winners for our 21st Century Technology Profits newsletter, so I was pretty happy.

It’s embarrassing to admit, but Patrick was right and I was wrong. Bitcoin prices were indeed poised for a breakout. What with China’s capital controls, India’s demonetization, and the growth of initial coin offerings (ICOs), it seemed like a no-brainer.

History ended up proving Patrick right. BTC prices more than doubled over the following months.



Bitcoin Price Prediction

 

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They climbed past $1,000, $2,000, and even $3,000. A minor retracement followed this pattern, but those who invested in Bitcoin last year still got rich.

So when I say Bitcoin can hit $4,000 before the end of 2017, know that I didn’t come to that conclusion easily. It wasn’t confirming my prior beliefs. It was in spite of my priors. 

Bitcoin Price Prediction in 2017 Challenged by Ethereum

Despite these tailwinds, some people reject our Bitcoin price target. They think it’s impossible for BTC prices to keep rising, especially as new cryptocurrencies challenge its dominance.

We all know what they’re talking about. There may be more than 800 cryptocurrencies in existence (at the time of this writing), but only one of them poses a significant threat to our Bitcoin price prediction.

I speak, of course, about Ethereum.

Ethereum is more of a platform than a currency, however. It offers innovative features like smart contracts, which is something that Bitcoin simply does not have. It is also perceived as an upgraded version of Bitcoin, which raises the question: Is this bad news for Bitcoin’s worth?

Additional Notes: Bitcoin Volatility and SegWit Deadline

That said, I don’t want to give you the impression that Bitcoin prices will have a clear path to $4,000. There is always risk, especially when it comes to huge moneymakers like Bitcoin.

For instance, Bitcoin’s main short-term risk is SegWit. It is the only factor I see affecting our Bitcoin price prediction in the next few months.

Before I explain what in the world “SegWit” means, you should know that Bitcoin transactions take forever. There is a silly limit embedded in the original code which limits the amount of data in each block.

 

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Sarepta Therapeutics Inc: $40.00 is Price Support on SRPT stock

Sarepta Therapeutics Inc: $40.00 is Price Support on SRPT stock

Chart | Calendar   | TRADE NOW | SRPT

Sarepta Therapeutics Inc: $40.00 is Price Support on SRPT stock

  • Buz Investors Watching Price Support on SRPT stock (NASDAQ:SRPT) stock is not for the faint of heart. The volatility that accompanies SRPT stock is just incredible.
  • SRPT stock What other company can boast being down 79% year-to-date, only to reverse this tremendous loss and post a positive return of 65% only a few months later?
  • The cause of all this volatility stems from news surrounding a drug for which Sarepta is seeking approval from the U.S. Food and Drug Administration (FDA). The drug is called “Eteplirsen,” and it treats Duchenne muscular dystrophy (DMD).

Price Support on SRPT stock Support Found Here

Price Support on SRPT stock

Price Support on SRPT stock  The weight placed on this one breakthrough drug is so heavy that it is causing wild and erratic swings in SRPT stock. Fundamental data can give little guidance or clarification for the pricing action. In such circumstances, technical analysis is the only tool that can be used effectively, because this style of analysis is strictly based on price.

The Sarepta stock chart above illustrates that $40.00 is a major price level, and I have to believe that this price level will act as support. This price level acted as resistance for three years, and it took four attempts to finally break above this level.

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When a major level of resistance is broken, it becomes a new level of support, and it is very common for a price to return to this level and test it from above. Traders refer to such price action as a backtest, and it acts to reaffirm that this new level is indeed an new level of support. On average, a price will find support at this level and proceed to move in the opposite direction, which is higher.

Not only does this level provide support, but the Fibonacci numbers are alluding that this retracement is within the confines of a primary bull market move, and that the trend higher in Sarepta stock can resume. This level represents an excellent opportunity from a risk/reward perspective. I could incorporate a trading strategy at this price point, which would incorporate a level of risk that I believe is suitable to my needs, and then go long on SRPT stock.