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Crypto Report - Dr. K's Crypto-Corner - A brief analysis of where the price of bitcoin is headed

Dr. K's Crypto-Corner

by Dr. Chris Kacher

Riding the Revolutionary Rocket with Cryptotechnologies... Entirely Evolutionary™ 


The NVT Signal remains at elevated levels:


The above chart suggests the correction in bitcoin is yet from over. It currently trades at $6,142 as of this writing. It has corrected as much as -70% since its peak in December 2017. Should it correct as deeply as it corrected from 2013-2015 when it found its major low in January 2015 at a peak-to-trough correction of -85%, this would correspond to a price of $2,950 from a peak price of $19,670 achieved in December 2017.

But as I wrote in an earlier piece, this is unlikely due to the numerous tailwinds heading its way. Thus the psychological $5,000 price level could very well be a major low for bitcoin in the current correction, and would represent a drop of 74.5% from prior highs. Indeed, some investors with deep pockets such as the one in China who announced in late 2014 that he would buy all bitcoin available for sale below $200 stepped in huge in January 2015 when bitcoin had a knee-jerk mini-crash down to $152, then immediately shot back above $200.

I use a variety of proprietary weighted technicals which have sound predictive value when taken as an aggregate. Such major buy and sell signals only occur a few times a year or less, but make all the difference when it comes to profiting in bitcoin as well as in other cryptocurrencies which highly correlate with the price of bitcoin. I also take the price movement of ethereum into consideration. But that is for another discussion.

This information is provided by MoKa Investors, LLC DBA Virtue of Selfish Investing (VoSI) is issued solely for informational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. Information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of available data. VoSI reports are intended to alert VoSI members to technical developments in certain securities that may or may not be actionable, only, and are not intended as recommendations. Past performance is not a guarantee, nor is it necessarily indicative, of future results. Opinions expressed herein are statements of our judgment as of the publication date and are subject to change without notice. Entities including but not limited to VoSI, its members, officers, directors, employees, customers, agents, and affiliates may have a position, long or short, in the securities referred to herein, and/or other related securities, and may increase or decrease such position or take a contra position. Additional information is available upon written request. This publication is for clients of Virtue of Selfish Investing. Reproduction without written permission is strictly prohibited and will be prosecuted to the full extent of the law. ©2018 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.
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