Where does Bitcoin go from here ?
As previously mentioned here Bitcoin (BTCUSD) has continued to look soft, and it is not too much of a stretch to interpret its continued inability to shrug off the issues that are weighing it down like a pair of antique diver’s boots as a sign that the only way is not, in fact, up. The decision by Google to ban cryptocurrency adverts en bloc just seems like kicking a man when he’s down. Bitcoin is paying the price for some of the recent Initial Coin Offerings (ICO’s) that have stretched crypto credibility to breaking point. Crypto Evangelists & HODL’ers continue to paint Bitcoin as a rocketship on its way to the stars, and their devotion to crypto-dogma remains unshakeable. However, in most cases this is because they are Long – and it would hardly suit them to say anything else. Wishing won’t make it so though, and looking at the charts a trip to $4,000 looks much more likely.