The great cryptocurrencies bull market resumes is what we wrote several weeks ago when we flashed a BUY alert to our premium subscribers. Today, we are on record calling for a screaming BUY opportunity for investing in cryptocurrencies until 2020, this is why.
A couple of weeks ago we explained in this article why we believe cryptocurrencies are a BUY: Cryptocurrencies: A Must-See Chart Going Into May 2018. We said that the long term cryptocurrencies chart which incorporates the 8 largest cryptos reveals a couple of bullish things (chart courtesy GoldChartsRUs)
We have updated the chart, and embedded it below. The only thing we conclude during the ongoing ‘retracement' is another opportunity to enter, nothing more, nothing less.
Subscribers are reaching out to us, asking what is going on with cryptocurrencies because of the recent retracement. Looking at the chart below we would argue that it is nothing more than a small blip, an entry point, more than anything else. This cannot be compared to the real retracement in January and February of this year.
Investing in cryptocurrencies until 2020: screaming buy signal
Let's get things straight: as long as cryptocurrencies remain in the pattern that you see on below chart they are in great shape. Every time they come close to the lower area of the channel it is a BUY opportunity.
Regardless of how long the ongoing retracement may take, even if it turns out to be a consolidation, it is important to stay focused on the overarching trend, and that one points to higher prices until proven otherwise.
Yes, we are still convinced that our Bitcoin price forecast of $50,000 USD is still accurate, again, until proven otherwise.
Note that even in February of this year, when all cryptocurrencies, without any exception, crashed in the 70 to 80 percent range, we remained focused on our method, and concluded the following, Cryptocurrencies in 2018: Long Term Bull Market Still Intact after we wrote this piece in January Cryptocurrencies: a Sea Of Red or a World of Opportunities.
