The FED Boosts Bitcoin Value While It’s Starting to Make a Solid Recovery!

You should never be fooled when you notice a Bitcoin price prediction that forecasts a collapse in the digital currency. Most of these predictions are based on the bursting of the Bitcoin bubble. In 2013, Bitcoin prices soared 8,500% but fell by 85% by January this year. However, the critics seem to have misread what the charts are saying.

All they can or wish to predict is a complete downtrend. It further bolsters their belief that Bitcoin has no value, and an inevitable demise awaits it. However, the critics usually miss a lot of key points. With all Bitcoin mysteries out in the open, it seems to be finally discovering its true value. If you wish to look at Bitcoin in the correct way, you need to look at the U.S Housing bubble. The price declination in Bitcoin is quite similar to what happened to the U.S Housing market in the past.

As a result, in an honest, no-nonsense assessment, Bitcoin surely has true value. It is a digital form of currency and can transmit money between any two parties located anywhere in the world. All of it is possible without the need of banks or financial institutions. How is that not advantageous? Most startups have just started exploring the uses for technologies that underpin Bitcoin, the blockchain.

The Bitcoin price chart indicates that Bitcoin is seeking its true value, quite similar to the housing aspect. However, there are many other reasons as to why the Bitcoin bubble isn’t as important as most critics think. Ironically, the entire thing deals with how Bitcoin was inflated.

Recently, the price action has started behaving for a recovery after a period of corrective low. The wave count that has been presently provided rules down the chances of a wave down. This has been confirmed by the current price action and the massive indicator divergence. Recent trends dictate that prices will slowly push higher and continue consolidating. It will continue this way until a signal for advance is displayed in both 1 hour and 15 minute charts.