Bitcoin analysis for 12/10/2017:
Former investment banker, Fortress, Michael Novogratz, provides that within a period of 6 to 10 months Bitcoin will be worth more than$ 10 000. The investor creates a $ 500 million fund that will invest in cryptocurrency, ICOs and blockchain related companies.The former investment fund manager has decided to go all in despite the fact that, in its opinion, the virtual currency betrayed the signs of a speculative bubble. In 2016, the Fortress Investment Group-managed alternative assets with a value of more than $ 70 billion. Bitcoin valuations to $ 10, 000 can have the support of the investor’s own convictions $ 150 million in the Digital Galaxy of the Assets of the funds will come out of his own pocket. The remaining funds will be raised from wealthy investors and other investment fund managers.
It is good to see a representative of the financial world, which has positively speak of Bitcoin and cryptocurrencies. Recently, Jamie Dimon, the CEO of JPMorgan, criticized Bitcoin for the call of the whole system is a scam. In addition, he announced that he was going to lay off all the employees of the bank who will be trading Bitcoin.
We will now take a look at the Bitcoin technical of the image to the H4 time frame. The market is trading at new highs around the level of $5,171 at the time of writing. The corrective cycle scenario had been invalidated and now the alternate count is in charge. In the case of an extension to the top, the next target is seen at the level of $5,472. Please note that the development bearish divergence between price and the momentum indicator.