@colinbrazendale, I think the price of BTC is going to enter the range of $9400-$9800. At the level of about $10 000 we will see some kind of consolidation. This is according to my technical analysis (TA). In my work I use fundamental, technical and candlesticks analyses.
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That is very interesting @cryptospa. $9400 or 9800 will be amazing. How low do you think this pullback will go?
@lizette, it is hard to say when it will happen. The price of bitcoin depends on its usability/scalability (it is measured by the number of transactions/intereactions between the users of the bitcoin ecosystem). Recently, the number of transactions with bitcoins has been slowly, but steadily rising. At the moment, the main driver for the bitcoin price is the enlargement of the Lightning Network. Its capacity has increased since the beginnig of the month from the level of 20 BTC (120 000 USD) up to 113 BTC (almost 930 000 USD), according to lnmainnet.gaben.win. The faster the LN expands, the faster the price of bitcoin will be able to reach the level of $9800. In the long run, if the LN solves the current scalability problem of the bitcoin ecosystem, then the price of bitcoin will start growing again steadily, and it will able the renew the ATH from the end of December of 2017 at the level of approximately $20 000.
@cryptospa, you should do more regular TA on your Steemit blog. I would liek to knwo more of you TA.
@colinbrazendale, thank you for your support! I will also follow you. I will suscribe to your Steemit account, as well!