Bittrex platform upgrades gives a bullish bias in a Bear market....Setting a USD 28,000.00 price target for Bitcoin by daudimitch

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· @daudimitch · (edited)
$18.05
Bittrex platform upgrades gives a bullish bias in a Bear market....Setting a USD 28,000.00 price target for Bitcoin
![Screenshot (1086).png](https://steemitimages.com/DQmYeFrCN8oqWnzsZHsYmWSihjgXFYVidQxKTzcYhRz2fWW/Screenshot%20(1086).png)
I keep telling people, don't try to pick the bottom, ignore some of these technical analyst, this game now is bigger than personalities, groups or association. The infrastructure of the ecosystem is getting better, stronger, reliable and security is improving daily. What is more interesting, traders now have choices, competitors are striving to deliver better products. Take a look at the picture above, the trading platform looks clean and its definitely easier on the eyes. Its not just looks, I tested the waters, the interface is first class, feeds are faster and traders now can better appreciate market depths. The environment now is being created where its inviting for trading. The business end of these platforms are getting better, to get listed you must have some pedigree and to maintain listing projects have to maintain standards. The competition is healthy, we have the B's--> Binance, BitFlyer, Bithumb, BitStamp, etc, Bittrex knows customer satisfaction is vital and they are indeed trying to deliver. Look at the _sexy_ platform that now greets you
![Screenshot (1085).png](https://steemitimages.com/DQmZqoQGBtah84p4p1dSNauT6uWYsvAjsQzF3frpPH5hmLS/Screenshot%20(1085).png)
Their moves are well calculated, within hours of announcing re-opening of account registration, things had to be place on pause and traders who been waiting for months tried in desperation. 
![Screenshot (1090).png](https://steemitimages.com/DQmRXqTCYprFQdMMHU4cujK4udhWJDMV21j8a7j4GEmX1yM/Screenshot%20(1090).png)
This was quickly followed by following message
![Screenshot (1091).png](https://steemitimages.com/DQmZFJRCPk4TsU3yw5GjBGgryDCNU1s1Y8g5M3YoynHqBtH/Screenshot%20(1091).png)
The icing on the cake would be an announcement for support of USD fiat pairs. Base on Bittrex mood of maintaining regulatory standards and KYC-->Know Your Customers, I won't be surprise if they manage to gain support. I also notice that the exchange is giving priority to corporate account and has been accepting corporate application for some time. Given its reputation for security I am sure _money movers_ would fancy doing business with them. All this is positive for retail traders especially those looking for opportunities in the altcoin markets. Traders and speculators would readily trade coins listed on the exchange given the standard the exchange maintains.

_Lets turn our eyes to Bitcoin and why I say USD 37,000.00_
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![Screenshot (1093).png](https://steemitimages.com/DQmRF4wjsqWEMZ1cs24cRGf4KaC2zZYzn2BA6e1z3tmMaz3/Screenshot%20(1093).png)
I have posted this graph before when I compared Steem Back Dollar price action to BTC, as we can see nothing much has changed despite the media buzz of trying to find a story to fit the given BTC price action. What is important to note, BTC volume has drop somewhat as we approach the apex of this triangle. For me, the biggest weight on the current BTC price action isn't the regulatory pressure but the continuous feud between Bitcoin and Bitcoin Cash and the tax obligation  of the players who took this market 800 billion. The continuous feud between Bitcoin and Bitcoin Cash has robbed Bitcoin (BTC) of some infrastructural support it once enjoyed. One of the things that continue to spark my interest in BTC despite these humps it continues to grind ahead. I can now say with a level of confidence that Bitcoin has now out grown some of the personalities that help it get to this point.  While the technical talent would always be critical given the shortage of coders it continues to gather talent. The Lightening Network team thus far continues to gain momentum with the network rapidly increasing and transaction time and cost comparable to some of its biggest critics BCH. Lets talk a little of of the WallStreet talent and my 28,000.00 target (conservative).

WallStreet heavy weights continue to lose talent to the Bitcoin and Blockchain revolution. The growing Bitcoin and Blockchain entrepreneurial spirit has resulted in loss for the likes of JP Morgan, Goldman Sachs, Deutsche Bank, etc, even some of the biggest personality with the likes of George Soros has come to the most exciting and promising space in town. There has been some notable acquisition and hiring of top talents from the varying players to lead their efforts. Some of the sharpest minds in the financial markets are now looking at BTC and altcoin charts, and their financial pockets are deep. It is with this reality I tell retail traders/ speculators take a position at these levels, BTC is a sentiment King, it can jump 1000 dollars in a day and 1000 back down the next day, what is different now, we have players who's 1% can easily jump the BTC market 2000.00+ dollars. Base on BTC previous chart patterns, the higher the price, the less it takes to move a leg higher. Like we seen in December it took a 16 day period to move from 9000.00 to 19,000.00. My 28,000.00 target is base on the assumption of the previous high of 19,000.00 we can see three impulse or leg up following previous chart pattern which give us the 28,000.00 target. Now that is quite conservative. If you look at the chart, we had 7 legs up with a small pause followed by 16,000 back to 13,000 which was followed up with 17,000, a step back down to 15,500 that landed it to 19,800. 

If you don't get anything from this post, take this, _platforms are getting more efficient, the players are bigger and BTC is out growing personalities as it grinds ahead. Share your thoughts and opinions below_
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vote details (52)
@khaled-dz ·
thanks for the info. I really like new updates on bittrex. but beauty is doesn't matter if fees are very high copare with binance??!! most of people use binance for lower fees and huge volume.. sometimes I find it hard to sell steem and other coins on bittrex and do is fffffffffffffffffffffast on binance. I do love bittrex but wish they low the fees on trading.
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@daudimitch ·
$0.06
Bittrex fees would come down, for now I think they focus on security and meeting regulatory concerns, one good thing we know about competition, providing that its fair, the customers are some of the biggest winners, as I said we have choice, Bittrex knows that so as the evolve I am sure they would adjust, a drop in fees would definitely take some of Binance market...
👍  
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@khaled-dz ·
I agree with you. customers would benfite from competitions.  anyway I am glad to use both binance and bittrex.
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@saeed313 ·
28K is a good number, but I think there are other countries that are after bitcoin. But Pakistani and Indians banks are now turning away customers.
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