Bitcoin is nearing the end of it’s 2nd Supemillennium wave

Bitcoin is nearing the end of it's 2nd Supemillennium wave

Bitcoin / Dollar BITSTAMP:BTCUSD

If we apply Elliot’s Waves theory to Bitcoin             from it’s inception, we can clearly see that it has just completed it’s first 5 waves of what now becomes a 1st Supemillennium wave.

Its now well on its way to the end of 2nd Supemillennium wave at around $4500 level possibly maybe even lower than that and if all goes well this should be a great place to buy before the 3rd Supemillennium wave starts.

Remember that 3rd wave is usually the strongest and the longest so potentially it could shoot up bitcoin’s price to some unbelievable and at the moment outrageous price levels.

All that provided it won’t get dethroned soon by another currency and crash badly which of course could happen and probably will happen at some point in the future.