I have one question. What makes you think BTC will reach 8k in 3 months?
Before I give an answer let me repeat that I am not a financial adviser here and this is my personal opinion and not a financial advice. You should make your own trading decision based on your own risk management and market analysis.
Now, I don't know whether BTC will go 8K or 9K or more in 3 months and there are no exact numbers, but I do know some basic facts based on which I deal with BTC.
Here is the list:
1. BTC is the first cryptocurrency based on blockchain technology and there are thousands of other cryptos already available. So until some other crypto currency surpass the value of BTC I will be always expecting the price to go higher and higher may be 50K or 500K per BTC within 2 to 3 years and at least I expect it to continue till 2020.
2. I study both fundamental news and do technical analysis from mt4 chart using trendlines. But I don't trade BTC in mt4. I only buy BTC from exchange and save in hard wallet which eliminates the possibility of margin call or account wipe out in case of huge drawdown.
3.Anything which is fixed in its amount has a tendency to follow exponential growth based on supply and demand. So for BTC which is maximum 21 million BTC of fixed amount, as per my study BTC price has been doubling it's value approximately every 9 months from the year 2009. Now, it doesn't double exactly on 9th month, but an approximate calculation of exponential growth.
4.Now, whether it will go 8K or not within 3 months is because there was a lot of uncertainty due to Bitcoin hardfork due to which BTC price was not going up as expected in past couple of months and after everything was settled BTC price shoot up from 1800 USD to 5000 USD and this is the first big drop to 3000 USD after that hardfork settlement which is obvious after such a big rally. So there is a lot of sharp price increase is expected may be 9K or 10K or even more within a couple of months, but there are not exact times.
Only safe investment according to your postulate would be hard gold under your pillow.
Even though BTC value has risen significantly you can always loose money with it
be it technical failure, hacker or another
What you are saying is same like you can loose money when you save in your bank account by someone hacking your bank account and so don't keep money in bank account. Also, you can loose money if you loose your purse where you keep money. That's what you are saying. Very funny:))
Let me give you some information that it will be very easy for a hacker to hack a bank account if he can actually hack Bitcoin blockchain, because it will require thousand times more computer power to hack Bitcoin network as compared to hacking a bank itself.
No one can ever hack Bitcoin as per current computing power though there are rumours regarding Bitcoin to be hacked where as actually Bitcoin exchanges were hacked which are similar to banks.
That's why I keep repeating that if anyone buys BTC he should keep it in hard wallet and so if you loose your private key, then only you will loose the BTC, otherwise, not. It is similar to keeping money in your purse or in your house and so if someone will steal your purse, then only you will loose.
There are only 3 scenarios where I will give up BTC and sell all BTC:
1.If some other crypto currency will surpass the value of BTC.
2.Or the year 2020 is reached by which all BTC will be mined.
3.Or in case a successful quantum computer will be commercially available in the market which can not only hack BTC or cryptos, but also can hack each and every bank or any security system which is available in the entire world in a matter of seconds. This might be also possible by next 2 to 3 years.
Artificial General Intelligence