Jan 12, · At the time of writing, Bitcoin is trading up nominally at its current price of $8,, which marks a slight climb from its daily lows of just under $8,, and a slight decline from its highs of $8, that were set when bulls attempted to spark another rally last night. Like and follow to receive details analysis and updates for the next few months: The aim of this Monthly chart is to mainly track the timing of the end of the Bear Market expected around May-June and the start of a new multiyear uptrend through the next Megabull. Preferably, Bitcoin remains within the old bull channel as the blue projection fractal shows. Bear market what bear market? According to prominent figures in the cryptosphere, bitcoin never saw a bear market in – and the evidence is easy to find on the blockchain. Data covering various metrics show that despite recent price volatility, bitcoin has held strong throughout its 11th anniversary year, Cointelegraph reported.
Bitcoin bear market 2019Bitcoin Bear Market Will Become a Bullish One In , Fundstrat Global Advisors’ Researcher
According to the investor, the bear trend may not be over in a week, but he believes that the future of the market is just around the corner. The analysts of Fundstrat Global who were bearish in are now switching and saying that will be the year of the bull.
He affirmed that, when looking at the week moving average of Bitcoin, there is some support for this theory. From this point of view, the bear market is also near and he compared price charts from with the ones from now in order to explain how Bitcoin is basically getting back to the same formation as it was back then a triangle-shaped formation.
This, they believe, proves that there is an important price swing soon. An article by MagicPoopCannon, an internet Bitcoin analyst with a ridiculous name , was also cited by Lee. The article also talks about the same week moving average and compares Bitcoin to its movement.
If conditions are like the ones from , as the three investors believe, the downtrend could finally be over for a long time. However, is this really going to happen? The uptrend of February 8 gives us a hint: it may. At the same time, Tom Lee posted an article affirming that institutional investors will see the value of the USD falling down, so they will decide to invest in Bitcoin , which will make the prices go up even faster later.
Brazilian journalist who is interested in the future of the financial world. Has a special interest in the blockchain technology and the global financial markets. Covers economic and technology news with a focus on the fintech industry and has been writing about the cryptocurrency market since the start of E-mail is already registered on the site.
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