Jun 05, · A technical look at bitcoin’s and bear markets. Looking at support and resistance levels, we can see that the major support zone of around $6, established in November . Interestingly, one prominent crypto-focused analyst is now noting that Bitcoin’s recent price action is strikingly similar to that seen during the bear market, which could mean that it will see . Hey all! Just wanted to take a minute to compare the last major Bear Market to our current bear market and give people an idea of when we might see a new ATH and what to expect over the next few .
2014 btc bear marketBitcoin Is Fearfully Following Former Bear Market Fractal, New Lows Possible
Even though the one of the central tenets of decentralisation is to replace mainstream financial regulation with a network of mutually agreed upon ledger transactions through the blockchain, it is clear that at least for now, certain exchange regulations are needed to prevent future Mt.
Indeed, several crypto exchanges themselves have requested regulations to increase transparency to prevent future price shocks that negatively impact business sentiment, and as cryptocurrencies become increasingly woven into the fabric of the business and investment marketplace, mechanisms designed to safeguard transactions could take on more of a bullish quality.
The futures market. As the futures market only debuted in December we do not have the benefit of a direct comparison for trading activity today vs. The Federal Reserve stated that:. It is consistent with trading behavior that typically accompanies the introduction of futures markets for an asset. In other words, the huge leg up in price was driven by an army of enthusiastic investors desperate to cash in on the mainstream bitcoin hype, only to have their parade rained on once the those looking to take the opposite side of the trade were given the opportunity to do so for more see Why it may not be long before Bitcoin is short.
Although attributing the price plunge exclusively to the futures launch both oversimplifies and a downplays of the manipulatory and regulatory impacts, the fact that the futures launch so neatly coincided with the end of the bullish momentum makes it difficult not to draw certain conclusions. One unlikely benefit of the futures market is that it allows for a faster price discovery and ultimately lower volatility as the market has a more equal distribution of bulls and bears, particularly with renewed institutional interest in the market.
The coming months could prove decisive in terms of how the trend unfolds in the short to medium term, as any major revelations of exchange hacks or manipulation could dent confidence enough to keep bitcoin technically range-bound for an extended period, as was the case in the years — For more articles like this please visit www.
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Please contact your financial professional before making an investment decision. Sign in. James McKay Follow. Independent research consultant. Cryptocurrency Hub Follow. Learn about blockchain, crypto, bitcoin, etherium and much more. Written by James McKay Follow. More From Medium. I Bought My First Bitcoin! Now What? Trevor S. Caldwell in Cryptocurrency Hub. Six Industries Blockchain Will Infiltrate by Tony Simonovsky in Cryptocurrency Hub.
Shorter time frames are only useful for scalpers, daily traders and swing traders to a degree. I totally agree. When the price goes up like crazy, people want to buy.
When the price goes down, people want to sell. Eventually, though, at some price point - the weak hands will be gone - because - 21 million bitcoin limit. There is only so much btc available to sell. Bitcoin will never go to 0. Every large downtrend it makes, I will be waiting to buy a bit more, as are a million other people who "buy low and sell high. My low is support. Everytime BTC breaks under 6k by a few hundred it shows major resistance. Could it happen? Sure, anything can, however my buy orders are at and respectively.
I don't think Bitcoin will go lower than it's cost to mine it. So I don't see Bitcoin falling lower than FrederickDupont Darkside Darkside , "this is just for fun", those are my words.