Bitcoin traded today Bitcoin traded today
couldnt post during the trade wasnt near my computer
however (TP HIT)
Bitcointoday
One more dump before the pumpBullish divergence on daily time frame. (arrows pointing to expected drops.)
The Jet is fueling.... Awaiting RSI to touch 30 before takeoff.
Bitcoin - how to actually make money with crypto?First, stop buying without discipline, crypto can make you money but you must have a plan, stick with me and I will show you how to create a plan and why price does not matter. We can make money either way but we need "Can't Lose" scenarios all the time. Let's focus on what matters -- support and resistance. For the last few weeks, I've been showing where BTC is going to be and what it means to know where it will end. For the last few days I've been showing you the macro view of what BTC is doing, now let's look at the midterm view (secondary trend) on the 1D to know where it will find bottom out. The likely bottom as I've been saying is $9,800 - $10,000 looking at the chart now you can better understand why. There is a lot of support at that price point, also other coins will be lower once BTC hits that area. I would start buying Alts once BTC hits 10k and continue to do so as we go a little further down to $9,800.00. What Am I buying? LTC, NEO, and ETH. Personally, I will wait for LTC to hit the mid 60's. SO, in short, how do you make money? You wait until price hits a very low point and when it does it can't go much further down due to strong support but it can go very high and that's how you enter a "Can't Lose" scenario which we now are beginning to see.
Bitcoin Analysis 20190404We are looking at a possible rising wedge pattern in which BTC is trading within.
Very high possibility we might be looking at a possible breakout with volume with target of 5500. So pay good attention if BTC was to breakout of the rising wedge. Because if it does, possible short term pull back in the alts which will allow for potential buy-in opportunities!
Two possibilitiesHi!
When looking at this daily chart my opinion is that BTC is either way going to test that 3000-3300 area first to test the support once again. From that point what happens next is...
A)support breaks and the price is going to keep falling down to 1900-2100 area where there's another support, then breaks downtrend and tests 3000 again. According to the RSI the possibility for another drop is there. Also there's a bearish MACD crossover going on ATM which might add fuel to the fire.
B)breaks the downtrend and rallies up to 4000s,
Anyways, I think that A has a bigger possibility to come true at this point.
Good luck everyone!
Bitcoin Today: WIsh You Happy New Year!Overview
Bearish stagnation in the cryptocurrency market continues. The factor of the upcoming New Year influences prices and a number of participants, going off for holidays, try to close current positions, especially since December provided a good opportunity for earnings, but the global trend in the market is still negative. Over the past 3 days, the price of BTCUSD pair has tested support around $ 3700 three times. As a result, the bears still managed to push the price below this level, the price is in consolidation at the $ 3600 level now. The forecast stays the same: slow lateral movement in the $ 3500 - $ 4000 zone with irregular sell-offs if the price will be getting closer to the upper bound; In case of breaching below the $ 3500 – possible more bearish state.
Today forecast
Trading Bounds: $ 3500 – $ 4000.
Latest
The BTC trade volume in Venezuela has reached a historical maximum
Despite the competition from the state-promoted national cryptocurrency El Petro, the volume of Bitcoin trading via LocalBitcoins in Venezuela reached record highs.
So, last week the turnover at the p2p site was 1974 BTC. At the same time a week earlier, this figure was 1743 BTC. Thus, in just seven days, the increase was 11%.
Many conservative supporters of traditional finance criticize Bitcoin for its high volatility. However, despite the fact that BTC has fallen by more than 80% since the beginning of the year, for the Venezuelans this cryptocurrency remains a very important mean of preserving value.
Note that there is no official statistics on inflation in this oil-rich Latin American country. However, experts of the International Monetary Fund are confident that by the end of the year, the inflation rate in Venezuela could have reached 1 million percent. According to some reports, prices in this country every month at least double. Consequently, the inflation rate in 2019 could reach 10,000,000%.
Recall, recently the president of Venezuela, Nicolas Maduro decided to share his "advanced" experience of monetary reforms with Russia. In particular, he proposed to use the El Petro cryptocurrency in the calculations for oil.
Bitcoin Today: 2019 - end of the Wild WestOverview
The previous day scenario remains for today, the price is flattening-out along the $ 3700 level after the Monday fall. Nonetheless, the $ 3700 level still shows it’s supportive character by actively holding the price above itself. There is not much news and happenings due to upcoming holidays, so we do not expect any strong movements in the nearest week. So, BTCUSD will probably stick to support zone $ 3500 - $ 3700, only breaching below $ 3500 could lead to more active downward movements; and will be bound by the psychological $ 4000 and past peak $ 4300 from above.
Today forecast
Trading Bounds: $ 3500 – $ 4000.
Opinions
Year-Ahead Predictions 2019
Next year, the Bitcoin dominance index will be 66%, and the cryptocurrency market will move to the stage of maturation and consolidation. In addition, the international financial system must adopt Bitcoin in order for it to survive. This assumption was put forward by analysts from research firm A.T. Kearney in the Predictions for 2019 report.
The researchers also suggested that in the coming year, financial regulators will soften their position on the crypto industry. The report says that the treasury committee of the British parliament wants to put an end to the “Wild West” on the cryptocurrency market. That is why in 2019, the regulator will develop solutions to combat industry crime and reduce price volatility.
At the same time, analysts say, the US Securities and Exchange Commission (SEC) will take a positive decision regarding Bitcoin ETF and continue to work to increase market transparency.
“Ironically, for the cryptocurrency, the only viable way forward is acceptance by the international financial system, which Bitcoin once sought to win. Realizing this, in 2019 the newly created Blockchain Association will begin lobbying American politicians in order to improve the image of cryptocurrencies, ” - A.T. Kearney.
Bitcoin Today: like Kepler's law Overview
After the Monday fall, $ 3700 level still holds as support. The price movement develops in lateral pattern between $ 3700 and $ 3900 boundaries. The price leaning to the $ 3700, hinting at a soon testing of the $ 3500 - $ 3700 support zone, which is the main support of the turnaround pattern. Breakthrough below the support zone will lead to cancelation of the turnaround pattern and possible further development of the bearish tendency.
Today forecast
Trading Bounds: $ 3500 – $ 4000.
Opinions
Plan B and power law
Twitter user Plan B has again made a bitcoin price forecast based on a power law. So, in his opinion, the price of Bitcoin will reach $ 17,317 by the end of 2020.
“Price follows hash rate .. Price = 0.005 * Difficulty ^ 0.46” - planB @100trillionUSD
“Bitcoin price and difficulty seem to have a power law relationship: Price=0.005*Difficulty^0.46 like Kepler's third law: Orbital period=Distance to the sun^1.5” - planB @100trillionUSD
Previously, he conducted a small social survey, in which most of the respondents answered that he expects the growth of mining complexity in the next two years. In turn, Plan B emphasized that the price of the first cryptocurrency and the complexity of its production can be interdependent in accordance with a power law.
“#bitcoin difficulty is 5,106,422,924,659
What will difficulty be 2 years from now (end of 2020)?
- (7%) -50% (death spiral)
- (7%) 5,106,422,924,659
- (59%) 10X (50E12)
- (27%) 100X (500E12)” - planB @100trillionUSD
Recap that earlier, on 5th of October Plan B suggested that the price of Bitcoin will start to grow closer to the date of the halving.
“#bitcoin halving: only 19 months to go ... we are in the green zone!” - planB @100trillionUSD
Bitcoin Today: CCID 8thOverview
After spending the December 24th above $ 4000 bitcoin did not manage to hold the level and fell sharply below at the end of the day. For now, the fell has stopped at the $ 3700, which is the upper bound of the support zone $ 3500 - $ 3700. For the last five days, the price has drawn two peaks in attempts to breach above $ 4300 resistance, which would confirm the reversal pattern. But attempts failed, and now the poles are changed to the appropriateness of the whole turnaround movement. In short, the breakthrough below $ 3500 will bring back the bearish overview.
Today forecast
Trading Bounds: $ 3500 – $ 4000.
Latest
CCID eighth rating
China’s Center for Information and Industry Development (CCID) has released the eighth cryptocurrency rating. EOS is still the leader, while the newcomer Ontology, which ranks 28th at CoinMarketCap, suddenly took the fifth place.
In total, the new version of the rating contains 34 cryptocurrencies. EOS, Ethereum, and GXChain take the top three places. It is noteworthy that GXChain occupies only the 106th line of CoinMarketCap and is traded on only a few crypto exchanges.
Since the publication of the previous version of the rating, Bitcoin has rolled back from the 13th to the 18th line.
Recap, when compiling the ranking, CCID experts rank cryptocurrencies according to the following criteria: basic technology, the innovative potential (creativity) and practical applicability.
Raiting:
#1 EOS, #2 Ethereum, #3 GXChain, #4 Komodo, #5 Ontology, #6 NULS, #7 Nebulas, #8 BitShares, #9 NEO, #10 Steem, … #18 Bitcoin, #19 Ripple, #20 Monero
Bitcoin Today: nice fantasies about TTAOverview
Bitcoin did not find enough support on the $ 4000 to continue the uptrend but still managed to hold on to the level, keeping itself above the last peak of $ 3900. Such behavior does not violate an upward overview and looks like a small correction before the uptrend continuation. The $ 4400 zone is called the next strong resistance for the upward scenario (the middle of pointed yesterday main levels $ 4300 and $ 4500). From the below we have $ 3900 level, which supports the bullish scenario and $ 3500 - $ 3700 zone below it, crossing of which will bring back the bears.
Today forecast
Trading Bounds: $ 3900 – $ 4400.
Latest
Token Taxonomy Act
On December 20, Republican Warren Davidson, a congressman from Ohio, and Democrat Darren Soto of Florida presented to the Congress the Token Taxonomy Act. If the bill will gain power, then cryptocurrencies will cease to be a phenomenon that the SEC has the right to regulate.
This means that digital currencies will be freed from the dictates of the Commission, with its archaic views on the nature of the “security”. The definition of "security", which operates the SEC, formed more than seventy years ago. According to CNBC, the new law, which, remarkably, was developed by representatives of America's two main competing political camps, contains the definition of “digital securities”. This is extremely important since so far virtual currencies do not have an unequivocal legal status.
CNBC quotes Congressman Davidson, who recently proposed to the United States the help of an ICO to finance the construction of a wall on the border with Mexico, which said:
“At the dawn of the Internet, Congress passed laws that provided clarity and prevented the temptation to “regulate” the market. We intend to achieve a similar victory for the American economy and guarantee the leadership of the United States in this innovative sphere.”
If the bill is approved, the cryptocurrency community will sigh with relief. Although one SEC official suggested that bitcoin and ethereum are not securities, their status, as well as the status of other cryptocurrencies - XRP, etc. - is still uncertain, not to mention the hazy future of possible Bitcoin ETFs.
The congressman took a step forward, compared with his colleagues, trying not only to define Bitcoin but also to show what a digital asset is not.
Employees of the Davidson team told reporters that the text of the bill is not yet available, and soon representatives of the congressman will make an official statement.
Davidson has a reputation as a “friend of cryptocurrency”, advocating a “soft” approach to blockchain regulation. He seeks to prevent technological espionage from China and other countries, and not allow American technology to "leak" from the country, and also intends to protect Americans from fraudulent ICO projects.
Bitcoin Today: If it stays above $ 4000 - Bullish signalOverview
The growth tendency continues, and today bulls brought the price to the December opening point at $ 4000. The resistance at $ 3700 - $ 4000 was passed fast with high volumes, this is a positive sign for the upward development. If BTCUSD will manage to fix above $ 4000, that would confirm a turnaround formation and could provoke further growth. From below, the $ 3500 - $ 3700 zone should support the break-through of $ 4000 and further growth scenario. In the case of the bullish development, the next resistance would be $ 4300 (78,6 % Fibo) and $ 4500.
Today forecast
Trading Bounds: $ 3700 – $ 4500. If price will hold on above $ 4000 – high possibility of further upward movement to the $ 4500.
Latest
Mick Mulvaney – the head of the office
The President of the United States chose Mick Mulvaney, pro-cryptocurrency advisor, the head of the office for the coming year. He is known for his positive opinion about Bitcoin: according to him, the main advantage of cryptocurrency is decentralization.
Back in 2016, Mulvaney accused the federal reserve of “effectively collapsing the dollar”, noting that such a trick simply would not come out with Bitcoin.
The fact that a crypto enthusiast occupies such a high post, and, moreover, was appointed by the president of the first economy of the world, will undoubtedly have a positive effect on the entire crypto industry in the long term. However, Mulvaney’s position is unlikely to make any adjustments to the plans of the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC). The presence of such people in the US government may encourage other high-ranking politicians to pay attention to Bitcoin and other cryptocurrencies, as well as analyze their advantages over the current financial system.
Recall that, at the moment, the SEC does not recognize Bitcoin and Ethereum as securities, thereby not threatening their existence, but the Commission is far less well off with ICO and bitcoin-ETF.
Bitcoin Today: Dead cat jump or real deal?Overview
Monday was marked by a growth, the price was picked up from the $ 3250 low and brought upwards, peaking above $ 3500 mark. Nonetheless, the BTCUSD did not manage to break the December 9 peak, and price retreated to the $ 3400 level, where it is trading right now. The logical question right now, whether this movement signals about the price turnaround or it is just a "dead cat jump"… To prove the first version we will want to see bitcoin holding above $ 3400. Come-back below $ 3400 will return the bearish tendency and $ 3000 - $ 3300 support zone to testing.
Today forecast
Trading Bounds: $ 3400 – $ 3500. Breakthrough below $ 3400 will bring back bearish overview.
Latest
Calvin Ayre predicts the collapse of Bitcoin in 2019
The billionaire entrepreneur Calvin Ayre, who made his fortune on gambling businesses, in an interview with the British Express, said that in his opinion, in 2019 the price of bitcoin could fall to zero, “since it has no practical use, it does nothing and its scalability is consciously opposed”.
When asked whether the BTC days are really numbered, Ayre answered affirmatively, adding that “this is fake Bitcoin” - while the real Bitcoin is SV (Bitcoin Cash).
At the same time, the hardfork of Bitcoin Cash, which many experts blame in the recent cryptomarkets crash, according to Ayre, became only a reason for anxiety amid the fall experienced by the “following the old-fashioned financial trends of the SegWit coin, mistakenly called Bitcoin”. One thing in the actions of opponents from the Bitcoin Cash ABC team, he sees a destabilizing factor for the market. Ayre is convinced that people in vain focus on an indicator such as market capitalization when one should pay attention to the scalability and the actual use of an asset.
Recall that in late November, the Bitcoin Cash SV team abandoned the name Bitcoin Cash (BCH) for the hard-forked cryptocurrency, as, according to Ayre, Bitcoin SV (BSV) is the real Bitcoin.
Earlier this month, the American company United American Corp (UnitedCorp) reported that it had appealed to the District Court of the Southern District of Florida with a demand to compensate for the losses incurred in the amount established by the court and to prohibit the activities of the companies and individuals that led to them: the Chinese mining giant Bitmain , Bitcoin.com, and Roger Ver, Kraken, and others involved in the planned takeover of the Bitcoin Cash network as a result of its hardfork.
Bitcoin Today: in three years :)Overview
On Saturday price made a new low at $ 3130, Sunday went above the new low, but failed to step over the previous low $ 3250. Monday has opened in a quiet manner, due to the upcoming New Year holidays there is not much happening in the markets. And it seems that such slowly descending tendency is about to stay for now. Still, it is unknown how the price will react on reaching the $ 3000 level, whether it will jump higher, breakthrough below with rising power, or will remain slowly descending tendency.
Today forecast
Trading Bounds: $ 3000 – $ 3500. Breakthrough below $ 3000 can cause a sell-off to $ 2500.
Latest
Circle CEO: cryptocurrency market will resume growth, but only in the long-term
According to the CEO of Circle, Jeremy Allaire, the cryptocurrency market will resume growth, but only in the long term.
Now there is no reason for a breakthrough of bitcoin and altcoins, but it can be stated with confidence that in about three years digital currencies will cost more than they do now. Such an opinion was expressed by a businessman on CNBC.
He stressed that now investors are actively selling coins, which was the result of the collapse of their value. Some assets, such as ether and bitcoin, are experiencing the biggest sales. However, cryptocurrencies will not only stay on the market but will also significantly strengthen their positions.
In the future, any financial asset will be represented on the market in a digital format, says Allaire, who is known to the crypto-community as an advocate of regulating relations in the cryptocurrency market.
“I do not think that there will be only one Bitcoin. Most likely, we will see the ‘tokenization of all assets’” - Jeremy Allaire
Bitcoin TOday: Tom Lee and the fair valueOverview
The well-established scenario continues, and after some time in a horizontal mode, the sale-off pushed through the $ 3300 mark. For now, the price stays just below the level, but the fact that buyers did not bring the price back quick hints that there are not many supporters on the $ 3300 and soon we will test the main psychological support at $ 3000. What awaits us below $ 3000 - is the next psychological value at $ 2500, news agencies and forecasters prepared the crowd for this level pointing on it as on the main candidate for the bottom.
Today forecast
Trading Bounds: $ 3000 – $ 3500. Breakthrough below $ 3000 will send the price to the $ 2500.
Latest
Tom Lee and the fair value
Well-known Bitcoin-optimist and co-founder of Fundstrat Global Advisors Tom Lee is convinced that the fair price of the first cryptocurrency is in the range of $ 13,800 - 14,800, reports Bloomberg.
Nevertheless, BTC is currently trading at around $ 3300. Lee explains such low BTC values with the overwhelming growth of the last year, the “catastrophic” macroeconomic climate, as well as massive sales of ICO funds.
Analyst's judgments about the fair value of Bitcoin in the range of $ 13,800 - 14,800 are based on the growing number of active addresses of BTC wallets, demand factors and various indicators of the use of the first cryptocurrency.
“Fair value is significantly higher than the current price of Bitcoin,” he wrote. “In fact, working backwards, to solve for the current price of Bitcoin, this implies crypto wallets should fall to 17 million from 50 million currently.”
Mass acceptance and recognition of Bitcoin as an asset class, in his opinion, are key factors for the growth of cryptocurrency after 2018. If the number of BTC wallets reaches at least 7% of the Visa user base of 4.5 billion accounts, then, according to the Tom Lee model, the fair price of the first cryptocurrency will be $ 150,000.
“We are tired of people asking us about target prices,” he said, declining to update his year-end forecast.
Bitcoin Today: Latest whale movements - Coinbase Overview
Yesterday went in a lateral manner, not disturbing the $ 3300 support. The movement breached through the local Bearish Trend Line, still, it did not add anything to upward impulse. To add any positivity to the current price pattern we will need to see a rise above $ 4000. From below stays important the $ 3000 - $ 3300 zone. One more negative thing about such downward patterns is that the longer price will stay in a lateral channel ($ 3300 - $ 3500), the greater the likelihood of further decline.
Today forecast
Trading Bounds: $ 3300 – $ 3500. Breakthrough below $ 3300 will send the price to the $3000.
Latest
Media: Coinbase stands behind transactions for hundreds of thousands of bitcoins
Last week, transactions for 199,000 BTC were recorded on the Bitcoin network. An unknown large coin holder made three transfers of 66,000 BTC each and through dozens of addresses placed 8,000 BTC in batches. A number of media outlets also reported that the amount of transferred funds reached 856,000 BTC.
Media connects these frightening movements with the Coinbase statement on November 29, the American cryptocurrency company notified users about the start of planned infrastructure work related to the movement of funds in all supported blockchains.
“Notice of blockchain movements
Over the next seven days, Coinbase will be running scheduled maintenance across our platform that may cause movements on all Coinbase-supported blockchains. These are controlled, closely monitored movements that are being performed in order to provide enhanced security and protection for our customers. Updates will be posted to status.coinbase.com, status.pro.coinbase.com and status.prime.coinbase.com.”
Note that all major transactions were actually made in the period indicated in the message of the company.
Nevertheless, it should not be forgotten that the three addresses from which large sums began to move received transfers from a single address belonging to the JuBTC OTC platform, but its representatives refused to comment on the situation.
Bitcoin Today: LB volumes are high, low expectations on ETFsOverview
The $ 3300 level still holds, thou the developments proceed in a bearish pattern below the Bearish Trend Line. Low momentum and absence of high volumes near the $ 3300 hints that the breach lower is possible. Support/Resistance levels stay similar with yesterday, $ 3000 - $ 3300 as a support; and the whole $ 3500 - $ 4000 as a resistance, which is needed to be pierced to cause any changes in the downward overview.
Today forecast
Trading Bounds: $ 3300 – $ 3500. Breakthrough below $ 3300 will send the price to the $3000.
Latest
Jake Chervinsky: BTC ETFs is in trouble
Finance lawyer Jake Chervinsky is convinced that the likelihood of approval by the Securities and Exchange Commission (SEC) of the VanEck and SolidX applications for launching Bitcoin-ETF is extremely small.
In one of his tweets, the expert emphasized that market manipulations are the main deterrent to the launch of ETFs.
“1/ I'll say this upfront: I think the ETF is in trouble…
2/ When we last discussed the ETF on September 20, the SEC had just stated its "grounds for disapproval under consideration." The goal of that step is for the SEC to explain all the reasons why it might deny the ETF so the sponsors & the public can respond to them all.
3/ The SEC had many concerns--enough for 18 multi-part questions. The most important question was about market manipulation. The SEC wanted to know if CBOE BZX (the exchange proposing the ETF) had "a surveillance-sharing agreement with a regulated market of significant size.”
According to Chervinsky, it was precisely the problem of manipulation that caused the SEC to reject a similar request from the Winklevoss brothers in July of this year.
Another problem the lawyer calls insufficient powers of the Commission in the context of control over the activities of the exchanges on which the underlying ETF assets are traded.
“7/ The SEC is basically saying it needs to be able to detect manipulation on the underlying spot & derivative markets where bitcoin is priced to be certain that the ETF itself isn't being manipulated.
Whether that's the correct view is another matter (@HesterPeirce says no).
8/ The SEC's problem is that it doesn't have jurisdiction over crypto exchanges, so it can't force them to provide the information it needs to identify & prosecute manipulation (like spoofing & wash trading).
Also, it can't tell if the exchanges themselves are committing fraud.”
LocalBitcoins: Venezuelans, Argentines and Russians are buying bitcoin on the bottoms
Coin Dance service collects stats on LocalBitcoins volumes by countries shares interesting statistics about local bitcoin acquisitions volumes.
The main conclusions from the statistics are given below:
- Revolutions in hyperinflationary Venezuela are growing rapidly. Demand for BTC in this Latin American country has grown to unprecedented heights, despite the competition from the “oil-secured” cryptocurrency El Petro.
- Argentina, Columbia, and Chile also showing a growing demand on the Bitcoin. Though it also could be explainable by the raging inflation levels and low confidence in the national currency.
- In Russia, BTC trading volumes have also increased recently, despite the fact that inflation and inconfidence to government in this country are not reaching the Venezuela levels. Though, Russia takes leading places on overall volumes on LocalBitcoins.
- The global trading volume of Bitcoin through the local LocalBitcoins p2p platform reached the values of the end of 2017 when an unusually high level of activity reigned in the market. Which could be the sign that people are starting to adopt the idea that near $ 3000 prices of BTC are at the bottom.
Bitcoin Today: Only falling till 2019Overview
The December downward course, along with the Bearish Trend Line, continues. Empty fundamental background and approaching holidays are delaying all the possible movements on the next year, which leaves the question hanging, will current low demand be enough to hold the support levels. So, the important question, for now, will there be enough buyers in the $ 3000 – $ 3300 zone to hold the price. And if not, how low we will reach. The next popular bet after $ 3000 is $ 2500 level, awaited by many traders as the turnaround point. The main resistance from the upside is $ 3500 - $ 4000 zone.
Today forecast
Trading Bounds: $3300 – $4000. Breakthrough below $3300 will send the price to the $3000.
Forecasts and opinions
Willy Woo
Independent crypto-researcher and creator of the NVT indicator Willy Woo recently had presented a plausible scenario in one year's horizon.
The first thing Woo pays attention to is a simple 200-day moving average. The upward intersection of this MA and the rapprochement of the latter with the 200-week MA will signal bullish sentiment in the market.
The range between $ 2,200 and $ 2,900 is the “surrender zone”, as in the worst periods of the 2014-2015 bear market. This range is optimal for placing purchase orders.
The 200-week MA is the lower boundary of the accumulation zone in the range of about $ 3,600- $ 4,550. This area, according to Woo, will be relevant in the second quarter of 2019. At this time, the bear market is expected to come to an end. This, in particular, will be indicated by the transaction volumes for various coins, changes in the HODL structure, the NVT indicator, etc.
If the first cryptocurrency falls below the level of $ 1,300, then the media will probably be replete with materials that “Bitcoin has died”.
Murad Mahmudov
Investor and economist Murad Mahmudov regularly shares his thoughts on the long-term outlook for BTC. In the middle of November, he published a very conservative forecast, which has hardly lost its relevance now.
Murad makes a clear analogy with the bear market of 2014-2015. Just as a few years ago, the lower bound of the “Triangle” figure was pierced.
After that, at the end of November, the level of $ 4334 was passed. The lower mark, to which the price can go down the channel, is $ 2880. After that, the analyst is sure, the price will begin a gradual recovery.
The upper boundary of the channel will be broken around May next year. This moment marks the end of the bearish cycle and the resumption of the long-term uptrend.
According to Murad, something like a “preparatory stage” is now taking place for the upcoming bull market, which is expressed in a gradual increase in the volume of transactions in the Bitcoin network.
For example, before the renewal of the uptrend in 2015–2016, at the end of 2015, the price gradually decreased amid the growth in the volume of BTC transactions. A similar situation is happening now.
In a recent tweet, Murad Mahmudov confirmed Willy Woo’s thesis about the trigger point, which coincides with the 200-week MA.
Plan B
It is widely believed that Bitcoin shows growth with the approach of the so-called halving when the reward for the found Bitcoin miners blocks is halved. The argument of the supporters of this theory is based on the fact that BTC is becoming a scarcer asset. In other words, with unchanged demand, a decrease in asset supply leads to an increase in its price.
Halving occurs every four years, that is, every 210 thousand blocks. The nearest such event should take place approximately on May 26, 2020. After this date, the miner’s reward will not be 12.5 BTC, as it is now, but 6.25 BTC.
The last halving, which was the second in the history of Bitcoin, took place on July 9, 2016.
Immediately after the halving, there was some decline, which served as a kind of respite before the dizzy growth that began only a few months later.
According to Plan B, a Twitter user, Bitcoin shows the lowest rates for 17-12 months before the halving. A year before it begins to rise in price.
CoinDesk
According to CoinDesk analysts, the next key support level is likely to be the $ 2,900-3,000 area.
Also, analysts state that for altcoins, 2018 was even more painful than 2014-2015.
Thus, during the 2014-2015 bear market, the altcoin market sank 85% in relation to its maximum. Since the beginning of this year, this market has shrunk more than 10 times - the drawdown relative to the historical maximum exceeded 90%
Analyst Sam Uimet notes that since the “triangle” was broken, the first key goal could be the $ 2,676 mark in December. It corresponds to the width of this geometric shape, formed during the downward price movement.
Bitcoin Today: Bottom at $2500?Price
Double-tasted during the weekends, $3000 – $3300 zone showed its supportive power and did not let the price pass. The week started at the $3500 level in a low-volatile manner. The rebound from the $3300 low did not manage to reach above the Bearish Trend Line, thus leaves the outlook bearish. Quiet news background causes little-no support for the price, therefore it is possible that bitcoin will try to renew the lows during the week.
Today forecast
Trading Bounds: $3300 – $4000. Breakthrough below $3300 will send the price to the $3000.
Latest
Bobbi Lee: bottom at $2500 and new rally to $333000 in 2020
According to the founder of BTCC, cryptocurrency exchange, Bobby Lee, by 2021 Bitcoin will be able to show a spurt up to $333,000. This expert posted a series of tweets in which he predicted the dynamics of the main coin movement over the next few years.
Bobby Lee believes that in January 2019, Bitcoin will show a fall to $2500, this mark will signal the achievement of the bottom. Then, by the end of next year, we will record a period of extremely low activity of holders of digital assets.
The new rally will start at the end of 2020 and reach a peak in December 2021, when the main coin will overcome the $330,000 mark. We will see the rally peak at $333,000, but in January 2023, Bitcoin will again fall to $42,000.
Such an explosive growth of the largest cryptocurrency will allow it to become more valuable than gold. At
However, note that just a few weeks ago, when Bitcoin showed a fall, Bobby Lee, on the contrary, stated that the coin could collapse to $3,000.
“If history repeats perfectly, then the current bear market for #Bitcoin would bottom out at $2,500 next month, in Jan 2019.
And then the next rally would start in late 2020, peak out in Dec 2021 at $333,000, and then crash back down to $41,000 in Jan 2023.
Something like that?” - @bobbyclee
Bitcoin Today: suspicious transactions and the date from SECPrice
New lows prior to the weekend. As was expected, the descend to the $3500 triggered sell-offs which brought the price to the $3300 at this moment. It is worth noticing, that the opening of the $3000 - $3500 zone pumped up volumes, seems that there are believers that $3000 will fit for the bottom and price will start to make a turnaround at this level. So, for now, support is $3000 - $3300 zone, resistance – Bearish Line and $3700, all movements below $3700 will fit into the downtrend scenario.
Lately, news background was saturated with “suspicious large BTC transactions” news, could this be the first glimpse of the reversal, or investors were trying to sell the last holdings on the OTC markets before the further crash, only the time will show. The only truth is that we know is that $3000 is psychologically cornerstone level, turnaround on such oversold lows could bring some significant rise and breakthrough of this level could break-down the market.
Today forecast
Trading Bounds: $3000 – $4000. Breakthrough below $3000 – possible panic and collapse. Rise above $4000 could ignite buyers and elevate the price couple levels up.
Latest
SEC will decide on Bitcoin ETF until February 27, 2019
The US Securities and Exchange Commission (SEC) issued a notice stating that consideration of a decision on an application to start Bitcoin-ETF from VanEck and SolidX with the assistance of CBOE will last until February 27 of next year.
According to the SEC rules, the period for consideration of this decision cannot be extended yet. Thus, the Commission will use the maximum of the allotted time, and February 27 will be the final date for the decision on this application.
“The Commission finds it appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider this proposed rule change. Accordingly, the Commission, pursuant to Section 19(b)(2) of the Act, designates February 27, 2019, as the date by which the Commission shall either approve or disapprove the proposed rule change (File No. SR-CboeBZX-2018-040). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.”
According to representatives of the SEC, to date, the Office has received more than 1600 comments on this application.
