Where will the Bitcoin Price Bottom Out?
I have been asked both publicly and privately to speculate as to when and where the price will bottom. Speculation of that nature is risky, because it is so very easy to get the forecast wrong. Unfortunately, the nature of the internet audience is such that even if the forecast pans out, trolls will say it was a "lucky guess," or otherwise find a reason to minimize that success. On the other hand, if the forecast proves to be mistaken, the mistake will be loudly heralded as proof positive that the analyst knows nothing at all. However, there is a place in price-time which is increasingly....
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It’s possible that the bitcoin price reached a bottom already, but macro headwinds may take it lower. Only time will tell if the bottom is in.
People are wondering when and at what price bitcoin will bottom and there are many opinions on this matter. This article will not explore a certain price or date when bitcoin will bottom but some of the characteristics that need to be shown to know that a real bottom in place. Instead, this article will explore the concepts of panic selling and capitulation as well as what a bottom will look like if these things occur. To date, you have not seen either of these things play out in the bitcoin price, as the selling has been very orderly for quite a while. Essentially, capitulation comes from....
With bitcoin rallying, all the focus has been on predicting where the price of the asset will be by the end of the year. The digital asset is undoubtedly going to enter a period where various crashes will send the price down, popularly known as a bear market. Not a lot of attention has been paid to where the price of the asset might bottom out when the market inevitably goes into another bear market. This usually long stretch of low momentum has seen bitcoin lose 94%, 87%, and 84% of its peak value respectively in the last three bear markets. One recurring theme of the bear markets has....
Many successful traders look for double bottom and W bottom reversal patterns on technical charts in order to spot powerful price reversals. Trading in the direction of the trend is one of the best ways to be profitable. If traders learn to spot a new trend early, it provides an opportunity to buy with a good risk to reward ratio. In addition to identifying a trend, traders should also be able to recognize when it has reversed direction.While several patterns signal a possible trend change, one of the easiest to spot is the double bottom pattern. This can help traders change their strategy....
Bitcoin has now started another recovery trend that has seen it mark its position above $30,000 once more. This is a welcome development after the market had seen various crashes that have sent investors into a panic. However, while investors heave a sigh of relief as the digital asset has begun to recover, other concerns have arisen in the market, including if the uptrend will continue and if bitcoin has already seen the bottom of this crash. Did It Mark The Bottom? The recent comeback has indicated that bitcoin has either marked the bottom of the dip or may be well on its way to posting....