Bitcoin Bounces Back Before Hitting 2017 Peak, Is The Bottom In?
The price of bitcoin had dropped dangerously close to the 2017 cycle peak on Wednesday. It was a brutal decline for investors who watched their BTC portfolios incur losses after losses. Speculations were rampant in the space on what a touch below $20,000 would have meant for the market. The implications were abundant in their impact but the recovery back above $21,000 has staved off the bears, if only for a little while. Is The Bitcoin Bottom In? After the market recovery on Wednesday, it has become apparent that there has been some intervention in the market crash. With bitcoin in the....
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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....
Bitcoin. The bottom. Are we there yet? Several higher timeframe metrics suggest BTC’s real bottom will be somewhere around $10,000. Bear markets have historically been challenging to navigate for traders and the conventional set of "reliable" indicators that determine good entry points are unable to predict how long a crypto winter might last.Bitcoin’s (BTC) recent recovery back above the psychologically important price level of $20,000 was a sign to many traders that the bottom was in, but a deeper dive into the data suggests that the short-term relief rally might not be enough proof of a....
Liquidations have rocked the space as the price of Bitcoin has fluctuated between red and green in the last week. Since the price had been crashing for the major parts of last week, the liquidations have been heavily skewed towards long traders. This trend has now changed as short traders’ liquidations have ramped up in the past week owing to recovery above $20,000. Short Liquidations Ramp Up Coming out of the weekend, the price of bitcoin has been doing much better than it was during the weekdays. This has now turned the tide of liquidations towards the short traders. These sorts of....
You can’t keep a good decentralized, peer-to-peer, global digital currency down. After a turbulent first month of 2017, Bitcoin closes January strong and gets back to a net gain for the month. Bitcoin Price Pares 2017 Losses. Bitcoin price always seems to struggle at the start of any calendar year, and January of 2017 was no different. Bitcoin had threatened the all-time price record during the first week of 2017, reaching a high of $1,153 USD on the 5th. However, over the next 48 hours, the price bubble bursts, and Bitcoin lost over 25% of its value. Just one week after its 2017 peak,....
Billionaire Mike Novogratz has warned investors to not expect much of a recovery in bitcoin anytime soon. Novogratz who serves as the CEO of the digital asset merchant bank Galaxy Digital has always been a big proponent of Bitcoin and its advantages. However, he has recently shared his thoughts on the current market climate and what investors should be expecting in the coming days. Confidence Will Take A While The recent market crash has seriously impacted investor faith in the cryptocurrency market. As such, sell-offs across digital assets such as bitcoin have been rampant. Sentiment has....