Bitcoin price at $16K and beyond? Here are the bear and bull cases
After passing $16,000, most analysts are optimistic about Bitcoin’s short-term outlook, but some are worried about a potential correction. The price of Bitcoin (BTC) surpassed $16,000 with relative ease on Nov. 13 and has remained resilient above it. Analysts are divided on the short-term outlook on BTC because the momentum remains strong but there are concerns of an overheated rally. But there are numerous positive developments that could continue to sustain the uptrend of BTC.Generally, the cryptocurrency market has seen an increase in trading activity across all types of exchanges.....
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Following up on the weekend look at Bitcoin’s long term price chart, we will look again today at the long term (8 day candle) chart of BTC, per Kraken. Over the weekend we looked at a Bull Setup. As we saw, that setup suggests a bull move that will likely last several more months. But of course, it goes without saying that there are both bulls and bears in the market at pretty much any given moment. I expect that is well understood by everyone reading this article. So, it is not enough to just look at a bull setup as we did in my last article. We want to gauge bear strength also. So let’s....
The price of Bitcoin has stabilized above $18,000 and broken out of the critical $18,500 level. Analysts discuss short-term bull and bear cases. There are both bearish and bullish scenarios for Bitcoin in the foreseeable future. The bear cases surround two key data points: rising BTC deposits from whales to exchanges and BTC’s lack of retests of crucial support levels. The bull cases are based on HODLer activity, address activity, the market capitalization gap between BTC and gold, and the favorable technical structure of Bitcoin.Bitcoin surpassing $18,500 is critical for its near-term....
Analyzing Federal Reserve policy decisions in addition to data from the purchasing managers’ index can give us three scenarios for the bitcoin price.
Bitcoin has long been characterized by its cycles of bull and bear markets, each marked by the trajectory of its price movements. However, the crypto appears to be in a transitional phase, according to a CryptoQuant analyst under the pseudonym CryptoHell. CryptoHell has recently shared insights into Bitcoin’s current market cycle, providing investors with key indicators to watch during this period. Related Reading: Is Bitcoin Heading For A Bear Market? Analysts Weigh In On The Price Struggles Understanding The Bitcoin Bull-Bear Transition Phase In a recent post on the CryptoQuant....
Do Bitcoin's market cycles depend on its structure as an asset, human psychology, or both? Since its launch approximately 12 years ago, Bitcoin (BTC) has seen a number of bull and bear cycles, each greater than the last. What drives these cycles, however? Decred co-founder Jake Yocom-Piatt claims that the answer lies within the human brain. “Bitcoin’s bull and bear cycles are functions of generic human psychology, attention spans, and its deterministic and diminishing issuance,” Yocom-Piatt told Cointelegraph.Over the years, various parties have argued different cases for Bitcoin’s cycles,....