Majority of Crypto Investors Never Experienced Bear to Bull Transition

Bitcoin has now been in existence for over a decade, and the larger crypto market has now been through a few market cycles despite being a relatively new financial asset and emerging technology.
It wasn’t until Bitcoin’s media-fueled meteoric rise and the ICO explosion that put crypto on the radars of the mainstream public during the 2017 bull market. With so many crypto investors being pulled into the 2017 crypto bubble, the majority of crypto investors in the market have never witnessed a market cycle transition from bear, to bull, and have never experienced the beginning stages of a bull market.
80% of Crypto and Bitcoin Investors Bought In Around 2017 or Later
Markets cycle the same way across all any asset class. After peak exuberance and hype comes a crash that brings on anger, despair, and depression. And as was the case with the crypto market as Bitcoin rallied out of lows to over 100% gains in the matter of two months, as a bear market ends, investors are left in disbelief, are hesitant to pull the trigger, and still suffering from the crypto bear market version of post-traumatic stress disorder.
Related Reading | $10,000 Bitcoin Price Key Level To Trigger Widespread Public FOMO
Such is the case with the majority of crypto investors, as a new poll from leading exchange Binance via their Twitter account, where they polled users as to when they first entered the crypto market. The account cheekily pushes investors to “be honest,” making light of the influx of retail investors who bought the top of the bubble and were forced to “hodl” through a long, arduous bear market.

When did you buy your first #Cryptocurrency? (Be honest )
— Binance (@binance) June 9, 2019

According to the poll, which received a staggering over 40,000 votes, more than half of crypto investors who responded bought their first cryptocurrency in 2017. A grand total of 58% of respondents voted this way, with the remaining 42% split across those who got in after 2017 in 2018 and 2019, as well as those who got in in “2016 or earlier.”
This means that only 20% of all respondents ever experienced a bear market cycling into a bull market, which could explain why most crypto investors are experience such disbelief, and are confused as to where the market will move to next.
The remaining 80% of investors entered the space in the second half of the last bull run, only to experience what it’s like for a bubble to pop and the majority of the assets traded across the crypto market feel as much as 99% from their all-time high amidst the hype.
Related Reading | Next Bitcoin Bull Run Will Be First Cycle Supported By Established Financial Firms
While the poll does demonstrates how “green” crypto investors are, it also clearly highlights just how early it is as an asset class and emerging financial technology.
Featured image from Shutterstock
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Source: New

Bitcoin [BTC] Falls Below $8300: FOMO Comes to End as Analysts Extend Bearish Target

Bitcoin [BTC] nearly touched $9100 on 31st May 2019 before after which it went through a swift fall to a low near $8000. Hence, while Bitcoin [BTC] did break-out of the ascending triangle it has fallen back to test the breakout level.
BTC/USD 4-Hour Chart on Bitstamp (TradingView)
The price of Bitcoin [BTC] at 3: 15 hours UTC on 31st May 2019 is $8264. It is trading 4.37% lower on a daily scale. The total market capitalization of Bitcoin fell below $150 billion.
There was evident FOMO in the market above $8700, with the price breaking new highs almost every week in the past month. Peter L. Brandt expressed the sentiments in a tweet.
“Was today’s correction enough to shake the monkeys (FOMO buyers) from the trees?”
Also Read: Bitcoin Battling $9000 – Analyst Thomas Lee Predicts Real FOMO Level in the Bitcoin Market
He also suggested that there might be more downside to it, with targets given at $7881 and $7467. Earlier, he had almost correctly predicted the swing trade buy on Bitcoin, which could turn extremely bearish.
BTC/USD Price Analysis (Peter Brandt)
A pullback in Bitcoin [BTC] prices was due for a long time. Nevertheless, if the increased demand remains intact, the orders will be filled by people looking to buy the dip. B.Biddles who is bullish in Bitcoin [BTC] tweeted in a small hint,
“So the gap fill crowd is bullish now right?”
While the parabolic rise looks like has come to an end, a correction in price only natural of any asset. However, there are traders like Tone Vays who were expecting about 30% pullback from $8700; a fall to around $6090. Moreover, according to Vinny Lingham, a drop below $6200 would revive the bearish movement experienced during the beginning of the year.
On a further bearish note, a rising wedge pattern has been recognized in the daily chart on Bitcoin [BTC] might break down soon. Furthermore, the MACD is bullish on a weekly chart, but bearish in on a daily and 4-hour chart.
BTC/USD 1-Day Chart on Bitstamp (TradingView)
Do you think that Bitcoin [BTC] will recover above $8300 or we’ll see a downside? Please share your views with us. 
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Source: CoinGape

Log Scale Monthly Bitcoin Price Chart Suggests Bear Market Was an Uptrend Pullback

Bitcoin price has recently found the bottom of its bear cycle, and has since shown a strong reversal back into a bull market that has taken many by surprise as to how much the price of the first ever cryptocurrency has risen in such a short time following what will go down in history books as the longest bear market on record.
One reason for such a fast and powerful rebound into bullish price action, according to the log scale monthly Bitcoin price chart, is because the entire bear market was nothing more than a “pullback in an uptrend” and much needed consolidation before the digital asset could resume its parabolic climb.
Bitcoin Bear Market Never Happened, Healthy Pullback in Bullish Uptrend
Bitcoin price trajectory is often described as parabolic. During the height of the 2017 bull run, the price of the leading crypto by market cap went media-fueled parabolic tear that took the price of the asset to its all-time high of $20,000.
After that parabolic ascent was broken, an 85% decline followed, but as soon as the target was hit, Bitcoin was back off to the races, ready to restart a new bull run. The moment bearish sell pressure waned, Bitcoin again went parabolic, taking the price of the cryptocurrency from $4,200 to a recent high of nearly $8,400.
Related Reading | Crypto Technical Indicator Gives 5th Ever Parabolic Signal
Price action suggests more upside movement is ahead, but how fast the crypto asset has risen from the depths of the bear market has left most investors in shock and disbelief. But the fast resumption of bullish momentum could suggest more is at play.
Front-running the upcoming halving is one theory, as is an increase in buying over US and China trade war fears. However, it could be explained by looking at monthly Bitcoin price charts on the log scale, which according to crypto trader Desperately Seeking Dusan, shows that Bitcoin has never left an uptrend, and instead is simply experiencing consolidation before another movement upward.

All a matter of perspective… if we look at this log monthly chart, it's simply been a pullback in an uptrend… on a daily basis, some consolidation was needed, nothing can go parabolic without stopping (or crashing badly again which is worse)
— Desperately Seeking Dusan (@SeekingDusan) May 22, 2019

The trader adds that “nothing can go parabolic without stopping” or “crashing badly,” which Bitcoin in fact did in early 2018. Now that the asset has experienced healthy consolidation, the upward trajectory is expected to resume, taking the price of the digital asset to a new all-time high in the coming months.
Related Reading | Bitcoin Price (BTC) Still In Bull Trend According to MACD, Accumulate During “Correction”
This isn’t the first time a crypto analyst has called the brutal bear market of 2018 nothing more than a “correction” in a bull trend. Long-term chartist Dave the Wave claims that the MACD never fell below the zero line, suggesting a dip into bear territory was never achieved.
As Desperately Seeking Dusan points out, it’s “all a matter of perspective.” When looking at Bitcoin, it’s wise to look at the long-term potential of the asset, which could eventually reach a value of $100,000 to millions in the future.
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Source: New

Did Bitcoin [BTC] Bear and Accumulation Phase Shorten From 2015 by a Year?

Bitcoin has been divided into 4-year cycles, it is an intrinsic property of Bitcoin in which the miner rewards are reduced by half every four years to make Bitcoin deflationary. Currently, the inflation on Bitcoin is above 3.5%.
Since we’re still in the early phases on Bitcoin, only two halving events have been conducted until now, in 2012 and 2016. The current mining reward for validating a Bitcoin is 12.5 BTC. It will be reduced to 6.25 BTC after the halving event coming next year.
Analogy Between the Bear and Bull Cycles of 2014 and 2017
Furthermore, market sentiments have also followed the halving event very closely in the past. The price grew exponentially in 2013. The 2016 halving event was a significant driver of growth in the last bull and bear run of 2013-2015. Nevertheless, post that event there was a 57-week bear market followed by around 65 weeks of accumulation.
Also Read: Bitcoin [BTC] Price Cycles Replicated Until Now, $50000 Target Predicted by Peter Brandt
2014-2016 Bear, Accumulation and Bull Phase in Bitcoin [BTC] (TradingView)The 2017 bull market recorded over 5700% gains from $300 levels to $19500. The bull market ended at the beginning of 2018 in January after the trend reversal started to pull the price downwards. The bottom being identified in a graph suggests the end of a bearish trend. If $3150 if the bottom identified in this cycle, then the bear market was shortened slightly by a couple of weeks; it lasted for 52-weeks.
Nevertheless, as soon the bottom was suggested by the analyst, the accumulation seems to have ended sooner than before. Dovey Won, crypto-analyst and founder of Wheatpond, shared an analogy about the current correction from 2015 which takes us 5 months ahead of accumulation phase in 2015. Furthermore, the previous bull run in 2016 began during the month of May itself.

History doesn't repeat itself but it often …
… Rekt you the same way 😭😭
— Dovey Wan 🗝 🦖 (@DoveyWan) May 17, 2019

Many analysts have confirmed that the bull market might have begun with Bitcoin breaking above two times the bottom value ($6300). It also broke above key resistance at $6400 like putting ‘knife in hot butter.’ Moreover, it also agrees with the market sentiments as the optimism toward Bitcoin is higher this time around.
Furthermore, the uncertainty over the regulatory ban and zero value FUD created during the past are a thing of the past now with Institutions like Fidelity, Bakkt, TA Ameritrade, eTrade and SquareCash stepping in to fill the demand for cryptocurrencies.
Do you think that the bull run has begun as well? Please share your views with us. 
The post Did Bitcoin [BTC] Bear and Accumulation Phase Shorten From 2015 by a Year? appeared first on Coingape.
Source: CoinGape

Inverse Chart Demonstrates Bitcoin Price Following Bear Bottom To Bull Market Fractal

The leading cryptocurrency by market cap has only been around for just over a decade. Due to this, there isn’t much history in Bitcoin price charts to attempt to discover historical repeating patterns that can be used to help determine future movements.
The best example of a previous bear into bull market cycle playing out, can be found in the charts of the 2014-2015 bear market bottom, where the price of Bitcoin bounced hard into a new bull market after the final capitulation candle occurred. According to an inverse Bitcoin price chart, the current bear market bottom transforming into a bull market pattern is closely following a fractal from the 2014-2015 bear market, and it could help crypto analysts predict the upcoming price action as bullish momentum picks up steam.
Last Bear Cycle Fractal Shows Bitcoin Price Has More Runway Ahead
When there’s an air of bias across the market, either due to extreme FUD or FOMO, many crypto analysts and traders will flip a price chart upside down, in order to remove any preconceived bias from their analysis. These inverse price charts can often lead to the discover of new patterns.
In a pair of inverse Bitcoin price charts shared by crypto analyst FilbFilb, the two images compare the last bear market bottoming into a bull market transition cycle, and how it stacks up against what’s currently happening across the crypto market. The two charts are eerily similar, and show a parabolic rise coming out of a bottoming structure.

While i know i have said that there could be a $btc bull trap then lower to $5k, i need to share this.
If you think that we will do the latter part of the chart dont gamble entirely on $5k coming along and gifting you the accumulation.. Think longer term and dont be greedy.
— fil₿fil₿ (@filbfilb) May 17, 2019

At the height of the parabolic rise is a long wick, showing that the price reversed and fell sharply from the local high, much like what happened overnight last night, as Bitcoin fell from near $8,000 to $6,600 in the matter of a few minutes.
After that, the price of the first-ever crypto asset took a pause for consolidation, then went back on a parabolic tear, causing Bitcoin price to grow more than 1,000% from the cryptocurrency’s bottom over the next nine months.
Should a similar spike occur, and the price per BTC grow 1,000% from the Bitcoin price bottom of the recent bear trend, it would take the asset 50% above its previous all-time high of $20,000 and set a new record for the cryptocurrency at above $30,000.
Fractals are patterns that repeat on the charts of a financial instrument, like Bitcoin and other cryptocurrencies. These fractals are usually a result of how humans emotions repeatedly play out, or are due to trading bots and their algorithms executing repeating trading strategies that are effective.
Related Reading | Why The Next Bitcoin Bull Run Could Eclipse The Last Crypto Bubble 
Whatever the reason behind the fractal, if it plays out, Bitcoin will reach a new all-time high this year, and help take the crypto market to new, unimaginable heights.
Featured image from Shutterstock
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Source: New

Bitcoin Bulls Are Back: 40 Days of Uptrend Erases Nearly 8 Months of Bear Market

As the bullish Bitcoin rally continues and shows no signs of slowing, the entire crypto market has erupted with charts, thoughts, and speculation.
The powerfully bullish price momentum has caused much FOMO across the space and has helped carry the price of the leading cryptocurrency by market cap upwards towards $8,000, after breaking through $6,000 – resistance that was expected to be incredibly difficult to break – and $7,500 like a hot knife through butter. The parabolic uptrend that reenergized the crypto market has now in just 40 days of bullish price action, erased all of the damage done in nearly 8 months of bear market.
“Mental” Large Scale Bitcoin Price Recovery Undoes 8 Months of Bear
According to prominent cryptocurrency analysts GalaxyBTC, the last 40 days of bull market – if we are indeed in the midst of a bull market – has been enough to completely erase full 235 days of bear market, or nearly eight full months of bearish sell pressure deleted in just over a month of buying.

The large-scale price recovery is mental.
235 days of bear market already erased in the last 40 days of bull.
And this time without massive media coverage, ico craze or heavy dumb money flowing in.
Just pure fundamentals. #bitcoin
— Galaxy (@galaxyBTC) May 12, 2019

The early April rally that sent the price of Bitcoin climbing $1,000 within an hour took a short pit stop between $5,000 and $5,800 before breaking through $6,000 and swiftly climbing higher to just under $8,000 – the next resistance level Bitcoin is currently flirting with.
Related Reading | Bullish: Crypto Community In Shock Over Recent Bitcoin Price Resilience
The rally from $4,200 to current levels, undid nearly eight months worth of bear market, dating back as far as August 2018.
The analyst points out, what makes this rally more interesting is the lack of media frenzy, ICO craze, or “dumb money” flowing into the crypto market, driving up prices, as was seen at the end fo the 2017 hype bubble that led Bitcoin to its all-time high of $20,000 per BTC. Much of the buying is said to be the result of institutional interest increasing, and systematic buying from “smart money” and other major players who have been accumulating Bitcoin since yearly lows were set.
Since the yearly low was set back in December 2018, the price of Bitcoin has more than doubled in value, suggesting that the bottom has indeed been set, and that Bitcoin has exited accumulation into the next bull run and market cycle.
Related Reading | Crypto Analyst: Bitcoin MACD Histogram More Extended Than During Previous Bull Cycle
Most didn’t expect Bitcoin to reach current heights so soon after printing yearly lows and after the longest bear market on record. What started as a disbelief rally has gone full parabolic, and already has many revisiting past price targets well above Bitcoin’s last all-time high of $20,000, with many suggesting a new all-time high could be set before the end of the year given the FOMO felt across the global crypto market.
Featured image from Shutterstock
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Source: New

Bitfinex Premium on Bitcoin Reminiscent of Mt. Gox’s “Good Old Days”: Vinny Lingham

Vinny Lingham, a leading trade analyst recently suggested a very ominous theory about the ‘Bitfinex Premium’ being charges for over a week now. It refers to the surcharge on Bitcoin being explicitly charged on the Exchange.
The ‘Bitfinex Premium‘ at 12: 40 Hours UTC on 4th May 2019 is around $320 w.r.t Coinbase and Bitmex. It is about 5% of the weighted average of the price of Bitcoin on Exchanges. While this has attributed to the rise in the price of Bitcoin [BTC], it makes traders apprehensive due to its consistent abnormality.
BTC/USD 1-Day chart on Bitfinex and Coinbase (TradingView)
It signified that the demand for Bitcoin on Bitfinex is exceeding sell orders will w.r.t. FIAT and other altcoins. Moreover, the arbitrage traders have not been able to sweep the profits from the difference, or they choose to abstain from the Exchange altogether.
Reminisce of the Issue at Mt. Gox?
Either way, while the price is in the green, the abnormality reminisce of one the biggest and most popular Exchange Theft in the history: Mt. Gox.
A lot has changed since then, like significant trading volume, better price discovery methods, and a more significant number of institutions and researchers including Governments that are tracking the blockchain and its price. Nevertheless, in accordance with the economic principle of ‘law of one price‘ of freely traded goods, it raises concerns about the situation at the particular Exchange.
Vinny Lingham, a leading chart analyst, and cryptocurrency trader reiterated this fact in a recent tweet. He said,
“Who remembers when a market premium started forming on Mt. Gox? Ahh, the good old days… “
The tweet is riddled with an ominous irony. The “good old days” Lingham is suggesting points to the early days in Bitcoin from July 2013-January 2014. During the time, the premium at Mt. Gox ranged above 10%. During that time, the price was letting a good story. However, it slowly built up to the destructive crash of 2014; the bear market extended for a year post the event.
Bitcoin Price from July 2013 to February 2014 (CoinMarketCap)
Nevertheless, the percentage of trading at Mt. Gox at that time was considerably higher than Bitfinex’s trade volume when compared to other Exchanges presently. However, the premium issue must be resolved soonly before the market is misled toward a disaster once again.
What do you think are some of the other views and theories about the Bitfinex Premium? Please share your views with us. 
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Source: CoinGape

Is The Bottom In? Bitcoin Price (BTC) Has Nearly Doubled Since Bear Market Low

The current price action across the crypto market, especially when it comes to Bitcoin, has both bears and bulls alike in disbelief. Following the longest and among the most painful bear markets yet, both sides have become accustomed to rallies being swatted down the moment any confidence in the market has returned.
But in recent days, shorts have piled on, while the price has only increased. Bears are being taken by surprise as Bitcoin inches closer to the $6,000 resistance level that once played important support during the first half of the bear market. The current Bitcoin price is trading up nearly double from its 2018 low of $3,150 – does such growth suggest the bear market bottom is actually behind us?
Bitcoin Price Has Nearly Doubled Since $3,150 Bear Market Low
Overnight last night, Bitcoin climbed higher to above $5,700 following an early April rally that sent the price of the leading crypto by market cap up by over $1,000 in the course of an hour.
Most traders and analysts had been expecting a pullback due to overbought indicators, bear divs, and the cryptocurrency being overdue for some consolidation after such a powerful upward movement. Fears and uncertainty surrounding Tether and Bitfinex drama had only added to the bearish sentiment.
Related Reading | Sell in May and Go Away? A Look At Historic Bitcoin Price Performance in May 
But regardless of the confusion and disbelief across the market, the rally continues on. Some crypto analysts attribute the buy pressure to investors fleeing the once safe-haven stablecoin Tether, selling the asset into Bitcoin and other cryptocurrencies to send them off of Bitfinex, and away from potential risk.
Whatever the reasoning is for the continued bullish momentum in Bitcoin price charts, it’s becoming more and more probably that the bear market bottom is behind us, and that a new bull market may be in the beginning stages.
If The Bottom Is Behind Us, Most Crypto Investors Missed Buying It
If the bottom of the longest ever Bitcoin bear market is now in the past, most investors missed their chance to buy it.

$BTC – Volume at Recent Market Bottom
Buyers had major hesitation under $3400 as volume at these levels were the lowest at market bottom
Showing that the majority don't catch the bottom typically due to fear or waiting for lower prices to buy
— Josh Rager (@Josh_Rager) May 2, 2019

According to volume analysis below $3,400 in Bitcoin price charts, volume data shows that buyers were hesitant to buy at the extreme lows. Crypto analyst Josh Rager speculates that most traders missed the bottom either due to fear, or because the most bearish traders were waiting for lower prices – lower prices that never materialized.
Related Reading | Bitcoin Price Has Gained On Average 77% Post-Consensus, Altcoins 161%
While there are still a select few calling for sub-$3K prices in Bitcoin, much of the market has shed their bearish bias, and have since started to consider that a new bull market could be around the corner. With a convincing break of $6,000, Bitcoin can achieve 100% gains in a matter of six months following the final bear market bottom – if it is indeed it – which should signal that bull market type gains are returning to the cryptosphere once again.
Featured image from Shutterstock
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Source: New

Bitcoin Price Surged More In 1 Hour Than Last Two Months Combined

Bitcoin is no stranger to powerful price movements, at times growing or declining in value by 20% to 50% intraday. As the bear market raged on, however, there has been a distinct lack of large green candles representing substantial Bitcoin price increases.
But that all changed this week when Bitcoin rallied, pushing the price of the leading crypto by market cap through resistance at $4,200 to over $5,000, setting the first higher high since its parabolic advance was broken back in December 2017. The violent rally took Bitcoin price higher in value in just one hour, than the prior two months of uptrend combined.
Bitcoin’s April Rally Makes Fool of February and March Uptrend
Prior to the current uptrend that began in early February, Bitcoin had closed a record six consecutive monthly red candles in a row. When both February and March closed in green, bulls rejoiced. However, the most recent Bitcoin rally easily bested both months in terms of value risen in just a one-hour candle, than the prior two entire months combined.
Related Reading | Crypto Community Speculates On What Triggered Massive Bitcoin Price Rally 
The uptrend began on February 7, when the leading cryptocurrency by market cap had neared support at the 200-week moving average, causing a strong bounce that many traders had been expecting. What they didn’t expect, is for the uptrend to continue over the next two months, taking Bitcoin out of the current trading range and above $5,000 for the first time in 2019.
During February, the price rose from a low of $3,350 to a February monthly candle close at around $3,800. In March, the price rose from the February close, slowly, until it touched the previous high at around $4,150 at the close of March. The entire move from early February through the end of March, brought the price of Bitcoin up by $800 in total.
— lowstrife (@lowstrife) April 3, 2019

Yesterday’s rally candle, however, rose from $4,150, before topping out around $5,100, representing an approximately $950 gain in the opening days of April. The total rise in the one hour window grew $150 more than the previous two months combined, or a total of 59 days.
Related Reading | From Banks To Funds To Brokers, Everyone Outside of Crypto Is Talking Bitcoin Today 
April has historically had some of the largest green candles across the cryptocurrency’s price charts, with last April playing host to the massive “short squeeze” that took the price of Bitcoin from $6,700 to over $8,000 in a single move. That rally, was swatted down by bears back to lows, however, this current rally comes as the 2018-2019 bear market winds down, and sellers begin to lose momentum.
Should Bitcoin continue to climb from here, the crypto community will become increasingly confident that the bottom is in, and the next bull run is near.
Featured Image from Shutterstock
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Source: New

Bitcoin Has a Massive $80M Sell Order, But Breaching it Could Lead to a Rally

All eyes are on Bitcoin as it brushes up against powerful downtrend resistance, while straddling the top of the current trading range the cryptocurrency has been locked in throughout all of 2019. While a number of crypto analysts and traders are anticipating a rally, a massive sell order has appeared that is currently keeping prices at bay.
However, should Bitcoin price break through the sell wall, it could provide the rocket fuel for the potentially rally to over $5,000 per BTC that analysts are calling for.
Massive $80M Sell Wall Keeps Bitcoin Price at Bay
Crypto holders with massively large amounts of assets or capital are affectionately called whales, for their ability to create massive price movements whenever they surface. Oftentimes, these whales place extremely large – often millions of dollars worth on order – orders called sell walls, with the goal of holding price to a certain area, or to prevent price momentum from breaching resistance.

$BTC There is now an $80 million wall above the price action once again. That is a hell of a wall and fuel to take us higher. This is not a guarantee that the price will go up but it is a guarantee that there are plenty of sellers to move the price up if there are enough buyers.
— Bleeding Crypto (@Bleeding_Crypto) April 1, 2019

One such whale has placed an extremely large sell order – as much as $80 million dollars – over the current price action as a means to hold Bitcoin’s price at the current level a while longer. These “walls” are sometimes pulled once the whale’s satisfied their selling, or can be used as part of their strategy to spook buyers. Other times the walls are enough to change the direction of a trend, and cause a rally to fail.
Related Reading | Crypto Bull Returns, Predicts Targets For Bitcoin, Ethereum, Ripple, Litecoin 

However, if this wall is eaten through by buyers, it could provide the rocket fuel Bitcoin needs to breach overhead resistance with gusto, and take the leading crypto into a new trading range, confirming the bear market bottom is behind us.
If Bitcoin Breaks the Wall, What’s Next?
Bitcoin has continued to inch ever closer to powerful overhead resistance both due to a combination of normal horizontal resistance and the downtrend resistance line stemming back from all-time high. Due to the convergence of  important lines, the entire crypto market is watching and waiting for the king of crypto’s next major move.
A break of current resistance should fill the overhead volume gap and send Bitcoin to over $5,000, but only if buyers are able to eat through the massive sell wall.
Related Reading | Crypto Analyst: Do Or Die For Bitcoin As Downtrend Resistance Nears Closer 
The last time Bitcoin approached the downtrend resistance line, was back in November of 2018. The last touch of the line resulted in a violent move downward to the current trading range, where Bitcoin set its current bear market low of $3,200.
Since then, Bitcoin has been ranging, while the world speculates if the bottom is indeed in or not. The next moves for Bitcoin could set the trend over the next six months or longer, depending on the move and how powerful it is. Another drop down could see Bitcoin trying for new lows, while a sharp move up could signal the bear market has concluded, which could spark a new bull run in the cryptocurrency market.
Featured Image from Shutterstock
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Source: New

How Bitcoin Could Reach $150,000 in The Next Cycle Peak

All markets move in cycles, and crypto is no exception. The only major difference is that cycles in this market have been more compressed since Bitcoin is just ten years old. There have been three major cycle peaks so far over the past decade and analysts have been using them to predict the next one.
$150,000 BTC by July 2023
The first cycle took 329 days to peak and occurred in 2011 when Bitcoin prices hit a high of just below $32. A bear market followed until the next peak which came in 2014 with BTC prices topping out at around $1,180.
Then came the big downturn of 2014 – 2015 when Bitcoin lost over 80%, as it has done again this time, falling to below $200. The upswing took over 20 months to initiate and began in late 2015 leading to the previous peak of just below $20,000 in the third cycle peak of late 2017.
Crypto analyst Josh Rager has observed these cyclical patterns and concluded that each cycle has had exactly 574 days added to it in order to reach the next peak. Using this figure he has made an attempt at predicting the next peak.

The next Bitcoin cycle should peak out in July 2023 and could reach a price at $150,000 or more per Bitcoin
Cycle Peak Prices:2011: $312014: $1,1772017: $19,7642023: ??? ($150,000+ projected)
— Josh Rager (@Josh_Rager) March 31, 2019

A 574 day addition to the current cycle would put the next Bitcoin peak in mid-2023, 2051 days after the previous one. The price estimate at this peak is around $150,000 which is not entirely implausible looking at the chart patterns.
Bitcoin Halving to Initiate Trend Reversal
This estimation falls in line with other predictions that align a major trend reversal and the end of the crypto winter with Bitcoin’s halving in May next year. The decrease in block reward and supply could compress these cycles with some claiming that a new all-time high will come in 2021.
Either way, the prediction is bullish in the long term but spells more gloom and sideways trading for the rest of 2019. Institutional investors are looking long term though and some, such as New York’s Greyscale Investments, have researched halving events to identify entry points.
Two previous halving events in 2012 and 2016 have been followed by large upside momentum and it is expected that the 2020 one will have the same effect. This could quite plausibly tie in with the cycle peak prediction and create a massive bull run for Bitcoin and crypto markets during 2021 and 2022.
At the moment Bitcoin is still struggling to overcome its four month resistance barrier at $4,200. BTC has hit this level a couple of times recently but instantly bounced off it. Over the past week it has hovered around the $4,100 range but still cannot muster enough bullish momentum to take it further just yet. The longer term outlook does look very rosy though so now would be the best time to accumulate and hodl and unspent transaction output (UTXO) levels seem to indicate that this is already happening.
Image from Shutterstock
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Source: New

Crypto Bear Market Provides Opportunity For Major Corps, As CP Group Acquires Omise

The crypto bear market has been the longest on the record books, causing most cryptocurrencies to decline in value by 85% or higher. While the flight of capital from the crypto market has been brutal for retail crypto investors who bought in at the height of the hype bubble, the bear market has proven to be a unique opportunity for corporations seeking to enter the blockchain or cryptocurrency arena.
The latest example of this was demonstrated by the acquisition of Omise, by Thailand’s wealthiest company, CP Group. CP Group is following the lead of others interested in the space, and are taking advantage of the lowered valuations of these crypto-focused companies during the ongoing bear market.
Thailand’s Richest Company Acquires Omise Payments Firm
According to The Block, Omise, the payments company behind the ERC-20-based OmiseGo, has been acquired by the largest private company in all of Thailand, Charoen Pokphand Group (CP Group). The acquisition was reportedly made for the sum of $150 million, according to sources close to the matter.

The 4th richest family in Asia has purchased @Omise, the payments firm behind the Top 25 crypto token @omise_go $OMG for up to $150 million, with plans to utilize its payments technology
— Mike Dudas (@mdudas) March 29, 2019

CP Group is owned by the 4th richest family in Asia, the Chearavanont family, and is one of the largest conglomerates across the entire globe. The importance of their interest in the cryptocurrency space cannot be overstated.
Related Reading | Crypto Analyst Expects Multi-Year Bear Market
The Block reports that CP Group Executive Chairman and Fortune Magazine owner Chatchaval Jiaravanon is working to acquire companies that can be used for crypto payments, such as Omise. The crypto projects being sought include an agricultural division.
Omise is among the leading payment gateways in Thailand, which may have sparked CP Group’s interest. OmiseGo, the token used for payments, has already surged as much as 12% after the news broke.
Other Corporations Eye Crypto Projects During Ruthless Bear Market
It’s not just CP Group that’s got their eye on crypto projects in dire need of support following a long arduous bear market. Los Angeles-based investment firm has been scooping up infrastructure companies now that their valuations have nose-dived.
Related Reading | Crypto Prices May Be Down, But Industry Fundamentals Are Healthier Than Ever
“We felt like the best way to make money is to buy the infrastructure companies — the picks and shovels — that are helping build the foundation,” explained co-founder and principal advisor Sheri Kaiserman. “They are coming down in valuation, which is the best part of the crypto winter for us,” she added.
Many corporations are left scratching their head, trying to understand and leverage emerging technologies like cryptocurrencies and blockchain, like the internet before them. During the dot com boom, many companies opted to buy fledgling startups rather than invest in their own infrastructure. Considering this new trend following the bear market, the crypto industry may be witnessing a similar situation across the crypto landscape.
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Crypto Analyst: April Is the Last Month to Buy Cheap BTC, Bitcoin Price Never Again $3K

As Bitcoin’s current trading range tightens and price consolidates ahead of the next major trend-defining move, the entire crypto community is speculating on whether or not Bitcoin price may have bottomed or if there is more pain to come for BTC investors.
One prominent crypto trader and analyst is confident that Bitcoin price will never again trade in the $3K range, and that April will be the last month to buy “cheap BTC.”
Bitcoin Price Bottoming Pattern Suggests Cheap BTC Ends This April
Volatility has all but disappeared in Bitcoin price charts. When this happens, it typically indicates that an extremely violent move is incoming that could set the trend tone for weeks and even months to come.
The last time Bitcoin price went through an extended period of stability, was right before the powerful break of critical support at $6K that brought us to our current trading range. If the touch of the current bear market low of $3,150 was indeed the bottom, the next major movement could be up and send the first ever crypto back on a course of bullish expansion. But if price continues to trend downward, another 50% drop isn’t out of the question.

Although prices may appear to be random (to some), they actually create repeating patterns and trends.
Observing this pattern makes April the last month of cheap $BTC.
And now, of course it will be cheap multiple times in the future, but never $3K cheap. $BTC
— Galaxy (@galaxyBTC) March 13, 2019

One prominent cryptocurrency analyst, GalaxyBTC, however, expects the current trading range to expire starting in April 2019. The analyst’s chart demonstrates the price structure of the previous Bitcoin bear market making three touches of a downtrend line that were violently rejected. After the third touch, BTC breaks through with gusto and reignites the next bull market with a slow, yet steady ascent.
Related Reading | Poll Reveals Majority of Crypto Investors See Bitcoin Price at $100,000 to Millions Long-Term
Comparing the current bear market BTC price structure, the trader believes there will be a final rejection when Bitcoin touches the downtrend line once again in the coming days, followed by a final swing up that breaks through the downtrend resistance and restores confidence in the market.
The first touch of the downtrend was created when Bitcoin’s parabolic advance was broken in late December 2017, and the most recent touch was when Bitcoin exploded below $6K. The third and final touch before breakout is expected any day according to GalaxyBTC’s charts.
Bitcoin Price: BTC Never Again Below $3K
Not only does the trader expect the end of “cheap BTC: to come to an end in April, which is only a mere month away at this point, the crypto analyst also believes that this marks the last time Bitcoin will ever trade in the $3K range.
He further clarifies that while Bitcoin will occasionally reach other price points that can be perceived as “cheap,” the price per BTC will never again be “$3K cheap.”
Related Reading | Crypto Comeback: One Simple Chart Proves Altcoin Season Is Upon Us
Bitcoin’s current bear market bottom reached $3,150 and made a quick bounce. Since then, the price hasn’t retested what appears to be the ultimate low, suggesting that those who missed out on buying that low will be forever waiting for their opportunity to buy the elusive BTC price bottom.
Featured image from Shutterstock
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Source: New

Bitcoin In Longest Uptrend of Current Bear Market, But Analysts Expect New Lows

Ever since Bitcoin fell to its most recent local bottom of $3,400 back on February 6, 2019, the leading cryptocurrency by market cap has been in the longest stretch of uptrend since reaching its all-time high of $20,000.
But as bullish momentum struggles with key resistance at $3,900, crypto analysts are calling for a break to new lows and trading zone before the bear market is truly over.
Analyst: Bitcoin in Longest Uptrend of Entire 2018-2019 “Correction”
Since Bitcoin’s parabolic advance was broken in December 2017, there have been numerous peaks and troughs in Bitcoin’s price charts, however, no other uptrend thought the 2018-2019 bear market has been as long as the one the market is currently in.

The longest uptrend in this correction so far… and counting.
— dave the wave (@davthewave) March 11, 2019

As was pointed out by crypto chartist and analyst Dave the Wave, who is known for watching longer-term indicators such as the weekly MACD, Bitcoin has been trending upward ever since the cryptocurrency bounced off the local low of $3,400 on February 6, 2019.
The current uptrend has lasted 33 days, where as four out of five uptrends during the 2018-2019 bear market didn’t even last 30 days. Only one uptrend, if you can call it that, lasted over 30 days and that was the final 32-day-long uptrend that ended with a break of critical support at $6,000 that took us into the current trading range.
Related Reading | How Rising Bitcoin Holdings of May Push BTC Price Up Significantly
It’s worth noting that Dave the Wave refuses to call Bitcoin’s price action over the last 14 months a “bear market,” and instead suggests that the first-ever cryptocurrency is only in a “correction.”
Dave the Wave’s previous analysis of the weekly MACD suggests that Bitcoin never fell below the indicator’s center point into bearish territory and has since started to point up. However, a contrarian stance might fear that the lack of crossing over could mean that the current “correction” could further deepen.
Does the Bear Market Have Another Leg Down? Here’s What It’ll Look Like
As for what a deeper decline might look like, crypto analyst Sir Bitlord has shared a chart that compares the final drop of the 2014-2015 Bitcoin bear market, helping to paint a picture of where the market might take us next.

Happy Sunday folks $BTC
— Sir ฿itlord (@Crypto_Bitlord) March 10, 2019

During the 2014-2015 bear market, Bitcoin attempted to make a move up, but couldn’t break overhead resistance, causing the crypto asset to fall further into its final trading range. If the same fractal plays out in the current bear market, the recent rejection at $4,200 may result in a steep selloff to $2,370, according to the analyst.
Related Reading | Poll Reveals Majority of Crypto Investors See Bitcoin Price at $100,000 to Millions Long-Term
After Bitcoin reached its final trading range, it was stuck there for nearly nine months before another attempt at breaking up was finally successful, and bow was put on the previous bear market.
Featured Image from Shutterstock
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Source: New

Crypto Market Wrap: Could Cooling Off Lead to a Weekend Dump?

Crypto markets cooling as we end the week; EOS drops to fifth, IOTA and NEO still buoyant, surges.
Market Wrap
There have been no further gains on crypto markets over the past 24 hours and they appear to be starting a pullback as we round out the week. Total market capitalization has remained over $130 billion but red is starting to infiltrate the charts indicating that this run at least could be over for now.
Bitcoin hit $3,940 again but that was as high as it got and heavy resistance forced it back down again. Generally there has been very little movement in BTC prices over the past day and it has dropped back a little to $3,915 where it currently trades.
Ethereum has also started to break down over the past day as it drops almost 2% back to $137. ETH prices are back to where they were this time last Friday after a Monday dump to below $130. XRP has been even weaker as the market cap gap expands again to $1.4 billion. The Ripple token as dropped another 1.5% taking it back to $0.314.
Every crypto asset in the top ten is red during today’s Asian trading session. EOS, Bitcoin Cash and Tron are dropping the most at almost 3% each. Litecoin has retaken fourth spot as it remains relatively stable on the day, however the gap between LTC and EOS is only $50 million so a reflippening could occur soon.
There are a couple of beacons of green in the top twenty at the time of writing. IOTA is making a rare move upwards with almost 3% added and Bitcoin SV and NEO are close behind with a 2% gain on the day. Ontology is still bullish with a 5% climb today but the rest are falling back marginally.
FOMO: Chain Climbing
CRO is getting a big pump today as it surges 44% to $0.020. Daily volume has over doubled to $600 million as the new Chain token gathers momentum with crypto powered Visa cards. The firm has just hired Rovio Executive, Kasim Zorlu, to the leadership team as SVP Head of Growth to drive customer acquisition.
Enjin Coin is also spiking at the moment with 40% on the day as the gaming platform continues to expand. Aurora is not far behind with a 32% fomo pump. There are no double digit dumps going on at the moment in the top one hundred but ABBC Coin is cooling off after its epic surge as it drops 8%.
Total market cap 24 hours.
Total crypto market capitalization has remained the same as these low cap coins do not really impact the market as a whole. A slight decline has dropped cap back to $133 billion but daily volume has remained high at $30 billion. Could this cooling lead to another dump over the weekend? Resistance remains strong so it is very possible.
Market Wrap is a section that takes a daily look at the top cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals.
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Source: New