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Bitcoin bull run momentum builds up; price breakout imminent - Global Coin Report
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Bitcoin bull run momentum builds up; price breakout imminent

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Bitcoin
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There is no doubt that Bitcoin is the most significant and largest success story in the cryptocurrency sphere despite the volatilities the powerful digital coin has been experiencing this year. 2018 has been a rough year for major cryptocurrencies including Bitcoin that has seen the prices of the virtual currency depreciate from a high of 20,000 US dollars in January 2018, to a low of 6,400 US dollars in October 2018.

Regardless of not much powerful performance, Bitcoin still maintains being the most sought-after virtual currency in the market. In totality, Bitcoin had a price appreciation of about 150,000 percent from its listing in July 2010 to the present day.

Bitcoins Brief Historical Evolution

In its lifetime so far, the number one ranked cryptocurrency has had its fair share of mixed bear runs, and bull runs throughout the years with the longest bear run being experienced in March 2014 and March 2015. However, in its history of up and down price progression throughout the years, gains have outweighed losses and Bitcoin has managed to record impressive highs of 20,000 US dollars as at December 2017.

As for this year, 2018 has been a nightmare for Bitcoin as its bullish gains have been low, recording shorter runs that have given rise to general losses attracting undue media attention from the general public and governments.

The Future of Bitcoin by Market Indicators

According to technical perspectives regarding Bitcoin price movements and its predictions that have been counterintuitive, it has come to the attention of many that historical data-based analysis has been misleading the crypto community abnormally. The descending triangle is one of the many examples that has been misleading the masses that usually represent a price surge forecast.

According to Bitcoin’s market research, the descending triangle has been found out to usually break the bearish forecast that more likely is replaced by price surges throughout Bitcoin’s sequence. This sparks the question of whether cryptocurrency market analysts have been following and improperly studying the triangle.

Bitcoin

Bitcoin price chart as of Oct 19, 2018 | Source: Coinmarketcap.com

Considering this analysis, Bitcoin’s current triangle is depreciating, an indication of a future price surge in the offing, especially in the first days or weeks of 2019. This prediction and expected trend go in contradiction of the laws of statistical analysis that overthrow counter-intuition issues that can beget a forecast that foretells a bull run for Bitcoin in the early days of next year (if not now).

Also, there is a case for Bitcoin bullish price surge. There is a significant relationship between Bitcoin’s association with the descending triangle pattern and the 200-day moving average, also known as DMA.

The depreciating triangles are formed when lower highs of a series of price movements are connected. Although Bitcoin is exchanging again in a tightening price range that is slightly above 6,400 US dollars, the lateral exchanging may soon give way to a bull run, according to a market analysis by some analysts.

The price consolidation comes after this week’s big spike that took place on Monday recording a three-week high of above 6,800 US dollars. The Monday’s big spike weakened the bearish case that was put forward by last week’s violation of key support that took place on Thursday.

So far, analysts predict a bullish follow-through is expected to take place although it is yet to materialize, possibly because traders are waiting for a more credible and convincing bearish invalidation.

Another factor that is standing in the way of a potential bull run is the number of major key resistance levels.

Should Bitcoin manage to solve and clear these key hinderances, buyers may feel more comfortable into trading given that the cryptocurrency market would bottom out again at the 21-month EMA support levels that could see the prices appreciating towards long-term falling trendline resistance levels of above 7,000 US dollars.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of RonBerg/PixaBay

Bitcoin

Why Bitcoin (BTC) Revival is Likely to Continue

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Bitcoin (BTC) revival
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The cryptocurrency market has been doing rather well in 2019 — certainly much better than in 2018. More than a year ago, the market crashed from its all-time high, and in the months that followed, it lost over 80% of its market cap. Bitcoin (BTC), as the leading digital currency, also dropped from $20,000 per coin to barely $3,200 in 2018.

These days, however, the situation seems to be turning, with digital currencies seeing significant growth in prices ever since mid-February. While January stopped the drops, February is the month when the market once again started seeing gains, and this kind of behavior has continued to this day. But, what does this mean for the future? Is this a passing trend, or is the crypto winter truly over?

The revival of Bitcoin

Questions such as the short-term future of Bitcoin are on many traders’ and investors’ minds right now and have been ever since the prices started growing again. A well-known Futures Now trader, Jim Iuorio, recently stated that Bitcoin would start seeing massive profits if it surpasses the price of $4,045. That was, of course, before the coin surged by around $1000 in the last week.

However, Iuorio’s prediction was that BTC is unlikely to go below $3,820, while the growth beyond $4,045 would mean massive gains for those involved with the industry. Soon after this prediction…

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How to Become a Millionaire without Risking Everything with Bitcoin

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It’s been well over a year since the crypto market reached its peak and then crashed, dropping to such lows that most of the coins lost anywhere between 80% and 95% of their value. A few of them lost even more. Of course, this was not enough to eradicate the crypto market, and the bulls are still as optimistic as ever, especially these days, when Bitcoin price surges again, taking the rest of the market with it.

Some predictions claim that Bitcoin will reach its own glory days within a year or two, and there are even speculations that the largest cryptocurrency might spike up to $100,000 per coin. One claim from last week even sees BTC hitting $400,000, as the highest price which someone was brave enough to predict.

While it is certainly possible — at this point, pretty much anything is — not everyone is willing to take such a gamble and invest their hard-earned money into a risky asset such as digital currencies. With that in mind, here are three alternatives that are considerably safer than Bitcoin and the altcoins.

1. Investing and re-investing in stocks

A lot of people — especially younger generations — find stocks to be incredibly boring. Most of the time, all you do is invest, and use the returns for re-investing in high-yielding shares. However, while boring will not…

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The Best Time to Buy Bitcoin (BTC) Approaches

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Ever since 2019 started, the bear market of 2018 has been losing momentum, with the bulls emerging numerous times in short intervals. This was the beginning of a crypto recovery, which still has quite a long way to go.

However, last week, Bitcoin saw massive growth in transactions, reaching a 14-month high. These were the levels that were previously seen back in 2017, as BTC approached its highest point in terms of price. The growth also reflected strongly on BTC price, which spiked yesterday from around $4.100 to the current $4,672.

Meanwhile, Bitcoin market cap followed as well, currently sitting above $82.3 billion, while the trading volume exceeded $14.5 billion.

What caused the growth?

While this is an exceptional growth, and potentially a start of the bull run that everyone was waiting for, it did not come without a cause. One of the reasons why BTC surged was last week’s Weiss Ratings report of multiple different cryptocurrencies. The report’s authors even stated themselves that the best time to invest might be very near at this point.

Weiss Ratings has done reports about specific coins in the past as well, and this time, they noticed a significant improvement in coins’ performance. The report mentions growth in user transaction volume, network capacity, as well as network security, which the authors took as an improvement coming from the evolution of the…

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