Bitcoin bear market 2018
Jul 17, · Peter Schiff, the CEO of Euro Pacific Capital Inc. and a long time Bitcoin pessimist, also believes that BTC will not reach low again. He made this comment on July 10, affirming that the Bitcoin bear market has a long way to run, nevertheless, this statement has been remarkably confirmed by a BTC broker. Dec 28, · Using this second interpretation, Bitcoin entered a bear market on February 17, (two months after the Dec 17, , ATH). Its closing price was 11,, far below the broad-definition, 20 percent decline figure of 15, Bitcoin remains in a long-term bear market, trading at 4, as of this writing (December 24, ). Nov 12, · At the time of writing, the bear market has been rearing its ugly head for more than days. However, unlike the previous two bear markets which were seemingly caused by negative news, the bear market was a result of Bitcoin growing too big for its breeches.
Bitcoin bear market 2018Bitcoin Bear Market Is Far From Over - Traders-Paradise
Despite his pessimism, Bitcoin is actually seeing increased adoption, and it is clear that institutions are increasingly recognizing it as a powerful asset. Although some analysts may be pessimistic regarding the future of Bitcoin, its increasing rate of adoption as both an asset and as a currency signal that the best is yet to come. Cole is a cryptocurrency analyst based in Los Angeles. He studied at the University of California Irvine and has been interested in Bitcoin and the crypto markets since Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.
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Play Now! Tags: bitcoin btc ETH ethereum xrp. Tweet Share. Could you be next big winner? In , however, the wild expectations and speculation over what the cryptocurrency could eventually be, came back down to reality, and with it the price per BTC.
The highly speculative asset is extremely volatile as a result of its path toward global adoption , making it a great asset to trade each major peak and trough in between. Execution, however, is far more difficult than it sounds. Recently was an ideal example where ten separate technical indicators were giving extremely bearish signals, yet the cryptocurrency continued to soar higher. However, Mohamed A. El-Erian held the cryptocurrency for two years and through plenty of ups and downs along the way.
Yet for some reason, he claims to have just sold the asset now in advance of what most believe to be the greatest bull run in history.
Is the economic genius wrong here, or will the bull market take a little bit longer to develop? The only way that sort of confidence can build is through retests of resistance turned support. Given how extended and overbought the rally has been, how exuberant the sentiment has already turned, and the fact that such critical levels have yet to be retested and confirmed as a base, suggests that a correction is long overdue, needed, and even healthy for the growth of the cryptocurrency.
Depending on where the support holds, will help determine where the asset goes to next. For now, El-Erian appears to be playing the waiting game and after generating three times the return from his initial investment, and others could do the same. Could you be next big winner?