A fall in an important Bitcoin-related metric with ties to overall crypto market sentiment over the past couple of weeks, suggests that recent price action across the crypto market has traders and investors increasingly fearing that the bottom isn’t in for Bitcoin, and may be adjusting their expectations and preparing positions in anticipation of the market falling further into the downtrend.
Are Crypto Traders Reconsidering That The Bottom Is “In?”
Crypto traders and analysts will use any information or statistics available to them in order to attempt to gain a competitive advantage over others in the market, such as predicting when trends are about to reverse. After months of downtrend, traders are attempting to do just that, and “knife-catch” the bottom, and are using any tools they can get their hands on to figure out if that bottom is indeed in.
Related Reading | The Biggest FUD and FOMO Moments in Crypto 2019
These tools consist of fundamental analysis, such as stock-to-flow models, hash rate, and network transactions, and technical analysis using indicators, chart patterns, and more.
Some more advanced analysts also look at the ratio and balance of long versus short positions, platform by platform, to get a good grasp of overall market sentiment and how traders are positioning themselves ahead of the next major price movement.
Bitifinex Longs Begin to Fall After Reaching All-Time High
After Bitcoin price touched $6,500, long positions on the popular cryptocurrency trading platform began to spike as traders began to consider the bottom could be in at least for the short-term.
Interesting coincidence:– after $BTC first time touched 6500$, longs on Bitfinex started to grow (insanely);– after BTC touched 6500$ second time, longs started to decline.People thought that it is the bottom initially and now they are not that sure anymore?$BTCUSD #bitcoin pic.twitter.com/5USN6wP5n2
— CryptoHamster (@CryptoHamsterIO) January 1, 2020
However, Bitcoin has failed to produce a strong bounce, and has instead made repeated trips to retest lows, and has even set a new lower low since. The recent price action has caused the long metric to begin to fall for the first time in over a month – after recently reaching the highest point its ever been – suggesting that crypto traders are reconsidering that the bottom may not actually be in, and Bitcoin could be at risk of falling lower.
The idea that a bottom is “in” in a financial market, is only possible in hindsight. Because Bitcoin only one year ago was trading at $3,000, and after a strong rally has fallen back to prices just above $6,000 has crypto traders not only wondering if a local bottom is in, but if the bear market bottom in its entirety is in.
Some steadfast analysts remain unfazed in their conclusion the bottom is in, while others are now expecting Bitcoin to fall to prices of $1,000, bankrupting companies across the crypto industry and leaving the industry itself in shambles.
Related Reading | Bitcoin Price Yearly Candle Shows Failed Rally, Longest Wick on Record
Given how uncertain the market is for Bitcoin and crypto, it’s no surprise that many traders are beginning to fear the worst and are changing their strategy as a result. The post appeared first on NewsBTC. origin »
Renowned Indian Author Chetan Bhagat wrote a column declaring that crypto is dead. Is it the sign of the bottom?
The post Bitcoin Has Died Nearly 500 Times as Bear Market Bottom Signals End of Crypto appeared first on BeInCrypto.
Frank Downing, director of research at Ark Invest and Steven McClurg, co-founder of asset management firm Valkyrie, joined “First Mover,” to discuss why crypto may have reached its “bottom,” and their crypto-focused separate managed accounts (SMAs).
After Bitcoin price broke down from its multi-month triangle formation, the entire crypto market is watching, waiting, and wondering where the bottom of the current downtrend is. But according to a fractal that appears shockingly similar to Bitcoin’s bear market bottom, the crypto asset has already bottomed and is about to explode back up to.
Bitcoin (BTC) Price Finds New 2018 Low at $3,180 USD as Investors Seek for the Bottom's Bottom Bitcoin (BTC) Price Finds New 2018 Low at $3,180 USD as Investors Seek for the Bottom's Bottom Coinbase Crypto Exchange Launches the Single Sign On (SSO) via Consensus Coinbase Crypto Exchange Launches the Single Sign On (SSO) via […]
The price of XRP has maintained a level of $0.3 for a while even amid the bearish crypto market. In the last 24 hours, the market has seen a drop of 1.16% to $0.287. While the tendency for more fall still ranges in the crypto market as the top Cryptocurrencies are struggling to maintain recent […]
The post Ripple [XRP] Sentiment Analysis | When Bottom Or When Moon? appeared first on ZyCrypto.
The weekly Crypto Technical Analysis is provided by Dmitriy Gurkovskiy, Chief Analyst at RoboForex. Needless to say, all statements and views expressed below and any forecasts contained herein are solely based on.
The entire crypto-economy has been meandering just above $109 billion after the last two weeks of market dumps. Volume has been light this week as digital asset enthusiasts and traders are now pondering the crypto market’s next big move.
During the most recent dip in the crypto market, Ripple’s XRP has not fallen in price as much as most other cryptocurrencies. It is currently right at the support area ($0. 24-$0. 28) formed by the lows in October 2018 and the highs of October 2017.
The month of December started out better than November but it is now turning out to be every bit a cryptocurrencies holder’s worst nightmare as November. Today, major coins have taken a dramatic drop with most coins losing 10% to 20% of their value.
While the price of bitcoin has nearly hit rock bottom from its $20,000 all-time-high of 2017, the bloodbath has not deterred bad actors from carrying out cryptojacking attacks. According to a Digital Trends report on December 4, 2018, rogue actors have installed crypto mining malware on 415,000 MikroTik routers globally.
With many Japanese crypto exchanges and miners owned by ‘traditional’ corporate businesses, 2018’s bear market has negatively impacted parent company bottom lines - triggering shakeouts and rethinks within Japan’s nascent crypto sector
Crypto Analyst: Bitcoin Cash Hard Fork, Regulatory Qualms Have Been Bearish Catalysts Naeem Alsam, a crypto-friendly contributor to Forbes and the Chief Market Analyst at ThinkMarkets, recently sat down with CoinTelegraph in the outlet’s “Time To Buy Bitcoin [BTC]?” exclusive to discuss his opinions on the market, and where BTC could potentially bottom.
Today Kiana talks about the biggest worries facing nervous investors at the end of a bearish 2018. As market caps continue to slip lower, many crypto holders are wondering if they’ve reached the bottom, or if this slide has a few more dips left.
Bitcoin has lost an important part of its value during this year, and it has plummetted even further during the last weeks. This is why the crypto community is asking when virtual currencies will reach the bottom of this market.
Price predictions have been coming thick and fast over the past couple of weeks since crypto markets took their biggest dive in mid-November. Bitcoin has been the litmus test for the rest of the crypto market which still seems to be hopelessly coupled to its price swings.
Although virtual currencies have been operating in a downtrend since the beginning of the year, Bitcoin and cryptos could reach a bottom in the coming months. According to the Bitcoin and market analyst David Puell, Bitcoin could be reaching a bottom between December and the first quarter of 2019. $BTC: 1/ BAD NEWS: We haven't […]
On Wednesday, after a multi-week sell-off that saw crypto assets toss and turn non-stop, investors in this market found some much-needed reprieve. In the span of 12 hours, Bitcoin surged past $3,800, establishing a five-day high at $4,375 on the back of an aggressive influx of buying pressure.
Much like the rest of the crypto market, ether has found itself devalued by more than 90% since its all-time high of $1,400 back in December of 2017. And now, almost a year later, ether sits just above $100 on what appears to be shaky ground during its latest round of selling over the last few weeks:Figure 1: ETH-USD, Daily Candles, Rapid DescentSimilar to bitcoin’s movement discussed in yesterday’s article, ETH-USD experienced a parabolic growth profile during its bull run.
After a bearish year of perennial price swings that culminated in months of tightly wound sideways movement, the (former) bottom has dropped out for bitcoin and the wider crypto market.
After CNN, A. Pomp Heads To CNBC To Talk Bitcoin After appearing on crypto-related segments on CoinTelegraph, Ran NeuNer’s CNBC Africa-sponsored Crypto Trader, and most recently and notably, CNN International, Anthony “Pomp” Pompliano, one of the most diehard Bitcoin advocates, cut out some time to appear on CNBC’s early-morning Squawk Box panel.
Former Goldman Sachs partner and Fortress hedge fund manager Mike Novogratz is hoping for Bitcoin to bottom out. The cryptocurrency has lost over 75 percent of its value this year, which is challenging for people like him, who are trying to build businesses based on digital assets.
On Saturday, after Bitcoin’s days of relative stability at $4,300, a fresh wave of selling pressure washed over crypto investors worldwide, sending Bitcoin well below its purported support levels at $4,000 and $3,800.
In an interview with CNBC, Michael Moro, CEO of trading firms Genesis Trading and Genesis Capital Trading, revealed that he expects to see a continued downward trend, ‘until you kind of hit the 3K-flat level'.
Fred Wilson Advises Crypto Investors To Buy More Digital Assets In January, Fred Wilson advised cryptocurrency investors to sell their holdings. On the contrary, the prominent Silicon Valley venture capitalist is encouraging investors to buy digital assets.
When things go south in crypto land it happens fast, a digital avalanche sweeping away everything that stands in its path and blasting most of digital coins into oblivion. This weekend’s exodus has been a third wave of selling which has resulted in the loss of over $90 billion from crypto markets this month alone.
If you could have suggested to any crypto trader and enthusiast earlier this year that Bitcoin (BTC) would drop to current levels of $3,700 he or she might as well declared you insane. But the reality remains that we are where we are due to a few factors that will be stated below.
By now, crypto investors have become mentally prepared for the possibility of Bitcoin dropping suddenly and shedding billions of dollars in the process. However, at the back of their mind, many investors were confident that the $4,000 support level would hold strong and Bitcoin would use this level to bounce back.
Bitcoin Bear Market Has Seen No Abatement Michael Moro, CEO of Genesis Trading, sat down with CNBC’s Squawk Box on Black Friday (November 23) to convey his opinions on the current status of the Bitcoin (BTC) and crypto asset market.
What Is going On In The Crypto World? About four days ago, the crypto markets began to crash hard. Now the race to the bottom appears to have picked up more speed. The BTC is a good example of this.
The dominating heuristics in the crypto space is the BTFD rule – buy the f…. dip. However, this dip is threatening to become a real sink to the deepest of bottoms and it is hard to determine a good entrance point.
The weekly Technical Analysis is provided by Dmitriy Gurkovskiy, Chief Analyst at RoboForex. Needless to say, all statements and views expressed below and any forecasts contained herein are solely based on the.
Now that we finally got chased out of the stagnation and bitcoin fell significantly in only 10 days, holders are crawling out and whine with melancholy about the money they once “had” as crypto was in the delirium of last year end.
Bitcoin has dropped close to 30% in November and is hinting more losses. But many prominent crypto figures believe the digital currency will recover one way or another. CNBC Crypto Trader Ran Neu-Ner said that the crypto market is at most bearish not in a full-fledged panic mode.
Bitcoin (BTC) Hits $5,000 After Sell-Off, BitMEX CEO’s Prophecy Fulfilled In July, as reported by Ethereum World News, Arthur Hayes, the famed chief executive at Hong Kong-based BitMEX, unexpectedly predicted that Bitcoin (BTC) didn’t bottom at $5,800, even while the crypto market’s leading analysts begged to differ.
The recent crash in the crypto market has led Wall Street investors to slash their Bitcoin price prediction by half. Tom Lee, the co-founder of Fundstrat Global Advisors, lowered his year-end expectations to $15,000 from $25,000.
“Go for the Jugular” is the advice George Soros gave to his team during his famous attack on the British pound for a profit of $1 billion on so-called Black Wednesday in 1992.
Paraguay has had several hydroelectric towns that many had associated them with the drug cartels, ammunition and also smuggling. But now it has become the new home for the crypto miners in the market who have been connected to a very sophisticated network involved with mining crypto coins for their owners. It is finally giving […]
Ethereum (ETH) has had bad press lately. Erstwhile Ethereum dApps are moving onto other networks; prices are at rock bottom. At a conference not too long ago, one cryptocurrency trader described ether tokens as “practically dogshit.
Steve Wozniak, the co-founder of Apple, recently sat down with Crypto Trader on how he sees Bitcoin and everything it is involved with. Wozniak didn’t get in at the bottom level, but he joined around the time that Bitcoin cost about $70 per BTC, investing via Mt Gox as his platform. Interestingly, Wozniak was quick […]
Crypto Industry in Shock as Ethereum Reportedly Bottoms Out Genesis Global Trading, the crypto investment company targeting institutional investors, recently reported that the short interest for Ethereum had substantially declined by September 2018.
It’s been weeks since ether has seen a new high or a new low and the market has found itself range-bound. At the moment, we are seeing signs of distribution as large rounds of selling have remained present during key support tests:Figure 1: ETHUSD, 4 Hour Candles, Trading RangeSo far, for the last few weeks, ether has seen a trend of higher lows and low highs (the converging red trendlines).
Bitcoin so far has been able to find support above the so-called bottom area below $6,000. But it is not enough to beat the long-term bearish bias, according to a famous cryptocurrency analyst. Crypto Thoreau, in one of its latest tweets, predicted that Bitcoin price is in for a drop towards $3,500.
An oversold market makes the best time to enter. And experts believe it is happening with crypto industry as it retains a yearly bearish bias. The significant dip seen in 2018, followed by consecutive strong rebounds from a specific bottom area has upped medium-term bullish sentiments in the crypto market.
Newly Published Journal Indicates Maturing Crypto Market Is Great News For Bitcoin Newly Published Journal Indicates Maturing Crypto Market Is Great News For Bitcoin DocuSign Expands By Adding Ethereum (ETH) Support And Blockchain Integration DocuSign Expands By Adding Ethereum (ETH) Support And Blockchain Integration Bitcoin Price Flirts With Year's Bottom As Trading Volumes Approach 2018 […]
After last week’s price drop, investors have become optimistic in the positive short-term trend of crypto. The new bull run is being led by Bitcoin, which has managed to regain and exceed its former bottom of $6,000.
Since Bitcoin found a foothold in the $6,200-$6,800 range in early-August, crypto traders have been doing their best to discern where this unpredictable market will head next. But, with positive crypto-centric news becoming commonplace, there has been an unprecedented number of investors, commentators, and industry leaders that have foreseen a bottom in the tumultuous cryptocurrency market.
FOMO Moments Crypto markets are horizontal today; Only Digitex Futures is pumping. Cryptocurrency markets are still at the bottom following their mid-week dump. There has been no sign of a bounce back to previous levels as total market capitalization is still hovering just above $200 billion.
We can try and make sense of yesterday’s absolutely brutal market correction, where the bottom fell out of crypto and dragged most of the market with it for a few heart-wrenching hours. The New York Stock Exchange had its worst day for eight months, rising interest rates in the US drew the ire of the […]
The post Joe Crypto: The Market Calls The Shots appeared first on Crypto Briefing.
Chart for ETH/USD (4H) Ethereum (ETH) investors have nothing to worry about. The recent decline in Ethereum (ETH) sure was frightful. It is alarming to see the price of an asset decline by more than 10% in a single day.