Following a widespread financial market selloff across many asset categories over the last week, repeatedly tested Bitcoin support finally gave way, causing an epic crash.
The selloff caused Bitcoin price to bounce off what one analyst calls the “buy zone,” claiming its now time to hold while the cryptocurrency enters a new bull market. And given how accurate the analyst’s calls have been over the last two years of price action, it may actually finally be time to go all-in on Bitcoin.
Bitcoin Stee Selloff Bounces Perfectly Off Buy Zone
Bitcoin price just broke below $9,500 after repeated tests of the support line, causing the first-ever cryptocurrency to crash down to well below $9,000 just 24 hours later, reaching a low of $8,650.
The selloff in cryptocurrencies comes after two months of an uptrend, adding over 60% in value to individual assets.
Related Reading | Coronavirus Fear Shakes Up Markets, But Crypto Remains Unaffected
The collapse in the crypto market was due to a greater financial market crash over growing fears surrounding the coronavirus potentially turning into a pandemic.
With fear so strong across the globe, the selloff was exceptionally strong.
But even as powerful as the bearish momentum was, the leading cryptocurrency by market cap is already bouncing.
Bitcoin price is now trading at $8,800 after a bounce from lows.
Price just touched the buy zone again [as predictable after yet another parabolic rise]. This is/ was the time to buy if you hadn't at 6K, or 3K or the 6K range again…. pic.twitter.com/9cGaNCUS2Y
— dave the wave (@davthewave) February 26, 2020
Accurate Crypto Analyst Claims It’s Now “Time to HODL”
According to one analyst with an uncanny track record for accuracy over the past two years, says that the bounce occurred right at what he refers to as the Bitcoin “buy zone.”
The analyst claims that those that missed out on buying the bottoms at $3,000 and $6,000, just had their opportunity.
While the trader doesn’t rule out the crypto asset dipping lower into the buy zone, they also assert that because there is so little room left within a massive triangle formation dating back to Bitcoin’s all-time high and bear market bottom, it isn’t worth attempting to swing trade Bitcoin.
Instead, the analyst claims, it’s time to hold.
But should you listen? Investors need to make up their own minds before taking any positions, however, the analyst in question accurately made many accurate calls throughout the last two years of bear market.
The analyst first predicted the bounce off the 200-week moving average at Bitcoin’s bottom, launching the cryptocurrency into a new uptrend.
Related Reading | Bitcoin Bull Market Hangs in the Balance of Just One Line
Later, the same person said that the crypto market was too overheated in mid-2019, after reaching $14,000. While others were calling for a new all-time high, Dave the Wave was among the first to call for a correction.
Calls have been accurate as recently as the local bottom at $6,400. While most of the market was looking for entries below $6,000, the analyst perfectly called the bottom yet again.
Now, with the trader suggesting that today’s crash to $8,650 was yet another perfect time to buy, are you ready to HODL for now on? origin »
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.
The market structures on H4 and daily wereThe post Bitcoin Cash blitzes back to March highs- Can the bulls hold on? appeared first on AMBCrypto.
The SEC's lawsuit against Binance sparked a crypto crash, significantly lowering Bitcoin's price. The leading cryptocurrency fell over 5% and is nearing the $25,000 support level.
The post Bitcoin (BTC) Drops to $25,500: Will Uptrend Hold? appeared first on BeInCrypto.
Another curveball is being thrown at the crypto-industry right now, with Bitcoin and co. collectively bleeding on the charts. With Bitcoin dropping below $60,000, there might be a little bit of panic The post Bitcoin is under $60,000, but should traders sell or hold now appeared first on AMBCrypto.
Bitcoin is speculated to have a major bull run this year. But the question remains - who really is heading this rally? When compared to the previous bull market some interesting observations can be seThe post Bitcoin: How much influence can these investors hold appeared first on AMBCrypto.
Bitcoin finally had an impressive day following the adverse price action seen last week. Monday saw bitcoin surge nearly 5%. BTC managed to hold $55,000 support and push closer towards $60,000 as it tagged $58,400.
Bitcoin has been struggling to hold above $19,000 following its latest rejection around its all-time highs The selling pressure at this level has proven to be quite intense, and it remains unclear as to when bulls will be able to surmount it For this region to be broken, Bitcoin’s buyers will first have to show some greater signs of strength, as they are currently struggling to hold the crypto above $19,000 A continued bout of […]
Bitcoin needs to hold the current price region where it’s at now to confirm that it remains in a bull trend, analysts say. Related Reading: CNBC’s “Mad Money” Host Jim Cramer Is Finally Buying Bitcoin Bitcoin Needs to Hold $10,000 Bitcoin must hold $10,000 in the near future to confirm that it is in a bull […]
The Bitcoin price took a hit as the new week commenced on 15 June. The largest digital asset, that was valued at $9,359.57 started losing its hold in the $9k range and slipped to a three-week low to $The post Bitcoin's falling price momentary, as options hold strong appeared first on AMBCrypto.
Bitcoin Press Release: HOLD. io has announced that its forthcoming crypto and cash exchange app with free Visa Debit card are set for release on 30th September 2019. This follows the conclusion of its successful beta program with a number of early supporters last month.
Bitwise Index Services, LLC, has just launched three new indexes covering the cryptoasset market. The creator of the first crypto index fund in the world is now pinpointing specific market segment by focussing on the total market segment, small-cap and mid-cap.
Despite the recent price struggles of Bitcoin and the rest of the cryptocurrency market, some enthusiasts still hold hope of a significant rally before the end of the year. Elsewhere, the rising BTC hashrate is beginning to force sweeping reactions in the mining ecosystem.
Key Points Bitcoin price jumped above the $6,400 and $6,550 resistance levels, but failed to hold gains against the US Dollar. There is a major bullish trend line in place with support at $6,240 on the hourly chart of the BTC/USD pair (data feed from Kraken).
There is no stopping Bitcoin enthusiasts. Regardless of what happens in the world and how the market reacts to major economic and political events, some people still hold on the core principles of the currency.
Why wait for an ETF? Bitwise Index Services, a subsidiary of Bitwise Asset Management, has announced the launch of three new indexes covering the mid-cap, small-cap, and total-market segments of the crypto market, as well as the renaming of its HOLD 10 Index as the 10 Large Cap Crypto Index.
In two short weeks, ETHUSD has devalued by 50% of its market value. With little to no relief for the underwater bulls, ether seems to be accelerating downward as buyer confidence is lacking and showing signs of capitulation.
Willy Woo, a veteran digital currency analyst with a strong focus on Bitcoin (BTC), has correctly predicted BTC trends on two occasions as highlighted by Ethereum World News. The first time he did so, was back in late May when he had doubts that BTC would hold its levels above $7,000.
Cryptocurrency regulation is one of the key features needed for a global cryptocurrency adoption. Governments, banks and other authorities will not allow a total adoption of cryptocurrency for as long as cryptocurrency remains self-governing and volatile, as a result of uncertainty.
Cryptocurrency mining giant Bitmain continues to gain attention over its initial public offering (IPO) as critics raise the alarm over its financial outlook. Bitcoin Cash Bets As Bitcoinist reported at the end of July, the manufacturer announced its plans to hold a $14 billion IPO before the end of 2018, having achieved Q1 profits of over $1 billion.
We really didn’t want to see Bitcoin in this current price range this month. August promised great prosperity and a glimmer of riches, instead though, the trend of 2018 has continued – a tight bear grip and a falling market.
Tron price failed to hold at key support amid the recent market bloodbath. $0. 024 has been an important support level on numerous occasions since Tron’s euphoric rise in December. This was the first time since December that price broke and closed below this level.
Regardless of the overall bearish sentiment and the SEC weighing in heavily against Bitcoin, bulls seem to be stable and recovering. It’s up five percent and reducing their weekly losses to eight percent as buyers reject prices below $6,000-the upper limit of our support zone.
The digital asset platform Bakkt has one feature which the market has been “crying for” according to CEO of an institutional Forex exchange. “This is What The Market Has Been Crying For” David Mercer, CEO of LMAX Exchange – the institutional exchange for global Forex trading as well as the operator of cryptocurrency exchange LMAX Digital, thinks that Bakkt’s 1-day futures contract which physically delivers bitcoin is the game changer the market has been looking
Read More
The post ICE’s Bakkt Paves Way for Institutional Investors, Experts Hold appeared first on Bitcoinist.com.
It’s been nearly two months since EOS mainnet launched and the price is trading around 65% less than it was when launched. The overall market has been suffering some steep losses since then, but EOS has been underperforming the rest.
$6k looms close for Bitcoin as price suffered a steep decline yesterday from around $6550 to $6100. Support around $6100 is currently holding the price but with this being the third test around this level, it is questionable whether it can hold much longer.
Over the last two weeks, bitcoin saw its longest streak of red days since 2014. The volume was modest and expansive on the drop as the price managed to lose 25% in value in just 10 days.
Earlier last week, the SEC postponed CBOE’s Bitcoin ETF application decision until late September. On Aug. 7, Brian Kelly went on CNBC’s Fast Money to urge viewers to hold their crypto investments through the delay.
On Wednesday bitcoin prices were averaging at $6,500 for the better half of the day but towards the evening, it proved that it couldn’t hold up as it dragged further below to reach around $6,200. The good news- if they can be called so- is that the rest of the market has held up and […]
The post Bitcoin Drags Further Below $6,500; Are Investors Just Overreacting ? appeared first on ZyCrypto.
Cryptocurrency has grown by leaps and bounds. In the book, The Internet of Money, Andreas Antonopoulos addresses the speed with which cryptocurrency is growing. He writes, “We are ahead of the curve.
Cryptocurrency–Confusing is the best word to sum up how the crypto markets have performed over the preceding weeks. Despite the excitement of July and early August’s price rally, a welcome sign in an otherwise severely bearish year, the crypto markets have again failed to hold momentum and slipped backwards.
Whether Bitcoin and other altcoins are finding support or not, we still hold a bearish inclination as far as XRP prices are concerned. It’s all because of simple reasons. First, there is a close below 45 cents and 2018 lows and secondly, Bitcoin (BTC)-which anchors most coins is also struggling to stay afloat. Both of […]
Two consecutive marubozu candles are being priced in on the daily chart. A marubozu candle is where there is little or no wicks and a long body for the candle. This is indicating strong bearish momentum for EOS.
The second largest stock exchange in Germany, Boerse Stuttgart, is taking yet another step to make its mark in the world of cryptocurrencies. The exchange has plans to create a new platform that will feature initial coin offerings (ICOs) and provide multilateral trading opportunities to investors looking to get hold of this new asset class.
Indian cryptocurrency traders have been finding innovative new ways of trading in digital coins ever since the Reserve Bank of India (RBI) banned such coins in April. Even though the voices of concern raised within the crypto community gained attention, they fell on deaf ears of the legislature, which quickly dismissed their bid for survival.
The wide adoption of cryptocurrencies in Russia has been put on hold after the State Duma postponed the final reading of three crypto bills for its fall session. Nevertheless, Russian companies are already planning to introduce crypto payments as soon as the regulations are in place.
FOMO Moments Current recovering altcoins are Ethereum Classic, Tezos, and Nano. The falling knife seems to have hit something solid as we enter the weekend in crypto land. The bears are having the day off and market capitalization has halted at just above $265 billion as further losses are on hold for now.
The Distributed 2018 conference that recently took place in San Francisco was accompanied by a new edition of the Distributed Dialogues podcast, a collaborative show between the Let’s Talk Bitcoin Network and Distributed Magazine.
Following a disastrous security breach in June that led to losses of more than $30 million, Korean cryptocurrency exchange giant Bithumb has announced that it is set to resume deposit and withdrawal services on its platform.
Market visualization from Coin360 Data from Cointelegraph’s price tracker and Coin360 show a sudden dip downwards from $7,550 Friday, with BTC/USD trading around $7,363 at press time. Bitcoin weekly price chart.
December 18 is HODL Day, a celebration of a famous crypto typo that became a symbol of sticking with your investments, no matter what the market throws your way. So what is HODL anyway? Here’s how HODL became an iconic…
Bitcoin has broken the $100,000 ceiling, a landmark that cements its evolution from a niche digital experiment to a formidable asset class. It’s also a true testament to Bitcoin’s army of global HODLERs who have shown immense conviction and fortitude.
Feeling left out of crypto conversations? You’re not alone! Crypto slang like ”HODL”, ‘’FOMO’’, ”to the moon” and many others have become so common, that they can be termed as a new language in the crypto world. In this guide,…
95% адресов, которые взаимодействовали с биткоином, находятся в зоне прибыли. Об этом заявили эксперты IntoTheBlock. With 95% of Bitcoin addresses now in profit, market sentiment is booming. Historically, such levels have signaled strong bullish momentum but can also indicate a potential overextension.
Several investing strategies have emerged as Bitcoin and crypto continue to grow in value and expand their use cases. For many, the investing thesis focuses on Bitcoin and Ethereum, two of the biggest cryptos by market cap.
