Bitcoin’s [BTC] current parabolic trajectory is similar to 2017 patterns, shows analysis

2019-6-5 03:30

Bitcoin’s [BTC] price fluctuation has been seen as a new marker in the cryptocurrency industry, with the movement of the world’s largest cryptocurrency also affecting the rest of the field. Another point that was raised by a lot of proponents of Bitcoin was the similarity in price patterns formed during the recent bullish hike, with the rally that happened towards the end of 2017.

DonAlt, a Bitcoin supporter, recently pointed out a parabolic pattern forming from the point when BTC started climbing just before the New Year, to the price drop that occurred over the past couple of days. This pattern was similar to the one formed during Bitcoin’s all-time high when the prices fell once and continued falling.

Source: Twitter

DonAlt tweeted,

“For the people that haven’t been around in a while:
This is what I’m referencing.
It’s a tiny version of this big boy.”

Source: Twitter

Users in the Bitcoin ecosystem have claimed that the pattern might be applicable just for the short-term and would not end up as the start of a crushing bear market, similar to the one in 2018. To put Bitcoin’s fluctuations into perspective, the ‘king coin’ has risen by 107 percent in the span of two months and June saw BTC fall from its hold near $8,900 to settle near $7,900. The price fall was significant as the cryptocurrency fell from $8,588 to $7,971 in the matter of a few hours.

At press time, BTC was trading at $7,982, with a total market cap of $141.602 billion. Even the market cap took a hit at the start of the new month because the world’s largest cryptocurrency breached the $150 billion mark earlier.

Bitcoin was also in the news after Andreas Antonopoulos, the author of Mastering Bitcoin, claimed that Bitcoin held the same disruptive capabilities as e-mail. He said,

“(Just like email technology), you will see many other applications emerge from the other properties of the decentralized trust mechanism system.”

The post Bitcoin’s [BTC] current parabolic trajectory is similar to 2017 patterns, shows analysis appeared first on AMBCrypto.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 97513.45 (-0.35%)
Объем 24H $96.924b
Изменеия 24h: 3.19 %, 7d: 7.09 %
Cегодня L: $94006.77 - H: $98156.69
Капитализация $1928.202b Rank 1
Цена в час новости $ 7709.43 (1164.86%)

bitcoin btc patterns cryptocurrency analysis price 2017

Источник: ambcrypto.com

bitcoin btc → Результатов: 126


Bitcoin Price Fall Increases Buying Momentum, Pushes Exchange BTC Balances To 6-Year Lows

Following a major price decline in Bitcoin (BTC), market sentiment dropped back to strong levels of fear, indicating that investors are becoming increasingly cautious and risk-averse. Despite this trend, on-chain data analytics provider CryptoQuant has revealed a significant increase in BTC buying momentum, resulting in the Bitcoin balances on various exchanges dropping to six-year lows.

2024-10-6 07:00


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

0DOG and MATIC price prediction amid Polygon’s token swap

Bitcoin fell to lows of $56k again as crypto dumped amid a fresh surge in stocks. Many altcoins are mirroring this dump, including Polygon and Bitcoin Dogs. Yet, as the market experiences new downside pressure at the start of a historically tough September, most experts are doubling down on a bounce for Bitcoin in coming […] The post 0DOG and MATIC price prediction amid Polygon’s token swap appeared first on CoinJournal.

Bitcoin Remains On Top As Altcoin Season Fails To Gain Traction

The cryptocurrency market experienced a significant rally last week, providing a much-needed boost for many short-term speculators to turn profits. Bitcoin led the charge, surpassing the $64,790 mark, though the momentum appeared to have eased by the time of writing.