After attempting to break decisively past $10,000 for the second time in a week, Bitcoin was rejected, plunging as low as $9,200 earlier Friday morning. Some fear that this hesitance around the key resistance of $10,000 is indicative of BTC returning to a bear trend.
An analysis by a popular trader, however, indicates that the ongoing Bitcoin price action is looking much like it did prior to BTC rallying from $500 to $20,000 over the span of a year and a half.
Bitcoin Looks Much Like It Did Near 2015’s Bottom
According to a crypto trader, his fractal analysis algorithm indicates that Bitcoin’s price action from November until now is currently 76% similar to the price action seen near the 2015 macro bottom around $200.
Bitcoin fractal analysis by trader Polar Hunt (@Polar_Hunt on Twitter) indicating that the ongoing price action is 76% similar to the previous cycle’s macro bottom at ~$200.
While not a perfect fractal, the chart indicates that should BTC follow the fractal in full, the cryptocurrency will soon experience another full-blown bull run marked by exponential gains.
Corroborating this, on-chain analyst Philip Swift noted that Bitcoin recently printed the exact same on-chain signal that was seen when the cryptocurrency bottomed around $200 in 2015 and $3,150 in 2018:
“Drop in miner revenue sent Puell Multiple back into the green zone today. This zone represents a great time to buy BTC on L/T (18months+) horizons,” Swift wrote in reference to the chart below.
Chart of The Puell Multiple over time from on-chain analyst Philip Swift’s website, LookIntoBitcoin.com
Fundamentals Support Bull Case
While skeptics doubt that Bitcoin will rally to $20,000 and beyond, the fundamentals purportedly support the expectations of another full-blown bull rally.
Speaking to CNBC’s “Fast Money” panel in the wake of the halving, Galaxy Digital chief executive officer Mike Novogratz said that he still thinks Bitcoin is on track to cross $20,000 this year.
Novogratz backed his prediction by citing the trillions of dollars worth stimulus from global governments, along with the record amount of liquidity operations by central banks. Along with the positive macro outlook, Novogratz added that Paul Tudor Jones, the legendary macro hedge fund investor, entering the Bitcoin space is especially positive.
As to why this is, the Wall Street investor did not elaborate.
But as Max Keiser — a television host and one of the first people publicly bullish on Bitcoin — explained in a recent episode of his show, if Jones’ Bitcoin allocation generates significant enough returns, institutional investors will flood into the space attempting to emulate those gains.
“I think [Paul Tudor Jones investing in Bitcoin] is a seminal event for the Bitcoin story… He’s a lead alpha dog in the hedge fund industry, so that if he starts generating alpha in his fund — if he starts outperforming his peers, the approximately 10,000 hedge funds out there — they will be forced to jump on. They will need to put 1, 2, 5, 10% of their portfolio [in Bitcoin],” Keiser remarked.
Really good point from @realmaxkeiser in a recent ep. of @KeiserReport:
If Paul Tudor Jones' Bitcoin allocation generates significant enough returns, thousands of institutional investors are likely to rush to BTC as they attempt to emulate those gains. pic.twitter.com/7F5mKIkbq6
— Nick Chong (@_Nick_Chong) May 15, 2020
Photo by Frame Harirak on Unsplash origin »
Bitcoin’s recent tumble has sent shockwaves through the crypto market, with the Crypto Fear & Greed Index plunging to its lowest level in over two years, signaling extreme fear among investors.
Data shows the Bitcoin Fear & Greed Index has declined to a neutral level recently. Here’s what this could imply for the cryptocurrency’s price. Bitcoin Fear & Greed Index Is Now Pointing At ‘Neutral’ The “Fear & Greed Index” refers to an indicator created by Alternative that tells us about the average sentiment present among the traders in the Bitcoin and wider cryptocurrency markets.
Bitcoin grips moderate fear; if it persists, short-term holders may sell to break even.
Their exit could signal a price bottom.
Bitcoin [BTC] bulls have prevailed after what seems to be theThe post Bitcoin Fear and Greed Index fuels fears of BTC's price drop appeared first on AMBCrypto.
Bitcoin price continued its slow retreat after the weak US jobs report and as the crypto fear and greed index dropped to the fear zone. Weak US jobs data Bitcoin (BTC) dropped to a low of $56,800 after ADP published…
The Bitcoin Fear and Greed Index is flashing red hot at 90, signifying a market rife with excitement – and perhaps over-excitement. This prediction may have already come true, with the price tumbling back down to the $67K level after hitting a new ATH of $73k.
Data shows the Bitcoin drop below the $27,000 level has made most investors fearful for the first time this month. Bitcoin Fear & Greed Index Is Pointing At “Fear” Right Now The “fear and greed index” is an indicator that tells us about the general sentiment among investors in the Bitcoin and broader cryptocurrency market.
Data shows the Bitcoin market sentiment has worsened recently and is approaching extreme fear territory. Bitcoin Fear & Greed Index Has Plunged Inside The Fear Region Recently The “fear and greed index” is a Bitcoin indicator that tells us about the general sentiment among the investors in the Bitcoin and broader cryptocurrency market.
Bitcoin is on track for its sixth consecutive week of losses, its longest losing streak to date. A confirmation of this pattern is likely to portend additional losses for the most popular cryptocurrency in the world.
Bitcoin investors are in fearful mode as the asset slumps below $56,000. Several factors are responsible for the prevailing sentiment but others remain optimistic that fortunes could change. The Fear and Greed Index is a tool used to gauge the prevailing sentiment with a lower score indicating fear and a higher one representing greed. Bitcoin […]
On June 2, Bitcoin and altcoins saw double-digit rallies with Bitcoin briefly stood above $38,000 and dogecoin increased 40% once. The rally failed to spark hope among investors and the bitcoin fear and greed index is at 24, indicating extreme fear.
After incurring a bout of capitulation throughout the latter part of yesterday, Bitcoin (BTC) has been able to post a decently strong rally that has allowed it to recapture its position within the lower-$7,000 region, and its recent lows may ultimately mark a long-term bottom for the crypto.
Bitcoin’s (BTC) recent plunge under $8,000 to tap $6,800 has done numbers of the sentiment in the cryptocurrency industry. As a popular trader, Crypto Michael, noted in a recent tweet, the Bitcoin Fear & Greed Index recently printed a 23, which is on the “extreme fear” side of the oscillating indicator.
Now that Bitcoin prices seem to be going downhill, the lily-livered are beginning to ask the usual questions. The many factors which are driving down Bitcoin prices at the moment are what people don’t even understand fully.
The fear, uncertainty and doubt is palpable today on bitcoin markets. It shouldn’t be as these large swings are nothing new and will happen time and time again. Yet still the panic ensues as traders quickly liquidate positions for fears of further losses.
Глава биржи Binance Чанпэн Чжао сделал ретвит поста о том, что вопреки паническим распродажам сейчас подходящее время для покупки цифрового золота. The Crypto Fear & Greed Index has not been this low since December 15th 2018.
By CCN Markets: The Bitcoin Fear and Greed Index has crashed to its lowest level in almost a year. The index, which tracks sentiment among investors, hasn't plumbed these lows since December 2018 when the king of crypto finally found yearly support just above $3,000.
Binance is currently running interference against what it views as a “fear, uncertainty, and doubt” campaign against the Bitcoin exchange giant. The objective of its perceived attackers seems to be making Binance users believe that their know-your-customer or private information is not private at all.
The biggest topic of discussion around the crypto space in recent weeks has been the United States and the sudden negative stance it has taken against Bitcoin and cryptocurrency ever since Facebook Libra came into the limelight and shook up the space.
What started out as a trade dispute between the world’s two largest economies is now a full-blown currency war as the U.S. and China bring their big guns to the battlefield. The impact on the global financial markets was immediate and severe, driving up safe-haven assets as ordinary people fear losing the value of their […]
The post Currency War Erupts as US and China Bring Out the Big Guns appeared first on Bitcoin News.
With so much negativity suddenly in the crypto market following increased regulatory concerns surrounding Bitcoin, Facebook Libra, and the rest of the asset class, the sell pressure and fear has caused altcoins to capitulate and even Bitcoin to begin to crash.
They say art is relative to the times. Well, crypto-charts are certainly a unique form of art too. With Bitcoin’s price constantly fluctuating, the community often turns to stalwart chartists who try to make sense of it all and give everyone a support to fear or a resistance to crave.
Sentiment across the United States pertaining to the crypto market is at an extreme low, despite Bitcoin rallying above $10,000 and kicking off what appeared to be yet another bull run for the bubble-bound crypto asset.
Bitcoinist Senior Analyst, FilbFilb, believes that the basic rule of supply and demand will prevent Bitcoin from dropping to a new 2019 low. FUD to Drive Bitcoin to a New Bottom? Bitcoin’s most recent price action has presented a plethora of challenges to cryptocurrency traders, and the drop below $10,000 has the most bearish traders calling for Bitcoin to revisit the $5,000 – $7,500 range.
Bitcoin markets saw their biggest ever change in the week after US President Donald Trump said he was “not a fan,” new data suggests. ‘Crypto Fear And Greed Index’ Goes Maximum Fear In its latest edition published July 16, the so-called ‘Crypto Fear and Greed Index’ tracked sentiment swings across the cryptoeconomy over the past week.
Besides fat-fingered whales, the other species HODLers should learn to fear are large-scale Bitcoin miners whose electricity cost is zero. The reason? Their break-even point is low enough to depress the fair market value of the Bitcoin price, dashing the asset’s seven-figure ambitions.
Cryptocurrencies have recovered from losses incurred a week ago, with many digital assets up 50-80% since July 2. For instance, eight days ago bitcoin core (BTC) tumbled to $9,650 and then back to a high of $13,150 yesterday evening.
In economic and political turmoil, Bitcoin always soars. This was evident as the market surged during the U. S-China trade war and continues to play a major role in some regions including Iran, Venezuela, Zimbabwe, and Britain.
Gold has been rallying alongside bitcoin the past few months, and with this move in gold, there has been an increase in traffic at precious metals sellers as consumers unload expensive watches and precious metals.
According to the Wall Street Journal, The Internal Revenue Service (IRS) is expected to update its guidance on Bitcoin tax treatment within weeks. In the meantime, members of the U. S. Congress fear that the U.
Love, hate or fear it, there’s no avoiding tether (USDT). Its shadow looms over the cryptoconomy, supplying sanctuary in times of volatility, providing fiat capital inflow and acting as a lightning rod for crypto critics who believe it’s propping up the price of bitcoin.
Bitcoin is yet again at a critical inflection point, where the days ahead may determine the trend for the coming months and potentially years in the crypto market. After a flash crash stopped Bitcoin’s parabolic advance short ahead of setting new all-time highs, many fear that the rally may be ending and will test lows.
One of the big attractions to Bitcoin is its ability to bypass the banking system. The likes of doom monger, Nouriel Roubini, still bash BTC in favor of a largely unprincipled banking system where the top get richer at the expense of the bottom.
In a world where traditional assets are widely affected by macroeconomic and global political scenarios, people are found investing in safe-haven assets like Gold or Bitcoin and other assets for storing value.
Remember when we said that the road to $15k BTC wouldn’t be smooth? Well, since then bitcoin prices hit $13,000 and then $14,000…. and then hit $11,000 before slipping just below $10k. We’re sticking to our guns: don’t fear the dips, because we’ve seen this movie before.
In an age of unprecedented censorship, surveillance and rampant deplatforming, Bitcoin stands out as a beacon of hope. Its decentralized ledger enables value to be transmitted to anyone, anywhere without fear or favor.
It is a well-known fact mainstream media outlets seemingly have a love-hate relationship with Bitcoin and other cryptocurrencies. Some say this is due to ignorance, whereas others see it as blatant fear mongering.
Bankers, government officials, and regulators all over the world are feeling increasingly alarmed by the disruptive capabilities of Bitcoin, cryptocurrencies and blockchain technology. Facebook’s recently launched “cryptocurrency”, Libra, is the latest cause of fury, angst, and fear amongst regulatory bodies.
Bitcoin is worth what the market says it’s worth: and right now the market is drawing from a well of faith, creating more expectation than fear, and pushing the price of BTC back towards levels not seen in 18 months.
To most in the Bitcoin (BTC) community, mainstream media is viewed with intense skepticism. This isn’t a baseless fear, 99Bitcoins has revealed that the cryptocurrency has been “declared dead” over 360 times in its life,.
As much as “FOMO” is a meme in the Bitcoin (BTC) community, the fear of missing out seems to be an entirely real phenomenon. It’s been just a day since the cryptocurrency rocketed past $10,000, and data is already revealing that more money (and investors) are already flooding into these markets, ready to throw their.
Bitcoin has soared through $10k – and even peaked well above $11k earlier today – but we need to caution our readers that it’s not going to be entirely smooth sailing all the way to new all time highs.
By CCN Markets: The bitcoin price rally refuses to let up, and the dominant cryptocurrency just soared above $11,000 for the first time since March 2018. Bitcoin Price Rushes to 15-Month High Around 12:00 UTC, investors bid the bitcoin price up to $11,215.
On Wednesday, the Federal Reserve’s Jerome Powell was asked about his latest thoughts on Bitcoin (BTC), crypto assets, and Libra. True to his nature as an integral piece of traditional finance, the chairman of one of the world’s most powerful institutions didn’t express fear.
On Wednesday, the Federal Reserve’s Jerome Powell was asked about his latest thoughts on Bitcoin (BTC), crypto assets, and Libra. True to his nature as an integral piece of traditional finance, the chairman of one of the world’s most powerful institutions didn’t express fear.
The Big Banks’ fear of the decentralized currency world is palpable, both in theory and in practice. This fear has manifested in several institutional financial players first chiding Bitcoin and then embracing the crypto-realm, but the pre-condition of Blockchain’s precedence over Bitcoin has always been maintained.
While some have welcomed the giant crypto along with altcoins with open arms, others have simply slammed their doors on them. Of course, we have also seen countries that are remaining patient and watching how others are dealing with the notion of digital assets.
The authorities of Vancouver fear that bitcoin ATMs can be widely used for money laundering and propose to prohibit installing crypto ATMs in the city.
Bitcoin price is consolidating above the $95,000 support zone. BTC must settle above the $100,000 level to start a fresh increase in the near term. Bitcoin started a fresh increase from the $94,200 zone.
Bitcoin price started a fresh upward move above $100,000. BTC is facing resistance at $103,000 and might aim for an upside break. Bitcoin started a decent upward move above the $100,000 zone. The price is trading below $103,200 and the 100 hourly Simple moving average.
Bitcoin price settled above the $100,500 resistance zone. BTC is consolidating gains and might aim for a fresh increase above the $105,000 zone. Bitcoin started a downside correction from the $106,800 zone.
Bitcoin price started a short-term downside correction from the $106,250 zone. BTC is consolidating above $100,000 and might aim for a fresh increase. Bitcoin started a downside correction from the $106,250 zone.
