Since Bitcoin investors got a taste of parabolic price action in early-2019, during which BTC surged from the low-$3,000s to $14,000 in a few weeks’ time, they have been craving more.
According to a Google Trends analysis, another parabolic rally is about to form again in the cryptocurrency market again. Considering historical rallies, this next bull market could bring BTC above $100,000, some analysts have suggested.
Google Trends Suggests Bitcoin to Soon Explode
Cryptocurrency analyst Cryptokea recently noted that the worldwide Google Trends, well, trends for the search term “Buy Bitcoin” have recently hit a seven-month high — the highest since June 2019.
More specifically, the metric has hit a “10” on a long-term basis, with the metric’s maximum being 100. This may not seem relevant, but Kea notes that each time a “10” reading has been seen for the “Buy Bitcoin” term, the cryptocurrency market always found itself at an essential inflection point.
When a “10” was seen in November 2013, it marked a long-term top to a BTC bull market that brought the cryptocurrency from irrelevancy to above $1,000.
1/ Googling for "Buy Bitcoin" just reached a 7 months high (Score 9). The long-term upwards trend is undeniable. The last time the score reached a 10 was:Nov '13 (bull top),May '17 (price on parabolic run-up),Jun '19 (medium-term top)>Feb '20 (price on parabolic run-up?) pic.twitter.com/tkdXIEvM3Q
— CryptoKea (@CryptoKea) January 20, 2020
When a “10” was seen in May 2017, it marked the beginning of an exponential bull run that brought BTC from under $3,000 to $20,000 in around eight months’ time.
And when a “10” was seen in June of 2019, it marked the $14,000 local top for Bitcoin.
The latest Google Trends “10,” Kea said, likely marks the start of a parabolic run-up that will bring prices much higher than the $14,000 high.
He added that the “long-term upwards trend” for this metric, which is correlated with growth in the price of Bitcoin, is “undeniable,” pointing to a logarithmic corridor confirming that over time, more and more people want to buy the cryptocurrency.
Not Only Massively Bullish Sign
It isn’t only the Google Trends data that suggests Bitcoin will soon go parabolic and explode past $10,000, $20,000, and potentially beyond as time elapses.
An analyst going by SatoshiWolf recently laid out three macro reasons why BTC is poised to explode higher in the coming year. They are as follows, as reported by this outlet previously:
Firstly, the recent price decline that Bitcoin has seen from $14,000 to a low of $6,400 has been marked by decreasing volume, which he claims is “bullish.” Indeed, falling volumes in a downtrend would indicate that the sellers are gradually losing control.
Secondly, BTC surged off the key $6,400 macro support level, which has been a level of utmost importance since early-2018, in December on high buying volumes. This indicates bulls are in control.
And lastly, the block reward reduction for Bitcoin, which will decrease the inflation rate of the cryptocurrency by half, is on the horizon (May 2020). This event has been found to be correlated with upswings in the market.
There’s also a price model from quantitative analyst PlanB which shows that after the halving, the fair value of BTC will rise to $55,000 to $100,000.
The model has been backtested to a 95% R squared, which is extremely accurate in statistics terms.
Some have been even more optimistic, saying that per previous trends, the next bull run could bring the price of the cryptocurrency to $400,000, equating the market cap of BTC to that of gold.
Featured Image from Shutterstock The post appeared first on NewsBTC. origin »
If you look at CEL’s price chart, you’re probably going to wish you bought some of its tokens prior to its bull rally. In fact, its parabolic run this week has earned it the top spot as the best pThe post Here's what you're missing about CEL's 261% parabolic rally appeared first on AMBCrypto.
XRP has given up a serious percentage of its recent gains, with the cryptocurrency’s parabolic rally fading and showing few signs of strength as sellers rise with full force. The cryptocurrency’s parabolic rally came about shortly after it plunged to lows of $0.
It’s no secret that Ethereum has been one of the best performing major altcoins of 2020, with its rally turning parabolic after it broke above $200. This parabolic rally – which occurred over the span of roughly two weeks – allowed ETH to surge as high as $290.
Ethereum has been able to continue inching higher today after ETH outperformed Bitcoin and the aggregated crypto market yesterday. This upwards movement is very tempered, however, and the crypto is still struggling to break back above $170.
All throughout the tail end of 2019, as Bitcoin’s parabolic rally came to an end and the asset fell back into a six-month-long downtrend, the price action was so similar to the run-up to the 2017 all-time high, that the rally has been dubbed a “textbook echo bubble.
Ethereum has been closely tracking Bitcoin and the aggregated crypto markets over the past several days, which means that ETH’s multi-day price action has primarily favored sellers. In spite of this, ETH is still trading up significantly over a weekly period, and the cryptocurrency has been able to build some short-term momentum today, allowing it... The post appeared first on NewsBTC.
Bitcoin’s 2020 uptrend has drastically shifted the market structure of BTC, which was previously shaping up to be incredibly bearish while it was hovering within the $6,000 region. The subsequent rallies from this price region, however, have allowed it to climb all the way up to $9,200, which appears to be a key resistance level... The post appeared first on NewsBTC.
Bitcoin is technically still in a bearish trend. It is down by more than 30 percent since the 2019 yearly high when it surpassed $13,000. This month will decide whether BTC enters a new extended bull market or falls back into a bear market.
Ever since Bitcoin investors got a taste of parabolic price appreciation in 2019, which saw BTC gain 330% in some four months, they’ve been craving it, evidenced in the incessant flow of lofty predictions on Crypto Twitter.
Ever since Bitcoin investors got a taste of parabolic price appreciation in 2019, which saw BTC gain 330% in some four months, they’ve been craving it, evidenced in the incessant flow of lofty predictions on Crypto Twitter.
The recent gains seen by Bitcoin and the aggregated crypto market have been massive by most standards but have not even come close to comparing with the parabolic rally incurred by the controversial Bitcoin Cash hard fork Bitcoin SV (BSV).
It is beginning to look increasingly as though Bitcoin’s (BTC) recent rally from its early-January lows of $6,800 to its recent highs of $8,900 is much more than a fleeting relief pump. BTC bulls have been able to hold the crypto within the upper-$8,000 region for the past day, signaling that buyers currently have enough... The post appeared first on NewsBTC.
Last year, it was all about Bitcoin and its parabolic rise out of its bear market bottom. The first-ever cryptocurrency consolidated for months in a low range around $3,000 before exploding 350% to $14,000 at the year’s high.
Contentious Bitcoin Cash hard fork Bitcoin SV (BSV) has surged over 25% percent in the past 24 hours. The cryptocurrency’s significant price increase has led to a parabolic rally which may result in all-time highs for BSV.
Controversial Bitcoin Cash hard fork – Bitcoin SV (BSV) – has been caught within a massive uptrend over the past several days, which has allowed its price to go on a parabolic rally that is leading it up towards its all-time highs.
Ethereum has been closely tracking Bitcoin’s volatile price action as of late, which head led ETH to gain a firm position within the $140 region. The cryptocurrency’s bulls have shown signs of growing vitality over the past several days, which comes as the altcoin market begins flashing hints of having immensely bullish near-term potential. It... The post appeared first on NewsBTC.
2020 has so far been a great year for Bitcoin (BTC), as a combination of bullish technical and fundamental factors have helped lead its price as high as $8,400 over the past ten days. This bullishness did show some signs of slowing down yesterday, but bulls have since been able to fend off the bears... The post appeared first on NewsBTC.
XRP was one of 2019’s biggest losers, posting sizeable year-to-date losses in spite of the massive gains incurred by Bitcoin and some other major altcoins. This poor price action has largely stemmed from controversy surrounding the token’s close ties to FinTech company Ripple.
The next Bitcoin parabolic rally may take prices as high as $141,173, based on logarithmic band analysis. But the trek to those highs may take a while testing various support levels. Bitcoin Price Prediction Based on Previous Bands Charted Forward Analysis by Benjamin Cowen based this prediction on a backward look at BTC performance so far, especially in relation to the halvings of the block reward.
After an early 2019 parabolic rally, Bitcoin has spent the last few months locked within a vicious downtrend that’s seen nearly 50% of the crypto asset’s value eliminated. But after months of sustained selling, crypto analysts have begun to watch for signs a bottom may be forming, and according to one prominent trader, Bitcoin price.
While most of the crypto analysts across the market spent the bulk of 2019 overly optimistic and bullish, expecting Bitcoin’s bull run to have already commenced, one crypto analyst has remained cautious, waiting for Bitcoin’s parabolic rally to cool off and come back down to the “buy zone.
Bitcoin price has been falling steadily for months now back into a deep downtrend, that’s putting the asset at risk of erasing all of the gains from the 2019 parabolic rally, and putting any chance of a new bull run in Bitcoin in jeopardy.
Tezos (XTZ) seems to be immune to the recent crypto market slide, continuing its rally from the past weeks. XTZ was up to as high as $1. 33, gaining momentum and potentially signaling a successful quarter.
Following an incredible parabolic rally and recovery during the first half of the year in 2019, Bitcoin price has spent the second half of the year in an ongoing downtrend that has taken the price of the asset back into a range not traded in since the depths of the bear market.
Ever since Bitcoin’s bottom at $3,100, the crypto market has been convinced that the first-ever crypto asset was building a foundation for its next bull run. But a powerful parabolic rally this year was unable to set a new all-time high, putting a new bull run in jeopardy.
After failing to set a new all-time high, crypto investors are unsure if Bitcoin’s bear market has ended and the bottom is actually in. If the bottom isn’t in, the entire 2019 parabolic rally could have been the B wave in a corrective ABC pattern, and the final C wave could take Bitcoin price to.
As the 2019 parabolic rally came to a close, Bitcoin began to trade within a large, multi-month descending triangle pattern that only just recently broke down after extensive consolidation. According to a popular crypto analyst, the breakdown resulted in Bitcoin forming a bear flag, and it likely signals further continuation to the downside, potentially as.
Analysts and investors alike have long looked towards Bitcoin’s halving as a potential catalyst that could spark the next massive parabolic rally and usher in a new era of growth for BTC and the aggregated crypto markets.
Bitcoin’s parabolic rally of 2019 is now a thing of the past, and what lies ahead is anyone’s best guess. Crypto analysts are divided, with some calling a quick return to a bull market, while more bearish investors believe that Bitcoin has more to fall and will look for a bottom lower.
A new technical analysis indicator has been launched that is named after an iconic trader who accurately predicted Bitcoin’s bottom over a year before it happened, due to his familiarity with parabolic assets retracing after an overly powerful rally.
With Bitcoin price collapsing after a powerful parabolic rally, large-cap altcoins such as Ethereum, XRP, Litecoin, and others may finally have their time to shine. If the assets among the top ten cryptocurrencies by market cap are able to hold support at current levels, they may be ready for as much as a 20% breakout.
2019 has been a tough year for altcoin investors, who have had to sit back and watch their asset’s value fall further while Bitcoin went on a parabolic rally. But no subset of altcoin holder has suffered as much as holders of XRP, the native token of the Ripple protocol.
After a powerful parabolic rally in the second quarter of 2019, Bitcoin price is struggling to maintain the bullish momentum the crypto asset once had behind it and is currently consolidating in a tightening triangle formation.
At the start of 2019, altcoins like Litecoin, Ethereum, and XRP started to climb and show glimmers of hope that the bear market might finally be over, but a powerful parabolic Bitcoin rally sucked the momentum and capital right out of the altcoin market.
Bitcoin price has been chopping back and forth, up and down, since this past June when its parabolic rally was stopped short of retesting its previous all-time high. While bears have repeatedly failed to push Bitcoin price through critical support, the crypto asset has been clearly locked in a downtrend for the last three months.
Coming in the lead-up to the September 23rd launch of Bakkt’s BTC futures contract, Bitcoin’s explosive Labor Day rally seems to have revived sentiment amongst the bulls. A number of factors suggest the largest cryptocurrency by market capitalization could make lower lows before making its much-awaited parabolic advance, however.
Cryptocurrency veteran, one of the most popular analysts Piter Brandt, tweeted a technical analysis of bitcoin movement. The graph shows that the target of the next rally is $ 100K. Piter Brandt analyzed the trajectory of the previous movement of the oldest crypto coin.
Few hours ago, in a tweet, acclaimed trader and analyst Peter Brandt hinted at bitcoin ‘possibly’ entering the next leg of its next/ fourth parabolic price rally. But, what really is his claim based on? Retweeting a tweet from Raoul Pal, Founder/CEO – Global Macro Investor and Real Vision Group, Peter shared a BTC/USD chart which looks something as below.
In December 2017, Bitcoin hit its all-time high of $20,000. In December 2018, it touched its bottom at $3,200, before going on the parabolic rally that brought us to the price point where are right now – a critical junction that either takes us into a reaccumulation phase, or Bitcoin goes on to set a.
After a strong rejection at $14,000, Bitcoin’s parabolic rally has been cut short, and the leading crypto asset by market cap is taking a much needed pause and correction after bringing investors over 300% gains since the start of 2019.
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.
Binance chief strategy officer (CSO) Gin Chao says he believes bitcoin can as high as $50,000 to $100,000 in this current bull cycle, as per an interview with BlockTV. The Binance executive does not, however, expect this parabolic BTC advance to be replicated in the altcoin market.
After a solid rally there will always be a correction, it is in the nature of markets. Bitcoin’s parabolic surge to just under $14,000 in barely three months had to end somewhere and this week that pullback has deepened.
The market rally of Bitcoin in the past month has been nothing but incredible. The virtual asset continued to breach past major key resistance in the trend charts as consolidation was also achieved higher with minor corrections over the period of time.
The parabolic advance that started on April 2, caused a lot of FOMO, pushing the price as high as $13,800; the rally ended on June 26, and it has been a slow day ever since. BitMEX, one of the most famous leverage trading exchanges, known for its Bitcoin perpetual contract, surged with traders trying to […]
The post BitMEX exchange hits $1 trillion in Bitcoin trading volume following the parabolic advance of Bitcoin appeared first on AMBCrypto.
The bitcoin price roared to a new 2019 high in the early hours of Wednesday, briefly touching $13,000 on the Huobi exchange. Bitcoin is now at levels not seen since January 2018 with a market capitalization of $224.
As speculative interest has returned to bitcoin futures markets, so too have short sellers. According to the most recent CFTC Commitment of Trader’s (COT) report, hedge funds may have been getting roasted by BTC/USD’s meteoric rise through $11,000.
The bitcoin price carved out a new 2019 high on Sunday, piercing above $11,200. The parabolic rally marks a 250 percent recovery from the lows of October 2018. But this price rally is missing one thing: retail investors.
Войны, эпидемии, природные катаклизмы и хакерские атаки на жизненно важные системы, увы, в последние годы становятся фоном повседневности. Все чаще многие из нас привыкают радоваться такой простой вещи как, например, бесперебойные поставки воды и электричества.
This week started a bit ugly for ICP but the price is looking strong today following a small increase from a temporal support level yesterday. However, the overall market remains bearish as it charges for gains.
Investors in the crypto markets may be prone to irrational thinking when bullishness sets in, but advisors can offer a balanced and rational investment strategy that counters the hype.
Возвращение турбулентности на крипторынок и падение стоимости биткоина вызвали всплеск интереса в интернете к ведущей цифровой валюте. По данным сервиса Google Trends, на минувшей неделе количество поисковых запросов по биткоину достигло самого высокого уровня с мая прошлого года.