With 2019 now in the history books, looking back at the year it was a rollercoaster ride for Bitcoin traders, with the asset reaching lows around $3,000 then rallying by 350% to $14,000 before falling back down to $6,500 at a local low.
However, according to one analyst, that rollercoaster ride is about to get a lot less bumpy, and probably even boring for most crypto investors and traders over the next few months, before Bitcoin breaks out and the bull market really begins.
Boring Bitcoin Price Action To Precede Next Rally
Traders and investors often like to talk about what would be the “max pain scenario” that would cause the market the most heartache and confusion. Following deep drops in price, late-shorters get squeezed in surprise pumps, only to cause investors to FOMO into a bearish retest, much like what happened in late October 2019 on the heels of news Chinese President Xi Jinping offering his support of blockchain technologies.
Related Reading | The Biggest FUD and FOMO Moments in Crypto 2019
But not all “max pain” scenarios result in powerful price movements that cause major losses to both sides of traders – buyers and sellers – or are a result of extreme volatility. Sometimes, the most painful scenario of all is a boring, sideways market.
First tweet of the year has to be one of those macro ones.
Bollinger band width [denoting volatility] on the monthly chart pushing all time lows.
Would love to see a few months of boring to setup nicely for a solid and sustainable rise later in the year. pic.twitter.com/QWTudP7JqL
— dave the wave (@davthewave) January 1, 2020
That’s exactly what long-term crypto analyst Dave the Wave sees for the future of the cryptocurrency market, including Bitcoin. According to the analyst, Bollinger Bands Width – the measure of the deviation between the two, outer Bollinger Bands denoting volatility, is reaching the lowest levels in recent years, making for great “setup” for a “solid and sustainable rise later in the year.”
However, what comes before the sustainable rise, is boredom and sideways trading, likely in ranges that the cryptocurrency has already spent the last few months trading within, adding to the monotony traders may feel during this period of reduced volatility.
Max Pain Scenario For Crypto Traders Is Sideways at $6,000
Bitcoin spent a short period of time within a tight, sideways trading range at the start of the year as the asset began being accumulated at low prices. But a surge in buying fueled by the PlusToken scam may have caused Bitcoin to break out prematurely, causing a parabolic rally and devastating selloff.
Related Reading | Bitcoin Price Yearly Candle Shows Failed Rally, Longest Wick on Record
Even during this short-lived phase, crypto traders were often complaining about how boring the price action was, after becoming accustomed to price swings of a few th0usand dollars a month throughout 2018. During that time, Bitcoin made repeated trips to support at $6,000.
Once again, Bitcoin appears to be testing and retesting lows in the $6,000 range, and could spend the better half of 2020 doing so. Such price action is bound to cause extreme boredom in crypto and Bitcoin, which could cause more capitulation than the losses have themselves. The post appeared first on NewsBTC. origin »
Short-term holders offloaded significant volumes over the past 24 hours, while large investors, including whales, remained on the sidelines, waiting for more favorable entry points.
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With Bitcoin breaking through $66K, are we seeing the early stages of a long-term bull market or just another temporary spike? Bitcoin is back in action Bitcoin (BTC) is back in the spotlight, crossing the $64,000 resistance mark as the…
The Bitcoin bull market is officially back on track, according to the IFP index. On lower time frames, Bitcoin appears to be trading within a parallel channel, setting the stage for a potential price swing.
Bitcoin mining stocks bounced back in Wednesday’s pre-market session, helped by the recent BTC rebound. Riot Platforms shares rose by over 1%, while Marathon Digital, the biggest miner in the industry, rose by 1.
Addresses that made their first transaction in Bitcoin also swelled.
Bitcoin bounced back in the last 24 hours on favorable news from the Fed.
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Vocal Bitcoin supporter and chief of Blockstream, creator of Bitcoin Lightning Network Adam Back voices staggering BTC price prediction that may happen as soon as BTC flips physical gold
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.
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Bitcoin has been around for over a decade now, and it has faced its fair share of criticism and FUD (fear, uncertainty, and doubt) along the way. However, Bitcoin has always managed to come back stronger.
Key Takeaways Federal Reserve hikes 25 bps, Bitcoin drops over 6% Bounceback in prices follow, however, as market bets on rate cuts down the line Bitcoin originally fell to $26,700 and is now back at $27,700 Tight monetary policy appears to be coming to a close, which is exactly what Bitcoin investors want to hear […]
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Key Takeaways Bitcoin has closed the year down 64%, its worst year since 2018 This bear market is different, as for the first time ever in Bitcoin’s existence, the wider economy is also pulling back Bitcoin’s correlation with the stock market is extremely high, proving it trades like a high-risk asset Fans will hope this […]
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Bitcoin is back below $20,000 and seems on track to re-test the bottom of its current range. The cryptocurrency was showing signs of recovery, but it was rejected near the critical resistance zone at around $22,000.
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Bitcoin continues to move sideways as the week progresses. The benchmark cryptocurrency was pushed back from $40,000 levels and has been unable to bounce back to previous highs. However, BTC has been showing resilience as the traditional market seems to trend lower.
Bitcoin continues its uptrend leaving bears in disbelief. The first crypto by market cap got back in the green after a short squeeze brought it back from the underworld in the low $30,000s. Related Reading | TA: Why Bitcoin is At Risk of Drop Below $42,500 In Short-term As of press time, Bitcoin trades at $44,375 with a 2.
Bitcoin is back above $61,000 ahead of the weekend after a sharp decline took the leading cryptocurrency to under $58k last night. What's assumed to be an issue of a fat finger, it sent the price of Bitcoin crashing to about 10%, but it regained $62k back again soon enough.
Out of the total inflow of $226 million, Bitcoin accounted for $225 million of it for its fourth straight week of inflows as sentiment towards BTC turnarounds.
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Bitcoin recovered above $50K on Tuesday following a rallying that pulled the market back into the green. October has so far been good for the digital asset and investors have begun to return again into the market amid recovering prices.
The Bitcoin (BTC/USD) price crawled back after dropping below $44,000 in the overnight session. The coin rose back to $45,000, bringing its total market capitalization to more than $845 billion.
Bitcoin price is back at $46,000 after a few month reset back to $30,000 and slightly below. A more than 50% collapse from the current all-time high of $65,000 had the cryptocurrency community calling for a bear market, but according to a trend strength indicator, bears are nowhere in sight.
Bitcoin, at press time, was recovering slowly and steadily on the back of a 12. 74% uptrend from its lows of $29,583. In fact, it was trading within the same range as the one seen back in January 2021.
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Bitcoin's breakout above its descending channel boosted the world's largest digital asset back toward the $39,000 mark. Alts such as MATIC and THETA posted gains on the back of bullish sentiment.
Bitcoin has held critical support after a move to the downside on Friday and trades at $37,539. A good old weekend pump has brought it back from the mid-zone of the $30,000 range and now it might make a push towards $38,000.
This week in crypto has been a wild ride, or as crypto-lovers call it, “Monday”. Bitcoin was down 25% (and a few hundred billion dollars) and back up in just days. It is hard to agree on where the price will go next.
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Over the weekend, Bitcoin managed to recover the losses it suffered over the last week completely. From the low of $17,600 on Friday, on Sunday, the price of the digital asset went back to $19,500.
Bitcoin price ended last week with a sharp, $3,000 decline, but the leading cryptocurrency by market cap is already right back where it left off, nearly retesting above $19,000 and setting a new all-time high.
As results seesawed for days during the US election, Bitcoin emerged as a clear winner. The leading cryptocurrency hit highs above $15K, before pulling back slightly as media networks announced that Joe Biden will be entering the White House.
Bitcoin bulls are back after weeks of consolidation. The leading cryptocurrency thrust higher towards $12,000 on Tuesday morning. The coin now trades just shy of that crucial price resistance at $11,970.
With bitcoin falling back towards $11K and news out of the Invest: Ethereum Economy conference, CoinDesk’s Markets Daily is back for your latest crypto news roundup!
In a positive start of the week, Bitcoin's price went past $11,700, last seen 40 days back in early September, right before we crashed below $10,000. At the time of writing, BTC/USD has been trading above $11,500 in the green with $1.
Buyers have stepped back into the crypto market and are holding Bitcoin above $10K. Each time the cryptocurrency has dropped below this level, bargain hunters have leapt into action—aggressively buying and pushing Bitcoin back up.
Bitcoin is in no rush, sitting above $10,000. The leading digital currency is comfortable at its key psychological level, which continues to hold strong. Yesterday, bitcoin gained momentum but soon lost it around $10,500 that has it back at about $10,250 today, following the equity market, which saw an uptick only to move back down.
As markets go through a rough time, along with the bitcoin, people are back to questioning the largest cryptocurrency’s role as a hedge against the macro disorder. The same was said in March when bitcoin crashed along with the rest of the stocks, oil, gold, and other assets.
With bitcoin taking a back seat to the DeFi boom and data platforms aiming for the moon, CoinDesk's Markets Daily is back for your latest crypto news roundup!
With bitcoin pulling back from its bull run and the emergence of YAM-inspired “Spaghetti Money,” CoinDesk's Markets Daily is back for your latest crypto news roundup!
This three-months-and-counting consolidation period Bitcoin is in has many investors with the finger on the trigger. Even though we’re in the middle of an Altseason of sorts, mainly caused by the lack of price fluctuation Bitcoin is exhibiting, the hunters seem to be ready.
Bears are rejoicing now that Bitcoin price is back below $10,000 and at risk of falling further to retest former lows as support. But while recent Bitcoin price action may suggest that bears have resumed control over the short-term trend, bulls haven’t given up the fight.
Bitcoin price action has turned bullish in anticipation of its upcoming halving since the start of 2019, and the leading crypto asset by market cap has only recently started to take a pause to consolidate on weekly price charts.
Over the last couple of weeks, bullish sentiment has begun to return to the crypto market after months of ongoing downtrend. However, one prominent crypto analyst isn’t convinced by the rally, and instead expects Bitcoin (BTC) to reach new lows sending the asset into multi-year bear market.
Market Wrap Crypto markets dump to bottom of trading range, Ethereum, Bitcoin Cash and Litecoin suffering, TenX still climbing. Following almost a week of inactivity crypto markets have started to dump again.
Following the cryptocurrency market’s recent plunge that occurred when Bitcoin failed to stabilize above the $4,000 price level, the crypto markets have seen further instability, with many altcoins continuing to drop today.