The Bitcoin BEAR MARKET Is About To End - Here’s What Shows Us The BAD TIMES Are Over Crypto News 2018

Also Read : IS BITCOIN TO $25,000 STILL POSSIBLE? BTC, LITECOIN LTC DAY TRADING, PRICE, CRYPTOCURRENCY NEWS 2018

Welcome back to another Article here to stay empty. Tech cash also evolves. You are having a good one. In today's Article, I want to go ahead and discuss what exactly could cause the end of the bitcoin bear market that we seem to be stuck in as of late and while prices aren't all that bad, we're kind of in a purgatory zone now. A lot of very vocal people such as John McAfee, Tom Lee, and those sorts of public figures surrounding bitcoin and in the cryptocurrency sphere are still very bullish on bitcoin and believe that the practices will climb higher soon. However, I know a lot of people on a personal level, and I'm sure many of you feel the same way. A lot of people don't really believe that bitcoin is soon to make a good recovery. So in this Article I'll be discussing why the bear market is soon to end and we will soon see a pretty good turnaround.

Bitcoin is down roughly 60 percent from its all time high

So before I go ahead and jump right in our mind, all of you drop leg on this Article if you like it, Follow and share for more, and let's go ahead and jump right in. So it's an understatement to say the current price of the world's largest cryptocurrency pails when compared to its past glories at $6,700. With that being said, marketing conditions aren't the same as they have been in years past. In da two bitcoins. 20 17 boom has brought new attention and with it traders and investors who are left wondering if the asset can ever return to its former glory, and certainly there's no shortage of ways to approach the question, but one effective method is to look at the charts for historical patterns that could speak to investor psychology and perhaps yield valuable hints and clues about future performance.

Applying these theories, a market might be expected to bottom or reach a new low after a speculative bubble bursts and a moment often referred to as capitulation consisting of extreme selling over a short period of time. The infamous 2014 bitcoin bear market finally bottomed out after it lost more than 40 percent of its value in less than three days at the top of 2015. I'm not sure if many of you remember that time period, but it was definitely a nail biting and various stressful period, especially for anyone holding onto bitcoin. The price definitely tanked in just a couple of days and that was honestly quite terrifying since such an event could be measured and understood in real time. Some Eagle eyed investors picked up on the move, even drawing attention to it on social media. That's because to churn addicts known as technical analysts, all known information about a particular asset is reflected in its price action.

It's impossible to ignore the implications a bitcoin etf

So in order to predict bitcoin's future, taking a look at its price, history is perhaps the best place to start. Now, analyzing these charts is an inexact science and there's no guarantee history will ever repeat. With that being said, observing the bitcoins, past price action yields three possibilities worth of being discussed and considered. So the first possibility is we've seen the worst of the price movements. While in technical analysts only take price action into account. It's impossible to ignore the implications a bitcoin etf could have on prices of the cryptocurrency as an indication of the effect of ETF can have on prices. I'm an asset. Gold prices increased dramatically in the years following the introduction of an ETF. Using this as a measure, it's volunteer, assume bitcoin would come to a similar and explosive fate with several ETF proposals awaiting decision. Most importantly, the van eck solid x etf on September 30th.

A trader must account for any possible outcome. The market is already overwhelmingly bearish, so the true devil's advocate would play contrarion and account for the etfs trend to changing approval, ascending trend lines of support, and have played an important role throughout the history of bitcoin prices and we definitely still have to consider them. The first trend line took effect in 2012 when it provided reliable support for a strong uptrend from two to $16 after passing. $16 price action. One completely parabolic, straying away from trendlines until making a return. At the end of 2014, so situation number two that could lead to capitulation, we could see the 3000 to $5,000 range come into play. If there's no bitcoin etf approval, one could argue there's no reason for bitcoin to resume it's bullish uptrend until the market bottom occurs like it did in 2014 to 2015. So here lies the second bear market ending scenario, looking at how dramatically price ranked it to a breach of its first longterm ascending support that we experienced a couple of months ago.

It's reasonable to assume it would have a similar reaction if the current trend line breaks, and if this does occur, there are two locations that present optimal bottoms following substantial capitulation. The first bottom zone, so to speak, lies in the $5,000 area since it was the peak resistance level of the prior bull move from $3,000 to $5,000. It's important to note that the $5,000 area has yet to be truly tested as support since it was initially breached as resistance. This suggests a test of the level as support is likely and Alexa it as a potential candidate for the market bottom, however, capitulation from current levels would not be overly severe for the $5,000 level to hold, perhaps leaving some to believe the market needs more extreme sell offs in order to find a true bottom. That is where the potential next bottom could actually lie, which is the bottom zone, so to speak, of $3,000 and we could see that come into play, but it doesn't seem incredibly likely.

So next we really need to discuss the possibility of the $1,000 bitcoin price doomsday scenario. Perhaps here lines another devil's advocate. The ultra bearish contrarion upon a close examination of the price level $240 for the first ascending support trend line was breached in January of Twenty 15. It coincidentally also marks the exact peak of the prior mega bore run during which the price surged nearly 1000 percent from $16 to $240 per unit. In a sense, breaking both the trend line and prior bull run high was a double whammy to investors giving them no other choice than to lose complete hope. The necessary precursor to market capitulation according to this theory of the current ascending trendline breaks price may not find its bottom until reaching the high of the prior mega bore run, which in this case lies in the $1,200 area. If prices were to fall into this level, it's last hope would be to eventually find a new ascending support for the entire bull cycle to repeat an estimated outcome predicted by many previous ascending trend lines.

So in other words, let me go ahead and jump in with my opinion. Now. I've given you all of this information is pick one likely to see any of these scenarios. I think that really the most likely scenario out of the three is the three to $5,000 price range scenario. Of course, $5,000 right now isn't extremely unlikely. I don't necessarily know if we will see that price anytime soon, but it's not out of the question. However, I think that once dropping to $5,000, we would see bitcoin's price turnaround at that point as more institutional support comes on and smaller investors even begin jumping in. I also will say that doing a thousand dollar extreme bear scenario is at least interesting to consider and really if we saw the $1,000 price point, I think a lot of people would hold on simply because at that point most people wouldn't really have anything to lose and while the price could drop below $1,000, it seems extremely unlikely.

So I really don't think that we'll see that happen. However, it definitely is interesting to consider. So what do all of you think, do you think the big one will soon see a bottom price? At which point we'll see a major price reversal followed by a huge bull run, or do you think that we're going to kind of sit in limbo for a bit longer? Of course, these are all my opinions expressed in this Article with the opinions of the professionals. So go and check out the article that I will have linked and let me know what all of your thinking down the comment section below. As always, folks, I want to thank all of you for watching hope. All of you enjoyed this Article and learned something. If you did, drop it a Upvote, Follow and share for more. I'll see all of you in the next one. Have a good one folks, and audio.

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