Bitcoin has begun to stabilize in the low-$10,s. The leading cryptocurrency now trades for $10, as of this article’s writing. The stock market has also begun to range after a devastating drop last week and at the start of this week. Analysts say that Bitcoin must hold current levels or risk a return to a bear market. May 30, · Blunts used his prowess in Elliott Wave analysis to forecast the Bitcoin bear market bottom. The technical trader told his followers in June of that Bitcoin would bottom out . Mar 04, · How to Earn Bitcoin (BTC) Really Fast Even in a Bear Market? Reading Time: 3 minutes by Aisshwarya Tiwari on March 4, Press Releases. is a year full of mixed feelings for crypto traders. The bitcoin price started from $3, and once went to the moon at $13, but finally ended at $7, on the last day. Bitcoin .
Bear market btcBitcoin Is Now Officially In Its Longest Bear Market Ever - CoinDesk
Here are my chart-based calculations for each Bitcoin bear market going back to Time duration and maximum percent loss are included. The time needed for Bitcoin to move from the bear market low to the next ATH is also included.
Dates are calculated on a week-ending Saturday basis. Some recover very quickly, while others can take months or years to make a new all-time high. Image: MotiveWave Ultimate. However, bear market 3 did much more technical damage.
Once the low was made it took nearly days for it to make a new ATH. Statistical analysis is more reliable when at least 30 datasets are included. That said, here are some interesting Bitcoin bear market stats for your consideration:. Smallest drawdown : Shortest time between max drawdown and the next ATH: 14 days. Longest time between max drawdown and the next ATH: 1, days. The recent bear market Dec. This suggests that Bitcoin sellers have been far more aggressive than buyers.
The nearly 93 percent decline witnessed between November and February took only 84 days to complete. Once the bottom was in place, it took a whopping 1, days for Bitcoin to achieve a new ATH March One trader shared the chart below earlier this week. It shows that Bitcoin cleanly bounced off the depicted moving average on at least four separate occasions.
Also, during the bear market last year, the level acted as a key point of resistance:. Proper bull markets should respond to it. Analysts believe a bounce for BTC is likely, which should help assuage fears of a loss of the abovementioned technical level. Declining equity prices encourage more monetary and fiscal stimulus. Could you be next big winner? I consent to my submitted data being collected and stored. BTC continues to be accumulated by Grayscale, a leading digital asset fund manager.
The drop has made some suggest that a strong move lower is on its way. But Benjamin Blunts warns his followers to watch out for a sharp move down before Bitcoin hits the target. Like we say in breakout then shakeout, but then I thought how often does lightning strike twice?
Blunts used his prowess in Elliott Wave analysis to forecast the Bitcoin bear market bottom. The prediction turned out to be on point as BTC hit the target on December 15th. Please check your inbox or spam folder to confirm your subscription. Thank you.