Bears die: the number of short positions on Bitcoin has reached a three-month low

Date:

2018-11-08 20:15:09

Views:

3283

Rating:

1Like 0Dislike

Share:

Bears die: the number of short positions on Bitcoin has reached a three-month low Source:

Yesterday, bearish sentiment set record over the past three months. According to the stock exchange Bitfinex, the amount of open short positions on Bitcoin fell to its three-month low. At approximately 11:00 UTC, the number of shorts fell to 21 434, that is, 33 percent only for the last eight days.

Will this event start bullrun? During the fall, the number of long positions grew steadily, though only by 10 percent in a week.

How will this affect the price of Bitcoin

Indeed, the mood of the market players gradually begin to change in favor of the bulls. 29 Oct cryptocurrency almost broke out of the narrow horizontal channel, but buyers failed to gain a foothold on the desired price levels. As a result, the value of the asset grew by only 4 percent, and then again fell down.

On the side of the bulls also is the fact that price of Bitcoin is historically the most growing in the fourth quarter of the year. According to Coindesk, in the history of cryptocurrencies just single Nov ended in the loss of value — it was back in 2011. If you look at the chart below, it becomes clear why in the beginning of November, the number of shorts falling rapidly to a minimum.

image Source — Reddit

When most traders are playing the short or long trading position becomes the «crowded», that is, the asset enters a phase of oversold or overbought. In such a situation can happen short/long squeeze — a sharp price movement against the General mood of market players, traders are forced to close a losing position, thus even more pushing price in the opposite direction.

However, this is far from us. The ratio of longs to shorts is still about the same level — 53 percent to 47 percent. The exact date of the beginning of bullrun you can always find in our .

Recommended

Co-owner Bitcoin.org Coinbase Pro ridiculed and called a stock exchange Scam

Co-owner Bitcoin.org Coinbase Pro ridiculed and called a stock exchange Scam

co-Owner Bitcoin.org and most popular forum about cryptocurrency Bitcointalk.org Cobra called Coinbase Scam Pro trading platform American crypto currency exchange Coinbase. In his tweet he wrote «if you read Coinbase Pro backwards, get the word ...

The Ethereum is a cryptocurrency Scam. A new report Chainalysis

The Ethereum is a cryptocurrency Scam. A new report Chainalysis

When people learned how to create a new cryptocurrency and began to build their infrastructure like marketplaces, in the field began to appear and fraud. According to blockchain auditor Chainalysis for the past two years, fraud in the ecosystem has s...

Rally Bitcoin — deception. Well-known economist advises to invest in gold

Rally Bitcoin — deception. Well-known economist advises to invest in gold

Director of Euro Pacific Asset Peter Schiff does not see anything supernatural in growth . Recall that the main cryptocurrency has already risen by 179 percent since the beginning of 2019 and is now trading at the level of $ 8540. According to Schiff...

Comments (0)

This article has no comment, be the first!

Add comment

Related News

VEB and the Grozny mayor's office transferred the housing sector on the blockchain

VEB and the Grozny mayor's office transferred the housing sector on the blockchain

In February, the first Deputy Chairman of VTB Olga Dergunova positively the prospects of the blockchain. According to her, the technology will improve the speed of transactions and security standards. To move from words to action ...

Hacker 1337. How to hack Etherscan not to cause any harm

Hacker 1337. How to hack Etherscan not to cause any harm

Monday on the website Etherscan.io appeared a pop-up message with the numbers 1337. The visitors began to panic and spread rumors about hacking Explorer. really hacked, but the damage from a hacker attack was zero. About it writes...

The attack stole $ 2 million Pirl? It does not matter, the developers will still napadayut

The attack stole $ 2 million Pirl? It does not matter, the developers will still napadayut

October 14, developers Pirl recorded a 51% attack on the network of cryptocurrency. Immediately after discovering the burglary, the officers undertook to remedy its consequences and at the same time asked stock exchanges to freeze...

It's not the money: the representative of the Bank for international settlements again criticizes Bitcoin

It's not the money: the representative of the Bank for international settlements again criticizes Bitcoin

bitcoin is a speculative investment with great potential for growth. Thinks most cryptoendoliths, but the owner of the shares of one of the world's largest financial institutions disagree. In his opinion, Bitcoin and altcoins are ...

Bitmain broke? The company cannot pay its debts with its main supplier

Bitmain broke? The company cannot pay its debts with its main supplier

Now will not cooperate with its main chip supplier Taiwan Semiconductor Manufacturing Company (TSMC). The relationship between the two companies are not in the best shape, Bitmain already owes over $ 300 million for the supply of ...

The Ethereum broke through important resistance. Waiting for the increase to $ 230

The Ethereum broke through important resistance. Waiting for the increase to $ 230

Happened — the price of Ethereum struck one of the most important local resistances. Asset managed to gain a foothold above $ 215, now this should serve as a good support for the medium-term uptrend. If all goes according to the b...

Mining-pool closes BTCC. What happened?

Mining-pool closes BTCC. What happened?

this week the industry of Bitcoin mining and then shakes. BTCCPool announced his «indefinite» closing on November 30. A pool that is mining-a branch of the Hong Kong crypto currency exchange (previously BTCChina), opened...

Charlie Shrem denies charges of the Winklevoss brothers. But then who's lying?

Charlie Shrem denies charges of the Winklevoss brothers. But then who's lying?

Early entrepreneur Charlie Shrem denies charges that he allegedly stole 5 thousand BTC from Tyler and Cameron Winklevoss. On Monday, Shrem was presented to the district court of new York document which denies the accusation . He a...

Stellar distributes $ 125 million in tokens XLM. Where and how to get money

Stellar distributes $ 125 million in tokens XLM. Where and how to get money

One of the largest cryptoservice Blockchain is currently conducting «the great distribution of coins in the history». The company will distribute $ 125 million in tokens Stellar (about 500 million coins at the current ex...

Why Bitcoin will grow to 10 thousand dollars by the beginning of 2019? Response of traders

Why Bitcoin will grow to 10 thousand dollars by the beginning of 2019? Response of traders

the Fall in the volatility of Bitcoin has almost erased all hopes of investors see a five-digit amount for 1 BTC at least to the end of this year. The probability is still there, but it is not above 19 percent. Sure, two of the au...

Earnings projects at the ICO. Why don't we ever learn the truth?

Earnings projects at the ICO. Why don't we ever learn the truth?

last year at this time was at the hearing at all. ICO projects continued to grow even during the subsequent market decline. And here is the answer to the question «how to grow?» will strongly depend on who you ask. There...

Too difficult: the Nobel prize in Economics does not understand how the blockchain

Too difficult: the Nobel prize in Economics does not understand how the blockchain

Recently held a debate between the former Federal U.S. attorney Catherine Hawn and Nobel laureate Paul Krugman. Opponents discussed the current state of cryptocurrency in the world and compared them with the dollar. Recall, Paul K...

Apple removed popular podcast on the cryptocurrency. What's the matter?

Apple removed popular podcast on the cryptocurrency. What's the matter?

November 5 from the us iTunes Store disappeared cryptocurrency podcast «Off the Chain», who took fourth place in the category of «Investments». Podcast lead partner Morgan Creek Digital and cryptocurrency analy...

Risk management in FINMA does not rule out Bitcoin for 52 thousand dollars

Risk management in FINMA does not rule out Bitcoin for 52 thousand dollars

the Office of supervision of the operations of the financial market Switzerland (FINMA) has advised that banks and other financial institutions to increase the coverage of the risks of investing in cryptocurrency 800 percent from ...

Bullrun here: when Ripple will increase to one dollar?

Bullrun here: when Ripple will increase to one dollar?

October has ended, but the holders ripple's still celebrating — altcon rose again. It seems that the cryptocurrency is repeating this pattern and starts a price rally in the first days of the month. As before, there is now a high ...

What is known about hard forks of Bitcoin is Cash at the moment? Summarize

What is known about hard forks of Bitcoin is Cash at the moment? Summarize

Recall the recent exchange Coinbase announced support for the Bitcoin roadmap Cash published on bitcoincash.org. If it is still not clear what the outcome of «civil war» between developers BCH. At the moment there are th...

Mining ecofriendly mining of cryptocurrencies. Is this true?

Mining ecofriendly mining of cryptocurrencies. Is this true?

Krause and Max Tabet is Tolaymat from the Agency for environmental protection of the United States conducted a study on the order of the British journal Nature Sustainability. The results showed that for the extraction of every do...

How is the price of cryptocurrencies? Detailed analysis

How is the price of cryptocurrencies? Detailed analysis

I'm Sure many followers of Bitcoin well remember how at the end of the year we were promised bullrun worse than last year. The point is that it's already November 2018, and some serious movement in the market is still not observed...

The Ethereum comes out of the stage of accumulation. Analyze graphs

The Ethereum comes out of the stage of accumulation. Analyze graphs

Ethereum finally perked up and even shows signs of the presence of buyers in the market. Recall that the previous week a small rise, which was reflected in the second capitalization of bitcoin. However, to rely on global bullrun s...

Bitcoin will a new high in 2019. How will it be?

Bitcoin will a new high in 2019. How will it be?

Founder and General Director of investment company Digital Galaxy Capital Management Mike Novogratz predicts a reversal of trend in the near future. Overcome a mark in 10 thousand will lead to new highs. Bitcoin probet new heights...