The price pattern of Bitcoin is similar to the previous cycles. The New year will be bullrun?
Source:
With the largest collapse in mid-November, it's been a few weeks. What forecasts of prices we haven't seen during this time. showed that the coin still acts as a litmus test for the rest of the stock market and all other currencies hopelessly dependent on its fluctuations. Analysts and traders are continually trying to figure out whether Bitcoin bottom and when he will again spread their wings. In retrospect, we can see how in the winter 2014-2015 Bitcoin has fallen about the same amount.
According to the historical chart Coinmarketcap, from the peak in December 2013, to the bottom of the bear market in January 2015 the main crypto currency has lost about 84 percent. Then the price dropped from 1150 to $ 180. At the moment, the loss from the higher grades of the current year is 82 percent. Marketwatch analysts note that the fall schedule is very similar to the one we've already seen.
Source: NewsBTC
According to NewsBTC, in January 2015, the Bitcoin has dropped by 43 percent within approximately two weeks from the beginning of the month. In November 2018 over the same period, the price fell exactly the same 43 percent from 6300 to an annual low of $ 3,600.
Says technical strategist at Fundstrat Global Advisors :
In contrast to the rebound until 2018, weekly RSI is [relative strength index] is now at levels that were not seen since the last bear market in early 2015. BTC neatly gives us hints to the long-term uptrend after three major drops in 2018.
After falling in 2015 the price of Bitcoin for the past eight months kept in the range of $ 220-280. The breakthrough came in October of that year — BTC rose 100 percent during the month and reached the level of 500. This has given rise to the upward trend in the course of 2016, the price «slow» crawled to 130 percent. Then we all know what happened in 2017.
Of Course, not all optimists, and many still do not rule out even lower than $ 3000 before the final restoration. According to Sluimer, they are expected to continue the downward trend of Bitcoin over the next few quarters, which will last until at least the middle of next year. More data to search for .
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