Decision Time For Future Of Bitcoin As Crypto Teeters On Bear-Bull Edge

After spending the first half of the year in a powerful, parabolic uptrend, Bitcoin price has been suffering from a downward spiral ever since the summer when the first-ever cryptocurrency topped out at $14,000.
Now that Bitcoin has erased nearly 50% of the gains from the run-up, it’s decision time for the leading crypto asset and the rest of the crypto as a whole, according to one financial analyst, who says that whatever happens here, will either send Bitcoin into a new bull market, or an extended, multi-year bear market – a first for the cryptocurrency who has long been in a secular bull market.
Is The Secular Bull Market in Trouble, Ready for First Real Bear Market?
The crypto market is at an impasse. Bears cannot seem to push the price of Bitcoin lower than current levels, but bulls have been unable to push Bitcoin out of the downtrend it has been in since late June 2019.
Related Reading | Bah Humbug! If Bitcoin Bulls Can’t Reclaim $7,800 It’s Coal For Christmas 
Most of the projections analysts have been using, suggest Bitcoin should be ready to embark on its next bull run, and many indicators had been supporting the theory up until recently.
But ever since Bitcoin price was rejected at $14,000 – setting a lower high in the crypto asset’s price charts – the market has turned bearish, and Bitcoin is at risk of falling back into a bear market for the foreseeable future.

Ethereum Highly Bullish Despite Setbacks; Here’s What Could Propel It To $200
Wednesday January 22, 2020

Ethereum is slowly rising from the $162 support area, similar to bitcoin from $8,500. ETH price could start a decent increase to $180 or $185 if it settles above $170. Ether price is showing...

The post Ethereum Highly Bullish Despite Setbacks; Here’s What Could Propel It To $200 appeared first on 12bitplay - Bitcoin Play.

This is really decision time for ₿ and crypto as a whole, either we go up from here, or we will have a multi-year bear market. I am leaning bullish here. $5.8K is my GTFO to fiat alarm. pic.twitter.com/CMKMtMesE7
— Panama ₿ (@Panama_TJ) December 6, 2019

Bitcoin’s Price Will Go Parabolic Above $10,000 If This Level Holds
Thursday January 23, 2020

Bitcoin has been on an absolute roll over the past month, surging from $6,400 to $9,200 in a jaw-dropping fashion. Altcoins have followed suit, posting even more impressive gains as buyers have finally stepped...

The post Bitcoin’s Price Will Go Parabolic Above $10,000 If This Level Holds appeared first on 12bitplay - Bitcoin Play.

Decision Time for The Future Bitcoin and Crypto
In fact, one crypto analyst believes that its’ decision time for Bitcoin and the entire crypto market. If the number one cryptocurrency by market cap goes up from here, it will, as it has always done in the past, go on yet another parabolic rally that’ll propel the crypto asset’s prices to as high as $100,000 to $1 million per BTC.
Throughout its history, Bitcoin has been in a secular bull market. Even during the asset’s short-lived bear markets, certain indicators never reached into bear territory, suggesting that the young financial asset has only known bull market during its 11-years since its inception.
But that all may change if Bitcoin breaks below $5,800, which the analyst says is his “GTFO to fiat alarm,” or his signal to liquidate his crypto holdings into cash to weather the coming storm.
Related Reading | BTC To Spend 2020 In Accumulation Mode, Ideal Buy Zone
The analyst shared a chart that shows Bitcoin touching the bottom of a cyclical market curve, ready to turn up toward new all-time highs. However, the RSI and MACD appear to suggest that the cryptocurrency is headed toward another bear market, unless it bounces back up into bull territory here.
Whatever happens in the weeks ahead, it will shape the future of the crypto market and Bitcoin itself.
The post Decision Time For Future Of Bitcoin As Crypto Teeters On Bear-Bull Edge appeared first on NewsBTC.

Bitcoin Signal That Preceded 288% Rally About to Flash, and It’s Huge for Bulls
Monday January 20, 2020

While Bitcoin (BTC) has struggled, experiencing two plunges of 7% and 3%, respectively, the weekly chart of the cryptocurrency is on the verge of printing a bullish signal. The signal in question was last...

The post Bitcoin Signal That Preceded 288% Rally About to Flash, and It’s Huge for Bulls appeared first on 12bitplay - Bitcoin Play.

You may also like...