November 7, - Share This Article. Facebook LinkedIn. Bitcoin Price in The price of Bitcoin in USD is reported by Coindesk. All prices on this page are nominal (i.e., they are not indexed to inflation). For price history since Bitcoin was first traded on exchanges in , click here. Jun 03, · Today’s market movements, which have pushed the price to a press time high of $, follow a period of elevated bitcoin trading activity. This is the first time the average price of bitcoin .
Bitcoin market 2014Comparing Bitcoin's Chart to - CryptoCurrency Facts
They should be compared like the bubble pop is moving at a faster speed than the , like the bubble is moving at the same speed as the , and to be fair like is moving slower than In all cases we would then be looking to see where in the bubble we are compared to the NOTE : Below is another chart to keep in mind while looking at the one above.
One could argue that we should be comparing more of the rise of to the late — bubble. This might be the case if is moving slower than for example. Still, it is something to be aware of. See more about my thoughts on this longer term view. A little much to look at, but this shows Bitcoin on a log scale from — with bands and moving averages.
It gives you an idea of a potential repeating overarching pattern. If it is going to… we have more downside to come. First and foremost I will submit the idea that the bubble is moving at a faster speed and we are in fact here on June 7th around the equivalent place in the bubble that we were at in either December or late January That above theory assumes that has a flatter structure than I think the supporting evidence that this is the case is the fact there is more trading volume, more popularity, and more certainty about cryptocurrency today than there was in — and thus this is causing more support when prices fall.
With that said, there is also the other theory where the bubble is moving at the same speed as the If it is moving at the same speed, then we are nowhere near the bottom and the bears can break out the Aces… but only after they are done getting destroyed this summer. As the little bump we see around April can be compared to the last bump we have just seen in May ….
In one we are actually around the September level here in … and that means we have some more waves in store, but can expect a gradual decline for the foreseeable future. In another is actually moving slower than !!!
This is a mixed bag for HODLers. Imagine we are currently in an equivalent position to March Which of the horizontal red lines are we at? Which of the red arrows are we at? How much weight should we give to where the pattern is formed on the left side of each structure in relation parabolic rise on the right side? Is the pattern moving faster and is the price action the fourth arrow is pointing to in equivalent to the hump we just saw at tax time meaning we are currently at the end of the pattern and will see stagnation before another long rally?
Everything I talked about above with some lines and arrows to better illustrate what I mean. NOTE : As a holder you want to be anywhere other than the middle arrow…. So keep that in mind. Good news is we would currently be consolidating around the 4th arrow. We have been going sideways for some time with low volatility at this point, it could be that we are in a zone that is more like the final 5th arrow now meaning the next move would be up.
No way to know for sure, but the best cases that we were at the 2nd and 5th arrow have clearly been ruled out with hindsight. See the chart below for what BTC looks like these days. To me — thus far looks like somewhere between the 4th and 5th arrow when compared against — Now of course, technical patterns can play out, but there is more going on then just patterns repeating despite all the algorithms programmed to consider these patterns and technical factors.
One thing that can throw a positive or negative wrench in the best laid plans is big news. One bit of news that is coming is news about the SEC and cryptos as securities. I think this is bullish long term, but it could also drop the market short term. It is the type of thing that is destined to have an effect.
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