The fact that the “bearish” market for cryptocurrency is coming to an end is indicated by too much.
Analyst Phillip Nunn draws attention to the fact that "Bitcoin is approaching the longest in its entire ten-year history downward movement of its price." And makes the following conclusion:
“I’m sure of Bitcoin more than ever. And this is precisely because there was a “gold rush” on the cryptocurrency market at the end of 2017 ”.
#Bitcoin is fast approaching its ten-year history
I have never been more confident. And this is all due to the “Gold rush” at the end of 2017.
– Phillip Nunn ? (@PhillipNunnUK) January 25, 2019
Another expert, who is known on Twitter under the nickname Moon Overlord, recalls that until May of next year there is not much time left when “halving” is expected to occur (halving the remuneration for creating a block in a Bitcoin network, ed. . ), therefore, “you have only a few months to buy bitcoins at the current low price”.
#Bitcoin has traditionally been starting
May 2020
In this case of low price, you can buy at $ $ BTC at this low of price. Pic.twitter.com/aWDIHWDyKC
– Moon Overlord (@MoonOverlord) January 23, 2019
The halving factor will play a role in Bitcoin pricing much earlier than it happens – Willy Woo, an expert on technical market analysis, is convinced. Back in November 2018, he stated that due to the expected halving, the “bottom” on Bitcoin was expected no later than the 2nd quarter of 2019, after which the cryptocurrency would begin to taxi out for takeoff.
Q2 2019. Putting together the blockchain view, I’ll be around Q2 2019. We’ve got a long grind up.
/ end
– Willy Woo (@woonomic) November 13, 2018
The behavior of Bitcoin in recent weeks may indicate that the period of the beginning of a new wave of accumulation of digital assets may begin at any minute. The volatility of cryptocurrency №1 is now at the minimum level for two months, and the current week has become the quietest in terms of price fluctuations since October last year.
Over the past three months, bitcoin price volatility has reached 3.49%, having been at this level at the lowest level since November 22, 2018. It is curious that the quarterly volatility of Bitcoin prices began to decline as early as 2018.
As the user of Moon Overlord notes, the CBOE-provoked withdrawal of VanEck’s application to the US Securities and Exchange Commission for approval to launch Bitcoin ETF did not lead to a further fall in the market. He gives the following arguments:
"No one wants to sell bitcoins at the current price of $ 3,500, which means that we have practically reached the bottom."
ETF withdrawn and we didn’t move an inch… hmm
At $ 3500
I'm starting to sense a bottom https://t.co/kcjxGrswGc
– Moon Overlord (@MoonOverlord) January 23, 2019
His opinion was supported by another analyst under the nickname BenjaminBlunts, who noted:
"The bear market ends not with good news, but with bad ones, which cease to cause further price declines in assets."
When they stop falling on bad news.
hmmmm, I think it’s a lotta perma bears about to get rekt. $ btc
– ?BenjaminBlunts? (@SmartContracter) January 23, 2019
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