After a bearish year of perennial price swings that culminated in months of tightly wound sideways movement, the (former) bottom has dropped out for bitcoin and the wider crypto market.
By all rights, it’s a complete reversal of fortune from the explosion of value the market enjoyed this time last year, and mainstream media has had a field day exploiting the irony of the peripeteia bitcoin’s price has suffered when we compare it to the investor euphoria of just a year ago.
Bitcoin continues to tumble lower and lower as it struggles to claim any footing in the market. It’s down almost 50% in three weeks and it’s showing very little sign of stopping. It’s currently clutching onto the $3,500 values but it doesn’t look like it can hold on much longer.
BTC-USD, Daily Candles, Macro DowntrendUnfortunately, the consequence of a parabolic market is that, toward the tail end of the parabolic move, it doesn’t bother to retest or establish strong support.
It has become apparent the year 2018 may not necessarily end on a high for most cryptocurrencies. As Bitcoin and top altcoins continue to trend lower virtually every other day, the rest of this year will not be overly pleasant to watch either. The following three short-term EOS price prediction charts confirm things can easily swing in either direction in spectacular fashion.
The EOS Dead Cat Bounce
EOS – Dead Cat? by aliamey on TradingView.
When the history of Bitcoin and blockchains is written, 2017 will be the year tagged as the “turning point” when Bitcoin and “red hot” blockchain technology went mainstream. The steadily rising bitcoin price and market cap is a key, though not the only, indicator that a tipping point has been reached.
Tai Lopez, a prominent investor and analyst, has stated that if the world’s millionaires allocate merely 1 percent of their holdings into bitcoin, the bitcoin price could reach $60,000 in the mid-term.
The poll of former Texas congressman Ron Paul participated by more than 43,000 social media users has shown that the majority of respondents would rather have bitcoin over gold, US Treasury Bond, and the US dollar.
Bitcoin surpassed $10K yesterday. To many, the event was a mark of Bitcoin’s accomplishments. But yet, others are concerned that bitcoin has become too speculative, and a pop in the bubble could be damaging.
Introduced in 2009, bitcoin sort of flew under most people’s radars for several years, until 2012, when it became associated with Silk Road, the now-defunct dark marketplace.
Earlier today, on December 2, the bitcoin price recovered to $10,500, after dipping below $9,000 on November 30.
Since November 1, within a one-month span, the bitcoin price demonstrated a staggering 42.
After surging to $11,441, establishing a new all-time high for the third time this week, the bitcoin price has declined to $9,200.
On November 29, CCN reported that the price of bitcoin surged from around $10,000 to $10,884, recording an $800 daily increase in value.
Bitcoin Cash, Litecoin, and Ethereum price have declined by over 20 percent over the past 24 hours, as the entire cryptocurrency market experienced a major correction.
Bitcoin Cash declined to the $1,200 region for the first time since November 12, while the price of Ether has dropped below $400 after surging to nearly $500 in the past week.
Bitcoin price has surpassed $12,000 in both South Korea and Japan, two major bitcoin markets that are accountable for approximately 74 percent of global bitcoin trades.
South Korea: $12,653
In South Korea, bitcoin is being traded with a premium of over $1,270, a 12 percent premium rate.
The bitcoin price has achieved a new all-time high once again this week at $10,884. The market valuation of bitcoin has surpassed $180 billion, securing a market valuation that is higher than most major financial institutions.
Factors of Bitcoin Price Increase
Initially, optimism surrounding tens of billions of dollars in institutional money being moved into the bitcoin market triggered investors within the cryptocurrency and traditional finance markets to invest in bitcoin.
Кто знает подойдет ли этот кошелек для постоянного приема в сатоши? Я просто майнить не решился, но написал несколько ботов для того, чтобы они собирали с кранов монеты. Я так понял, что это веб-кошел...