Long Term Bitcoin Price – Our Bitcoin 2019 predictions are ongoing, even though the timeline is backwards. The long-term Bitcoin price chart shows why we believe this. It basically shows a lot of similarities to the previous bear market and how it ended. As always, chart analysis pays off, we think this is more applicable in crypto-land.
In accordance with the methodology and as explained in our 100 investment tips, we use the “start with the chart” principle. First, let’s understand what we can earn from the Bitcoin long-term chart.
Long Term Bitcoin Price
Bitcoin (BTC) remains the largest cryptocurrency by market capitalization. This could change in 2019 or 2020 according to our 5 must-have cryptocurrency predictions. However, for now we only use the long-term Bitcoin chart as our main indicator.
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Long Term Bitcoin Chart Shows 5 Important Things For Crypto Investors! We get the following observations from the long-term Bitcoin price chart below.
This is what we are now starting to see on the long-term Bitcoin price chart. Notice the similarities between 2015 and today. Pay special attention to the yellow circle. This one has a very similar setup.
What we believe is that institutional money is waiting to enter the crypto space. The new crypto bull market will be driven by institutional money combined with a new wave of innovation and adoption coming from security tokens combined with stablecoins.
This is where it gets interesting, because we just said that 2015 is the start of a new bull market. But 2015 was still a bear market, what most thought would mark the end of Bitcoin and cryptocurrencies?
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More importantly, it launched right at the bottom of the previous bear market, for example, the depth of crypto winter #1. Today, when we re-emerge from crypto winter #1. 2, as explained in Crypto Alert: Crypto Winter Is Over, we see the same thing happening.
Here’s proof that the same pattern is happening at the peak of crypto winter #2. When Bitcoin crashed in late 2019 and made the big bottom that could be the bottom, people posted the same kind of shit:
The lows can feel dire, and that feeling is reinforced by articles on social media and financial media. But in reality it is the opposite. It was like that in 2015, and it was like that in 2018.
One thing is clear from Bitcoin’s long-term chart: Crypto is NOT dead, crypto is alive and thriving. That’s what the historical Bitcoin price chart is telling us, and it’s getting better every day for Bitcoin to remain stable around the current price level (while sentiment worsens). We love this, so much!
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Bitcoin remains the cryptocurrency with the highest market capitalization. He may or may not remain number 1, we will have to find out.
Our conclusion is that Bitcoin is moving from a bear market to a new bull market. However, this basically means that the great Bitcoin and crypto bull market never dies, the bear market is tactical in nature!
As we can see on the long-term chart of Bitcoin, the bullish price could not keep the price above 6000 last year, but the bearish price also could not push the price below the 3k support area , which is under construction.
Therefore, we base our price outlook on the dominant long-term trend, which is a strong uptrend with a lot of volatility, a strong pullback, but still bullish.
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People ask us if it’s time to buy Bitcoin. Our view is very simple: if everyone is crazy to buy Bitcoin at the top and ignore sell warnings like this, then it would be unwise to ignore today’s opportunity at a much lower price. So yes, it’s good to add to your position for less than $6,000.
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Taki has more than 15 years of experience in the global market. The methodology is unique and effective, but easy to understand; based on chart analysis combined with intermarket / fundamental / sentiment analysis. His works have appeared in major financial sites such as FinancialSense, MarketWatch, … Email: taki.tsaklanos@gmail.com. Twitter: Data from twitter.com/On-chain shows that long-term holders have returned to accumulation mode after the recent turmoil cleared network congestion and drove out excess traders.
The crypto market sell-off on May 19 saw $1.2 trillion wiped from the total market cap as the bubble and over-leveraged overhyped market quickly dissipated.
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But like wildfires, whose destructive power is key to rejuvenating forest ecosystems, dramatic market shocks are an essential part of the full life cycle of emerging markets, as accumulated surpluses are burned and disposed of by start a new round of growth.
According to Glassnode data, last month saw a “historically large decline” in on-chain activity, “a rapid transition from an on-chain economy growing at ATH prices, to the almost complete elimination of mempools and weak demand for transactions and settlements.” .”
This decongestion helps deal with rising fee costs on the Ethereum (ETH) and Bitcoin (BTC) networks, which are now “back to mid-2020 levels of around $3.50 to $4.50” after experiencing short-term peaks as high as $60 in April and May. , however, as prolonged BTC and Ether price action, traders are also concerned about whether the market has gone from bullish to bearish.
The drop in activity led to a 65% drop in total USD-denominated transfers across the Bitcoin network and a 60% drop in value transferred to Ethereum, marking the second largest drop in the network behind the 80% fall of Bitcoin in 2017 and 95.% fall of Ethereum in 2018.
Analyzing Long Term, Short Term Bitcoin Holder Cost Bases
While activity on the chain paints a bleak picture for some, as short-term holders are the most affected by the recession, a closer look shows that long-term holders (LTH) have started to accumulate- again, a sign that the worst of the shaking may be over.
As can be seen in the chart above, the supply of BTC long-term holders started to increase after the distribution period that occurred when the price went from $10,000 to $64,000. These growing numbers indicate that “LTH supply is now in a strong upward trend” and is similar to the trend seen during the “late 2017 price spike and early 2018 decline.”
“This fractal describes the tipping point where LTH stopped spending, started hoarding again, and hoarding what are now considered cheap coins.”
A further improvement can be found in the fact that the amount of BTC held by LTH is currently 2.3 million more than at its peak in 2017, indicating that the long-term view of the holders of this token is that the market is increasing
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A final indication that the market may be consolidating in preparation for the next rally can be found in the changes in the liquid and illiquid supply of BTC over the past 6 months.
As can be seen in the chart above, 160,700 BTC returned from illiquid to liquid circulation in May, representing only 22% of the total supply that went from liquid to illiquid since March 2020.
This means that 78% of the BTC earned since then has not been spent, indicating a generally positive outlook for holders in the long term.
While it is impossible to determine the next movement of the cryptocurrency market due to factors such as volatile volatility, erratic tweets from influencers, and rumors of a sudden government crackdown, on-chain data points to a positive long-term outlook which will continue after that. . the period during which its shaking and consolidation subsided.
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The views and opinions expressed herein are solely those of the author and do not necessarily reflect the views of the author. Every investment and business step involves risk and you should do your own research when making a decision. Given the extensive bear market of 2018, the long-term Bitcoin trading strategy has proven to be a short-term trading game. However, this does not mean that the BTC/USD market is all FUD and no FOMO, as all the trading ideas I have gathered here point to the emergence of another market rally in late 2019.
Read on to see what cryptocurrency market predictions can tell us about last year’s cryptocurrency trends and see what to expect with Bitcoin in 2019.
Most cryptocurrency market predictions at the end of 2018 correctly indicate that Bitcoin will break the mid-$6,000 support line in early fall and begin a long-term downtrend.
As it turned out, Bitcoin remained above this support line until mid-November, falling 12% below $6,000 in the week of November 12 before hitting a monthly low of $3,800 , a difference of 40%. BTC continued to find support between $3,200 and $3,800, and held steady through the end of 2018, briefly peaking above $4,000 in the week of December 17.
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The September 2018 Crypto Trade Forecast states that a drop to $3,200 will lower BTC/USD in January. However, fundamentals appear to have changed this, causing the downtrend to accelerate and exit
