Could Bitcoin (BTC) Follow Gold’s Long-Term Chart?

Bitcoin Could Very Well Have Bottomed A Twitter user going by “CabSav” recently drew attention to something he noticed in regards to gold’s long-term chart and Bitcoin (BTC)’s ongoing market cycle. In the chart seen below, which compares the two commodities over the aforementioned time frames, it becomes immediately apparent that they look somewhat similar. In gold’s case, it spiked in the late 1970s, amid global turmoil and President Nixon’s decision to pull the U.S. dollar from the Gold Standard, reaching a peak during that time, before falling for years…

Could Bitcoin (BTC) Follow Gold’s Long-Term Chart?

Bitcoin Could Very Well Have Bottomed A Twitter user going by “CabSav” recently drew attention to something he noticed in regards to gold’s long-term chart and Bitcoin (BTC)’s ongoing market cycle. In the chart seen below, which compares the two commodities over the aforementioned time frames, it becomes immediately apparent that they look somewhat similar. In gold’s case, it spiked in the late 1970s, amid global turmoil and President Nixon’s decision to pull the U.S. dollar from the Gold Standard, reaching a peak during that time, before falling for years…

Long-Term Bitcoin Price Indicator Turns Bearish, Suggesting Bottom May Be In

A lagging indicator has turned bearish for the first time in four years, suggesting bitcoin’s price may have bottomed out and that a new bull run could begin this year. As of press time, bitcoin’s 50-week moving average has dropped below the 100-week MA, confirming a bearish crossover – the first since April 2015. Long-term bearish crossovers, however, tend to occur at the end of a big bear move, with prices rallying soon after, as MAs are based on past data. For instance, the 50-week MA responds to price action…

Long-Term Indicator Suggests Bitcoin Price May Be Nearing Bottom

View Bitcoin’s weekly MACD has diverged in favor of the bulls. The indicator carved out a higher low in December, even though bitcoin’s price slipped to $3,100, signaling waning bearish pressures 17 months before the mining reward halving. Bitcoin witnessed a similar MACD divergence 17 months before the previous halving in September 2016. The bullish MACD divergence indicates the cryptocurrency could be nearing a long-term bottom or may have carved out one near $3,100 in December. That said, a move above the 21-month exponential moving average (EMA), currently at $5,334,…

Long-Term Bitcoin Bull: Likely That Crypto Market Hasn’t Bottomed Yet

Crypto Market Bottom Likely Isn’t In As Bitcoin (BTC) has found itself in the midst of a lull, as it’s held the $3,400 level over the past days and weeks, some optimistic cryptocurrency traders have claimed that the bottom is clearly in. Yet, two leading industry commentators recently sought to somewhat dispell these thought processes, as they fear that lower lows are a possibility, if not inbound. Speaking to CoinTelegraph’s Youtube outlet in a recent interview, Mati Greenspan, eToro’s in-house crypto researcher with an unbridled passion for this budding asset…

Long-Term Bitcoin Bull: Likely That Crypto Market Hasn’t Bottomed Yet

Crypto Market Bottom Likely Isn’t In As Bitcoin (BTC) has found itself in the midst of a lull, as it’s held the $3,400 level over the past days and weeks, some optimistic cryptocurrency traders have claimed that the bottom is clearly in. Yet, two leading industry commentators recently sought to somewhat dispell these thought processes, as they fear that lower lows are a possibility, if not inbound. Speaking to CoinTelegraph’s Youtube outlet in a recent interview, Mati Greenspan, eToro’s in-house crypto researcher with an unbridled passion for this budding asset…

Why Many Believe Fed Rate and Dow Jones Rebound Could Fuel Bitcoin in Long-Term

Just like common Joes and Jills, politicians, economists, and bigwigs in the upper echelons of society are subject to whims. This was only accentuated on Wednesday, as the world’s most powerful economic body revealed that it would be taking a step in a new direction, pushing gold and stocks much higher. Bitcoin remained unchanged, but many believe that this decision could be a positive catalyst for the crypto asset in the years to come. Fed Puts Rate Hike On The Backburner, Gold & Stocks Surge During early-October, the U.S. stock…

Down Again: Bitcoin Is Closing on Key Long-Term Price Support

View Bitcoin is again closing on the 200-week moving average, which served as strong support in December. The weekly RSI is more bearish this time round, though, and is reporting undersold conditions. A weekly close below that level could be followed by a slide back to September 2017 lows near $2,970. A failure to push prices below the 200-week SMA support would weaken the bears. A bullish reversal, however, would be confirmed only above $3,658 – the high of gravestone doji carved out Saturday. Bitcoin (BTC) is on the defensive…

Bitmain Exits Amsterdam Citing Focus on Long-Term Scalable Business Strategy

Cryptocurrency mining giant Bitmain Technologies has opted to reduce its operations in the Netherlands, the company said in a statement on Jan. 14. Bitmain, which in November announced the first in what has become a series of cost-saving measures by shutting down a blockchain development center in Israel, said the move was part of its longer-term roadmap. The company has reportedly suffered as a result of decreased profitability of Bitcoin mining in recent months, with Bitcoin (BTC) currently circling $3,600. “As we build a long-term, sustainable and scalable business, we…

Teen Bitcoin Millionaire Erik Finman Proclaims Bitcoin Is ‘Dead’ Long-Term

Teen crypto star Erik Finman has said Bitcoin (BTC) “may have a bull market or two left in it,” but that “long-term, it’s dead,” in an interview with financial news site MarketWatch on Dec. 17. Finman is famous for his precocious investment in Bitcoin back in 2011, when he reportedly bought in — at the age of twelve — at $12 a coin. The high-schooler’s $1,000 gift from his grandmother thus became over $4 million during the cryptocurrency’s 2017 all-time-price-highs. Finman sealed further fame by notoriously winning a bet with…