Bitcoin Bulls Stampede Bear Market Amid Major Dow Rally

Bitcoin surges 15 percent in 24 hours as the crypto bulls put the bears back in their place. The sudden rush of blood marks an end to a 3-month period of relative price stability for the OG crypto. Bitcoin’s Stable Streak Comes to a Positive End Bitcoin had enjoyed a stable period over the past few months, barely moving outside of a trading range between $3,800 – $4,200. That all changed today as BTC surged to $4,770. At press time, bitcoin is up over 15 percent according to Coinmarketcap. Bitcoin’s…

Is the Bear Trend Officially Over?

The bitcoin price recorded a massive surge from $4,200 to nearly $4,800 within minutes, demonstrating a 20 percent gain in a short time frame. Bitcoin surges 20% in a matter of minutes, fueled by a short squeeze (source: coinmarketcap.com) The $4,200 resistance level, which bitcoin has struggled to break out of for more than four months, was broken cleanly for the first time on early Tuesday morning, which led most technical indicators to turn and allow the dominant cryptocurrency to surge substantially. Is the Bitcoin Bear Trend Over? Earlier this…

Bitcoin Awaking from Bear Slumber, For the First Time Since 2017

For the first time since the bull market in 2017, the bitcoin price recorded two consecutive green monthly candles, which suggest that the dominant cryptocurrency may be en route to breaking its bear trend. In technical analysis, a green candle forms when an asset climbs higher from its opening price in a certain time frame. If a monthly candle closes as a green candle, it demonstrates a monthly upside price movement. Consecutive Monthly Green Candles are Positive For Bitcoin The February monthly candle of bitcoin opened at $3,434 and closed…

Crypto Bear Market Ended in Jan 2018, Says Analyst

On Friday, economist and global markets analyst Alex Krüger ‏said that the crypto bear market has been over for more than three months and if bitcoin breaks out of the $4,200 resistance level, it will mark the end of the 15-month bear trend. “The crypto bear market has been over for three months now. BTC breaking above 4200 will mark the end of the bear trend that started in January 2018. Going to miss this big fellow,” Krüger said. The bitcoin price has remained relatively stable in the $3,400 to…

Bitcoin Price Escaped Bear Market 3 Months Ago: Analyst

By CCN.com: After a long and bitter winter, the crypto thaw has arrived and bears have lost their grip on the market. One economist says the bears were sent packing into hibernation as many as three months ago from a technical standpoint, though you wouldn’t know it from March’s narrow bitcoin trading range. Alex Kruger: Bitcoin Has Vanquished Bear Market – That’s a Fact Believe it or not, with the bitcoin price hovering near $4,100, the bulls have finally wrestled back control. Investors failed to commemorate the occasion with a…

Bitcoin ‘Maturing’ Rapidly, so Why Can’t Crypto Slay Bear Market?

By CCN.com: Erik Voorhees, the founder and CEO of ShapeShift, a leading crypto conversion platform, has said crypto is maturing and that despite the price trend of bitcoin and other major crypto assets, the industry has seen growth in key areas in recent months. Crypto is maturing. It is now firmly in its adolescence. — Erik Voorhees (@ErikVoorhees) March 29, 2019 In the past 15 months, the valuation of the crypto market has plunged from $813 billion to $143 billion, by 82 percent, and exchanges have seen an overall decline…

What Crypto Bear Market? Japanese Banking Giant SBI Will Soon Mine Bitcoin

SBI Holdings, a major financial and banking giant in Japan, has formally announced the launch of SBI Mining Chip Co., Ltd., officially entering the bitcoin mining industry. In recent months, the most dominant forces in the global bitcoin mining industry in the likes of Bitmain, Cannan, and Japanese internet conglomerate GMO have struggled to adjust to market conditions. As the bitcoin bear market extended to a 15-month correction, despite the gradual increase in hash power, the demand for bitcoin mining due to the general decline in profitability of mining noticeably…

Bitcoin Miners Capitulated in Dec 2018 and it Could Signal the End of Bear Market

The biggest discussion point around Bitcoin currently, is whether or not the first-ever cryptocurrency has bottomed or not, and if the bear market will soon be ending or if a lot more pain is ahead for crypto investors. While many crypto traders and analysts are feverishly reviewing price charts and other important indicators searching for a sign, one particular analyst suggests looking at Bitcoin mining difficulty levels and potential capitulation by crypto miners as the signal the bear market has ended. Bear Market Grand Finale: Break of $6K Caused Miners…

Bitcoin Price Must Hit This Key Level to Exit Bear Market

In the wake of Sunday’s crypto massacre, shell-shocked investors have been left with dashed dreams and a lingering question: Will bitcoin’s bear market ever end? Crypto brokerage BitOoda says that the answer lies in two price levels: $4,200 and $6,000 – levels with which retail buyers need to become more acquainted. Bitcoin Price Facing Strong Resistance at $4,200 Writing in a note to clients on Monday, BitOoda Executive VP of Institutional Sales Brian Donovan said that the sell-off demonstrated that the ~$4,200 level had become a significant level of resistance…

Bitcoin Decline in February Will Mark Its Longest Bear Market

Bitcoin has come closer to establishing its longest-running bear market, alarmed Alex Kruger. The famous cryptocurrency trading analyst said Monday that it was the first time bitcoin had entered a long period of selling sentiment in its 10-year history. In December 2017, the value of bitcoin per piece was close to $20,000. As of January 31, 2018, it was close to $3,450. That marks a circa 82% drop in 13-months. Bitcoin has never before traded more than six months in the same direction. A down February would represent seven straight…