Last year, Bitcoin whales relying on technical analysis added a new weapon to their trading arsenal. This weapon is a chart pattern, known on social media as simply Bart.
It all started after the big boom of 2017 when Bitcoin showed its first signs of weakness. The price collapsed and so did the liquidity on all cryptocurrency exchanges. The bull market was over.
As a result, whales and exchanges alike had to come up with a different way to make money and survive. What followed next can be seen clearly on the Bitcoin (BTC) price chart.
At first glance, it looks like a regular pump-and-dump scheme — and, to some degree, it is exactly that. Cryptocurrency critics gave the pattern a catchy name, turning it into a meme on all social media: Bart.
https://www.google.com/imgres?imgurl=https%3A%2F%2F3xz7gj47vd1t2zgr1q19hmwl-wpengine.netdna-ssl.com%2Fwp-content%2Fuploads%2F2019%2F01%2Ftradingview_btcusd_chart_bart_pattern.png&imgrefurl=https%3A%2F%2Fbeincrypto.com%2Fwhat-causes-the-infamous-bitcoin-bart-pattern%2F&docid=H16J2xAi_cR6YM&tbnid=Pwq7eMiZXDcR3M%3A&vet=10ahUKEwjZs_znqtTjAhVFfysKHedqB_UQMwhIKAUwBQ..i&w=1140&h=475&bih=597&biw=1242&q=bart%20pattern%20trading&ved=0ahUKEwjZs_znqtTjAhVFfysKHedqB_UQMwhIKAUwBQ&iact=mrc&uact=8
It all started after the big boom of 2017 when Bitcoin showed its first signs of weakness. The price collapsed and so did the liquidity on all cryptocurrency exchanges. The bull market was over.
As a result, whales and exchanges alike had to come up with a different way to make money and survive. What followed next can be seen clearly on the Bitcoin (BTC) price chart.
At first glance, it looks like a regular pump-and-dump scheme — and, to some degree, it is exactly that. Cryptocurrency critics gave the pattern a catchy name, turning it into a meme on all social media: Bart.
https://www.google.com/imgres?imgurl=https%3A%2F%2F3xz7gj47vd1t2zgr1q19hmwl-wpengine.netdna-ssl.com%2Fwp-content%2Fuploads%2F2019%2F01%2Ftradingview_btcusd_chart_bart_pattern.png&imgrefurl=https%3A%2F%2Fbeincrypto.com%2Fwhat-causes-the-infamous-bitcoin-bart-pattern%2F&docid=H16J2xAi_cR6YM&tbnid=Pwq7eMiZXDcR3M%3A&vet=10ahUKEwjZs_znqtTjAhVFfysKHedqB_UQMwhIKAUwBQ..i&w=1140&h=475&bih=597&biw=1242&q=bart%20pattern%20trading&ved=0ahUKEwjZs_znqtTjAhVFfysKHedqB_UQMwhIKAUwBQ&iact=mrc&uact=8