Hello my fellow cryptomaniacs. The education chart says it all and should be easy to follow.
People ask when is it the best time to "invest" in bitcoin . Not speculate. Buy when BTC moves above it's 200 DMA. Currently it's standing around $5.9k.
Since 2012 whenever BTC has moved above it's 200 DMA it sustains a 2 year bull run achieving higher highs than the previous bull wave. Whenever it falls below it's 200 DMA we have seen that it sustains a 1.5 year bear market.
The 2018 bear market I didn't begin until March because this is when we fell below the 200 DMA for the first time. That is why I think we've only been in this bear scenario for 10 months. Do we really have much further to go? Maybe, maybe not.
Many speculate it will not take long to recover because market conditions are different now. More companies are invested in crypto's. Many more are innovating current projects. So much more awareness from the general public. The technology has spread too far and once we get a market catalyst the recovery will be quick. I do tend to agree and fall in this camp. I don't anticipate that it will be another year of bear market scenario. Leading companies ---> Galaxy Digital, Circle (Goldman Sachs), Coinbase, NasDaq, Baakt, Consensys, Fidelity, CME , CBOE (and so many more in Europe and Singapore) --> Countries --->Japan, Switzerland, USA, UK, Singapore, Russia (and many others)....The virus has spread folks.
For those investor types buy the pullback after BTC breaks above the 200 DMA. You want confirmation that this is the new support for 2019.
It's looking more and more like the bottom is in at 3.1k. It's so similar to 2014. I love how the bears are making the mistake thinking we still have another 50% drop to go :)
Cheers,
Bobby
People ask when is it the best time to "invest" in bitcoin . Not speculate. Buy when BTC moves above it's 200 DMA. Currently it's standing around $5.9k.
Since 2012 whenever BTC has moved above it's 200 DMA it sustains a 2 year bull run achieving higher highs than the previous bull wave. Whenever it falls below it's 200 DMA we have seen that it sustains a 1.5 year bear market.
The 2018 bear market I didn't begin until March because this is when we fell below the 200 DMA for the first time. That is why I think we've only been in this bear scenario for 10 months. Do we really have much further to go? Maybe, maybe not.
Many speculate it will not take long to recover because market conditions are different now. More companies are invested in crypto's. Many more are innovating current projects. So much more awareness from the general public. The technology has spread too far and once we get a market catalyst the recovery will be quick. I do tend to agree and fall in this camp. I don't anticipate that it will be another year of bear market scenario. Leading companies ---> Galaxy Digital, Circle (Goldman Sachs), Coinbase, NasDaq, Baakt, Consensys, Fidelity, CME , CBOE (and so many more in Europe and Singapore) --> Countries --->Japan, Switzerland, USA, UK, Singapore, Russia (and many others)....The virus has spread folks.
For those investor types buy the pullback after BTC breaks above the 200 DMA. You want confirmation that this is the new support for 2019.
It's looking more and more like the bottom is in at 3.1k. It's so similar to 2014. I love how the bears are making the mistake thinking we still have another 50% drop to go :)
Cheers,
Bobby