#Bitcoin Price Analysis Cryptocurrency Market Facing huge losses. Is it the right time to invest? Published 10 months ago on August 9, 2018 By Coinnounce - Coin Announcements Share Tweet Understanding the reasons for the Bitcoin downfall and deciphering the suitability of the investment. Introduction Investing in the cryptocurrency market is not any less than, gambling on a higher scale, just that the process is completely online and real-time in nature. It never closes as the cryptocurrency market runs 24/7 throughout the year which makes it highly suitable for the day traders to analyze the investors to track the cryptocurrencies in order to make some profits from them. Trading with cryptocurrencies is an art which can be mastered with consistent practice. It is observed that many of them become millionaires by investing in the cryptocurrencies while on the other hand it is also observed that many enthusiasts have lost their previous savings by investing in the crypto. Therefore it is highly speculative and the newcomers are advised to make an extensive research about the cryptocurrency they are opting to invest in it. The Loop Is observed carefully the cryptocurrencies undergo a constant cycle. It is observed that initially, Bitcoin leads the bullish market which is followed by the top altcoins which are in turn followed by the other lesser prominent Altcoins. Then huge corrections begin and a new floor price is set for Bitcoin and all the other altcoins as well, then there is no activity in the Crypto space for months together, until and unless another new big cryptocurrency hike is observed. Then the whole process repeats itself. How are stock markets better than cryptocurrencies? It is estimated that investing in the cryptocurrencies during the market fall, is the best time, as the currencies would regain the Bullish Trend. But there is a lot of difference in investing in a stock market and cryptocurrency because in stock markets the prices not only depend on the market forces of demand and supply but also the successful adoption of their product or service but in case of crypto market solely depend on the demand and supply. As the cryptocurrencies are not backed by any financial asset it is recommended on generalized terms to stay away from it. The actual reason for the market downfall On 8th August, the prices steeply fell and the precise reason is pointed towards the decision taken by SEC to postpone the decision regarding implementation of the Bitcoin ETF. The prices experienced almost a 6% fall within a span of 24 hours itself to attend $6300. The proposal to the SEC was the third one put forth by the investment firm, VanEck where they had rejects it’s proposals twice, before. This time they willing to consider the issue and hence probably are taking some time to decide on the matter. In simpler words, they are making sure that this would have any adverse side effects on this highly volatile crypto market. Price specifications The Bitcoin prices have fallen from an intraday of $7600 to almost $6700 approximately. However, this 6% downfall is nothing when compared to a 30 % downfall which the cryptocurrency market had experienced in April 2017, when Cameron and Tyler Winklevoss had proposed for the Bitcoin ETFs and it was rejected by the SEC. In a nutshell, this decision has even worsened the market conditions. Is a good time to invest? It is always observed that, after a downfall, the cryptocurrency market mostly experiences a correction and regains stability. The trend can also be applied here and hence this can be a great opportunity for the public as well as institutional investors to invest in Bitcoin and other Altcoins, as they are expected to experience a recovery and increase its value. It is not very unnatural in nature that something takes a few steps back in order to experience a giant leap and thus even holds good for the cryptocurrency space. Disclaimer Although it is a great opportunity to invest in cryptocurrencies, the fact that constantly needs to be reminded of is that the cryptocurrency market is highly volatile and subject to the market conditions. An investor compulsorily needs to do an extensive background check on the project prior to investing in it. Otherwise, hasty decisions would lead to tons of losses, which is absolutely not viable in this generation which moves on the competitive edge of the technology. An investor should be able to stake the amount which he or she is OK to lose, otherwise, cryptocurrencies is not a suitable place for them. 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Continue Reading Advertisement You may like Circle Fires 30 Employees due to Regularity and Market Conditions NYAG Case: Bitfinex and Tether Argue for Case Dismissal Craig Wright registers Copyright for Satoshi Whitepaper: BSV Surges 85% The Current Bitcoin Market Scenario: Price Manipulation by Whales ETH to USD, 21 May: Ethereum Price Analysis, What’s Next? ETH Updates: Ethereum 2.0, Louis Vuitton, Chainlink and Price Analysis 5 Comments 5 Comments Pingback: Cryptocurrency Market Facing huge losses. Is it the right time to invest? – Btc News Magazine Pingback: Cryptocurrency Market Facing huge losses. Is it the right time to invest? - Satoshiuncle Pingback: Cryptocurrency Market Facing huge losses. Is it the right time to invest? – The Coinage Times Pingback: What is the Holochain? Holo Token Explained. - Wiredfocus Pingback: John Mcafee: Trust only Decentralized Exchanges – Coinance: Bitcoin, Ethereum, Blockchain & Cryptocurrency News Leave a Reply Cancel reply Your e-mail address will not be published. Required fields are marked *Comment Name * Email * Website #Bitcoin Price Analysis BTC to USD, 19th May: Bitcoin Price Analysis, $6000 or $9000? Published 4 days ago on May 19, 2019 By Layla Harding Technical Indicators: Support Levels: $7500, $7000, $6600 Resistance Levels: $8000, $8200, $8300, $8500 Key Points: Bitcoin price started to recover massively after moving above $6800 level. The bulls pushed the price back above $7000 and even $7500 resistance level. Bitcoin price was also able to break above the bearish pattern line which was being formed on the hourly chart with resistance around $7300. Currently, BTC seems to be eyeing towards $8000 resistance level. Bitcoin Price Analysis: SUMMARY: Bitcoin price started to recover massively after crashing down to around $6600 level. BTC is currently trading in a positive momentum and might soon test $8000 resistance level to move towards $8500 and even $9000 levels if it remains above $7200 and $7000 support levels. Bitcoin price gained bullish momentum last week and broke above $7000 resistance level. The buyers were also able to push the price above $7200, $7500 and $7800 resistance level. BTC even moved over the $8000 level to record a new yearly high at around 8360. However, bitcoin price started to correct downwards later on and fell below $8000 level. The selling pressure increased massively and BTC also broke below $7000 support level which turned the overall momentum into negative. However, Bitcoin price found decent support around $6650 level where buyers were able to stop further losses. Bitcoin price soon started to recover back upwards and broke above the resistance formed around $7000. BTC was also able to break through $7200 resistance level as well as the bearish pattern line that was being formed on the hourly chart with resistance around $7300. Bitcoin price also moved above $7500 resistance level and is currently trading well above this range. With BTC currently trading around $7800, the overall momentum seems positive and Bitcoin price might soon test the $8000 resistance zone above which it might test the $8200, $8300 and $8500 levels. However, if bitcoin price started to correct downwards again, it is very essential for BTC to maintain its position above $7000 to remain bullish. If BTC falls below $7000 and $6600 support level, it might turn towards $6000 and even $5500 level in the short term. BTC to USD Price Chart 19th May The chart shows that bitcoin price was able to recover nicely after falling towards $6650 level. The overall momentum seems bullish and BTC might test $8000 level to move towards $8200, $8300 and $8500 resistance levels. On the downside, BTC is currently supported at $7500, $7000 and $6600 level below which the momentum might turn bearish. Continue Reading #Bitcoin Price Analysis BTC to USD, 15th May: Bitcoin Price Analysis, $8500 or $7000? Published 1 week ago on May 15, 2019 By Layla Harding Technical Indicators: Support Level: $7600, $7500, $7200 Resistance Level: $8100, $8350 Key Points: Bitcoin price started to correct downwards sharply after rising up to around $8350. The sellers pushed the price below $8000 and BTC tested the $7600 support level. A bearish pattern is being formed on the hourly chart with resistance around $8100 which might push the price back downwards. Bitcoin price might test the $7600, $7500 and even $7200 support levels before it starts a fresh upside move. Bitcoin Price Analysis: SUMMARY: Bitcoin price started to correct downwards and fell below $8000. BTC is currently supported at $7600 and $7500 and might soon test the $8100 and $8350 resistance levels again. Bitcoin price broke above the $8000 resistance level yesterday with bullish momentum. The buyers even pushed the price above $8100 and $8300 resistance levels, however, there were a lot of sellers placed around $8350 resistance level and thus after reaching up to $8340, bitcoin price started to correct downwards. During the downward correction, BTC delined below $8200 and $8000 support levels. As the price declined below $8000, the selling pressure increased and the bitcoin price was pushed back to the $7600 support level. BTC reached up to $7631 before the buyers were able to control the situation and stop further losses. Currently, Bitcoin is trading well above $8000 and trying to move towards $8100 level. Also, there is a bearish pattern being formed on the hourly chart with the resistance at $8100 which might push the price back downwards. Thus, it is very essential for bitcoin price to break above this level in the short term to stay bullish. The current resistance lies around $8100 above which BTC might test the $8350 resistance level again. A close above this range would take bitcoin to the $8500 and $8700 levels. However, if BTC falls below the $7600 support level, it might fall back towards $7200 and even $7000 level below which the momentum might turn bearish. BTC to USD Price Chart 15th May The chart shows that the bitcoin price is currently trading above $8000 and trying move towards $8100 level. Most likely, bitcoin price might fall down towards the $7600 support level again before starting a fresh upward move. As long as bitcoin remains above $7600 level, it will stay in an uptrend and might soon test $8350 and $8500 resistance levels. Continue Reading #Bitcoin Price Analysis BTC to USD, 14th May: Bitcoin Price Analysis, Actually Bullish? Published 1 week ago on May 14, 2019 By Ruchi Ramaswamy Technical Indicators: Support Level: $7950, $7500, $6800 Resistance Level: $8000-8050, $8150, $8300 Key Points: Bitcoin price surged massively and broke above $8000 resistance level in order to record around 13% gain in the last 24 hours. A new yearly high for BTC price was recorded around $8180. A bearish pattern line is currently being formed on the hourly chart with the resistance between $8000 and $8050 which might push the price downwards. If Bitcoin price breaks above $8100 level in the short term, it might soon test $8500 level. Bitcoin Price Analysis: SUMMARY: Bitcoin price surged with bullish force and moved over $8000 resistance level. BTC is currently in a very positive zone and targeting the next resistance levels. After Bitcoin broke above the $6800 and $7500 resistance levels, the bulls took full control and after correcting downwards to around $7000, bitcoin surged upwards massively breaking through $7200 and $7500 resistance levels quite easily. Also, BTC traded and settled well above the 100 hourly SMA. The bulls were also able to push the price above the $8000 resistance level and Bitcoin price even closed well above this level before correcting downwards. The sellers around this level pushed the price downwards below $7800 support level. BTC tested the $7600 support level where the buyers appeared and stopped further losses. BTC is now back over the $7900 level moving towards $8000-8050 resistance level. However, there is a bearish pattern being formed with resistance around this level on the hourly chart which might push the price back downwards. If BTC is able to break above this range, there are chances that it might test the $8150 and $8300 resistance levels. BTC to USD Price Chart 14th May The chart shows that the bitcoin price is currently trading with bullish momentum. If BTC corrects downwards again, it is supported at $7950, $7500 and $6800 levels. On the upside, a break above $8050 resistance level might result in bitcoin testing $8300 and $8500 levels in the short term. 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