Crypto Analyst Releases Stock-to-Flow Model Indicator for BTC Bull Run

23m
cryptonewmedia

Bitcoin Closes May Candle Above Crucial Resistance, and That’s Big for the Bull Case

1h
bitcoinist

UK Government Seizes $185 Million From Dormant Bank Accounts for Crisis Relief

1h
thebitcoinnews

There Isn’t Anything Crypto Altcoins Do That Bitcoin Won’t…

1h
cryptonewmedia

Bitcoin Closing the May Candle Above $9,360 is Crucial For Bulls:…

1h
cryptonewmedia

The Emergence of Crypto Prime Brokers Adds Resilience but Also Risk

1h
cryptonewmedia

Ethereum Makes 3rd Attempt at New Highs as Options Skew Turns Negative

1h
cryptonewmedia

BTC/USD to Move Back Above 9764? Sally Ho's Technical Analysis 1 June 2020 BTC

2h
cryptodaily

Ethereum DeFi Nears $1 Billion Milestone Again, and That’s Big…

2h
cryptonewmedia

Ethereum developer Danny Ryan speaks on ETH 2.0 progress, gives insights on new features

3h
cryptoslate

Euro is still on track of collapsing, says macro analyst: Here’s how Bitcoin could react

3h
cryptoslate

Coinbase’s earliest investor starts accumulating Ethereum “again,” joining whales

3h
cryptoslate

Bitcoin Closing the May Candle Above $9,360 is Crucial For Bulls: Here’s Why

3h
newsbtc

Meghan Markle & Prince Harry Are Nothing More Than Professional Freeloaders!

3h
cryptonewmedia

Tesla Needs Democrats to Break Up Big Tech or Amazon Will Eat Its…

3h
cryptonewmedia

Meghan Markle & Prince Harry Are Nothing More Than Professional…

4h
cryptonewmedia

Trading Bitcoin Vs. BTC Futures — Which Is Best for You?

4h
cryptonewmedia

Ethereum DeFi Nears $1 Billion Milestone Again, and That’s Big for the ETH Bull Case

4h
newsbtc

Max Keiser: There Isn’t Anything Crypto Altcoins Do That Bitcoin Won’t Do

4h
bitcoinist

Bitcoin Could Surge Past $10,000 as Ethereum “Hammers”…

4h
cryptonewmedia

Jake Paul Loots the Entire BLM Movement Then Issues an Entitled Apology

4h
cryptonewmedia

US Stock Markets ‘Addicted’ to Stimulus from Fed

4h
beincrypto

Goldman Scandal, BTC Bull Trap Fears, How Libra Will Make Money: Hodler’s Digest, May 25–31

5h
cryptonewmedia

Sony’s PS5 may Have a Very Steep Price tag at Launch

5h
nulltx

Key Indicator: Bitcoin and Other Top Cryptos Are Printing…

5h
cryptonewmedia


A New All-Time High For Bitcoin May Take Another 300 Days – Yoni Assia

zycrypto

8mon ago

It has been an interesting year for Bitcoin with the top cryptocurrency amassing over 200% gain in price. This has led many to believe that another bull market is here following the crash from 2017’s all-time high of $20,000. Many also believe that Bitcoin is about to hit a new all-time high, possibly in 2019.

However, the Founder and CEO of social trading platform eToro, Yoni Assia, says Bitcoin may take at least another 300 days to hit a price above the current all-time high of $20,000.

There have been two bear markets for Bitcoin so far, the third of which started in 2018 and was believed to have ended in 2019 with the huge bullish move recorded. One glaring pattern in the data, although for just two bear markets, is that Bitcoin bear markets seem to be longer than the last one. For instance, the 2011 to 2013 bear market lasted nearly 600 days, followed by the 2013 to 2017 bear market which lasted over 1000 days.

The bear markets also show significant price losses, with the first crashing to over 90% and the second crashing by over 80%. Bitcoin has already met this condition by losing over 80% of its price in the 2018 bear market. This is fine, despite the fact that it lost more than 90% in the first bear market since the pattern also suggests that the extent of the crash reduces with successive bear markets. However, there is one condition that has not been met.

Although Bitcoin has made significant recovery from the 2018 bear market, the data suggests it is yet to mature as it has only reached 600 days which it took to recover from the first bear market. The price surge occurred just after 500 days but the price has dipped slightly, probably because the condition has not been met.

Going by the trend, Bitcoin may have to consolidate or even crash further for another 300 days according to Assia as it has to last longer, or at least as long as the last bear market.

If this data is anything to go by, a major Bitcoin bull run may be some distance from now. Major events expected to boost the market such as Bakkt are coming into place and the halving is coming next year. Does it mean Bitcoin will defy all these factors and continue to move sideways?

Get Daily Crypto News On Facebook | Twitter | Telegram | Instagram

Regarding any copyrights issue, please contact us:content@hashbee.com.

0 comments