Jan 6, 2019
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How Long Is Bitcoin (BTC) Going To Trade Sideways?

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Bitcoin (BTC) does not have a long trading history unlike the S&P 500 or the Dow Jones Industrial Average. However, it is quite interesting that the ten years of data we have for BTC/USD sometimes offers more clues than the decades of data for other markets. Perhaps this is because markets today are moving at a significantly faster pace and things that used to happen in years and months are now happening in weeks and days. If we look at the ten years of trading data that we have for Bitcoin (BTC), we can see that we have only had one other bear market which was during 2014-15. When Bitcoin (BTC) entered a bear market in the beginning of 2018, it was not clear if it was really going to be a bear market.

A lot of analysts and investors picked up the trading data for Bitcoin (BTC) leading up to 2018 and they divided it into different segments. Based on that, they had different opinions as to what segment of the previous fractal is going to repeat this time. Very few people in this market actually believed that we are going to see Bitcoin (BTC) repeat the exact same pattern as in 2014-15. This is because we have not seen other major markets correct in this way except during a financial crisis. The future outlook for BTC/USD was very bullish and the US Dollar (USD) was in a tough spot which it still is today but back then investors believed Bitcoin (BTC) would be a good hedge against the upcoming crisis.


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CryptoDaily · News

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