Nov 01, · Bitcoin’s October spike pushed the cryptocurrency above two important technical levels that I discussed in August ($11, and $12,), which is a sign of strength. The next most important Author: Jesse Colombo. Sep 09, · S ince , Bitcoin had spiked a total of seven times. Spiking up ranging from 5X to X; whereas spiking down above 90% for two out of the three bear runs. Is this trend sufficient knowledge for us to predict the next spike? Let’s take a deep dive to unravel the prophesy. Nov 18, · Bitcoin and the entire crypto market saw some immense volatility yesterday that came about after the benchmark crypto saw a sudden surge up to highs of $18, The selling pressure that existed at this price level was so intense that it sparked a $1, selloff that sent the crypto to .
Bitcoin next spikeThe Odds Bitcoin Sees an Exponential Spike Are "Rapidly Increasing": Here's Why
As airlines, restaurants, and a myriad of other industries have sunk, technology companies have emerged as decisive winners. A perfect case in point to this is Amazon, whose stock has just established a new all-time high amid what the International Monetary Fund considers to be the worst economic downturn since the Great Depression. Below is a chart depicting this performance. The outperformance of digital businesses amid the crisis, Kelvin Koh wrote in a recent Twitter thread , is a factor that is only going to improve the prospects of Bitcoin and crypto-based technologies moving forward.
This is only one such trend catalyzed by the coronavirus crisis that will benefit Bitcoin, according to the investor. To respond to the underperformance of most industries like airlines and agriculture, governments have been forced to inject trillions of dollars worth of stimulus into the economy.
The trends of global digitization and the debasement of fiat money are longer-term narratives for Bitcoin, to be sure, but Koh made it clear that investors need to keep their heads on a swivel.
Concluding his thread, the former institutional investor warned that once the crypto market starts to move, it will move quickly. This relates to the concept of reflexivity in financial markets, which states that markets naturally trend in one direction or the other due to investor psychology. When crypto prices move, they move quickly. I am a writer who has been following Bitcoin for years now. My insights and interviews have been featured in leading publications in the industry such as LongHash and Decrypt.
I own a small amount of Bitcoin. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies. We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.
All Rights Reserved. Advertise Submit a Press Release. Home Cryptocurrency news Bitcoin. Reading Time: 3min read. Reloads and free spins available every day, for every player, in mBitcasino Crypto Autumn Bonanza! Play Now! It then faced a sharp move lower that likely came about due to an abundance of late long positions.
Could you be next big winner? I consent to my submitted data being collected and stored. Bitcoin saw some wild overnight volatility that came about after a flurry of selling activity liquidated long positions and sent its price reeling lower This selloff was quite intense All Rights Reserved.