A vital lesson to learn from Bitcoin’s short, but violent history Bitcoin crashed. Again. Yesterday, the cryptocurrency fell from as high as $1075 to below $914, bringing back the memories from the disastrous selloff we saw in the first days of 2017. It looks like each time Bitcoin rises significantly, a violent reversal follows. Obviously, the digital…
Bitcoin Climbing the Wall of Worry Again
The first few days of 2017 made the growing Bitcoin society very excited. The price of the digital currency exceeded the $1000 mark and even managed to climb to $1140 on January 4th. Unfortunately, the very next day reduced the bulls’ hopes to ashes, after Bitcoin plunged to as low as $885 in a matter…
Bitcoin Bulls Seem to Be Getting Tired
The last time we wrote about Bitcoin was on August 1st, 2016. The cryptocurrency was trading at $620 back then, after a decline from as high as $779 in June. Over four months ago, in the article titled “Bitcoin Hiding an Ace in the Sleeve?”, we shared our thoughts that “we should not be surprised…
Bitcoin Hiding an Ace in the Sleeve?
It has been a while since Bitcoin fell to 152 dollars in January, 2015. A year and a half later – in June, 2016 – it rose to 779 and reminded us of its best days in 2013, when it almost reached the 1200 dollar mark. BTCUSD currently stands slightly above 620 and now seems…
Bitcoin And Broken Dreams
Lots and lots of investors put their hopes in the virtual currency. 2014 was a very disappointing year for Bitcoin as the markets dragged prices down over 70%. The picture in the first month of 2015 does not differ much. 2015 began with a slump in prices of over 50%, bringing prices down to a fresh…
Understanding Bitcoin
Many Bitcoin fans like to say, that we – chartists – do not understand the crypto-currency and its behavior. There are Bitcoin lovers, still blinded by the past performance of the virtual currency, neglecting the change in trend. Ignorance is the cause why many investors took a hit, when Bitcoin topped in December 2013. Today we…
Has Bitcoin run its course?
Since the failure of Mt.Gox, the worlds biggest Bitcoin exchange, the product “virtual currency” has not been seeing any huge gains. Other exchanges like BTCE and BITFINEX also met a huge drop in prices around the 90 US dollars level. Prices remained stable only on the american Bitcoin exchange BITSTAMP, where they dropped only to…
Bitcoin making a comeback?
We are detecting a possible impulsive rally for Bitcoin, which started on 21st of February after falling more than 92% and bottoming at 95 dollars. Impulses show the direction of the trend. If this is truly an impulse, the new trend is up. If this is the correct count, it will mean that Bitcoin is…
We warned you about Bitcoin. Did you listen?
The first chart below was posted on our Facebook page on November 27th 2013. Bitcoin was at its record highs around 1100-1200 back then, but we were warning you that it is already in corrective mode and a steep decline has to be expected. In the days after, the virtual currency peaked higher twice, but…
Modern mania – Bitcoin
Mania defines as excitement of psychotic proportions manifested by mental and physical hyperactivity and elevation of mood. This behavior leads to extended fifth waves. They are usually retraced a 100%. Here is a textbook example of an extended fifth wave: Extended fifth waves are usually a result of greed or fear from hunger, drought. These…
