Bitcoin Falls Because of a 13th Century Mathematician

The price of Bitcoin, the largest cryptocurrency out there,  just fell to its lowest level since the start of the year. The previous major low of $5920, registered in early-February, has finally been breached. BTCUSD is currently hovering around $5850, which brings its total loss for the week to 9.3%. But why is Bitcoin crashing…

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Four Days Ahead of Bitcoin’s “Red Sunday”

Bitcoin is plunging yet again. Following a small recovery from $7027 to $7791 in the first week of the month, BTCUSD just breached the support of $7200 and still seems to be in a downward spiral from its December 2017 high of $19 666. But let’s ignore the bubble-or-not-a-bubble talk for a moment and concentrate…

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Bitcoin Crashes. Is the SEC to Blame?

This looks like another terrifying week Bitcoin investors will have to suffer through. The price of the biggest cryptocurrency has been in a tailspin in the last couple of days. After the bulls could not breach the resistance of $11 780 on Monday, a sharp selloff dragged BTCUSD to as low as $9 450 by…

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Bitcoin is Not a Bubble, Because… Oh, Really?

Bitcoin is everywhere you look these days. From bank officials, to hedge fund managers, to IT specialists, people with different professions, level of education, interests and investing experience are talking about Bitcoin. And who can blame them – the virtual currency is conquering milestone after milestone, climbing from $8000 to over $11 000 in just…

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Three Weeks Ahead of Bitcoin’s Terrifying Selloff

It was September 1st, when the price of Bitcoin was hovering around the $5000 mark. Today is September 15th and the markets once again proved that for the cryptocurrency, two weeks is a very long time. BTCUSD just fell to $3051 on BITSTAMP and even lower on some of the other exchanges, erasing roughly 40%…

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Bitcoin Traders Running for the Hills Already?

The last 30 days did not bring a lot of joy to cryptocurrency traders, to say the least. Bitcoin reached, and on some exchanges even exceeded the $3000 mark on June 12th, but instead of continuing to the north, it fell to as low as $2120 on June 15th. Nearly a month later, the biggest virtual currency is…

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Bitcoin Bubble: Is It “Different This Time”?

Our first bullish outlook on the biggest cryptocurrency, titled “Bitcoin Hiding an Ace in the Sleeve” was published less than a year ago, on August 1st, 2016, when BTCUSD was trading near $620. It has been a wild ride, but ten months later, the price on most exchanges is hovering around $2900 per Bitcoin. And…

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Bitcoin Traders Prepare for Another Correction

Bitcoin traders took the price of the virtual currency to a new all-time high of $1623 on the Bitstamp exchange yesterday. Soon after that it fell by nearly $180 to $1444, before recovering to $1609 again. The cryptocurrency’s violent swings no longer surprise anyone and with Elliott Wave analysis, their direction is not such a mystery, as…

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Divergence and How to Use It in Trading

If you have been following us regularly, you must have noticed how often we use the word “divergence” in our analyses, usually when expecting a trend reversal. A divergence occurs when the price reaches a new extreme, while the line of the indicator, which measures the force behind the price move, does not. It means that…

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Price of Bitcoin Short-Term Vulnerable

In our previous article about the cryptocurrency, titled “Bitcoin ETF Rejected by the SEC? No Problem!”, we expressed a bullish opinion, shortly after the price of bitcoin touched a low of $944. The positive outlook was motivated by the Elliott Wave interpretation of the 4-hour chart below. As visible, this chart made the classic 5-3…

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Bitcoin ETF Rejected by the SEC? No Problem!

Last Friday, March 10th, the SEC rejected a proposed change in its rules that would have allowed the Winklevoss brothers to create the first Bitcoin ETF. Following the decision, the price of the cryptocurrency fell over 20%, from nearly $1290 to as low as $975 in a matter of minutes. And while the speed and…

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Bitcoin Elliott Wave Outlook Ahead of the SEC

A month ago, on February 10th, we examined bitcoin’s tendency to extend the fifth waves of the impulse it draws. As of the time the article was published, the cryptocurrency was trading around $960, after a crash from $1075 to $914. But instead of selling with the other bears, the lessons learned from bitcoin’s manic-depressive past…

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4 Lessons From Bitcoin’s Manic-Depressive Past

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…

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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…

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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…

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