Bitcoin ‘s 40% Surge didn’t Come Out of Nowhere

On Thursday, we showed you how Elliott Wave analysis set the stage for a Bitcoin plunge to under $7700 ten days before Mark Zuckerberg’s Libra testimony. The cryptocurrency was barely holding above $7400 at the time of writing and many thought it was prone to decline even further. Since Bitcoin is among our premium instruments,…

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BTCUSD: Libra Testimony Didn’t Cause the Fall

Facebook’s Mark Zuckerberg testified before Congress on October 23rd about the company’s Libra cryptocurrency project. The hearing didn’t go as smooth as the crypto community hoped, which reflected on the price of digital assets such as Bitcoin. At one point on Wednesday, BTCUSD was down by over $750 for the day. But was Zuckerberg’s Libra…

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Staying Two Weeks Ahead of Bitcoin ‘s Crash to $8000

The price of Bitcoin has been slowly losing ground since late-June when it touched $13 880. The bulls have been relying on the support near $9000 for over two months. They no longer have that luxury. BTCUSD was still gravitating around $10 000 on September 23rd. The next day, it plunged to $7998. While the…

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Bitcoin Fulfills Yesterday’s Bearish Elliott Wave Setup

The price of Bitcoin plunged sharply on Wednesday and keeps falling early Thursday. BTCUSD reached an intraday high of $10 280, before crashing to as low as $9555 yesterday. Today, the bears are still in charge and managed to drag the price to $9320 so far. To sum it up, Bitcoin lost almost $1000 per…

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How Bitcoin Almost Collapsed Last Month

The price of Bitcoin returned above the $12 000 mark two days ago. As of this writing, the biggest cryptocurrency is still trading in the vicinity of $12k and the larger uptrend appears to be still in progress. Less than two weeks ago, things were not looking so rosy. BTCUSD was hovering around $9500 in…

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Bitcoin Proves Traders Can Prepare without “Knowing”

The price of Bitcoin slightly breached the psychological level of $3500 yesterday and still has not been able to escape its gravity as of this writing. The current selloff brought back the memories of the time when BTCUSD fell to $3122 a month ago. And while in the markets everyone is an expert in retrospect,…

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Here is Why BTCUSD is Down 40% in Less than a Month

The price of Bitcoin is declining at an unprecedented speed. Less than a month ago, BTCUSD was hovering above $5500. Last week it fell to as low as $3210, prompting Peter Mallouk, chief investment officer at Creative Planning Inc., to call Bitcoin a “dead man walking”. However, the truth is it didn’t take a professional money manager…

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Bitcoin Was Going “to the Moon”… And Then It Wasn’t

What a difference a year can make. This time last year Bitcoin was thought to be going “to the moon” by a great majority of people. BTCUSD was approaching the $20 000 mark at the time and financial gurus, hedge fund managers, celebrities and small individual investors alike were rushing to join the bulls. Many…

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Elliott Wave Ahead of Bitcoin ‘s Goldman-Inspired Crash

Bitcoin was trading above $7400 on Wednesday morning, following a recovery from as low as $5880. Crypto investors hoped the rally will continue, but they could not predict that just a few hours later Goldman Sachs will say it is abandoning its plans to establish a cryptocurrency trading desk, citing the ambiguous regulatory environment as…

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Bitcoin and BitMEX Trading Halt in Elliott Wave Context

Bitcoin shot up by over $400 in as little as 20 minutes today in a move some crypto experts attributed to a short squeeze during BitMEX’s scheduled maintenance. Unfortunately, BitMEX’s trading halt can explain the surge only in hindsight, which means even crypto experts did not expect it. For example, Don Le, CEO of ChainRock…

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Another Week, Another Bitcoin Bloodbath

Another week, another bloodbath for Bitcoin. The largest cryptocurrency climbed to $6815 on Monday, but the bulls quickly lost control and suffered a sharp plunge to $6072 four days later on Thursday. And while bullish predictions by crypto “experts” still call for $60 000 by the end of the year or $280 000 by 2023,…

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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: UpBit Fraud Scandal Just a Catalyst

After the price of Bitcoin rose twenty-fold in 2017, the majority of crypto investors were expecting even bigger gains in 2018 as the digital currency was finally entering the mainstream. Alas, so far that is not the case as BTCUSD plunged by roughly 70% in just a month and a half. But instead of going…

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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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