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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Litecoin Lost 50% in Two Months. Is the Pain Over?

Litecoin, the fifth largest cryptocurrency, lost more than half of its market value in the past two months. Between June 22nd and August 21st, LTCUSD fell from $146 to $70. Since crypto assets have no intrinsic value, investors often compare the current price to its higher level some time ago. This leads them to the…

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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 Selloff Crushes Bulls’ Faith in $6k Support

The last several months have been unusually quiet for the price of Bitcoin. The largest cryptocurrency first touched the support area near $6000 in February and has been testing it multiple times since. This support looked so strong for so long that traders and investors started believing BTCUSD was getting ready for the next major…

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Ahead of Facebook’s Crypto-Ban and Bitcoin’s Plunge

The hottest investment of 2017 has been the worst one in 2018 so far. Bitcoin, still the largest cryptocurrency by market cap out there, is down by over 50% from its $19 666 all-time high in December, after losing more than 30% in January alone. February starts in a similar fashion – with a 750-dollar…

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Weekly Highlights: Bitcoin, Dash and Apple

It’s been a very busy week for the likes of Bitcoin and Dash, as well as the stock market. Cryptocurrencies saw a roughly 40% drop and over $200 billion of value wiped out in 48 hours. At the same time Dow Jones continued climbing and reached 26,000, with optimism partially fueled by the tax cut…

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Bitcoin Bloodbath Was Ten Days in the Making

So far, 2018 is definitely not what crypto investors were hoping for. The entire cryptocurrency market crashed yesterday as each coin lost between 15% and 40% of its market capitalization. Bitcoin, the biggest virtual currency out there, could not escape the bloodbath, as well. BTCUSD fell to an intraday low of $10 162 for a…

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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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Elliott Wave Setup Sends Bitcoin to All-Time High

Ever since it climbed to $6180, Bitcoin has been rather indecisive. The price of the biggest cryptocurrency by market capitalization fell to $5366 at one point on October 25th. Fortunately, it was Wednesday, which means it was time for our mid-week update. In a single .pdf file we provided a short-term update on all seven…

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Bitcoin Breaches $5000 Despite Political Crackdown

Bitcoin’s phenomenal surge continues as the cryptocurrency not only breached the $5000 barrier, but almost climbed to $5200 today. Less than a month ago, BTCUSD was trading below $3000 for a while, following a crash from $4980, which fortunately, the Elliott Wave Principle managed to prepare us for early enough. We have been closely following…

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