I've seen several posts calling for "Buy the dip" and DCA since the bear market started These posts only increase when the chart is green not red. Usually with no TA or FA backed advice just "I timed the bottom; up X%." It works trust me I know it is easy right now if you…
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Bitcoin and most major altcoins are close to breaking below critical support levels and traders’ reluctance to buy in the current range could exacerbate the sell-off.
Three years ago, on this day, the origin of the Ethereum Cat Herders was announced as a decentralized way for project management to facilitate inter-team communications in the Ethereum developers community. We published a Medium post and a short YouTube video for everyone to learn more about the Ethereum Cat Herders. Excited to be a…
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I'm fairly new in the crypto world, bought most of my portfolio at the ATH of November and I'm now stuck with an ever shrinking crypto account. I'm also new to investment in general, so when I learned about bull and bear markets last year, I thought I understood what they meant. Bull is when…
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To all those drained in spirit, I would like to introduce you to my very good friend – the golden bear. It may be more challenging to survive and thrive through the winter, but if you find a way, you'll be worth your weight in gold. Future Trading WARNING on this one, it's not for…
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It’s unclear what role crypto may play in the community, given Tanzania’s central bank banned digital assets in November 2019.
Bitcoin has now broken down past $38,000 for the first time in over four months. This is a crucial point for the digital asset given that it has successfully maintained its position above this level throughout all of the crashes and dips of the previous month. While most would like to think that this is only a temporary setback that will soon be resolved, analyst Nicholas Merten has warned investors to brace for even more volatility. Prepare For Further Downside In a recent video on his YouTube channel, Merten shared with his over 87K subscribers some gloomy analysis surrounding bitcoin. The analyst starts out by acknowledging what most have experienced in the market, believing that the recent rebound was a telltale sign of more upside to come. However, this could not have been more wrong as the digital asset has suffered even more dips following that. Related Reading | Bitcoin Implied Volatility Plummets To Pre-Bull Market Levels: What This Means Merten pointed out the fact that the gains realized from when bitcoin jumped from $41k to $44k have quickly faded and that there is not a lot of significant support ranges as the digital asset makes its way down with the downtrend. He predicts some major volatility that will drag the price down to levels not seen in about a year. Comparing the market to that of May 2020, which would see the price fall to the $29,000 range. “It’s just likely at this point that we repeat what we saw back in May to some degree,” he said. “Having a correction down to this range [$29,000 to $30,000], getting people towards what I would define as max pain It basically defines the point of peak fear when everyone, even the bulls are convinced that we’re in a bear market.” The analysts expect more downside to the tune of 20% to 30%, which would put the price of bitcoin at the range he predicts. BTC crumbles below $37k for first time in four months | Source: BTCUSD on TradingView.com Still Bullish On Bitcoin The fact that Merten relayed such a gloomy diagnosis for bitcoin in the short term does not mean that the analyst is particularly bearish in the long term. He explained that despite the market showing bearish trends, he remains a bitcoin bull. “We’ve been bearish in the short term over the past couple of weeks and we believe that there is still more downside to go, [but] I’m still a long-term bull.” Related Reading | I Only Hold 1 Bitcoin, Real Vision CEO Raoul Pal Reveals Additionally, Merten reiterates the fact that the market is still in a bull trend. Usually when prices start declining as fast as they are now, panic spreads across the space as most believe the bull market is over. For Mertern, this is not the case. He explains that just as a downward correction is likely, bitcoin could very well switch up and head towards the $150K to $200K range. “I believe that we’re still in a bull market, not a bear market. It’s very likely that we could see this correction, but at the same time, it could be the catalyst to finally set ourselves up on the next uptrend and charter towards the $150k range, $200k range for Bitcoin.” At the time of writing, bitcoin’s price is down 9.61% to be trading at $37,945. Featured image from Medium, chart from TradingView.com
Could stablecoins be undone by a Federal Reserve that takes consumer deposits? Would retail banks be hobbled?
A lot has changed in regard to the prices of various crypto assets throughout 2021, as today’s top crypto assets look a lot different than they did 12 months ago. Moreover, the most valuable cryptocurrencies in terms of U.S. dollars per unit have also changed, and the top ten most expensive coins have shifted. The […]
