By Guk - 22.01.2020
Bitcoin bottom 2019
Bitcoin corrected by over 50% from the high of $ The crypto has turned bullish in according to popular traders. The drop-off in Bitcoin mining revenue to levels show a macro bottom for BTC is near as the impact of the halving is starting to be felt.
Colin First Mar 31, PM GMT In my precious monthly forecast article, I had mentioned bitcoin bottom 2019 price action in the month of March will be highly dependent on headlines to support price momentum.
While that part more or less turned out to be true, investors reaction bitcoin bottom 2019 headlines took on a different tone.
The bitcoin bottom 2019 seemed to support positive price action as mentioned in the previous article with Bitcoin seeing strong gains overall for the month of March.
This created a cycle of dead cat bounce attempts with significant corrective price action all of which saw bears being trumped in the end and bulls continued to bitcoin bottom 2019 a strong foothold. The price action from last month has created a picture which clearly suggests that Bitcoin has found the bottom in short to medium term and is now on a steady recovery rally.
While a few key hurdles seem to have been scaled https://market-id.ru/2019/ethereum-in-2019.html far, many hurdles still remain ahead of long term target which needs to be breached for bulls to truly gain supremacy and for cryptocurrency bitcoin bottom 2019 to truly gain the lost momentum which took Bitcoin bitcoin bottom 2019 other major legacy cryptos to new all-time highs.
The Ethereum hard fork seems to have had a successful outcome and despite initial caution in the global market over the possible impact of network upgrade market activity turned out to have a positive outcome.
As the bulls had successfully managed to weather the scenario and prevented history from repeating itself thereby managing to retain gains and positive bitcoin bottom 2019, bulls continued to aim check this out new heights across the month of March.
As pointed out in my daily forecasts during the month of March, bulls seem to be growing in strength and increasing their foothold over territory on rebound post every single dead bitcoin bottom 2019 bounce scenarios. Speculative trading led to a huge level of fund flow being cycles within the cryptocurrency market.
When Bottom? Here Are The Top Bitcoin Price Predictions Today
This is viewed as a clear sign bitcoin bottom 2019 the fundamental perspective, that cryptocurrency market has finally found the bottom and is now steadily building up a recovery rally albeit slow progress in same.
Meanwhile, news that Bitcoin mining hashrate rose for the first time bitcoin bottom 2019 miners began closing shop on lack of profit to sustain activity was also viewed as a welcoming move which provided the market with fundamental click to see more. Increased hashrate is bitcoin bottom 2019 clear sign that mining activity is beginning to boom again.
As all the weeds who wanted to ride the wave have washed out from the market, those who still remained in cryptocurrency market were either loyalists or investors with huge bitcoin bottom 2019 balance who knew how the cryptocurrency market worked and was willing to let bitcoin bottom 2019 significant portion of thier funds stay article source for prolonged time over prospects of seeing high gains.
While this move could be a 2019 bitcoin prediction blow to market as it could cost the mark quite a few billions if and when bitcoin bottom 2019 move their funds out of the market if the crypto assets managed to hold out attempts by bears to derail gains, Bitcoin and major legacy crypto coins will see market move up on next leg bitcoin bottom 2019 the upside move.
Moving forward, the path with least resistance seems to be on the upside as bulls continue to exhibit firm hold over price momentum. Please feel free to let us know what you think in the comments below.
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