Since the beginning of 2018, investors of Bitcoin and crypto currency have been caught in a huge sea of endless waves of price drops, counterfeit news, fraud calculations and countless other examples that shake weak speculators. The remaining is a group of investors who are enthusiastic about the technology and who believe in the sector. These people think that another speculator wave will take the markets above the highest level of all previous times. Although the ongoing bear market is incredibly difficult for novice investors, the analysis of historical trends may indicate that another Bitcoin bull market is close.
Analyst: ıy The future of Bitcoin lies in the study of the past. Anal
A theory of the future of Bitcoin, which will undoubtedly determine the direction of all the crypto-currency markets, has recently emerged on various social media platforms. This theory uses historical trends to predict the future of market movements. Galaxy, a popular crypto currency analyst on Twitter, recently discussed the possibility of a bull run approaching BTC based on historical trends. In addition, the Galaxy statement, about 50,000 followers, "the future can be understood by examining the past" stressed. Crypto currency analyst announces the following comments
We are approaching the 420-day mark that ended in 2014 and ended the bearish market that lasted until 2015, and if history repeats itself, we are heading for a few months of accumulation and a new bull race that will begin in mid-2019.
Although the 2018 month market has not lasted so long, the patterns between the two markets are strikingly similar. This means that, as Galaxy has stated, BTC will enter a time of accumulation to continue by another parabolic bull.
Technical indicators support a nearby Bitcoin bull race
In a recent report, the GTI VERA Bands Indicator gave a rare signal that uses trend data in large time frames to help investors gain insight into future price movements. According to this indicator, the leading crypto currency is approaching a point of attraction that could lead to a large price movement.
This was supported by the Directional Movement Index (DMI), another widely used technical indicator. The Directional Movement Index has recently experienced a positive decline for the first time in a few months for Bitcoin. This suggests that the digital presence has seen a growing pressure on pressure in recent weeks despite its relatively horizontal movement.
These theories give investors hope in the bear market
Talking about the validity of DMI's trade signal, eToro's senior market analyst, Mati Greenspan, noted that there is a very long resistance level for cryptocurrency before seeing a bull market in BTC. He also said the BTC has a long way to go before the bull market. Mati Greenspan adds:
Technical analysis makes these levels very strong. But I think we're going to go over 7,500 when we only see a strong break of $ 5,000 and over $ 6,000. When this happens, people will really believe that the price increases and the bull market is coming.
Although the validity of the above-mentioned technical indicators is controversial and the theories about an approaching bull race continue to be seen, it gives hope to the battered investors that the price rally may be on the way.
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