Is Bitcoin bullish? Bitcoin price analysis based on technical analysis.
New York City: Bitcoin (BTC) is a digital currency that was created in 2009 by an unknown person using the alias Satoshi Nakamoto. Bitcoin is often referred to as the first decentralized digital currency because it does not have a central repository or single administrator, which has led the US Treasury Department to call it a decentralized virtual currency. Bitcoins are created as a reward for payment processing work in which users offer their computing power to verify and record payments into the public ledger, called the blockchain. This activity is called mining and miners are rewarded with transaction fees and newly minted bitcoins. Besides mining, bitcoins can be obtained in exchange for fiat money or through direct purchase from an individual.
Is Bitcoin bullish or nah?
Bitcoin is in a bear market, but whether it’s bullish or not depends on how you look at it.
To understand this, let’s first take a look at what defines a “bear market.” A bear market is when the price of an asset drops by more than 20%. In other words, if you were to buy $1 worth of bitcoin (BTC) today and then sell your shares tomorrow for $0.80 per share—a 10% drop—then this would be considered a bear market because your investment would have lost 20% of its value since buying it.
But why do we care about whether or not bitcoin is still in one? Well, if BTC has been trading sideways since December 2018 (when its all-time high was reached), then that means that no matter what happens now with prices rising or falling further down before they start climbing again–it’ll always be considered partaking in some type of activity within these narrow parameters.
Bitcoin price analysis based on technical analysis.
Technical analysis is a method of predicting the future price of an asset based on its past performance. The primary tool used by technical analysts is charts and graphs, which allow you to see how current prices compare with previous highs and lows.
For example: If you look at bitcoin’s price history over time, you’ll notice that it has been very volatile in recent months (the first half of 2018). In fact, it seems like every other day there’s another huge rise or fall in BTC value—which makes sense if we consider that this cryptocurrency has become quite popular over the last few years!
Now let’s take a look at some interesting facts about Bitcoin:
- It was created in 2009 by Satoshi Nakamoto as an open source project under development by volunteers worldwide;
- Its original name was “Bitcoin Project”;
- It uses blockchain technology;
- Its value currently sits around $10k USD per coin .
Bitcoin price prediction.
- Technical Analysis
- Fundamental Analysis
- Big Picture and Current Situation
In this section, we’ll discuss the technical analysis of Bitcoin’s price. Here are four fundamental factors that can help you predict whether or not Bitcoin will go up or down in value:
A quick look at the BTC trading volume.
The volume is a measure of how much trading activity there is in a particular stock or commodity. It’s expressed in terms of the number of shares, contracts or lots traded over a certain period.
So how do you read the numbers?
Volume can be expressed as:
- A total asset value (TAV) – this includes everything that was traded during the period, including open interest and closed out positions. This can help you see how much money changed hands on different coins over time.
- Number of trades – this is simply the number of transactions that occurred during your timeframe (i.e., if you had only one trade every five minutes, it would look like there were 0 trades).
The big picture of how BTC price is moving.
In a nutshell, BTC price is in a downtrend. The short term charts show that it is still falling and this shows that the bearish market is still continuing.
The long term trend has been bearish since January 2019 with no signs of reversing or changing direction anytime soon so we can consider this as one of the longest bear markets ever observed in cryptocurrency history which means that it will take some time for Bitcoin to recover from its current position at least until 2021-2022 when another bull run might start up again!
What should you take away from this article?
- Bitcoin is in a bearish trend. The price of BTC is likely to increase to $4,000 in the next few months and then again to $6,000 in the next year.
- The price of Bitcoin is likely to increase even further after that because it has a strong fundamental foundation and there are no signs that it will go down anytime soon (or ever).
In this article, we have looked at the technical side of Bitcoin. We can see that there has been a lot of buying pressure recently, which is what has given Bitcoin such a huge jump in price. However, as we close in on our final takeaway, it’s important to remember that there are still several factors that could impact how things play out from here on out: regulatory uncertainty?