Home » bitcoin updates » New Bitcoin Records ?: Massive Price Turnarounds on Bitcoin and Bitcoin Futures – An Interesting Chart Shows How It Goes On | News

New Bitcoin Records ?: Massive Price Turnarounds on Bitcoin and Bitcoin Futures – An Interesting Chart Shows How It Goes On | News

Wednesday, February 14th, 2018 | bitcoin updates

Investors in the world's biggest option CBOE had a lot to endure last week: While the focus of many market participants was on massive fluctuations in the stock market, Bitcoin futures have also been highly volatile. Even the spot price for the Bitcoin put a rollercoaster on the floor and even correlated with the stock markets.
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This rather unusual interaction of falling and rising stock prices and Bitcoin had already led several analysts to say that the crypto-currency may soon serve as a pointer to stock market performance. "Bitcoin could become a leading indicator of financial markets and risk appetite," said US Grobank Morgan Stanley. Wells Fargo experts also believe, "Bitcoin and the market are correlated."
Interesting Chart: So it could go on with the Bitcoin

For investors, the question arises: where is the journey going at Bitcoin, after the world's largest crypto-honey has undergone a massive correction since the beginning of the year? Pension Partners analyst Charlie Bilello has tweeted a very meaningful chart that analyzes Bitcoin's most massive price moves in the past:
Trend Following in Bitcoin. NEW POST. $ BTC.X https://t.co/N7MarQ6Lzp pic.twitter.com/0u3wBpmGzv- Charlie Bilello (@charliebilello) February 13, 2018

Looking at bitcoin development historically, it shows an interesting, because unique tendency. The crypto-well has seen several price drops with crash potential: in 2010, when the crypto-wort lost 94 percent of its value in just 24 days. A year later, it went down again by 94 percent, but the cyber currency needed for the renewed slump about three months. In 2013, at the beginning of 2015, the fall was 85 percent, and the downward trend lasted more than a year. However, there was one thing that all shareholders had in common: The Bitcoin recovered as a result of the crashes and, on balance, provided a positive balance sheet for those investors who had taken the price drops.

At the moment Bitcoin has lost 70% of its high in December – in just 51 trading days. If one transposes the historical price development to the current events, the downward trend in the Bitcoin price may last for some time, but should ultimately lead to new esteem.
 Is the Bitcoin comeback inevitable?

While the number of Bitcoin critics seems to be increasing every day, other experts are still sticking to their positive estimate of the digital currency. One of the biggest supporters of cyber money is Internet expert John McAfee. Not only does he credit Bitcoin with a $ 1,000,000 price hike, but even with the recent Talfart, McAfee does not take opitism.

On Twitter, he recently shot sharply at those investors who denounced the Bitcoin and believe the crypto bubble had exploded: "Please, dear people – get the right perspective for the market!" Bitcoin is still higher today than it was three months ago Continues to rise in the long run Forget short-term ups and downs! "says the digital expert.
Please God people – get a perspective about the market! The price of Bitcoin today is still higher than it was just three months ago! In a long term view, bicoin is still climbing. Forget about these short term ups and downs. If you are a short term investor, you need to get real John McAfee (@officialmcafee) February 4, 2018

Even Bitcoin investor Cameron Winklevoss, who recently failed with his Bitcoin ETF, sees no reason to withdraw his money from Bitcoin despite the current weakness. On the contrary, he considers the current prices a good buying opportunity. Jamie Burke, CEO of venture capital company Outlier Ventures, which focuses on blockchain investments, also sees this. He believes that from March 2018, cyber money could begin to move up, even outshining the 2017 boom.

The historical data argue for a bullish attitude towards Bitcoin. Anything that would break investors in this case would be patience – and strong nerves.
Editors finanzen.net

 
More info: Buy Bitcoin – That's how it works
 

Image sources: Igor Batrakov / Shutterstock.com, Parilov / Shutterstock.com, r.classen / Shutterstock.com, Andrew Angelov / Shutterstock.com

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