Cryptocurrency

Bitcoin exchange rate reached according to the indicator of 4,400$ to the Halving, and then starts his rally of up to 80,000$

Welcome to our current Bitcoin exchange rate analysis. The nerves are in many places bare, and a large degree of uncertainty makes the round. But perhaps completely wrong?At least in the Bitcoin exchange rate and its development, could, as I will here and now show, all the old Patterns follow. This result of the Bitcoin exchange rate might have found its floor very soon, and a new all-time high (ATH) to announce that the expectations of many will exceed them.But more is not revealed at this point, but you know it already: It will be exciting again! I wish you much fun with our current Bitcoin exchange rate analysis.Please note: None of this articles listed is to Formulate in any way the trading recommendations. This and the following article are solely for the exchange of information with our readership. Neither crypto Monday nor the author of this text shall be liable for any loss incurred as a result of the trading decisions of our readers. DYOR!You secure your Bonus in the amount of 112 $profit from one of the world’s safest and fastest Trading platforms and give your start-up capital for the Extra Boost! You secure your Bonus in the amount of 112 $, because this offer is only valid for a short period of time. Get your Bonus now!

Bitcoin exchange rate leaves 10-year-old trend pattern

On Thursday the 12. March of 2020, many were shocked. The Bitcoin exchange rate was triggered by the General stock market Crash, and due to the lack of liquidity in the market, within a short time, extremely broke. However, this fact alone was not the reason why currently so much uncertainty in the market prevails. Rather, it was to blame for the fact that the Bitcoin price has broken out from a Channel, the managed to say about 10 years, very reliable, the growth curve of Bitcoin price advance. According to this, the floor for the Bitcoin exchange rate would have been, namely, at around 7,700$. Currently, the Bitcoin is price at just over $ 5,000, and is thus significantly below this level.It requires a so-called Blackswan effect to this Channel as a reliable indicator to overturn it. This Blackswan-effect of our current economic crisis, the catalyst of the Coronavirus is. However, if this Channel is no longer valid, how can we Orient ourselves, then? Or this means that the growth of Bitcoin has ended up there forever?

What is the strong downturn in the Bitcoin price does that mean?

Who keeps in mind that the Fundamentals behind Bitcoin within the last week have not changed and aware of the power that Bitcoin was designed precisely for reasons such as the current, which bring the entire global economy will falter, know that this high price is to blame for slump in mainly 2 situations:Lack of liquidity: Bitcoin is still young and the market is too small to really be able to navigate autonomously to its price to develop.Compliance rules for the Risk Management of institutional investors had to liquidate their Bitcoin positions, therefore, during that time many of the Retail-traded, investors panic.This in turn implies that the sharp Price drop was at least partially non-rational and, therefore, unfounded. At least if we assume that Bitcoin was previously overvalued. The latter is not completely far-fetched, since the price increase could be triggered at the beginning of the year by the Price of the Bitcoin Halving in may. Even if this may be true with certainty in part, this is of course not the reason for the sudden and sharp fall in the share price. However, we would probably be possible before the Bitcoin Halving anyway at the current price level of stranded? The following indicator speaks for this Thesis. At least if one assumes that the old patterns have a habit of repeating itself.

The Bitcoin exchange rate is only repeating old patterns?

How do I get to the above statement? Quite simply, the logarithmic growth Channel is the only old and reliable indicator is not, although he was one of the most important. May be he will do it again, if the Bitcoin exchange rate should manage to shoot in the short term, over 7,700$. When us Bitcoin shows through his Course again and again, that we still have much to learn, even though we thought actually, the arch slowly out and in, I still believe it is quite unlikely. But of course it is not impossible!But I want to talk today about another, almost equally old, and reliable Channel. The Top Channel of Yope. This has not only the Tops and Bottoms of the Bitcoin price since the beginning of 2011 are reliable in advance, but what is much more important: He has marked the ground for the Bitcoin price crash last week due to its lower trend line.Furthermore, this Channel shows that the current price action came very suddenly, but their direction is not at all unusual. We zoom in a bit, we see that the Bitcoin price is, as yet, returned each of the previous 2 Halving Events to the lower edge of the Channel. This was when the Halvings of the 2012 and 2016 the case and seems to be true now as well.

The ground is situated at 4,400 $ and the next ATH at around 80.000 $?

This Channel should actually keep and old patterns repeat does this mean for the Bitcoin exchange rate, specifically, 2 things:at The time of the Halvings of the Bitcoin price is being traded at around 4,400$.The new all-time high in about 1 year after the Halving Event and would, according to the Channel at around 80,000$.For this purpose, two things are to be noted. Since 2011, it has happened only once that the Bitcoin price was trading below the lower trend line of the Channel. This was in the period from August to October of 2015, before the Bitcoin exchange rate found its way back into the Channel and it since then has not left.The second point is that the first all-time high in our viewing was quite found exactly 12 months after the Halving Event in 2012, while it took the second Halving Event in 2016 a total of 18 months. Even if this Channel is to retain its validity, temporal variations are very likely. The following rule applies: The sooner the Bitcoin exchange rate reached the upper trend line of the Channel, the lower is the all-time will be high in this Halving-period, and vice versa. In any case, exciting times for us.Do you want to position in time on the market?If you are convinced should be, that anything said could be true, then it may benefit for you at the time of this to Know. It is the decision of whether and how you the market position, of course, entirely up to you. We are here to help you to find the right entry point for your trade. Are you perhaps still in search of a reliable, regulated Broker that you trade with Leverage (2x),taking Long and Short positions,deposits via PayPal,the Sending of real Bitcoins in your Wallet andthe use of a wide range of trading tools,without a Download of any Software is necessary?Then, the world’s leading Social Trading platform, eToro is the Right choice for you!A pleasant Design and easy and intuitive operation with customer service around the clock. Register today, without obligation, and try out all the features of the platform, without being forced to trade with real money.What are you waiting for? Do you want to read about it or it is in their own hands? Your Trading start today, and profit from the strong fluctuations of the Bitcoin exchange rate.62 % of private CFD accounts lose money. No EU investor protection.You look better Videos to read the article? Then look at our Youtube Channel over. Subscribe to our News channel to not miss any News. (Image Source: Shutterstock)

About the author

Eve Manning

Eve Manning

A native Texan, Eve first started out as a Finance Analyst and later realized that her true passion was not in trading but in writing. She leverages her experience in the Finance industry to analyse and write in-depth news articles covering the Cryptocurrencies, Economy & Finance industries.