Cryptocurrency

3 reasons why there will be no Bear Run

Unless you’ve been under a rock; or that you have not found criptotendencia.com until now, that is pretty much the same; you will have noticed that neither to Bitcoin (BTC), or the crypto ecosystem in general has gone well. And apparently we may be going in the direction of a Bear Run ?. The price of the first criptomoneda of the world bounced wildly as which ball in the resistance level of $10.500. And after two weeks of action, a bassist; it was marked by the strong decline of the past few days, which led to BTC close to $10k up to $8,000 and even more. So we should not be surprised to meet with so evil genius in the social networks of the crypto traders, investors, and even the news pages. However, many crypto-analysts continue to be very positive. Already they have begun to promote a series of technical reasons and the fundamentals on why they believe that Bitcoin (BTC) had this Bear Run; and why they believe that there is much more to worry about. And here in criptotendencia is summarize.

Reason number 1: The level of support macro

Although, Bitcoin is dramatically below that some days ago in the past. A support level is showed as being very strong, and was $ 8.500; which resisted the price levels of BTC and even he did bounce back; again as that ball up to the $ 8.900. Several of these crypto-analysts positive believe that this rebound is a relative show of an upbeat feeling in the bottom of the crypto market.

Around $ 8.500 there is a confluence of so many levels, macro media, such as technical supports. Expressed Filb Filb.

Reason number 2: The halving of Bitcoin (BTC) is close to

According to several experts, the shock mass to be generated by the halving of the reward for mining Bitcoin is only months to occur. Even if the first and most famous criptomoneda of the world does not find a level of support very clear about the $ 8.500 models point to an increase in prices. The halving of the rewards is an event that occurs once every approximately 4 years. And the estimates say that the halving may occur at the beginning of the month of may. The so-called model of prices “stock – to – flow” done by the famous crypto-twitero PlanB, a crypto analis who works for a european company, suggests that the scarcity of Bitcoin is closely related to the market value of the more important of the criptos. In your model, the next halving will trigger a BTC to a place around the $ 100,000; that would represent an increase of over 1,000 % compared to its price today. As difficult as it seems to be the fulfillment of this prediction; according to the same PlanB, your model has a R squared = 0.9372.

My model suggests that the relationship between the scarcity of Bitcoin and its market price is not a coincidence.PlanB

Reason number 3: The general interest is increasing

The latest data show that the interest of users and retailers towards the world of cryptocurrencies, in particular, became Bitcoin, is in full rise. Among these data of popularity and interest, there are several indices that are widely used by the criptoverso. Demand for Grayscale’s Bitcoin Trust (GBTC): this index measures the exposure that is taking the american public to the cryptocurrencies.The volume of operations of the crypto exchanges: The volume on the major exchanges of cryptocurrencies has increased steadily in the last 2 months. Especially in Coinbase, which is considered as the favorite site for the crypto hodlrs retailers.Google Trends: This is one of the indices most commonly used, and in the past few months the searches of “Halving” and “Buy Bitcoin” has increased in unison. This demand is important, as recall that this was helped with the launch of Bitcoin of $ 1,000 to $ 20,000 in the year 2017. Do you think that there will be a Bear Run in these last few months before the Halving of BTC?; or do you Think that has started to the fearsome Bear Run?.

Did you like the content? Share it

About the author

Caroline W.

Caroline is passionate about learning languages, cultures and the Internet. She has years of experience working at international online advertising projects. Growing interested in Bitcoin and cryptocurrencies in late 2018, she joined CurrencyMarket24 as a writer.

Cryptocurrency Market