The date is the 15th of november, and it was a special day. On november 15, 1969, is said about 250,000 Americans are against the Vietnam war. And on the 15th of march 2015, it was to the Arnhem central station was officially re-opened. Last year, on this day, the lying by Craig Wright, this is a tweet to the world:
In his own words, are bitcoin and litecoin are now dead, they have no use to you.
What else does it look like today, bitcoin is stronger than ever, and the Twitter account of Craig Wright, and it doesn’t exist anymore. In honor of the lovely tweet, we look back. How did november end of 2018 look like? And what has been changed?
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Falling wedge is still in effect
But first, a brief recap of the last couple of days. The price of bitcoin is moving in a falling wedge.
And even though the price is now going down, that’s a good sign. A falling wedge is a bullish continuation pattern. In the majority of cases, it leads it to an increase in prices.
In the chart below, you can see that it is not a long time before the lines get to each other. When it breaks down bitcoin consist of?
Then, bitcoin deposit in the other
On november 14, 2018 shall be poured out for the price of a single bitcoin at one another. During the hours of 09:00 and 17:00 hours, the period of time of the working day, it dropped the price by more than 830 euro. That is, a move of almost 15%! And that was a shock, because for the price of a single bitcoin was a month of stability. What went wrong? We will start by looking at the chart, and then dived on the news of the past.
For many months seemed to be $ 6,000 (5.440 euros), a break of support. However, on the 14th of november, it went wrong anyway. And, it was hard. In total, the bitcoin exchange rate by almost 50 percent. A month later, it was the lowest reading will be obtained. Bitcoin was only 2.770 euro.
When a course with a strong support that is often associated with high crime rates. You can see the graph clearly. The price is almost right down the hole.
But the fall is not divorced from the sentiments of the previous year. There was a lot of uncertainty.
For example, there was disagreement within the Bitcoin and Cash. Senior executives, Roger Ver, and Craig Wright, and didn’t even know about the plans for the cryptomunt, and on the 15th of november, used Bitcoin-SV from Bitcoin to Cash. The rumors were that the mining giant is Bitmain is a part of the Bitcoin miningapparatuur was used to from Bitcoin to Cash to go on mine. The rumours and uncertainty, the beat is also reflected in the market price of bitcoin.
And mine is spoken, beginning in november of 2017, are a lot of miners stop mining on bitcoin. This was due to the falling price of bitcoin, but with the increase in the price of electricity. Many miners were also part of obsolete equipment, and thus, no profits gained.
And then, of course, there is the Bitcoin ETF’s. A Bitcoin ETF is an investment instrument for institutional investors. A lot of investors were expecting that the united states Securities and Exchange Commission (SEC) will be a Bitcoin ETF proposal would be accepted. What was the price of a bitcoin is a move to give. But it was not to be, with the SEC, stated, any decision. That also led to uncertainty in the market.
Today: bitcoin is coming to steam
How does it look in a year, then for the bitcoin out. Since the beginning of February 2019, the bitcoin price is again an increasing trend to address it. Three weeks ago, it was in the course with forty per cent a day increase.
The positive trend in you see, back when the 50-day Moving Average is included at the bottom. Since march, this line will be a strong support for the share price. The price is barely below it. Just as I fear in the end of november, and plunged the race to the bottom. But for now, it seems that the road to recovery will be used:
Also, the sentiment is much more positive than last year at this time. Bitcoin futures platform with Bakkt could be expected in the first instance, yet did not live up to it, but is now in a slow stream. Also, investors will from the 9th of december, trading in a bitcoin put options. There are more and more ways to get into bitcoin investing and the market will be more mature.
Positive noises from China and also to enhance trust and confidence in the bitcoin and cryptocurrency. A notable trend is that more and more big players such as Facebook and central banks, digital currency, are willing to spend.
Finally, it is still something to consider. The bitcoin block halving, it is among the die-hard crypto-community with a well-known phenomenon. However, the effect and the effect of the halving will now begin to seep into the mainstream media. This allows for a new flow by investing in bitcoin?
A year after the tweet, by Craig Wright, and it looks a lot brighter for bitcoin. We are in a rising trend, and the bull market returns with a vengeance. What do you expect from the november 15, 2020?