Any decline should be lasting 6-8 weeks.
Showing posts with label Bitcoin. Show all posts
Showing posts with label Bitcoin. Show all posts
Thursday, March 14, 2024
Bitcoin weekly high probable by next week | Robert Miner
Labels:
Bitcoin,
Elliott Wave,
Robert Miner
Saturday, March 9, 2024
Bitcoin April 2024 Halving - Target 150K+ by October 2025 | Peter L. Brandt
Bitcoin halvings are strongly associated with past bull market trends in Bitcoin. Also, a strong correlation exists between the halvings and the timing of the associated bull trends. More precisely, in the past the halvings have been right at the half-way point of major bull cycles. In other words, the lengths of bull trends following the halving dates have been about equal to the length of the bull trends prior to the halving dates [...]
The 2022 to 2025 Bull Cycle
We know what HAS BEEN in previous bull cycles. We have confidence in what we already know. But projecting past price behavior into the future is highly speculative. The next halving is April 22, 2024. Assuming that the low of the current bull cycle was in late November 2022. That low was 75 weekly bars before the April 2024 halving.
If the bull trend extends 75 weekly bars beyond the next halving, a price high would occur in early October 2025. If the pace of the bull trend after April 2024 is at similar pace to the bull trend since the November 2022 low, then the high in October 2025 could be around $150,000.
However, the post-halving advances during previous bull cycles have been much steeper than the pre-halving advances.
Quoted from:
Peter L. Brandt (Feb 14, 2024) - The precocity of bull markets in Bitcoin as associated with halvings.
Peter L. Brandt (Feb 14, 2024) - The precocity of bull markets in Bitcoin as associated with halvings.
Monday, May 30, 2022
Monday, May 28, 2018
BitCoin vs Number of Up Closes (last 30 days) | At or Near Major Low
Saturday, April 14, 2018
S&P 500 Index vs BitCoin | shifted 44 Calendar Days
The correlation between Bitcoin prices shifted 44 Calendar Days into the future and the S&P 500 was discovered by Raj Time and Cycles (HERE + HERE). The correlation cycle is not perfect; it contracts and stretches ± 2 calendar days. Currently a 44 calendar day correlation points to a major high in the S&P 500 around April 17 (Tue).
Labels:
Bitcoin,
Raj Time and Cycles,
SPX,
US-Stocks
Saturday, February 17, 2018
S&P 500 Index vs BitCoin | shifted 42 Calendar Days
See also Raj Time and Cycles: "Looking good Billy Ray!" |
Labels:
Bitcoin,
Raj Time and Cycles,
SPX,
US-Stocks
Friday, May 26, 2017
Bitcoin Bubble │ Re-Emerging Asian Fever
Source: CryptoCompare BTC/USD Index |
Bitcoin has risen 170% over the last three months to reach a capitalisation of USD 40 billion according to the CryptoCompare BTC/USD Index, Ethereum too has seen its market capitalisation jump 330% in the past three months to reach USD 20bn according to the CryptoCompare BTC/ETH Index. It is Japan, Korea and Asian interest that is causing the price to rise and dragging up Western prices on the back of regulatory moves as well as scaling. This is the total market capitalization of all cryptocurrencies:
Source: CryptoCurrency Market Capitalizations |
To
date that has mostly meant Bitcoin, but over the last two months
Bitcoin’s share of cryptocurrency capitalization has actually plummeted
to less than 50%, thanks to the sharp rise of Ethereum and Ripple in
particular:
Source: CryptoCurrency Market Capitalizations |
This news is the latest bit of good news for the Bitcoin:
- At the beginning of April, Japan announced Bitcoin had become a legal payment method in the country.
- Additionally, Ulmart, Russia's largest online retailer, said it would begin accepting Bitcoin even though Russia had said it wouldn't explore the cryptocurrency until 2018.
- The gains also seem to be boosted by speculation the US Securities and Exchange Commission could overturn its ruling on the Winklevoss twins' Bitcoin exchange-traded fund.
- And most recently, Fidelity's CEO Abigail Johnson lending some credibility to the crypto-currency, explaning how her firm was mining Bitcoin, and accepting payments in the virtual currency.
- And finally, as a reminder, it appears Bitcoin is one of the only (un-rigged) assets in the world that is reflective of global policy and geopolitical uncertainty.
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