Bitcoin price

In the latest Bitcoin (BTC) versus Silver (SLV) analogue piece, remarkable similarities can be seen in the charts. Trying to puzzle out the time frame of the consolidation point is very crucial. In Silver, the consolidation period timing was more than 90 days, nevertheless, the 500% rally also took around 30 months. In Bitcoin, the 500% rally took around 9 months.

Since early last year, cryptoasset investors have been caught in prices declines, fake news, accounts of fraud etc. which have weeded out the weak speculators.  Eventually, this has created a community of investors that more likely believe in the nascent technology or doubt that another wave of speculators will push the markets back to or above their antecedently accomplished all-time-highs.

Even though last week began with the Bitcoin price consolidating, the utmost result was price action hitting a drastic week.

Over the last week, Bitcoin fell below the mark of $3,300. It even passed two support levels at $3,250 and $3,200, however, it found support above $3,120. Is it likely that Bitcoin will rebound in the short term?

The prolonged bear market has left traders with no hope at all. Now it is highly probable that the Bitcoin price will sink further and go down to $3,000 or even less. However, Bitcoin seems to resemble a lottery ticket and one never knows what it can bring.

Wall Street has always been the subject of many discussions and theories. It is not a surprise that people are actively arguing over a theory suggesting that Wall Street has been manipulating the cryptocurrency market in order to buy coins for almost nothing.

Over the last couple of weeks, Bitcoin price significantly dropped, losing 70% of its value since September 2017. This bloody bear market seems to be the most severe in a long period of digital currency history. Luckily, the crypto market has started to recover step by step, with Google search trends for Bitcoin rising accordingly.

This year was not the best for crypto traders, let’s hope 2019 will open new opportunities for Bitcoin. Experts predict Bitcoin will largely increase in value by the end of next year. However, one must always be aware of certain risks related to fintech.

Bitcoin started to lose its value a week ago, on the 14th of November. The crypto market is surprised by an astonishing change in the price of the virtual coin which dragged many altcoins down as well. Furthermore, experts can’t explain what is going on because there are no strong reasons for such a critical decrease.