• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC
  • Play Finance
Breaking News: Crypto Giant Binance In Hot Water: CEO Responds To Trading Violation Claims
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC
  • Play Finance
Bitcoinist.com
No Result
View All Result
Breaking News: Crypto Giant Binance In Hot Water: CEO Responds To Trading Violation Claims
Advertisement

Bitcoin Price Near Bottom as ‘Selling Has Become Exhausted,’ Says Market Strategist

Adam James by Adam James
5 years ago
in Bitcoin Price, Bitcoin, News, News teaser
0
Advertisement
Advertisement

Bitcoin’s decrease in volatility may signal that the bottoming process has already begun — but it may still have a way to fall.


‘A Bottoming Process Can Begin’

While everyone and their grandmother know about Bitcoin’s dramatic decrease in value following exorbitant prices in December 2017, many investors and traders in the first and foremost cryptocurrency are less aware of its decreased volatility.

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!

As noted by Bill Baruch, President of Blue Line Futures, the cryptocurrency market leader’s rolling 30-day annualized volatility is down to around 61 percent — an insignificant number when compared to last year’s highs of nearly 150 percent. At the beginning of June, Bitcoin’s volatility was down all the way to 50 percent.

For Baruch, this decrease in volatility signals something major. He explained:

 Ultimately, after its volatility has become this depressed and the cryptocurrency has lost as much as 70 percent from its December peak, I believe the selling has become exhausted, and a bottoming process can begin.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

‘Significant Upside in the Long-Term’

According to Baruch, what happened to the price of Bitcoin late last year was simply too much, too fast. The sheer amount of speculation and FOMO (Fear of Missing Out) buying led to the inflation of a dramatic bubble — one which has since popped and “wiped out most, if not all, of the over-enthusiasm.”

Because of this, Blue Line Futures’ president feels like the “bottoming process” has begun, explaining:

I like to say that a bottom is a process, not a price. Now that the price and volatility have come back down to Earth, this bottoming process can begin. I see significant upside from here in the long-term.

A Bottom at $4,550?

Bitcoin buyers and sellers are eagerly waiting in anticipation to see if the relatively soft support at $6,000 per coin remains true. However, many are understandably bearish, and buyers may be better served to wait for the bottom to confirm.

As explained by Baruch, the 100-week moving average would likely be the most favorable buying opportunity. He noted:

As for the near term, a bottom would occur more quickly and more constructively if the recent low of $6,000 per coin holds. However, the 100-week moving average is down near $4,550, so traders will be watching that level.

Do you think the bottoming process has begun for Bitcoin? Do you think $6,000 will hold, or will it fall down to the 100-week moving average? Let us know in the comments below! 


Images courtesy of Shutterstock, CoinMarketCap.com.

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Adam James

Adam James

Adam James lives in Budapest and is the Managing Editor of Bitcoinist.com. He digs Gibson guitars that sound like Tyrannosauruses, Romantic & Victorian poetry, Franco-era Spanish films, LPs, Chelsea FC, Bob Dylan, Pilot G2 10s, black coffee, video games, and cryptocurrency.

Related Posts

Bitcoin history of bank runs

Bitcoin & The History of Bank Runs: From The Great Depression To Today

19 hours ago
Bitcoin

Bitcoin’s Horizontal Levels Show Potential For Bullish Trend

2 days ago
Bitcoin (BTC)

‘Nobody will Get Rich Investing In Bitcoin Ever Again,’ Crypto Analyst Sparks Debate

2 days ago
Bitcoin Price Reclaims $28,000 As Core PCE Comes Cooler Than Expected

Bitcoin Price Reclaims $28,000 As Core PCE Comes Cooler Than Expected

2 days ago
Bitcoin BTC mining energy

Will Greenpeace Change Its Mind On Bitcoin Now? New Report

2 days ago
Bitcoin

Research Firm Breaks Down Impact Of MicroStrategy Purchases On Bitcoin Price

3 days ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Play Finance

Trending Projects

  • 5 Best Upcoming ICO List of March 2023

    2 weeks ago
  • Crypto Investment for Long term: 3 Coins to keep your eye...

    2 weeks ago
  • Cryptocurrency to invest in March 2023

    2 weeks ago

Top Casinos

Trust Dice
Trust Dice
Punt Casino
Punt Casino
mBit
mBit
1xBit
1xBit
UU.Game
UU.Game
K8
K8

Press Releases

  • Top 7 DeFi Crypto Watchlist – Buy Now For Gains

    17 mins ago
  • TMS Network (TMSN) Sees Massive 1000% With Presale, Mask...

    1 hour ago
  • TMS Network (TMSN) and XRP (XRP) Ready to Explode, While...

    1 hour ago
  • Cardano (ADA) killer raises $4.3 Million in its presale...

    3 hours ago
  • Binance Coin (BNB) and Uniswap (UNI) Lose Volumes, Uwerx...

    3 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC
  • Play Finance

© 2022 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.