ICOCalendar.Today

  • ICO Directory ๐Ÿ“–
  • ICT Token ๐Ÿ”ฅ
  • Blockchain News ๐Ÿ—ž
    • Ethereum
    • Binance
    • Cryptocurrency
    • Litecoin
    • Monero
    • Ethereum Classic
    • Bitcoin
    • Tezos
    • Tron
    • Cardano
    • EOS
    • Algorand
    • ZCash
    • Dash
    • Chainlink
    • NEO
    • Maker
    • DeFi
  • List a project ๐Ÿ’ฃ
  • Submit Press Release ๐Ÿ‘
  • ICO Directory ๐Ÿ“–
  • ICT Token ๐Ÿ”ฅ
  • Blockchain News ๐Ÿ—ž
    • Ethereum
    • Binance
    • Cryptocurrency
    • Litecoin
    • Monero
    • Ethereum Classic
    • Bitcoin
    • Tezos
    • Tron
    • Cardano
    • EOS
    • Algorand
    • ZCash
    • Dash
    • Chainlink
    • NEO
    • Maker
    • DeFi
  • List a project ๐Ÿ’ฃ
  • Submit Press Release ๐Ÿ‘

The Greatest Shakeout: Bitcoin Reclaims Generational Log Curve With 160% Rally

5/9/2020

Comments

 
The devastating day now known as Black Thursday took Bitcoin price down to $3,800. The sharp collapse also knocked the asset out of a logarithmic growth curve it had been following its entire history. This latest, over 160% rally has now reclaimed that generational log curve, making it the greatest shake out the cryptocurrency market has ever witnessed. Bitcoin Reclaims Log Growth Curve After Greatest Shakeout In Crypto History Bitcoin price had been trading at over $10,000 in February, after an early rally in 2020. The stock market alongside it had set a new all-time high. But a spreading pandemic and its impact on the economy had other ideas for markets, causing a catastrophic collapse. The stock market suffered its worst quarter close on record as a result, and Bitcoin fell out of a logarithmic growth curve it traded within for over ten years. Related Reading | Stimulus Checked: Hereโ€™s The ROI on a $1,200 Investment in Top Crypto Assets  The drop out of the growth curve had even the most dedicated Bitcoin supporters wondering if it could actually go to zero. Oil prices falling into negative territory alongside Bitcoinโ€™s demise only further fueled these fears. However, markets have been recovering thanks to stimulus checks handed out by the US government. The economy is reopening, and the pandemic is slowing. Bitcoin has now rallied over 160% from its recent bottom and has reclaimed the log curve, leaving the greatest shake out in crypto history on Bitcoin price charts. Possible Price Targets Based on Logarithmic Growth Curve Bitcoin is trading back withing the all-important logarithmic growth curve. It can once again be used with some confidence for upside price targets and finding the next potential peak. Upside targets can be established by targeting the upper band. Selecting key dates that may act as logical tops for Bitcoin, can provide sensible and realistic price levels. There is a tendency for Bitcoin to reach set its tops and bottoms in December, so December 2020, 2021, and 2022 have each been selected. Potential top levels put Bitcoin price reasonably at $88,000, $130,000 and $160,000 respectively. As time goes by, the potential growth slows and volatility within the curve declines. Related Reading | One Week Away: Comparing Past Pre-Halving Bitcoin Price Action  Each time the crypto asset passes through the median line, it has set a new all-time high price record. Falling through it has resulted in a bear market. In the example above, it failed to break through the median in June 2019. Each new bull market has been the result of Bitcoinโ€™s halving, which is just three days away. Now that the shakeout is over, Bitcoin has reclaimed the log curve, and the halving is here, the next bull market may finally be next. Featured image from Pixabay, Charts by TradingView  

Via https://www.newsbtc.com/2020/05/09/the-greatest-shakeout-bitcoin-reclaims-generational-log-curve-with-160-rally/?utm_source=rss&utm_medium=rss&utm_campaign=the-greatest-shakeout-bitcoin-reclaims-generational-log-curve-with-160-rally
Comments

    Blockchain News

    Leading global blockchain news provider. A blockchain, originally block chain, is a growing list of records, called blocks, that are linked using cryptography.
    BLOCKCHAIN NEWS

    Archives

    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    November 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017

    RSS Feed

​About

  • About us​
  • ICT Token
  • News​​
  • Testimonies
  • Terms of Service​​
  • ​​We on Google News​ 🤑
  • ​We in the media
  • ​Partners

Let's connect!

News Feeds

  • Blockchain News
  • Jobs Board 👨‍🎓
  • Bitcoin News
  • Ethereum News
  • Binance News
  • ​Tron News
  • Cardano News
  • EOS News
  • Tezos News
  • Stock Markets
  • COVID-19 News
  • Crypto News
  • Chainlink News
  • Litecoin News
  • Dash News
  • Monero News
  • ETC News
  • NEO News
  • Maker News
  • DeFi News
  • ZCash News
  • Algorand News
© 2017-2020 ICOCalendar.Today. All Rights Reserved.