Bitcoin News
By TCA PR
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Potential Repeat of 2014 to 2015 Bear Market
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Could Repeated Bear Market Send Bitcoin to New Lows?
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During the first week of 2020, the crypt space is already anticipating Bitcoin (BTC) being off to the races to achieve a new all-time high setting.
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The entire BTC bulls are rejoicing the downtrend, which was the first crypto has spent during the previous six months.
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However, bulls were warned they before fully enjoying the victory, and they have to be beware that bears might be still in control.
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If you are aware, BTC is only 11 years young and comes with a little history. So, as the history repeats and markets are cyclical, rallies and corrections might take the same…
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However, when it comes to Bitcoin, even a short period of drawdown can already leas to lost ground.
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The recent downtrend made people in the crypto market reminisce about the bear market back from 2014 to 2015.
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Crypto analyst CryptoHamster tweeted, “I don’t insist. Moreover, I think it is very unlikely to happen. But don’t deny that there is a resemblance.
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By comparing the same sort of behavior and pattern against the current bear market of BTC along with the slightly adjusted timescale, the price action follows a similar…
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Other than the 2014 to 2015 bear market, Bitcoin also experienced a 2018 bear market.
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Based on the previous cycle, BTC started forming the bottom pattern, which is a solid head and shoulders chart formation between June and July in 2018.
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Today, BTC came with the recent downtrend once more, which caused its price to rally the same way it did in 2018.
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In the case that same sort of price action will follow the last time, the price of BTC might fall back down to lows at $6,000 before it breaks down lower, leading to the 200-week…
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