Bitcoin | Consolidation or crash?
Bitcoin | Consolidation or Crash?
First some good news:
The Bitcoin Misery Index, BMI, Is Flashing A Buy Signal
And my analysis:
Many users are in arms because Bitcoin keeps dropping and pulling altcoins down with it.
So even if you're not a Bitcoin maximalist, the big question is: Is Bitcoin going up again?
It looked like a consolidation
http://woobull.com/introducing-nvt-ratio-bitcoins-pe-ratio-use-it-to-detect-bubbles/It turned out a crash
http://charts.woobull.com/bitcoin-nvt-ratio/
The number of transactions is currently very lowYep. More downside is possible:
http://charts.woobull.com/bitcoin-nvt-signal/
I'm making two predictions:
- We're in a bear market;
- The bottom will be around $4000;
Lets see in a couple months.
You can buy Bitcoin in many places, and short Bitcoin at Kraken and BitMex.