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« on: November 05, 2018, 12:27:19 PM »
A few months ago, the CEO of the BitMEX cryptocurrency derivative platform, predicted that the price of bitcoin would reach $ 50,000. In fact, this has been less than 6 months, the event in the bear market period is enough to make the short-term forecast to fall more than 95%.
Hayes now predicts that the downward trend in bitcoin will be up to 18 months ahead, reflecting on the "nuclear bear market" in the crypto industry in 2014 and 2015. This decline has doubled its prediction.
When we look at charts often the bear market is the beginning of the asset fall below its peak cycle, Hayes said that a better strategy should be used at this time when bitcoin prices fall below the 200 Day Moving Average (DMA). From this metric, bitcoin entered a bearish period on March 12 when it was priced at $ 9512 and only saw a 37% decline. Bear market in the past has seen bitcoin fall below 200 DMA, he commented that we still have a long period before the bearish period is over, the possibility of potential bitcoin will fall to $ 2000 before bullish again. "How far can we go?" He asked. "75% of prices fall from $ 9152 to $ 2000. $ 2000 to $ 3000 may be new support.