The graphs show how bullish/bearish conversations about Bitcoin (BTC) are on social media. 0 is extreme bearish, 1 extreme bullish. The underlying data is collected from Twitter, Reddit and Bitcointalk and updates every hour. Hover over the score in the top graph to see the topics trending at that time. Dec 28, · Instead of a normal bull/bear cycle, Bitcoin would break convention and enter a “Supercycle” Thread 👇 — Dan Held (@danheld) December 26, Below are some of the interesting points that Dan presents in his hypothesis. BTC’s market cycle has been typically around 4-years i.e. the period at which Bitcoin undergoes halving. Bitcoin price reached a new all-time high at $35, and has stagnated since. Here is a recap of the likely bear and bull cases for BTC. Bitcoin price reached a new all-time high at $35, on Binance on Jan. 6. Following the explosive overnight uptrend of Bitcoin, on-chain analysts are generally optimistic about the short-term trajectory.
Bull bear bitcoinWhat’s next for Bitcoin price after $35K? Bulls and bears speak out | Bitcoin Insider
After posting a few bitcoin charts on the bitcointalk. And so it began. The need for insight and guidance regarding cryptocurrency is much higher than in conventional financial markets.
The lack of traditional valuation metrics and the uniqueness of the asset itself makes it highly susceptible to broad swings and large cycles that are unheard of in the legacy markets. Most people who come into bitcoin trading have very little market experience, and hear about it at the height of a bubble, therefore we thought it important to give market participants an objective voice of reason to help cut through the cacophony of noise surrounding this new asset class.
We also have backgrounds in finance and accounting and are pioneers in cryptocurrency trading all having been involved in these markets since Our team hails from all corners of the globe which therefore gives us a holistic and international approach to and view of the cryptocurrency markets. On that note, feel free to give us a tweet bitcoinanalyst or to shoot us an email at support bullbearanalytics.
Feel free to contact us with questions or if you need any help or services. We provide you with the most insightful market commentary, actionable trade ideas, and presciently timed calls in order to help you consistently beat the market makers.
Welcome to BullBear Analytics. Our Mission BBA exists to help people navigate the complexities and risks of frontier financial markets so as to better build and protect their wealth. Our Origin In late , when bitcoin trading began in earnest, we realized that there was no guidance of any kind for bitcoin traders. Contact Information Feel free to contact us with questions or if you need any help or services. Email : support bullbearanalytics. Additionally, the extensibility of the protocol to include things like smart contracts and sidechains is attractive for long term investors.
However, all must realize that the true value proposition for the token is primarily monetary in nature, and not technological like most people think. Keeping an eye on this feature will keep us focused on the fundamentals that are driving the price action on a day to day basis, and allows us to stay focused on what really matters to us, the technicals. While conducting our Bitcoin market analysis research, we have established that transaction record-keeping via a blockchain and Proof of Work mining are at the heart of the technological advancements presented to the world by this network.
This is unprecedented in human history. For more detail on the specifics of these two pieces of technology, we return to the Wikipedia article on blockchain :. A novel solution accomplishes this without any trusted central authority: maintenance of the blockchain is performed by a network of communicating nodes running the dedicated software.
Transactions of the form payer X sends Y bitcoins to payee Z are broadcast to this network using readily available software applications. Network nodes can validate transactions, add them to their copy of the ledger, and then broadcast these ledger additions to other nodes.
The blockchain is a distributed database — to achieve independent verification of the chain of ownership of any and every amount, each network node stores its own copy of the blockchain. Approximately six times per hour, a new group of accepted transactions, a block, is created, added to the blockchain, and quickly published to all nodes.
This allows the software to determine when a particular bitcoin amount has been spent, which is necessary in order to prevent double-spending in an environment without central oversight. Whereas a conventional ledger records the transfers of actual bills or promissory notes that exist apart from it, the blockchain is the only place that bitcoins can be said to exist in the form of unspent outputs of transactions.
Next up is Proof of Work mining:. Miners keep the blockchain consistent, complete, and unalterable by repeatedly verifying and collecting newly broadcast transactions into a new group of transactions called a block.
Each block contains a cryptographic hash of the previous block, using the SHA hashing algorithm, which links it to the previous block thus giving the blockchain its name. In order to be accepted by the rest of the network, a new block must contain a so-called proof-of-work. The proof-of-work requires miners to find a number called a nonce, such that when the block content is hashed along with the nonce, the result is numerically smaller than the network's difficulty target.
This proof is easy for any node in the network to verify, but extremely time-consuming to generate, as for a secure cryptographic hash, miners must try many different nonce values usually the sequence of tested values is 0, 1, 2, 3, Every blocks approximately 14 days , the difficulty target is adjusted based on the network's recent performance, with the aim of keeping the average time between new blocks at ten minutes.
In this way, the system automatically adapts to the total amount of mining power on the network. Between 1 March and 1 March , the average number of nonces miners had to try before creating a new block increased from The proof-of-work system, alongside the chaining of blocks, makes modifications of the blockchain extremely hard, as an attacker must modify all subsequent blocks in order for the modifications of one block to be accepted.
As new blocks are mined all the time, the difficulty of modifying a block increases as time passes and the number of subsequent blocks also called confirmations of the given block increases. In essence, the blockchain and mining processes together act as a decentralized clearinghouse for a monetary transaction involving the token, making them censorship-resistant, global, inexpensive, and fast.
In our opinion, this is disruptive and potentially revolutionary, enough so that we felt as though it deserved full-time financial market coverage hence BullBear Analytics ' creation!
In our Bitcoin market analysis, we have seen that this coin is still by far the most widely traded and most liquid cryptocurrency in existence.
Altcoin exchanges use it as a reference currency for almost all trading pairs, and there are many fiat-to-bitcoin exchanges and wallets around the globe. It is considered the on-ramp into the crypto economy and conversely is considered an exit point for fiat currencies.
Some of the biggest exchanges are listed below, Coinbase and BitStamp, but there are numerous other places to trade it if these are unavailable in your area. Both scalp trades and swing trades off of local and regional highs and lows can be profitable for those with agility and objectivity, while longer-term traders will find the slower action relative to altcoins welcoming.
BBA has been covering Bitcoin since it began having a market price in and has executed on many highly advantageous setups on both the long and the short side over the past few years so our familiarity with this coin and its markets is truly unmatched.
The aforementioned trade setups have been and continue to be determined almost entirely via BBA's proprietary technical analysis of the charts, although we do take a fundamentally bullish longer-term view of this particular market. We believe that taking both a broad survey of the trading landscape, as well as a detailed look at each perspective individually is the only way to get a clear picture of what is going on in the market.
Below we will take a quick look at some of the more basic tools BBA uses to evaluate the Bitcoin markets on a day to day basis. A market chart simply tracks price movements over a specified period of time. Below is an example of the most common type of financial chart, the candlestick chart. Along the X-axis is the timeframe and along the Y-axis is the price of the security.
The very top and bottom of the line extending through each candlestick are the highs and lows for the given time period, and the body of the candlestick is where prices opened and closed during that time period.
There are many more types of charts that we will get into in future educational material such as Renko, Kagi, and point and figure charts, but we have just enough to move forward for now.
There are a theoretically infinite amount of potential timeframes TF's we could analyze for any given market, however there are some common ones that a majority of market participants and technicians use for their analysis: the monthly, weekly, daily, 4-hour min , 2-hour min , 1-hour min , 30 minute, and the 15 minute charts. We occasionally use the 1 and 5-minute charts when markets are moving fast, however during normal market conditions they provide too many false signals to make them truly effective.
To give you a better idea of how much of an impact these timeframes can have on how we view the market we will be showing a series of charts, all of Bitcoin, in which we will describe what is occurring in each one. First, let's look at the shorter term as this is usually where most new traders and investors begin hint: do the opposite! We always approach the market from the top-down, meaning we start from the highest TF and work down to the lowest.
In a vacuum, this security looks like it is most certainly heading lower, however, lets back up a step and look at a slightly longer timeframe. From this perspective, the market appears to be in a bull market , whereas on the hour chart above we were most certainly in a bear market. What a difference an adjustment to timeframe can make!
Let's zoom out, even more, to see what happens when we look at price action in its entirety. Wait, what is going on here? Well, if we step back to this longer-term view we can see that in fact, the market was in a trendless consolidation since becoming a liquid asset back in , and it remains so today despite bouts of upside and downside volatility.
One of the most basic, but perhaps most important, tools that technicians utilize are lines of support, resistance, and trend. These are important because they give us reference points to key off of as we trek through these frontier markets. Support levels lines are prices at which there should be a floor underneath the market due to buyers clustering around historically significant levels. Resistance refers to price levels at which there should be a ceiling on the market as sellers tend to cluster around historical levels above the current market price.
When we refer to trend, we are simply talking the direction in which the market is heading over a specific timeframe think back to our discussion on Timeframe. The market can either be moving from the lower left to the upper right on the chart bullish , from the upper left to the lower right bearish , or within a range between support and resistance levels.
One more thing to discuss is the idea of a breakout or a breakdown, depending on directionality. A breakout typically refers to a situation in which prices move above a well-known resistance level thus having the effect of accelerating the move higher.