Bitcoin

Bitcoin Price Monthly Moving Average Growth Hints At Where Crypto Market Cycle Is At

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While a recent poll shows that the majority of crypto investors have never experienced a transition from a bear market into a bull run, it’s clear that’s what’s transpiring across the crypto market in recent weeks, as the price of Bitcoin continues to climb upward and away from the bottom set back in December 2018.

Now that Bitcoin price is rising once again following a full year of downtrend, the asset’s 200-week moving average – an important long-term trend strength indicator – is also again growing at a rate of 5% month over month. The growth rate also could help analysts determine where the crypto market is in terms of its transition from bear to bull.

Bitcoin’s 200-Week Moving Average Growth Suggests We Are Close to Crypto Bull Run

The 200-week moving average is among the most important indicators for any trader or investor to watch, in any financial market and not just the crypto industry. If the asset’s price trades above or below the average says a lot about the strength of a long-term trend.

In Bitcoin, the vital indicator acted as support at the lowest points of the bear market, was what eventually prevented Bitcoin price from falling lower, and acted as the fuel that rocketed Bitcoin into a new bull trend.

Related Reading | Next Bitcoin Bull Run Will Be First Cycle Supported By Established Financial Firms

At the time, crypto analysts had feared a break of the 200-week moving average would call into question Bitcoin’s longevity as a financial asset, as most investors would see this as a major threat to the digital gold’s long-term trend structure – something it may never bounce back from.

However, bounce it did, and since then Bitcoin’s 200-week moving average is back to growing at a rate of 5% each month. In a chart shared by prominent crypto analyst “100TrillionUSD” the moving average growth rate is depicted as varying shades of color.

As can be clearly seen, the chart started to turn into a teal or turquoise color, with a touch of light green behind it. Prior to this, Bitcoin’s moving average was at its lowest growth rate of 2% per month displayed in the darkest shade of blue. It’s worth noting that Bitcoin’s 200-week moving average has never once declined throughout the course of its history.

Comparing the previous bear to bull transition coming out of the last bear market cycle into the bull run that captured the mainstream public’s attention in 2017, the color-coded 200-week moving average growth rate appears to suggest that the price action the crypto market is currently experiencing, puts the market cycle somewhere closer to the start of 2017 – seemingly bypassing all of 2016 show-build of bullish momentum.

Related Reading | Bitcoin Returns 144,912% in 7 Years, Investors Always Wish They Bought More 

Most crypto analysts had been calling for increasingly longer market cycles in Bitcoin, but given the recent price action and corresponding growth in the 200-week moving average, Bitcoin price might be close to going on a full blown bull run, causing a much shorter market cycle from bear market low to the peak of the next hype cycle – whenever that may be.

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There are no positive vibes expected for IOTA yet. Already, there are so many altcoins which are continuously losing their worth day after day to the erratic and turbulent BTC. The recent growth of BTC and other cryptocurrencies has not really affected the growth of altcoins like IOTA. Despite bringing new updates, IOTA is still not able to hold up its value and is continuously plunging down at a steady pace. This is really ruffling, so far its sustenance in this turmoil market is concerned.

Current statistics from IOTA Chart:

  • Price in USD: 0.4325 USD
  • Price in BTC: 0.00004729 BTC (05:37 UTC)
  • Circulating supply: 2,779,530,283 MIOTA
  • Market rank: 16
  • Market cap: 1,203,149,464 USD

IOTA to USD Price Predictions:

IOTA Price Chart -...
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Blockchain Experts Slam Facebook’s Libra Cryptocurrency

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Five Korean Crypto Exchanges Revise Their Terms of Service

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Five South Korean-based cryptocurrency exchanges have opted to revise their terms of service in favor of their users as requested by the country’s Fair Trade Commission more than a year ago. In the recent revisions, the five exchanges will now take liability for any losses resulting from exchange hacks even in the cases where it is not proved to be a failure of their systems.

The news was shared by the local news media, the Yonhap News Agency on Monday, June 17th stating that:

“Five cryptocurrency exchanges have changed their terms of service in a way that they can be liable for problems caused by potential cyber-attacks or system malfunctions, even if operators are not…



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Litecoin [LTC] Foundation Partners with Bibox and Ternio to Offer a Physical Debit Card

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Litecoin Foundation, the non-profit foundation behind one of the leading altcoins by market capitalization Litecoin has partnered with Bibox Exchange as Ternio, a blockchain company to enable cryptocurrency payments through Ternio’s debit card. Ternio already provides its users a debit card called The BlockCard, which is a physical debit card.

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Monero Market Capitalization Reaches $1.66 Billion (XMR)

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Bitcoin

Bitcoin Price Will ‘Easily’ Blast Beyond All-Time High Soon: Wall Street Analyst

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By CCN Markets: Speaking to CNBC’s Futures Now, Fundstrat co-founder and head of research Thomas Lee said that considering the momentum of bitcoin, the dominant crypto asset is likely to take out its all-time high very soon.

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Lee’s optimistic projection of bitcoin comes after the asset recorded a 113 percent increase in value since April within a two-month span from $4,310 to $9,200.

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