2020 is the year of Bitcoin to start the Bullish trend

[ayatoslaw 858]

Starting at the end of July then the price of bitcoin rose to this day (if based on a weekly time frame), as an investor or crypto holder this is a sign that harvest time is coming, but even so there are still many who ask whether the bullish trend has really started?
before answering that, let's look at the chart below.

 

If you look at the price of bitcoin based on the history of the annual bitcoin chart, August will be the first sign for bitcoin to start its bullish trend. As you know in May bitcoin has started a Halving which indicates that the prize for miners will be reduced by half, usually after the Halving occurs within a few months the price of bitcoin will increase, and it always happens every 4 years.

The second sign, if based on the annual chart, then there is a possibility that the end of the year bitcoin price will go to the previous peak price, such as the end of 2016 bitcoin price rose to its previous peak price (bullish in 2013), and if this annual history repeats itself this year, then I'm sure you will know where the price of bitcoin is at the end of 2020.
The third sign, if the candle is above the red line and the bitcoin chart continues to rise, then the possibility of a bull has started. because charts in large time frame always provide positive confirmation in every movement of a trend.

 

Note:
This is just my simple analysis based on annual charts, there are still many ways to analyze bitcoin charts, so always believe in your own analysis, and just make other people's analysis as a reference only, and the rest your decisions are based on your own analysis.

Edited May 24, 2021 by ayatoslaw
typo

[Babubu609 0]

6 hours ago, ayatoslaw said:

This is just my simple analysis based on annual charts, there are still many ways to analyze bitcoin charts, so always believe in your own analysis, and just make other people's analysis as a reference only, and the rest your decisions are based on your own analysis.

Thank you sir for such an excellent analysis although everyone has his own way to analyze his bitcoin charts. I have observed and keep making a research to know the appropriate date we should expect the  bullish trend. Your own analysis is also a good analysis to make use of it and I will still look for more opinions of some other experts to get some experience about how the trends move and also know when is the best time we should sell our hold coins. The 3 signs I understood clearly and I will still continue to read the chart time to time to see the changes that will occur before the end of this month.

Edited August 17, 2020 by Babubu609

[kyoukage01 3181]

The COVID-19 pandemic certainly played a part in the slow rise in BTC. Despite a rocky start during the early quarter this year (2020), where BTC plummeted to around ~$4,000 at some point, it eventually recovered, with some people took opportunity as investors bought them cheap taking the upcoming halving into consideration. Now with the global economy in in a slump in most places, people are looking for hedges, and cryptocurrencies are being viewed now as one of those, contributing to increased demand and a steady rise in BTC prices as a result.

 

Still, this is not the time for investors to be too complacent. As the current disease pandemic has demonstrated, any drastic events outside the cryptocurrency market and the global financial system as a whole can shake the trading market to its core. Let's just hope there won't be any more of those this year.

 

The one thing I may like about the current trend is that the rise in BTC price is more gradual compared to what happened after the second BTC halving (2017 bullrun). The gradual rise in BTC price can be inferred as a sign that the current potential bullrun is not just based on a hype like the previous major bullrun some experts have analyzed.

 

Edited August 18, 2020 by kyoukage01

[Babubu609 0]

4 hours ago, kyoukage01 said:

The gradual rise in BTC price can be inferred as a sign that the current potential bullrun is not just based on a hype like the previous major bullrun some experts have analyzed.

Thanks for your analysis BTC us rising gradually I agree with that and hope it continues rising sometimes it decreases unexpectedly. But what I am willing to know here is do you think we expect a peak price of about $20k in this year as in 2016.

22 hours ago, BTC Future said:

The chart didn't turn bearish at all and it seems that if we zoom out the chart it is indeed the start of a bull market.

I will like to know more on how to study the Bitcoin chart although I knew a little about the trend movement and right hear you and other colleagues @kyoukage01 had explained a bit of the flow of the price and to what makes it volatile. Can you share me some easy tips to know how to study the chart?🙏

[kyoukage01 3181]

On 8/18/2020 at 4:14 PM, Babubu609 said:

But what I am willing to know here is do you think we expect a peak price of about $20k in this year as in 2016.

I'll try to answer, but I am not an expert so you should take this comment with a grain of salt.

 

I was expecting BTC to reach only around $12,000 this year early on (link) but now BTC has exceeded my expectation. If the current trend continues, it will probably reach the $15,000 resistance somewhere late this year. But I think the peak price of $20,000 would be too optimistic, around $16,000 - $17,000 would be a better estimate, taking into account the period of resistances.

 

There is also something that bothers me. BTC prices sank down a bit during December of last two years ago, 2018 and 2019 (the chart above also hints at this). Our economic situation today may be different than those years, but still this should be something we should watch out for. If what happened the last two years ago gets repeated again, then there will be a dampener to BTC price increase.

 

Edited August 20, 2020 by kyoukage01

[Babubu609 0]

5 hours ago, kyoukage01 said:

but I am not an expert so you should take this comment with a grain of salt.

 

Well I don't think I can agree with a little of that😊. All I know is that when someone shows he knows all  he knew nothing but those that knows it pretends to know nothing. Just like what one philosopher said I can recall his name now '' A wise man never knows all only fools knows everything"" and yes what he said is right.

5 hours ago, kyoukage01 said:

was expecting BTC to reach only around $12,000 this year

I think some days back the price touches $12k and suddenly decreases back to $11k and to my observation the Bitcoin is struggling to maintain it stability at $12k so that it takes the next move by increasing.

5 hours ago, kyoukage01 said:

But I think the peak price of $20,000 would be too optimistic, around $16,000 - $17,000 would be a better estimate, taking into account the period of resistances.

I can agree with you all my thoughts was it may be possible we should have an increase in this year more than the previous years back in 2016

5 hours ago, kyoukage01 said:

Our economic situation today may be different than those years,

Yea Today can never be the same as yesterday we always expect more advancement were something new keeps coming.

 

 

Thank you🙏 for your response happy to meet a nice friend right here @kyoukage01

[Yomose 3704]

2 hours ago, Babubu609 said:

I can agree with you all my thoughts was it may be possible we should have an increase in this year more than the previous years back in 2016

Very possible this year could be bullish than 2016, the halving this year is even earlier in months, also 2017 was the bullish period for 2016 halving. But, let us see how things goes around. 

But I still suspect no year can ever be like 2013 and 2017 in bitcoin price increase history. 

[Raqeebzy 6456]

On 8/17/2020 at 1:48 AM, ayatoslaw said:

......

I have always say this, good thing you noticed. The effect of halving is not always as immediate as people looks it to be, at least historically proven. The bullish trend seems to be several months after the halving (2012 and 2016) and I believe irrespective of the pandemic situation, it was meant to be. 

Good analysis, I commend you for this. I predicted almost the same in my previous posts but with a little touch of doubt but I think time will tell.

[Babubu609 0]

6 hours ago, Yomose said:

But I still suspect no year can ever be like 2013 and 2017 in bitcoin price increase history. 

Well mate cryptoworld cannot be predicted and even when predicted not necessarily it should be exactly as we hope it to be but few comes to reality. With great hope there will be good bullish trend than 2016.

[MuhammadSh 3067]

There is always an important question in my mind.. would the history repeat itself when it's related to the cryptocurrencies world especially when we talk about the king of all cryptocurrencies!! But after the last rising of bitcoin's price in August as you mentioned in this informative topic, i can say that yes the history will repeat itself again and again! there are also many experts said that studying the history of any cryptocurrency and the changes of its prices is really important before analysing..

Also i am wondering if the history repeats itself in 2020, would it do it again in 2024 "after the next halving event" or not..?

So let's wait till the end of this year and see what would happen !

[Yomose 3704]

On 8/19/2020 at 4:30 PM, Babubu609 said:

Well mate cryptoworld cannot be predicted and even when predicted not necessarily it should be exactly as we hope it to be but few comes to reality. With great hope there will be good bullish trend than 2016.

I do not think so, in 2013, the bullish rally was 33x while in 2017, the bullish trend was 11x. As the marketcap is increasing, this makes it more difficult for bullish trend. Also mildly because of supply. 

[Babubu609 0]

On 8/19/2020 at 10:41 PM, MuhammadSh said:

Also i am wondering if the history repeats itself in 2020, would it do it again in 2024 "after the next halving event" or not..?

We can't really predict what will happen 4years coming lets us focuse and see what this year predictions will come up with at the end.

1 hour ago, Yomose said:

I do not think so, in 2013, the bullish rally was 33x while in 2017, the bullish trend was 11x. As the marketcap is increasing, this makes it more difficult for bullish trend. Also mildly because of supply. 

So you mean this year bullish trend will not reach the peak of that of 2016? Well I may partially agree with you since the price is still wagging at 12k dollars it's will be difficult of it teaches 20k dollar before year end.

[Yomose 3704]

On 8/21/2020 at 10:30 AM, Babubu609 said:

We can't really predict what will happen 4years coming lets us focuse and see what this year predictions will come up with at the end.

So you mean this year bullish trend will not reach the peak of that of 2016? Well I may partially agree with you since the price is still wagging at 12k dollars it's will be difficult of it teaches 20k dollar before year end.

I am not talking about the price alone, I am relating it to the bitcoin marketcap itself which is directly proportional to bitcoin price. There can be bullish trend but not to annoy extent of 2016/2017. If such will happen, bitcoin marketcap will increase to over 1 trillion dollars or more. 

[rekter 8129]

On 8/21/2020 at 10:41 AM, Yomose said:

I do not think so, in 2013, the bullish rally was 33x while in 2017, the bullish trend was 11x. As the marketcap is increasing, this makes it more difficult for bullish trend. Also mildly because of supply. 

Correct. But i think there will be more money spread across with lots of altcoins then last time. And because most of them are paired with btc, those people will be investing to btc too when ever trading their alts.

[Raqeebzy 6456]

On 8/21/2020 at 8:41 AM, Yomose said:

I do not think so, in 2013, the bullish rally was 33x while in 2017, the bullish trend was 11x. As the marketcap is increasing, this makes it more difficult for bullish trend. Also mildly because of supply. 

Smart idea. But I do not think the supply plays a role in this, in fact, decreasing supply after each halving has been playing a major role in the bullish trend over the years. I still reaching the ATH of 2017 achievable this year (i am not saying it is certain) without reaching a trillion dollars market capitalisation.

[Yomose 3704]

3 minutes ago, Raqeebzy said:

Smart idea. But I do not think the supply plays a role in this, in fact, decreasing supply after each halving has been playing a major role in the bullish trend over the years. I still reaching the ATH of 2017 achievable this year (i am not saying it is certain) without reaching a trillion dollars market capitalisation.

This is another bullish thread that you are now taking about, it is very possible bitcoin reach all time high this year but know that it may also not be possible. But, I am also just positive about this that at least all time high will still be achieved. If not this year, it could be next year. 

[Whited35 15285]

Impressive analysis based on chart and historical data for Bitcoin. I have also made a note by performing some researches  to predict the next move of Bitcoin.So many indicators are delivering the green sign for possible impressive bullish trend in the cryptocurrency markets in 2020. @ayatoslaw I might better create a sequential topic for it with some important links😊. 

[Calvinpriva 17296]

Interesting! You have analyze Bitcoin price chart very well and i also have a strong faith about what you said. Trading view indicators are suggesting to buy bitcoins more than selling! When i compare your analysis and some indicators i believe bitcoin will surprise us at the end of the year. Though sometimes price can be different with our predictions, but i believe it according to my little research.

[kyoukage01 3181]

@Babubu609 A bit of an update: BTC prices have started to crash.

 

It looks like we currently have a dampener on the BTC bullish trend. We still have no idea whether this is temporary or long-term. This shows that predictions are not absolute if sudden negative events are not accounted for.

On 8/17/2020 at 8:48 AM, ayatoslaw said:

Note:
This is just my simple analysis based on annual charts, there are still many ways to analyze bitcoin charts, so always believe in your own analysis, and just make other people's analysis as a reference only, and the rest your decisions are based on your own analysis.

Just like what OP has said. We still have to do our own analysis based on what is happening now and adjust accordingly.

 

[Babubu609 0]

12 hours ago, kyoukage01 said:

This shows that predictions are not absolute if sudden negative events are not accounted for.

I can also view presently from the Bitcoin chart a damper is taken place as the price of bitcoin is crashing  down to a peak of $10k so I don't know what could be the next step for the movements is it taking a bearish trend or is it at stage of taken a fast increase to hits $15k. For all Investors and traders as well as holder's we need to be careful not to make a huge lose. I may suggest exchanging our tokens to stable currency so that we can avoid the lose untill the price maintain a stable level to move forward.

[Yomose 3704]

On 8/19/2020 at 10:41 PM, MuhammadSh said:

There is always an important question in my mind.. would the history repeat itself

I will like you to know how price can work with market cap, no history will repeat itself. How can bitcoin now have q marketcap of over 1 trillion so that the history will increase itself in relationship to price trend. This is not possible. 

[AlexBerkut 51]

Yes, I believe that Bitcoin will grow strongly, but it will also fall very strong. Let's see what will happen on the second wave of coronavirus, of course there will be no global fall, but I do not exclude strong drawdowns

[Abdalrazig 1865]

Thank you very much for this great analysis, of course everyone has his own to analyze and predict the market movements, but it would be nice having another look or opinion on the market so we can improve.

[Cobijin 118]

I hope that your words are true, because there is a lot of confidence in bitcoin. But if there is a new bottom, one should invest in bitcoin because it is not about if it is going up, we all know the answer to that question, but the real one is WHEN. I am pretty sure that the moon is near us.

[1mstfcngz1 29]

The start year for the bull trend may be 2020, but the real boom is expected in late 2022. many analysts explained this with graphs. even BTC is expected to be $ 90k by these dates. Is it difficult ? Yes. is it impossible ? never!