{"id":383341,"date":"2019-05-23T01:01:06","date_gmt":"2019-05-23T01:01:06","guid":{"rendered":"https:\/\/ktsl888.com\/?p=383341"},"modified":"2019-05-22T17:15:34","modified_gmt":"2019-05-22T17:15:34","slug":"log-scale-monthly-bitcoin-price-chart-suggests-bear-market-was-an-uptrend-pullback","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/log-scale-monthly-bitcoin-price-chart-suggests-bear-market-was-an-uptrend-pullback\/","title":{"rendered":"Log Scale Monthly Bitcoin Price Chart Suggests Bear Market Was an Uptrend Pullback"},"content":{"rendered":"<p><a href=\"\/tag\/bitcoin-price\" rel=\"nofollow\">Bitcoin price<\/a> has recently found the bottom of its bear cycle, and has since shown a strong reversal back into a bull market that has taken many by surprise as to how much the price of the first ever cryptocurrency has risen in such a short time following what will go down in history books as the longest bear market on record.<\/p>\n<p>One reason for such a fast and powerful rebound into bullish price action, according to the log scale monthly Bitcoin price chart, is because the entire bear market was nothing more than a \u201cpullback in an uptrend\u201d and much needed consolidation before the digital asset could resume its parabolic climb.<\/p>\n<h2>Bitcoin Bear Market Never Happened, Healthy Pullback in Bullish Uptrend<\/h2>\n<p>Bitcoin price trajectory is often described as parabolic. During the height of the 2017 bull run, the price of the leading crypto by market cap went media-fueled parabolic tear that took the price of the asset to its all-time high of $20,000.<\/p>\n<p>After that parabolic ascent was broken, an 85% decline followed, but as soon as the target was hit, <a href=\"\/tag\/bitcoin\" rel=\"nofollow\">Bitcoin<\/a> was back off to the races, ready to restart a new bull run. The moment bearish sell pressure waned, Bitcoin again went parabolic, taking the price of the cryptocurrency from $4,200 to a recent high of nearly $8,400.<\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading |<a href=\"https:\/\/ktsl888.com\/2019\/05\/21\/bitcoin-price-chart-technical-indicator-gives-5th-ever-parabolic-signal\/\"> Crypto Technical Indicator Gives 5th Ever Parabolic Signal<\/a><\/strong><\/em><\/p>\n<p>Price action suggests more upside movement is ahead, but how fast the crypto asset has risen from the depths of the bear market has left most investors in shock and disbelief. But the fast resumption of bullish momentum could suggest more is at play.<\/p>\n<p>Front-running the upcoming halving is one theory, as is an increase in buying over US and China trade war fears. However, it could be explained by looking at monthly Bitcoin price charts on the log scale, which according to crypto trader <a href=\"https:\/\/twitter.com\/SeekingDusan\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">Desperately Seeking Dusan<\/a>, shows that Bitcoin has never left an uptrend, and instead is simply experiencing consolidation before another movement upward.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">All a matter of perspective&#8230; if we look at this log monthly chart, it&#39;s simply been a pullback in an uptrend&#8230; on a daily basis, some consolidation was needed, nothing can go parabolic without stopping (or crashing badly again which is worse) <a href=\"https:\/\/t.co\/dIOjRS883P\" rel=\"nofollow\">pic.twitter.com\/dIOjRS883P<\/a><\/p>\n<p>&mdash; Desperately Seeking Dusan \ud83d\udc07 (@SeekingDusan) <a href=\"https:\/\/twitter.com\/SeekingDusan\/status\/12722688?ref_src=twsrc%5Etfw\" rel=\"nofollow\">May 22, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The trader adds that \u201cnothing can go parabolic without stopping\u201d or \u201ccrashing badly,\u201d which Bitcoin in fact did in early 2018. Now that the asset has experienced healthy consolidation, the upward trajectory is expected to resume, taking the price of the digital asset to a new all-time high in the coming months.<\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/ktsl888.com\/2019\/02\/22\/crypto-bitcoin-price-btc-macd\/\">Bitcoin Price (BTC) Still In Bull Trend According to MACD, Accumulate During \u201cCorrection\u201d<\/a><\/strong><\/em><\/p>\n<p>This isn\u2019t the first time a crypto analyst has called the brutal bear market of 2018 nothing more than a \u201ccorrection\u201d in a bull trend. Long-term chartist Dave the Wave claims that the MACD never fell below the zero line, suggesting <a href=\"https:\/\/ktsl888.com\/2019\/02\/22\/crypto-bitcoin-price-btc-macd\/\">a dip into bear territory was never achieved<\/a>.<\/p>\n<p>As Desperately Seeking Dusan points out, it\u2019s \u201call a matter of perspective.\u201d When looking at Bitcoin, it\u2019s wise to look at the long-term potential of the asset, which could eventually reach a value of $100,000 to millions in the future.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price has recently found the bottom of its bear cycle, and has since shown a strong reversal back into a bull market that has taken many by surprise as to how much the price of the first ever cryptocurrency has risen in such a short time following what will go down in history books as the longest bear market on record. One reason for such a fast and powerful rebound into bullish price action, according to the log scale monthly Bitcoin price chart, is because the entire bear market was nothing more than a \u201cpullback in an uptrend\u201d and much needed consolidation before the digital asset could resume its parabolic climb. Bitcoin Bear Market Never Happened, Healthy Pullback in Bullish Uptrend Bitcoin price trajectory is often described as parabolic. During the height of the 2017 bull run, the price of the leading crypto by market cap went media-fueled parabolic tear that took the price of the asset to its all-time high of $20,000. After that parabolic ascent was broken, an 85% decline followed, but as soon as the target was hit, Bitcoin was back off to the races, ready to restart a new bull run. The moment bearish sell pressure waned, Bitcoin again went parabolic, taking the price of the cryptocurrency from $4,200 to a recent high of nearly $8,400. Related Reading | Crypto Technical Indicator Gives 5th Ever Parabolic Signal Price action suggests more upside movement is ahead, but how fast the crypto asset has risen from the depths of the bear market has left most investors in shock and disbelief. But the fast resumption of bullish momentum could suggest more is at play. Front-running the upcoming halving is one theory, as is an increase in buying over US and China trade war fears. However, it could be explained by looking at monthly Bitcoin price charts on the log scale, which according to crypto trader Desperately Seeking Dusan, shows that Bitcoin has never left an uptrend, and instead is simply experiencing consolidation before another movement upward. All a matter of perspective&#8230; if we look at this log monthly chart, it&#39;s simply been a pullback in an uptrend&#8230; on a daily basis, some consolidation was needed, nothing can go parabolic without stopping (or crashing badly again which is worse) pic.twitter.com\/dIOjRS883P &mdash; Desperately Seeking Dusan \ud83d\udc07 (@SeekingDusan) May 22, 2019 The trader adds that \u201cnothing can go parabolic without stopping\u201d or \u201ccrashing badly,\u201d which Bitcoin in fact did in early 2018. Now that the asset has experienced healthy consolidation, the upward trajectory is expected to resume, taking the price of the digital asset to a new all-time high in the coming months. Related Reading | Bitcoin Price (BTC) Still In Bull Trend According to MACD, Accumulate During \u201cCorrection\u201d This isn\u2019t the first time a crypto analyst has called the brutal bear market of 2018 nothing more than a \u201ccorrection\u201d in a bull trend. Long-term chartist Dave the Wave claims that the MACD never fell below the zero line, suggesting a dip into bear territory was never achieved. As Desperately Seeking Dusan points out, it\u2019s \u201call a matter of perspective.\u201d When looking at Bitcoin, it\u2019s wise to look at the long-term potential of the asset, which could eventually reach a value of $100,000 to millions in the future.<\/p>\n","protected":false},"author":517,"featured_media":383375,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3],"tags":[5687,428,679,12672,40970],"class_list":["post-383341","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-bear-market","tag-bitcoin","tag-bitcoin-price","tag-bull-market","tag-log-scale"],"acf":[],"yoast_head":"\n<title>Log Scale Monthly Bitcoin Price Chart Suggests Bear Market Was an Uptrend Pullback<\/title>\n<meta name=\"description\" content=\"Bitcoin price has recently found the bottom of its bear cycle, and has since shown a strong reversal back into a bull market that has taken many by\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ktsl888.com\/news\/log-scale-monthly-bitcoin-price-chart-suggests-bear-market-was-an-uptrend-pullback\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Log Scale Monthly Bitcoin Price Chart Suggests Bear Market Was an Uptrend Pullback\" \/>\n<meta property=\"og:description\" content=\"Bitcoin price has recently found the bottom of its bear cycle, and has since shown a strong reversal back into a bull market that has taken many by\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ktsl888.com\/news\/log-scale-monthly-bitcoin-price-chart-suggests-bear-market-was-an-uptrend-pullback\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2019-05-23T01:01:06+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-05-22T17:15:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2019\/05\/bitcoin-price-crypto-log-scale-chart-shutterstock_717621892.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"5400\" \/>\n\t<meta property=\"og:image:height\" content=\"3600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tony &quot;El Toro&quot; 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As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market. A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony\u2019s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements. Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \\\"The Bull,\\\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \\\"The Bull\\\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. 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