{"id":402351,"date":"2019-10-25T18:00:25","date_gmt":"2019-10-25T18:00:25","guid":{"rendered":"https:\/\/ktsl888.com\/?p=402351"},"modified":"2019-10-25T16:35:32","modified_gmt":"2019-10-25T16:35:32","slug":"bitcoins-secular-bull-market-may-have-ended-long-term-bear-incoming","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoins-secular-bull-market-may-have-ended-long-term-bear-incoming\/","title":{"rendered":"Bitcoin\u2019s Secular Bull Market May Have Ended, Long Term Bear Incoming?"},"content":{"rendered":"
As soon as Bitcoin<\/a> broke up and out of the trading range where the current bottom was set, the cryptocurrency community was certain it spelled the end to the bear market, and that Bitcoin was entering a new bull run \u2013 one that would take it to its next all-time high at prices predicted to be as high as $100,000.<\/span><\/p>\n But the leading crypto asset by market cap failed to set a new high, something that the asset has never failed to do in the past, suggesting that the ongoing secular bull market Bitcoin has been in for some time, may finally be ending, and a longer bear market may be ahead.<\/span><\/p>\n In April 2019, Bitcoin<\/a> broke up and out of a consolidation range and accumulation phase near lows set in late 2018. Once that occurred, and FOMO set in, the price of Bitcoin quickly skyrocketed to $14,000.<\/span><\/p>\n Related Reading | Bitcoin Price En Route to Descending Triangle Target of $5,000\u00a0<\/a><\/strong><\/em><\/p>\n Once Bitcoin reached resistance at $14,000, it was rejected, and the asset began consolidating under that resistance, forming a descending triangle that ultimately broke down, potentially changing the trend back into a bear market.<\/span><\/p>\n The market and its participants were convinced that Bitcoin has started its next bull run, however, the first-ever cryptocurrency \u2013 for the first time in its existence \u2013 failed to set a new high during a bull rally.<\/span><\/p>\n This brings up a serious concern. There is a possibility that the bull market has ended and it is now slowly shifting into a bear one.<\/p>\n Current price action has never happened in previous bitcoin history. Ever. Throw the fractal memes out the window and maintain an objective view<\/p>\n — the dude (@cryptodude999) October 25, 2019<\/a><\/p><\/blockquote>\nCrypto Analyst: Bull Market Failure Means Bitcoin Could Enter First True Bear Market<\/h2>\n
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