Agree that market sentiment is good at the moment, but IMO it is nowhere near 2017 crazy bull run. 2020 halving also plays a vital role in this bullish sentiment. However, traders should be cautious because of tether-bitfinex scandal and stricter KYC/AML policy. We have seen the two biggest tumblers closed because of this issue.
Related to hashrate, I don't think it is a good indicator of price. It's like playing cat and mouse game.
After one and a half year of the bear market, it is about the time to rebound. *Not investment advice, only my opinion.
Topic: Bitcoin Fundamental Analysis May 2019: Fundamentals stronger than 2017 Surge (Read 138 times)
May 28, 2019, 01:53:18 AM
May 28, 2019, 01:43:22 AM
So as a result of your analysis then bitcoin would be way stronger this time,the bull run this year will have more price growth and may destroy previous ATH last 2017.Bitcoin will now create a new ATH and an history again after almost 2 years of agony in the market.
Seems to me that this is the main idea with the analysis above. And if it can be true, then we can and should expect bitcoin to go beyond the $20,000 (or almost, others might say) achieved in 2017. Well, we can determine that the market this time around is different and people in the market are more matured compared two years ago. In fact, this year, people can not anymore be easily swayed by FUDS and even some bad news are not taken into consideration. Maybe we have already learned the big lessons of the past and we are applying them today.
May 27, 2019, 07:07:07 PM
It just took bitcoins just 17 days to go from $10.000 to $18.000 in the bull run in December 2017, now the fundamentals are much better, we see a lot of big investors and use cases for bitcoins, it's easier to buy and sell bitcoins and the lightning network have made it cheaper and faster to send bitcoins.
The future for bitcoins looks bright now.
The future for bitcoins looks bright now.
May 27, 2019, 07:30:03 AM
The price of bitcoin underwent a prolonged depreciation in 2018 declining 73% for the year. The price action so far this year has been entirely different with prices already after increasing over 100%.
This is good for newbies to see, trace and study bitcoin from last two years at least.
The experience of last year has shown bitcoin as a highly volatile and unpredictable digital currency. Now we are on a bull that seem to be going almost in the same volatile direction in 2017 .
May 27, 2019, 06:43:17 AM
So far the price action of Bitcoin are really nice since we already down to $3k level then the price spike to $8k and continue to dominance as your analysis we can see Bitcoin price higher from their all time high well this is good to happen since the 2020 halving will go next years and most of us hoping for good price.
May 27, 2019, 06:30:48 AM
So as a result of your analysis then bitcoin would be way stronger this time,the bull run this year will have more price growth and may destroy previous ATH last 2017.Bitcoin will now create a new ATH and an history again after almost 2 years of agony in the market.
May 27, 2019, 06:16:45 AM
Quick Take;
1. Data demonstrates that the hash rate and the distribution of the hash rate on the Bitcoin network have significantly improved since the time when all-time highs of bitcoin price were observed.
2. The on-chain activity of the bitcoin network is approaching record levels while fees remain significantly below levels seen during the previous peak period.
3. Developments in Bitcoin demonstrate it moving towards being a more scalable and efficient network
The price of bitcoin underwent a prolonged depreciation in 2018 declining 73% for the year. The price action so far this year has been entirely different with prices already after increasing over 100%.
Read the complete fundamental analysis of Bitcoin May 2019.
1. Data demonstrates that the hash rate and the distribution of the hash rate on the Bitcoin network have significantly improved since the time when all-time highs of bitcoin price were observed.
2. The on-chain activity of the bitcoin network is approaching record levels while fees remain significantly below levels seen during the previous peak period.
3. Developments in Bitcoin demonstrate it moving towards being a more scalable and efficient network
The price of bitcoin underwent a prolonged depreciation in 2018 declining 73% for the year. The price action so far this year has been entirely different with prices already after increasing over 100%.
Read the complete fundamental analysis of Bitcoin May 2019.
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