Being a cryptocurrency investor must have a high confidence against the decisions that have been made, surely with the knowledge he has before intending to invest. And also, an investor must have an attitude and dare to take quick decisions, if only thinking about a price to decide he should buy because it's the best time, I don't think he has really studied cryptocurrency properly.
Indeed, the beginning of the bull run is the best time to start an investment so as the risk will be faced is a little, he simply focuses on the targets he has made before. However, to find out about this is the most difficult way I have found. Price changes cannot be assured of fundamentals or technicalities, but price changes move on their own without someone knowing. Based on these things waiting for the bull run come and you start buying it, I guess that is a useless way.
Topic: Bitcoin Price: Wait for Clear Bull Trend before Buying More Cryptocurrency (Read 401 times)
October 21, 2018, 02:38:47 AM
October 21, 2018, 02:23:28 AM
I agree with all the comments here. The point is that we think long-term. If you believe in bitcoin long-term, it doesn’t matter if you buy today and drops more. However, I think they are speaking to traders. If you are looking for short-term profits, it doesn’t make sense to buy now if you think it is going to go down.
Yes it really doesn't matter whether there are numerous pump and dumps if you are investing for a long term and current price doesn't matter, but most of the users in this forums are either traders or signature campaign hunters so it really matters for them.
For the ordinary holders like me, I think the bitcoin price is good to buy for the long term.
October 21, 2018, 01:54:13 AM
as an investor you always want to buy at the bottom not when the rise is already half way on its way. of course in bitcoin the rises are always big so there is a lot of time to get on board for example last year the bull run started and the price reached previous ATH and that was the sign to get in and since the rise was big (to $20k new ATH) there was a lot of time but the time to buy was when price was lower at the bottom near $800-$900. and now is the same. you want to accumulate at the bottom when price is stable at $6k not when it already rose up and you missed the cheapest possible price.
waiting for the bull run to start is the safest method of investing and that is only good for traders not investors meaning those who want to make profit in short term by buying and selling bitcoin constantly not just buy and hold and sell or spend in long term.
waiting for the bull run to start is the safest method of investing and that is only good for traders not investors meaning those who want to make profit in short term by buying and selling bitcoin constantly not just buy and hold and sell or spend in long term.
October 20, 2018, 02:27:12 PM
That remains simply their own very opinion,since as we all know that the market is unpredictable,most investors should actually favor the purchase of bitcoin right now that the price is fairly stable as a pump or bull run could be in the horizon(mere speculations though).
Why wait for improvements before purchasing the bitcoin,when you can actually buy and wait for improvements to be in line for huge profits.
What you should do in this market depends entirely on your strategy, for someone thinking on holding his bitcoin for the long term there is not much of a reason to wait for the price to get any better, this is a great moment to buy and a couple hundred dollars of difference are not very critical if you are planning to hold for years, but if you want to hold for only a few weeks or months then waiting seems like the right choice. Why wait for improvements before purchasing the bitcoin,when you can actually buy and wait for improvements to be in line for huge profits.
October 17, 2018, 04:11:17 AM
Fact is the clear buy signal has already been activated. It is clear to anyone paying attention that the bear market has ended. The price is scraping along the very strongly established bottom (which is exactly where you want to buy in!) as it transitions towards the start of the next bull market. Sure the bull market probably won't start for another let's say one to four months, but we're at the bottom now so this is when you want to get in. If you wait for the clear bull trend before you buy you'll be buying at $8500 instead of buying at $6400 now.
Nothing is certain yet and by transitioning, I hope you are not trying to say that based on the USDT pump that happened across board. The truth is that for most traders that are conservative enough, before anyone would want to start getting in at all, they will be looking at a break out first before even getting to buy into the market, and while some would even wait for some resistance level to be broken even if they would have to consider going long. It all depends on each individual and the way they see and trade their own strategy either as a trader or as an investor. October 17, 2018, 03:48:47 AM
I have given up on the idea of a bull market, because I have not seen any hope. Of course, the ETF may cause a revolution, but it is also far away, isn't it?
October 17, 2018, 02:53:41 AM
That is a very good advice and I think it will save of a lot of funds as the price's of bitcoin might still be going down. The technical indicators are not clear about the trend and that means we have to wait for fundamental or news before investing.
It depends on each individual and how they approach the market, some are usually conservative while some are aggressive, but the most important thing is to always have a plan when you are trying to trade a market as you can jeopardize a lot of things if you do not. For instance, I always tend to mix both being aggressive and conservative once in a while depending on the condition of the market and depending on the risk to reward ratio of where I am buying the market from. For now, $6000 - $6100 has been a very good support, and I can at least still keep taking advantage of those moves gradually until we get to see a final breakout.
October 16, 2018, 01:44:52 AM
I always love great research journalism. Thanks for that 
Dude both said not to buy bitcoin and also said it could reach $25k ? This is the same people that keeps up saying "always knew what the price would be here are the examples". Dudes make "it will go down" and "it will go up" estimates constantly and than after couple years of doing "both sides may happen" type of topics they return and find the correct ones and just make a page of how they "knew" the price would do and hide the ones that stated when they said the other ways as well.
You can literally make a page of how they never knew what the price would be as well because they always talk about the both possibilities.
Dude both said not to buy bitcoin and also said it could reach $25k ? This is the same people that keeps up saying "always knew what the price would be here are the examples". Dudes make "it will go down" and "it will go up" estimates constantly and than after couple years of doing "both sides may happen" type of topics they return and find the correct ones and just make a page of how they "knew" the price would do and hide the ones that stated when they said the other ways as well.
You can literally make a page of how they never knew what the price would be as well because they always talk about the both possibilities.
October 15, 2018, 04:03:03 PM
Fact is the clear buy signal has already been activated. It is clear to anyone paying attention that the bear market has ended.
It's a hard one to call because everyone here has a different opinion on when they believe the bear market is 'officially' over, and everyone's opinion is pretty valid in its own way as long as we haven't broken through multiple previous lower highs. Even if we climb up towards $8000-$9000 it's not a guarantee that we won't fall below $6000 again, or maybe even lower.
From my personal standpoint, we really have to smash through the psychologically important $10,000 barrier in a confident manner in order to talk about a potential end of the bear market. Breaking that level is important in so many ways, that it might even result in a pump towards $11,000-$12,000 shortly after.
October 15, 2018, 03:06:51 PM
Fact is the clear buy signal has already been activated. It is clear to anyone paying attention that the bear market has ended. The price is scraping along the very strongly established bottom (which is exactly where you want to buy in!) as it transitions towards the start of the next bull market. Sure the bull market probably won't start for another let's say one to four months, but we're at the bottom now so this is when you want to get in. If you wait for the clear bull trend before you buy you'll be buying at $8500 instead of buying at $6400 now.
October 15, 2018, 02:32:56 PM
That is a very good advice and I think it will save of a lot of funds as the price's of bitcoin might still be going down. The technical indicators are not clear about the trend and that means we have to wait for fundamental or news before investing. BITCOIN market seems to recover and I am also thinking that whale may be trying to push the price upward.
October 14, 2018, 08:03:50 AM
I agree with all the comments here. The point is that we think long-term. If you believe in bitcoin long-term, it doesn’t matter if you buy today and drops more. However, I think they are speaking to traders. If you are looking for short-term profits, it doesn’t make sense to buy now if you think it is going to go down.
Yes it really doesn't matter whether there are numerous pump and dumps if you are investing for a long term and current price doesn't matter, but most of the users in this forums are either traders or signature campaign hunters so it really matters for them.
October 14, 2018, 05:20:57 AM
But the strategy need to be buy right now and wait foe the bull run,right? Since we can't identify when the bull run begin.
People can buy now who are hoping that crypto currencies will be the future of currency system so for them the current price will be much beneficial but fot the traders then need to be more analytic.
Well, the thing is it all depends on how you have your plans sorted out when it comes to buying into the market. For instance, a lot of people who are going long without any strategy of being able to monitor the market, would obviously just stick with the idea of buying the dips, if it comes more, then you buy more.People can buy now who are hoping that crypto currencies will be the future of currency system so for them the current price will be much beneficial but fot the traders then need to be more analytic.
For seasoned traders however, we all know sideways movement is not a movement at all most especially when direction can be in two either ways which is up or bottom. For now, we just have to be patient and see the break out, if it is with a volume and the chances of bulls back into action actually, nonetheless, it depends on your level of risk actually and if you feel you can monitor trend, buy now, then no shit.
October 12, 2018, 03:00:54 PM
Wall Street strategy firm Fundstrat Global Advisors is among the mainstream financial industry’s biggest long-term cryptocurrency bulls. However, the firm is advising clients to hold off on buying more bitcoin — at least for right now.
Oh this is something unbelievable, let's see the following:
Fundstrat Global Advisors, LLC.
150 East 52nd St, 31st Floor
New York, NY 10022
Until here it's okay, my indignation begins here:
https://www.fundstrat.com/firm/team/
Thomas J. Lee, CFA
You remember Thomas J. Lee, right? Oh, if you do not remember, maybe this will make remember:
Wall Street’s Tom Lee Says Bitcoin Price to Hit $22K by Year’s End, ‘Can Reach $25K’
so why are they advising their customers not to buy bitcoin if they said: " Wall Street’s Tom Lee Says Bitcoin Price to Hit $22K by Year’s End, ‘Can Reach $25K’ "
October 12, 2018, 01:52:05 PM
That is actually one right thing to do than to be trying to pick the pieces while thinking you have picked the bottom but at the end of the day though, it all depends on each person's strategy.
Yes, it is a good thing to wait for a clear bull run, but the fact remains that a lot of the coins have actually ended up in their bottom at the moment and pretty much consolidating. It is a volatile market though and no one knows how well the market would hit the bottom further, but one thing actually at this point is that we have plenty easy buy for the altcoins. However, since we are talking bitcoin here, I would say being in a triangle and moving sideways, it is actually a very good step at this moment than rushing into the market which can be pretty risky.
Yes, it is a good thing to wait for a clear bull run, but the fact remains that a lot of the coins have actually ended up in their bottom at the moment and pretty much consolidating. It is a volatile market though and no one knows how well the market would hit the bottom further, but one thing actually at this point is that we have plenty easy buy for the altcoins. However, since we are talking bitcoin here, I would say being in a triangle and moving sideways, it is actually a very good step at this moment than rushing into the market which can be pretty risky.
October 12, 2018, 01:58:05 AM
That is exactly what people have always warned not to do so far.
"Buy low and sell high" is a real thing and if you wait for a trend to come first and buy afterwards you will be late. Remember those people that bought bitcoin at $20k ? Those people thought bitcoin was going so high that buying even at $20k levels would have been great. People that bought anything between $12-$20k levels ? They are all in a loss, why ?
Because they bought a trend price. Right now when the price is as low as it gets buying is a great thing, do not overbuy your position but definitely much better than buying when its going up.
"Buy low and sell high" is a real thing and if you wait for a trend to come first and buy afterwards you will be late. Remember those people that bought bitcoin at $20k ? Those people thought bitcoin was going so high that buying even at $20k levels would have been great. People that bought anything between $12-$20k levels ? They are all in a loss, why ?
Because they bought a trend price. Right now when the price is as low as it gets buying is a great thing, do not overbuy your position but definitely much better than buying when its going up.
October 11, 2018, 02:22:49 PM
I agree with all the comments here. The point is that we think long-term. If you believe in bitcoin long-term, it doesn’t matter if you buy today and drops more. However, I think they are speaking to traders. If you are looking for short-term profits, it doesn’t make sense to buy now if you think it is going to go down.
Yes it really doesn't matter whether there are numerous pump and dumps if you are investing for a long term and current price doesn't matter, but most of the users in this forums are either traders or signature campaign hunters so it really matters for them.
October 11, 2018, 02:22:01 PM
Bitcoin Price: Wait for Clear Bull Trend before Buying More Cryptocurrency
Scenarios:
1) Too much waiting for that clear bull trend might lead into being late when the expected bull run happened = regret
2) After some patience, a "clear bull trend" is now happening but people need to deal with the current price rate to buy. = regret
Bottom line:
If people understand the risks the moment they put money on buying cryptos, then buy based on their own analysis. Professional analysis by others are also bound to failed so have a strong stand about making decision.
Scenarios:
1) Too much waiting for that clear bull trend might lead into being late when the expected bull run happened = regret
2) After some patience, a "clear bull trend" is now happening but people need to deal with the current price rate to buy. = regret
Bottom line:
If people understand the risks the moment they put money on buying cryptos, then buy based on their own analysis. Professional analysis by others are also bound to failed so have a strong stand about making decision.
October 11, 2018, 01:06:39 PM
However, I think they are speaking to traders. If you are looking for short-term profits, it doesn’t make sense to buy now if you think it is going to go down.
Traders generally don't really mind the direction of a market, they just need the price to be volatile. If you think the price will go down, then open a short position, if you think it will go up, open a long position. If the price swings aren't severe enough for you, then you can choose to leverage your trades. In other words, there are plenty of opportunities to trade current market.
Funny thing about waiting for clear bull trends is that it is different for each person, which also depends on how well you understand this specific market. People should only care about when they are comfortable buying in, not about what others think is the right moment to enter. Most average coiners wait for the price to have gone up considerably before they even consider buying, which explains why so many of them have been trapped last year.
October 11, 2018, 12:16:07 PM
Bitcoin Price: Wait for Clear Bull Trend before Buying More Cryptocurrency
Wall Street strategy firm Fundstrat Global Advisors is among the mainstream financial industry’s biggest long-term cryptocurrency bulls. However, the firm is advising clients to hold off on buying more bitcoin — at least for right now.
Writing in a recent note to clients, Fundstrat technical strategist Robert Sluymer said that investors seeking to increase their bitcoin holdings should wait for the market to make a clear trend reversal.
“Investors should remain patient and wait for evidence of an improvement in ‘trend’ before increasing exposure,” wrote Sluymer in an excerpt of the note cited in MarketWatch. “A move above the September real and relative highs remains the key resistance/reversal level that will need to be exceeded to signal the early stages of a trend reversal.”
As CCN reported, the bitcoin price has seen record stability in recent days, with BTC’s daily trading range narrowing to levels not seen in more than 17 months and the coin’s price increasingly appearing tethered to $6,550. This decline in volatility correlated with a drop in trading volume, which analysts variously attributed to a decrease in sellers or a reduction in speculative buyers.
https://www.ccn.com/bitcoin-price-wait-for-clear-bull-trend-before-buying-more-cryptocurrency/
Wall Street strategy firm Fundstrat Global Advisors is among the mainstream financial industry’s biggest long-term cryptocurrency bulls. However, the firm is advising clients to hold off on buying more bitcoin — at least for right now.
Writing in a recent note to clients, Fundstrat technical strategist Robert Sluymer said that investors seeking to increase their bitcoin holdings should wait for the market to make a clear trend reversal.
“Investors should remain patient and wait for evidence of an improvement in ‘trend’ before increasing exposure,” wrote Sluymer in an excerpt of the note cited in MarketWatch. “A move above the September real and relative highs remains the key resistance/reversal level that will need to be exceeded to signal the early stages of a trend reversal.”
As CCN reported, the bitcoin price has seen record stability in recent days, with BTC’s daily trading range narrowing to levels not seen in more than 17 months and the coin’s price increasingly appearing tethered to $6,550. This decline in volatility correlated with a drop in trading volume, which analysts variously attributed to a decrease in sellers or a reduction in speculative buyers.
https://www.ccn.com/bitcoin-price-wait-for-clear-bull-trend-before-buying-more-cryptocurrency/
This news as noble as it might seems the firm is taking by advising people to not to invest at this time, I feel its surely not the right decision to take at this time because for me, I am looking at it in another light and this release connotes some meanings
1. How so they expect that the price of bitcoin should shoot up if they themselves are promoting the 'stay off at this time campaign'. It surely mean that they are also losing trust in the market itself. I have not seen a company operating in the stock market make a release to the public that its not the time to invest in the stock market even though its generally known that the peak of the stock market is still a far place to from where it is.
2. With this report that they are expecting the market to witness a bull means they are acknowledging that there is an artificial force that would propel that action that their clients can then hop in. These are insinuations that is expect to be made by people who don't have the right knowledge about the workings of the crypto market and by so doing, they tend to stay away.
October 11, 2018, 11:17:42 AM
Bitcoin Price: Wait for Clear Bull Trend before Buying More Cryptocurrency
Wall Street strategy firm Fundstrat Global Advisors is among the mainstream financial industry’s biggest long-term cryptocurrency bulls. However, the firm is advising clients to hold off on buying more bitcoin — at least for right now.
Writing in a recent note to clients, Fundstrat technical strategist Robert Sluymer said that investors seeking to increase their bitcoin holdings should wait for the market to make a clear trend reversal.
“Investors should remain patient and wait for evidence of an improvement in ‘trend’ before increasing exposure,” wrote Sluymer in an excerpt of the note cited in MarketWatch. “A move above the September real and relative highs remains the key resistance/reversal level that will need to be exceeded to signal the early stages of a trend reversal.”
As CCN reported, the bitcoin price has seen record stability in recent days, with BTC’s daily trading range narrowing to levels not seen in more than 17 months and the coin’s price increasingly appearing tethered to $6,550. This decline in volatility correlated with a drop in trading volume, which analysts variously attributed to a decrease in sellers or a reduction in speculative buyers.
https://www.ccn.com/bitcoin-price-wait-for-clear-bull-trend-before-buying-more-cryptocurrency/
Thank you for this kind advice and actually it is very important for us to know that when you buy bitcoin is very important as the market move and there is a clear prove that bitcoin is going to go up. I have invested at wrong time before and that affect my profits. Wall Street strategy firm Fundstrat Global Advisors is among the mainstream financial industry’s biggest long-term cryptocurrency bulls. However, the firm is advising clients to hold off on buying more bitcoin — at least for right now.
Writing in a recent note to clients, Fundstrat technical strategist Robert Sluymer said that investors seeking to increase their bitcoin holdings should wait for the market to make a clear trend reversal.
“Investors should remain patient and wait for evidence of an improvement in ‘trend’ before increasing exposure,” wrote Sluymer in an excerpt of the note cited in MarketWatch. “A move above the September real and relative highs remains the key resistance/reversal level that will need to be exceeded to signal the early stages of a trend reversal.”
As CCN reported, the bitcoin price has seen record stability in recent days, with BTC’s daily trading range narrowing to levels not seen in more than 17 months and the coin’s price increasingly appearing tethered to $6,550. This decline in volatility correlated with a drop in trading volume, which analysts variously attributed to a decrease in sellers or a reduction in speculative buyers.
https://www.ccn.com/bitcoin-price-wait-for-clear-bull-trend-before-buying-more-cryptocurrency/
October 11, 2018, 06:01:05 AM
More like wait for a drip to buy more. If I were to follow what this article is saying, I'd be missing some serious bargains thanks to current drop. Even with such low volatility lately, you can still make some decent profits if you buy during the dips such as the one we're seeing today, so I wouldn't recommend people to wait for a trend reversal if they still want to make some profits. God knows when the reversal will arrive, in the mean time, it's much better to follow your gut and buy whenever you want rather than sitting on your ass waiting for signal of a bull trend.
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October 11, 2018, 05:56:47 AM
I agree with all the comments here. The point is that we think long-term. If you believe in bitcoin long-term, it doesn’t matter if you buy today and drops more. However, I think they are speaking to traders. If you are looking for short-term profits, it doesn’t make sense to buy now if you think it is going to go down.
October 11, 2018, 05:47:52 AM
IMO this shouldn't be the mindset. You can still ride the waves even without any clear bull signal arising, Averaging the price of your buys still helps in a bull run, and believe me, it even helps to lower your entry without losing too much bitcoin in the process. 'Signals' to me are nothing but mere noises often causing more confusions in the market. Buy whenever you can, and try to set an average entry point to ride the seas even if it's rough.
October 11, 2018, 03:42:29 AM
There's some contradictory in the statement. How can you increased your holding and maximize your full potential if you are not going to buy in the dip? And instead he advises his client to wait for a bull market before buying? I don't get it. Specially if you are into it for the long haul. Its better to accumulate more at this time and wait for the market to make a trend reversal and then make the decision to hold or cash it out to take home the profits.
October 11, 2018, 03:40:41 AM
Now its the right time to buy when the price is pretty stable on 6k / 6500
October 11, 2018, 03:33:00 AM
I do not quite agree with this, I believe that it is possible now, for example, to buy bitcoin and wait for the bull market. This is due to the fact that we cannot know for sure what will happen tomorrow - the price may start to grow at any moment.
October 11, 2018, 02:40:08 AM
It's almost impossible to go lower than 5500. Price follows the interest. Interest is at 7 out of 100 (in december). Lowest point in 16 months. But you need an interest level of 5 to go under 5500, which is unlikely to happen so quickly (maybe in 2 months). Numbers are based on google trend. Price follows the interest. Number one basic economic rule. 5500 is the new bottom based on the interest though.
October 11, 2018, 02:27:56 AM
DOW dropped 3% so they are cashing out some btc to offset the lose.
This is GOOD cause it puts more bitcoin into circulation from the whales who HODL. The more the they sell, the more bitcoin gets to people who want it (and at discount).
https://bitcointalk.org/index.php?topic=5048129.new#new This is GOOD cause it puts more bitcoin into circulation from the whales who HODL. The more the they sell, the more bitcoin gets to people who want it (and at discount).
October 11, 2018, 02:26:34 AM
DOW dropped 3% so they are cashing out some btc to offset the lose.
This is GOOD cause it puts more bitcoin into circulation from the whales who HODL. The more the they sell, the more bitcoin gets to people who want it (and at discount).
This is GOOD cause it puts more bitcoin into circulation from the whales who HODL. The more the they sell, the more bitcoin gets to people who want it (and at discount).
October 11, 2018, 01:58:01 AM
This is indeed unpredictable thus it's up to us whether to hope for or not.
Nothing is clear for now but I'm pretty sure that whales won't let their profit to decrease, they surely up for something that hopefully everyone will benefited. We're already in Q4 and everything seems hush and that we're not actually used.
Nothing is clear for now but I'm pretty sure that whales won't let their profit to decrease, they surely up for something that hopefully everyone will benefited. We're already in Q4 and everything seems hush and that we're not actually used.
October 11, 2018, 01:32:31 AM
Waiting for a clear bull train is a risky strategy unless you're a day trader or retired worker who can buy and sell at any time. Bull runs are notoriously fast so you need to be an existing hodler to benefit
October 11, 2018, 01:07:16 AM
I checked this morning and CMC shows a sharp drop in prices for most coins including bitcoin. IMO, this year has passed and it is not going to be significant increase in the price of bitcoin and other cryptocurrency. There are still rivers to cross but the inspiring thing is that the market has been stable at $6500 in recent times.
October 11, 2018, 01:02:16 AM
A "clear bull trend" will come when the btc price does above 10,000 USD.Then,all the people,who were waiting for a clear bull trend will regret,because they didn't bought at 6500 USD. 
Fundstrat analysts are:
1.Complete idiots.
2.Bulls under cover,who want to spread pesimism across the market and push the prices down.
Fundstrat analysts are:
1.Complete idiots.
2.Bulls under cover,who want to spread pesimism across the market and push the prices down.
October 11, 2018, 12:52:03 AM
But the strategy need to be buy right now and wait foe the bull run,right? Since we can't identify when the bull run begin.
People can buy now who are hoping that crypto currencies will be the future of currency system so for them the current price will be much beneficial but fot the traders then need to be more analytic.
People can buy now who are hoping that crypto currencies will be the future of currency system so for them the current price will be much beneficial but fot the traders then need to be more analytic.
October 11, 2018, 12:48:07 AM
That remains simply their own very opinion,since as we all know that the market is unpredictable,most investors should actually favor the purchase of bitcoin right now that the price is fairly stable as a pump or bull run could be in the horizon(mere speculations though).
Why wait for improvements before purchasing the bitcoin,when you can actually buy and wait for improvements to be in line for huge profits.
Why wait for improvements before purchasing the bitcoin,when you can actually buy and wait for improvements to be in line for huge profits.
October 11, 2018, 12:38:27 AM
Bitcoin Price: Wait for Clear Bull Trend before Buying More Cryptocurrency
Wall Street strategy firm Fundstrat Global Advisors is among the mainstream financial industry’s biggest long-term cryptocurrency bulls. However, the firm is advising clients to hold off on buying more bitcoin — at least for right now.
Writing in a recent note to clients, Fundstrat technical strategist Robert Sluymer said that investors seeking to increase their bitcoin holdings should wait for the market to make a clear trend reversal.
“Investors should remain patient and wait for evidence of an improvement in ‘trend’ before increasing exposure,” wrote Sluymer in an excerpt of the note cited in MarketWatch. “A move above the September real and relative highs remains the key resistance/reversal level that will need to be exceeded to signal the early stages of a trend reversal.”
As CCN reported, the bitcoin price has seen record stability in recent days, with BTC’s daily trading range narrowing to levels not seen in more than 17 months and the coin’s price increasingly appearing tethered to $6,550. This decline in volatility correlated with a drop in trading volume, which analysts variously attributed to a decrease in sellers or a reduction in speculative buyers.
https://www.ccn.com/bitcoin-price-wait-for-clear-bull-trend-before-buying-more-cryptocurrency/
Wall Street strategy firm Fundstrat Global Advisors is among the mainstream financial industry’s biggest long-term cryptocurrency bulls. However, the firm is advising clients to hold off on buying more bitcoin — at least for right now.
Writing in a recent note to clients, Fundstrat technical strategist Robert Sluymer said that investors seeking to increase their bitcoin holdings should wait for the market to make a clear trend reversal.
“Investors should remain patient and wait for evidence of an improvement in ‘trend’ before increasing exposure,” wrote Sluymer in an excerpt of the note cited in MarketWatch. “A move above the September real and relative highs remains the key resistance/reversal level that will need to be exceeded to signal the early stages of a trend reversal.”
As CCN reported, the bitcoin price has seen record stability in recent days, with BTC’s daily trading range narrowing to levels not seen in more than 17 months and the coin’s price increasingly appearing tethered to $6,550. This decline in volatility correlated with a drop in trading volume, which analysts variously attributed to a decrease in sellers or a reduction in speculative buyers.
https://www.ccn.com/bitcoin-price-wait-for-clear-bull-trend-before-buying-more-cryptocurrency/
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