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Bitcoin (BTC) Price May Enter Ultra-Bearish Season Soon, Multi-Year Analysis Shows

News
Sat, 06/27/2020 - 14:40
Vladislav Sopov
Corporate lawyer and cryptocrrencies trader Levi Ackerman unveiled a grim Bitcoin (BTC) price analysis for the bulls. This pattern played out for nine years in a row!
Bitcoin (BTC) Price May Enter Ultra-Bearish Season Soon, Multi-Year Analysis Shows
Cover image via stock.adobe.com
Contents

Levi Ackerman summarized the mid-term results for Bitcoin (BTC) and the price performance for the summer months between 2011-2019 and figured out that the king coin was losing a minimum of 30%.

Bloody Summer

Mr. Ackerman demonstrated nine Bitcoin (BTC) price charts to showcase its typical performance over the last nine years. According to his tweet, every summer has brought about at least one bearish cycle with a price collapse of 30-60%.

Levi Ackerman summarized Bitcoin (BTC) price performance in 2011-2019
Image via Twitter

The most merciless collapse occurred in about nine years ago (Summer 2011). The price Bitcoin (BTC) lost almost 60%, which can be compared to the recent Black Thursday free-fall.

The last three drops were less sensitive, and the net loss for Bitcoin (BTC) managed to stay between 30% and 31%. In 2015, Bitcoin (BTC) came through two consecutive bearish rallies, which resulted in real drama for all Bitcoin (BTC) holders.

Mr. Ackerman asked the most influential traders of Crypto Twitter about their opinions in regard to this tendency, e.g. Michael van de Poppe and Teddy Cleps.

Bulls Should Be Careful, But Not Panic

Dutch cryptocurrencies analyst, trader, and educationist Michael van de Poppe claimed that this is nothing but a 'new narrative'. He recalled that last week, the community was afraid of a possible downward movement caused by a massive futures expiration.

Michael van de Poppe called this tendency 'a new narative'
Image via Twitter

As previously covered by U.Today Crypto News, Mr. van de Poppe dismissed the idea of a bloodbath caused by a futures expiration. According to him, traders will just open new contracts and this long-awaited moment may bring only "intra-day volatility".

However, Mr. van de Poppe indicated new crucial levels for bulls to hold, and is currently located in the sub-$9,000 waters.

All depending on holding $8,600-8,800. If we do, we've got a hidden bullish divergence (I don't do much with them regularly). And another HL. The next test of $10,500 = very likely breakout. Losing $8,600 -> invalidation.

So, the bulls shouldn't brace themselves for double-digit drops, but the last support level is down only 6% from the current price of Bitcoin (BTC), which is at $9,159.

About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

Ethereum (ETH) Market Cap May Become Equal to Bitcoin's (BTC): ConsenSys Director

News
Mon, 07/13/2020 - 14:38
Vladislav Sopov
John Lilic, managing director at ConsenSys decentralized development studio, has shared an over-bullish prediction for Ethereum (ETH) progress
Ethereum (ETH) Market Cap May Become Equal to Bitcoin's (BTC): ConsenSys Director
Cover image via stock.adobe.com
Contents

John Lilic leads international business development in the ConsenSys leading blockchain development studio. He is also an expert in energy markets and cryptocurrency segments. He tracked the progress of Bitcoin's (BTC) and Ethereum's (ETH) market capitalization statistics, coming up with an extravagant prediction.

Bitcoin (BTC) should get ready for parity

Mr. Lilic outlined that Ethereum (ETH) is showcasing much healthier dynamics than its competitor is. For instance, the flagship cryptocurrency still surpasses Ethereum (ETH) by 6.3x in terms of market capitalization, while simultaneously collecting 20% fewer fees than Ethereum (ETH).

John Lilic of ConSensys foresees parity of Bitcoin (BTC) and Ethereum (ETH) market capitalizations
Image via Twitter

Also, Ethereum (ETH) is demonstrating much more impressive price dynamics this year. It gained almost 37% against Bitcoin (BTC) in 2020. That said, Ethereum (ETH) looks severely undervalued to the top manager of ConsenSys.

However, Ether is on the path to eliminating this discrepancy. Eventually, the top two cryptocurrencies may reach market capitalization parity, concludes Mr. Lilic.

Related Bitcoin (BTC) and Ethereum Have (ETH) Recovered From Black Thursday, Who Else? Coinmetrics Explains
Related
Bitcoin (BTC) and Ethereum Have (ETH) Recovered From Black Thursday, Who Else? Coinmetrics Explains

As covered by U.Today Crypto News recently, Coinmetrics on-chain research team called Bitcoin (BTC) and Ethereum (ETH) the unique crypto behemoths that have managed to recover from Black Thursday.

Bitcoin (BTC) is losing supremacy in "fee race"

Should Ethereum (ETH) overcome its undervaluation, its price may be over $1,550 based on liquid supply and current Bitcoin (BTC) market capitalization.

Recently, it was unveiled that Ethereum (ETH) blockchain continues to surpass Bitcoin (BTC) in terms of network fees for more than 30 days in a row. Ethereum (ETH) is seeing this advantage for the first time in its history.

As U.Today Crypto News reported previously, ex-Messari analyst and angel investor Qiao Wang identifies two main catalysts of Ethereum's (ETH) price run in the mid-term perspective.

Related Ethereum (ETH) Price Two Bullish Signals, According to Investor Qiao Wang
Related
Ethereum (ETH) Price Two Bullish Signals, According to Investor Qiao Wang

According to Wang, the upcoming rally may be fueled by a long-awaited transition to Proof of Stake and fixing the monetary policy of Ether token.

About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)