Bitcoin Cycles
What is Bitcoin? From Dictionary, it is type of digital currency in which a record of transactions is maintained and new units of currency are generated by the computational solution of mathematical problems, and which operates independently of a central bank. Bitcoin was introduced in 2009 by an unknown person using the alias Satoshi Nakamoto and it started trading in 2010.
Bitcoin primarily came in limelight after its parabolic move up in 2016-2017 and finally a crash in 2018. See chart below for past monthly price movement of Bitcoin.
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| Bitcoin Monthly - 02/08/2019 |
While we don't personally trade Bitcoin primarily due to a) our lack of understanding its fundamentals; b) lack of government backing; c) lack of support by SEC, at the request of our clients and readers, we have spent time in the recent past building cycle models for Bitcoin. They reveal some interesting price movement rhythms in multiple timeframes. In the below chart we show the cycle that led to its parabolic rise and eventual decline. Such price movements don't happen often. If you are interested in extrapolation and future cyclic price movement forecast of our cycle model for Bitcoin then please feel free to drop us a note using the contact form in the left panel.
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| Bitcoin Weekly Cycles |
