RATE Group | Max Pain: Bitcoin Boredom Incoming Before Bull Market Begins
74186
post-template-default,single,single-post,postid-74186,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Max Pain: Bitcoin Boredom Incoming Before Bull Market Begins

01 Jan Max Pain: Bitcoin Boredom Incoming Before Bull Market Begins

Posted at 19:48h in Bitcoin News by

[ad_1]

With 2019 now in the history books, looking back at the year it was a rollercoaster ride for Bitcoin traders, with the asset reaching lows around $3,000 then rallying by 350% to $14,000 before falling back down to $6,500 at a local low.

However, according to one analyst, that rollercoaster ride is about to get a lot less bumpy, and probably even boring for most crypto investors and traders over the next few months, before Bitcoin breaks out and the bull market really begins.

Boring Bitcoin Price Action To Precede Next Rally

Traders and investors often like to talk about what would be the “max pain scenario” that would cause the market the most heartache and confusion. Following deep drops in price, late-shorters get squeezed in surprise pumps, only to cause investors to FOMO into a bearish retest, much like what happened in late October 2019 on the heels of news Chinese President Xi Jinping offering his support of blockchain technologies.

Related Reading | The Biggest FUD and FOMO…

[ad_2]

Source link

Tags:
, , , , , , ,