Written by S3052.

Bitcoin Predictions Review

We want to review the bitcoin predictions over the past two years.  First, it is clear that bitcoin prices are in a severe bear market since the early 2014 top at 1175 $ (basis bitfinex prices). At currently 194 $ when writing this article, Bitcoin prices are down -83.49%. There are a few services in the bitcoin sphere who tried to predict the bitcoin price at that time. Most of them actually predicted a further rally. And on the bitcointalk forum, the bullish sentiment was even more excessive: See example here: “reach far more than 10,000…”.

The Big Bear Market Prediction

So let us review the Bitcoin BullBear Forecast. In January 2014, right at the top, we issued the following forecast in the premium members section: We clearly warned bitcoin speculators and bitcoin investors: “…we advise caution at this time” and there is a big “bias to the downside”.  And in fact, bitcoin prices declined more than 80% since then.

Here is the bitcoin chart where we can visually follow the bitcoin predictions. Since the bearish prediction in January 2014, bitcoin prices declined by 83%. Despite all the increased hype about bitcoin in early 2014, all those “fundamental” news did not count. In fact, this was already priced in the market 6 to 9 months before.

How Is A Bitcoin Forecast Developed?

BullBear Analytics not only uses standard technical analysis tools, but also some very novel tools that are only accessible to them.  Also, the 5 year experience in the bitcoin predictions sphere plays a major role (Bitcoinbullbear started to cover the bitcoin market already in 2010).

BullBear Analytics uses those tools:

• Key technical indicators
• A unique set of back-tested moving averages
• A very specific array of trendline analysis
• Leading indicators derived from cross-market correlations
• Elliottwave tools
• Volume trends
• A proven set of divergence / convergence statistics
• A new proprietary indicator called Bitcoin Bull Bear Indicator (BBBI©), which in itself is a weighted composition of more than 10 specific indicator and tools.

The diligent analysis plus an almost 24/7 coverage of our analysts ensure that those bitcoin predictions can be used well to outperform buy & hold.

In the next edition, we will cover short term bitcoin predictions.

Have a great BITday!

@S3052

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To learn more about the bitcoin forecast above, or to gain access to the full Bitcoin Forecasts and Bitcoin Predictions, Weekly Report, Daily Updates, and real-time Price Alerts please visit BullBear Analytics & Bitcoin Prediction today!

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Happy trading and have a great BITday!

 

Disclaimer: Please always do your own due diligence, and consult your financial advisor.  Author owns and trades bitcoins and other financial markets mentioned in this communication.  We never provide actual trading recommendations. Trading remains at your own risk.  Never invest unless you can afford to lose your entire investment.  Please read our full terms of service and disclaimer at terms-conditions-disclaimer/.