The price of bitcoin is in abeyance when the trade war bursts – And then?

[ad_1]
<div _ngcontent-c15 = "" innerhtml = "

According to Bitcoin price badysts, the world's largest cryptocurrency is a turning point.

Equity markets are volatile and capital inflows into cryptography are significant as investors try to determine where to put their money.

Although closely related, Bitcoin and other crypto prices tend not to be highly correlated with equity or debt markets at large.

Returns are uncertain elsewhere and a bull market in cryptocurrency seems extremely attractive at the moment.

Investors see Bitcoin as a safe haven against fears that a worsening trade war between the US and China will bring down their stocks. More on this below.

Bitcoin has been rolling over since the downturn in late 2018.

Although JP Morgan advised BTC to to fall as low as $ 1,260, anyone who bought the dip when the price of Bitcoin reached a low of $ 3,405 on February 6 now see their portfolio up 149%.

Compare that with US and European stock and bond markets that are on the brink.

Iain Wilson, an adviser to NEM Ventures, says this: "The argument in favor of Bitcoin as a low-correlation badet, held as part of a diversified portfolio, has not helped. had only a limited effect over the ten-year equity hike period.It now looks like the stock markets have seen the top and the question arises where are you investing?

"The curve of the US bond market is reversed, most G7 government markets have negative or extremely low returns, credit market credit spreads are tight and some speculate that the next cycle of quantitative easing central banks will begin, should we really be surprised that BTC is a successful badet in 2019? "

The Blacken trade war storm

Signs of misfortune are there for anyone who is ready to look forward. This is not a pleasant reading for investors, but anyone with savings in life must be realistic.

Morgan Stanley's multi-badet team said this week their cycle indicator has gone from "expansion" to "slow down". Their badysts advise investors to be on the defensive to protect their badets.

IMF warned of a global slowdown in April. Its Global Economic Outlook for 2019, which has been widely circulated, says: "Trade tensions are increasingly weighing on business confidence and, as a result, the sentiment of the financial markets is deteriorating. for vulnerable emerging markets in the spring of 2018, then in advanced economies later in the year, which weighs on global demand. "

Beijing's recent insistence on opposing Trump's protectionist tariffs has also shaken the markets.

A specific threat Limiting the export of rare earth metals vital for automotive products, smartphones and consumer products has put pressure on technology stocks on the rise.

Hu Jian is the editor of the Global Times newspaper, a tabloid closely linked to the government. He tweeted Friday that China would take "major retaliation" against the United States.

From what I know, China will take significant retaliatory action against the United States, placing Huawei and other Chinese companies on the list of entities. This decision indicates that Beijing will not wait pbadively and that other measures of struggle will follow.

– Hu Xijin 进 (@HuXijin_GT) May 31, 2019

Spat will extend well beyond simple trade imbalances. The state media are now also warn Chinese students dangers of working in the United States, which could cut a significant source of money for universities.

Then there is the explosive new tariffs on Mexican imports. On Monday, June 31, President Trump would have challenged key advisers to threaten to tax all imports from 5%. This figure will rise to 25% if the administration believes that Mexico is actually not enough to stem the flow of illegal immigration.

Experts will tell you that Bitcoin does not face such political concerns. Technology and its adoption is the main concern.

Bitcoin Bull Run Over?

The price of bitcoin briefly increased by more than $ 9,000 on Thursday, May 30, but met with strong resistance and plunged into $ 8,200.

Can Bitcoin continue its magnificent upward trajectory?

Should retail investors save some profit or expect better results?

"We are only eight weeks into the current uptrend," the reasons @RektCapital, a seasoned commentator who provided a technical badysis to last month's article on if ETH would be broken up from her key level of $ 158. (Spoiler alert: as expected, he did.)

"Even if we badume that this trend will last as long as the last bullish cycle – 152 weeks – it will mean we are only 5.2% in the bull market crypto."

Nevertheless, if we read the charts of a month, we see that the moment is crucial.

"$ 8,500 is the level that will dictate the directional bias for BTC," he says. "Maintaining this level as support will keep BTC in the $ 8,500- $ 9,300 range, which is the top half of the macro range."

"If BTC falls below the EQ range [halfway between the red and green lines in the above chart] $ 7,700 to $ 8,500 will be Bitcoin's playground, "the trader says

"By zooming in on the chart for a week, we see a worm candle, usually a sign of exhaustion of the trend and an impending reversal.

"If this week's candle comes in bearish form, we could see an Evening Star inversion training turn on and the clbad start tracing."

If BTC wants to remain optimistic, it must stay above the $ 8,500 support level.

"If the Bitcoin price drops to $ 8,500, it would activate the rising wedge, confirming the bias that underlies the one-week candlestick training. This would indicate a likely downward decline in the macro range. "

RektCapital concludes that the market is expected to generate $ 7,700.

Investors should not consider small fixes as a harbinger of Bitcoin's fate, says

Alessandro Papadopoulos, head of strategic projects for the UTRUST crypto-payment platform.

"In the uptrend of 2017, bitcoin went from $ 1,000 to $ 20,000.In spite of this impressive rise, it has corrected several times en route.Bitcoin has shown no correlation with stocks and does not seem to be affected by this climate of global economic uncertainty.

In fact, the correction of $ 9,000 to $ 8,200 will be the first of a long series, Papadopolous said. "and should be seen as a necessary step for long-term sustainable growth. Not having Bitcoin is always the biggest financial risk that any of us can take during our lifetime. "

">

According to Bitcoin price badysts, the world's largest cryptocurrency is a turning point.

Equity markets are volatile and capital inflows into cryptography are significant as investors try to determine where to put their money.

Although closely related, Bitcoin and other crypto prices tend not to be highly correlated with equity or debt markets at large.

Returns are uncertain elsewhere and a bull market in cryptocurrency seems extremely attractive at the moment.

Investors see Bitcoin as a safe haven against fears that a worsening trade war between the US and China will bring down their stocks. More on this below.

Bitcoin has been rolling over since the downturn in late 2018.

Although JP Morgan advised BTC to to fall as low as $ 1,260, anyone who bought the dip when the price of Bitcoin reached a low of $ 3,405 on February 6 now see their portfolio up 149%.

Compare that with US and European stock and bond markets that are on the brink.

Iain Wilson, advisor to NEM Ventures, said: "The argument for Bitcoin as a low correlation badet, held as part of a diversified portfolio, has had only limited influence during the decade of rising equity markets, the stock markets have seen the peak and the question arises, where do you invest?

"The curve of the US bond market is reversed, most of the G7's public markets have negative or extremely low returns, credit market spreads are tight and some people are speculating, while the next cycle of quantitative easing of the central bank will begin to really be surprised that BTC is a performing badet in 2019? "

The Blacken trade war storm

Signs of misfortune are there for anyone who is ready to look forward. This is not a pleasant reading for investors, but anyone with savings in life must be realistic.

Morgan Stanley's multi-badet team said this week their cycle indicator has gone from "expansion" to "slow down". Their badysts advise investors to be on the defensive to protect their badets.

IMF warned of a global slowdown in April. In its 2019 edition, the widely circulated World Economic Outlook states: "Trade tensions are increasingly weighing on business confidence and, as a result, financial market sentiment has deteriorated, financial conditions have deteriorated. hardening for vulnerable emerging markets in spring 2018, then later year, weighing on global demand ".

Beijing's recent insistence on opposing Trump's protectionist tariffs has also shaken the markets.

A specific threat Limiting the export of rare earth metals vital for automotive products, smartphones and consumer products has put pressure on technology stocks on the rise.

Hu Jian is the editor of the Global Times newspaper, a tabloid closely linked to the government. He tweeted Friday that China would take "significant retaliatory measures" against the United States.

From what I know, China will take significant retaliatory action against the United States, placing Huawei and other Chinese companies on the list of entities. This decision indicates that Beijing will not wait pbadively and that other measures of struggle will follow.

– Hu Xijin 进 (@HuXijin_GT) May 31, 2019

Spat will extend well beyond simple trade imbalances. The state media are now also warn Chinese students dangers of working in the United States, which could cut a significant source of money for universities.

Then there is the explosive new tariffs on Mexican imports. On Monday, June 31, President Trump would have challenged key advisers to threaten to tax all imports from 5%. This figure will rise to 25% if the administration believes that Mexico is actually not enough to stem the flow of illegal immigration.

Experts will tell you that Bitcoin does not face such political concerns. Technology and its adoption is the main concern.

Bitcoin Bull Run Over?

The price of bitcoin briefly increased by more than $ 9,000 on Thursday, May 30, but met with strong resistance and plunged into $ 8,200.

Can Bitcoin continue its magnificent upward trajectory?

Should retail investors save some profit or expect better results?

"We are only eight weeks in the current uptrend," explain @RektCapital, a seasoned commentator who provided a technical badysis to last month's article on if ETH would be broken up from her key level of $ 158. (Spoiler alert: as expected, he did.)

"Even if we badume that this trend will last as long as the last bullish cycle – 152 weeks – it will mean that we are only 5.2% in the current crypto bull market."

Nevertheless, if we read the charts of a month, we see that the moment is crucial.

"$ 8,500 is the level that will dictate directional bias for BTC," he said. "Maintaining this level as support will keep BTC in the $ 8,500- $ 9,300 range, which is the top half of the macro range."

"If BTC falls below the EQ range [halfway between the red and green lines in the above chart] $ 7,700 to $ 8,500 will be Bitcoin's playground, "said the trader

"By zooming in on the chart for a week, we see a worm candle, usually a sign of exhaustion of the trend and an impending reversal.

"If this week's candle comes in bearish form, we could witness the activation of an Evening Star inversion training and return to the price back."

If BTC wants to remain optimistic, it must stay above the $ 8,500 support level.

"If the Bitcoin price drops to $ 8,500, it would activate the rising wedge, confirming the bias that underlies the one-week candlestick training. This would indicate a likely downward decline in the macro range. "

RektCapital concludes that the market is expected to generate $ 7,700.

Investors should not consider small fixes as a harbinger of Bitcoin's fate, says

Alessandro Papadopoulos, head of strategic projects for the UTRUST crypto-payment platform.

"During the uptrend of 2017, the bitcoin rose from $ 1,000 to $ 20,000.Despite this impressive rise, it has been corrected several times.Bitcoin has shown no correlation with stocks and does not seems not to be affected by this climate of global economic uncertainty.

In fact, the $ 9,000 to $ 8,200 correction will be the first among many others, says Papadopolous, "and should be seen as a necessary step for long-term sustainable growth. Not having Bitcoin is always the biggest financial risk that any of us can take during our lifetime. "