Was November The Last Big Bitcoin Sell-Off? Crypto Twitter Analyst Thinks So
Was November The Last Big Bitcoin Sell-Off? A Twitter Analyst Thinks So
Will 2019 be a better year for cryptos? A prominent Twitter analyst seems to think so. According to Moon Overlord (yes, that’s actually his name, but bear in mind that he has over 38 thousand followers), November 2018 was the last big Bitcoin sell-off.
This means that the prices will stop to fall now and that a consolidation period is expected to start in 2019. This could mean that 2019 will be a better year, but hardly anyone will agree with that unless there is a new bull run.
Bitcoin has been relatively stable in 2019 so far ranging from $3,500 to $4000 USD, this, when you consider that the trend in December was similar, shows that there is a chance that this Moon Overlord guy is actually right and that the market will be calm for a while.
What Will A Calmer Market Bring?
The market is, indeed, very calm. With the price swinging up and down in a small margin, we do not see the reason for expecting a more acute swing soon.
Moon Overlord agrees with this. He sees November as the worst month recently and believes that the sell-offs have finally started. However, the market is still lacking a huge motive to go upwards again. This, we believe, will mark a consolidation of price between the $3,500 and the $4,000 USD mark.
If Bitcoin goes up slowly, there is space for a consolidation of the market during the year and maybe a bull run not so soon (at the end of the year or in 2020), but if the prices go up too fast, an acute prince swing down may happen in correction.
There are only two programmed events that might interfere with the price of BTC during the year: the launch of Bakkt, which is owned by the Intercontinental Exchange (ICE) and the Bitcoin exchange-traded fund (ETF), which may or may not be approved by the U. S. Securities and Exchange Commission (SEC) this year.
You Can Always Invest In Other Assets As Well
If the year is simply too slow for Bitcoin, you can always trade other tokens. Historically, smaller tokens are more prone to volatility and, therefore, they are also good ways to make (or lose) money.
As the stability of Bitcoin is not very likely to start any significant bull run soon enough, you may see that trading lesser known tokens might bring you more profits quickly if you manage to choose the right ones.
It is very important to know, though, that maybe you should not trust 100% a guy that calls himself Moon Overlord. Really. On his profile, he talks about “the next moon mission” and tells people to accumulate Bitcoin. It is simply not fair to give a speculator so much credit, as he might have an interest in people buying Bitcoin.
Before investing, always remember to see the market trends via many analysts, not only the ones that tell you what you want to hear.