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Is Bitcoin getting ready for another run-up?

on Oct 29, 2015
Updated: Sep 19, 2019

If you have been following bitcoin for the last few years, you probably noticed that public attention has turned away from it lately. To be precise since bitcoin hit $1000 late 2013, the buzz surrounding the crypto-currency has steadily declined hand-in-hand with the price that collapsed more than 80% in 2014. To get a grasp of the change of public-interest in the topic, let’s look at how often people searched for bitcoin on Google!

Weekly chart of the NYSE Bitcoin Index (

If we look at the price action in 2015, it looks consistent with the development of a price-base that, according to technical analysis, can serve as a support zone for further advance. I have indicated prior bases with gray rectangles on the chart. As you can see, breakouts from those bases lead to explosive bullish moves before. The 200-day Moving Average is also turning up signaling a possible uptrend initiation.


Without trying to predict the future, the current situation in the bitcoin market might be a great entry point for long-term positions. BTC could be bought as protection against the global devaluation of currencies conducted by central banks and governments. Investors should still keep the higher-than-average volatility of the crypto-currency in mind when sizing their positions.

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