Elliott Waves in Bitcoin Price Charts

Bitcoin: Here’s Why the Push Above $20,000 Was in the Cards


 

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EWI’s FX analysts now provide cryptocurrency coverage. Now, investors who follow and trade Bitcoin can see what is most likely to happen next — on multiple degrees and in both directions.

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To our best knowledge, The Elliott Wave Theorist was the first financial publication in the world to discuss Bitcoin. Bitcoin began in 2009. When it hit 6 cents in September 2010, amidst obscurity, skepticism and disinterest, our Theorist explained the digital currency to subscribers and said it had the potential to become the world’s currency. As everyone now knows, Bitcoin recently traded at $20,000.

The majority of traders get run over by big, unanticipated market swings. Those who follow Elliott waves can be calm, prepared and ready to take action before the next, most likely turn.

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This article was syndicated by Elliott Wave International and was originally published under the headline Bitcoin: Here’s Why the Push Above $20,000 Was in the Cards. EWI is the world’s largest market forecasting firm. Its staff of full-time analysts led by Chartered Market Technician Robert Prechter provides 24-hour-a-day market analysis to institutional and private investors around the world.