Tuesday, November 30, 2021

Crypto bear: I am… inevitable

The Takeaway:

Cryptocurrency industry is highly unpredictable with the intense fluctuations that accompany the digital coins. However, the crypto world has no shortage of cynics. Currently, with the sharp price resistances, the cryptocurrencies seem to take a sliding ride. In this article, we cover the ascending negative traits, opinions, predictions, and valuations that indicate a severe bearish pattern.

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The existence of Cryptocurrencies in the investment world comes with the extreme volatility they possess. There’s a lot of fashion involved in the virtual currencies. The trends they follow are highly inconstant which poke the crypto patrons to go into action and give light to their opinions. The crypto industry holds a separate fan base for the crypto psychics and price astrologers who every day furnish the crypto enthusiasts with latest valuation and trends predictions.

 

The Masterclass

Alanmasters on TradingView suggested an upcoming bearish trend in the Bitcoin pricing. As per the analysis, Bitcoin was rejected firmly for the fourth time by the strong resistance, indicating a smooth lower move. The crypto analyst presented the chart and stated that until the red trendline is surmounted, we can expect a retrace in price. 

 

Walk with Walker

Crypto Walker, the crypto analyst on Twitter, recommended the traders to stay short. He cited that the falling wedges and bullish-to-bearish trend reversal of BTC being portrayed at other TA’s might see no victory as all indicators point towards the extension of the downward trend.  

In addition to the sliding pattern foresight of cryptocurrency prices by the analysts, the bitcoin skeptics hoisted the flags of criticism. 

 

No real crypto, says Nouriel

The well-known crypto cynic, Nouriel Roubini once again took the lead in targetting the cryptocurrencies. In a very sarcastic tone, he played question and answer with his self. On questioning what happened to the people who invested in cryptocurrencies, he responded that they are now a valuable lesson for each of us, not to take the road they did. 

Bitcoin today, burger tomorrow

In response to a tweet urging McDonald’s to accept bitcoin, XRPist, a Ripple investor and researcher, sarcastically promoted the offer. The Twitterati mockingly asserted that McDonald’s has started accepting the crypto coin as payment, but for that, you will have to pay a day before your order. 

The tweet received rapid replies with ripple enthusiasts attacking bitcoin’s reputation. 

 

Sell before you sink

a_neil, another analyst on TradingView advised short sell on bitcoin as he prophesies a bearish outlook on the cryptocurrency prices. They suggest selling BTC @9950 as the values no sooner seem to follow a bullish pattern.

 

Dave sees a red Wave

Dave the wave, another crypto analyst, pointed to the Moving Average Convergence Divergence indicator, indicating an elongated session of BTC downside. With Bitcoin price locked in a descending triangle, the Bitcoin charter and investor predicted a stretched red zone on the virtual currency’s pricing map. 

Is Bitcoin the new shitcoin?

Another user highlighted the perceived drawbacks of bitcoin and regarded it as the cryptocurrency that is the center of manipulative moves, controlled hype, and lies. Eric framed his disliking towards the most successful virtual coin and wished that it struck out from the markets. 

Ethereum ready for a downhill journey

Cryptopolitan1 and ICmarkets contributed to the trend analysis on TradingView. The analysts highlighted the assumption of a descending pattern of ETH price. The crypto coin projected a bullish to bearish trend during the end of the last month, which is predicted to sustain for a longer duration. The price is expected to plunge below the $170 mark. 

 

Is the End of Litecoin era imminent?

Litecoin price is swinging low as its hash rate is on the downslide post the halving event. A twitter user, Chad Weaver, expressed the sadness following the downward trend in the coin’s pricing. He phrased that though he wishes the opposite, Litecoin is moving towards a gradual death. 

Litecoin’s price fell by five dollars in twenty-four hours. 

What do you think the future of cryptocurrencies holds for the hodlers?

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Disclaimer: The article reflects the opinions of the author and is not representative of Chaintimes’ views.
The article does not offer any investment advice. User discretion is advised when investing in or trading with cryptocurrency. Extensive and diligent research should be carried out by the reader before making a decision.

Daniel Walker
Daniel Walker
Daniel is an experienced information technology analyst. He is a graduate from McGill University. When Daniel is not covering cryptocurrency and blockchain news, he loves talking to his dog.

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