Bitcoin Forecast Review: Bitcoin Priced Plunged as Expected in August 2015
Oct 3, 2015 --- (ARCHIVED) Free Reports
Bitcoin Forecast Review
Over the past five years, bitcoin prices have been going through very volatile phases, followed by very stable, low volatility periods. Most recently, we are seeing one of those low volatile, stable periods. In our bitcoin forecast, we continuously analyze to predict the direction of breakouts of those "slow bitcoin" times. Earlier, a lot of talk was about bitcoin profits, but what about avoiding or reducing losses?Protecting Bitcoin Holdings
A lot of people still hold significant stashes of bitcoins: Miners, early adopters, merchants, bitcoin speculators and bitcoin traders.
While the bitcoin market went nearly exclusively up between 2010 and 2014, we are now still in a mid term bear / consolidation market. It is quite important to look out for proper bitcoin forecasts to avoid getting caught on the wrong side.
Having a good bitcoin forecast at hand can be used for good protection or hedging strategies: (i) Bitcoin holdings can be sold prior to big declines and then bought back at bottoms, or (ii) Bitcoin short positions can be opened (e.g. at bitfinex
, IG markets
) to hedge against bitcoin price declines.Anticipating The August 2015 Plunge
As one example of protecting bitcoin holders against bitcoin price declines, we have seen a strong indication for a top on July 27, 2015: In our member section, we issued this warning to subscribers: "While we got a decent rally during the evening hours yesterday, price was unable to break above the key 300 $ level. The market is now pulling back as it should following a failed breakout".
Bitcoin Forecast Materialized, Plunging in August
As we can see below, bitcoin prices declined heavily after that warning. A massive loss of more than -40% on bitfinex was the consequence. And despite the bounce since then, prices are still down versus July.
Bitcoin Forecast Chart from October 3, 2015
If anyone wants to get the insights into the methodology and direction of bitcoin forecasts, we give detailed probabilities on the directions of bitcoin prices in the member section. Beating the "buy and hold strategies" is one of our missions and this exceeded returns by 1,662 %.We even have a special offer for our best Expert Pro service at only 99.95 $ for a limited time..
Have a great BITday!
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, etc), or how to subscribe to our Premium Services, please visit the Bitcoin BullBear today!Disclaimer: Please always do your own due diligence, and consult your financial advisor. Author owns and trades bitcoins and other financial markets mentioned in this communication. We never provide actual trading recommendations. Trading remains at your own risk. Never invest unless you can afford to lose your entire investment.