Bitcoin has lost -1001.62 in the 24hours trade so far and is under the clutches of bears once again or is it the lack of buying interest, that’s a tough guess. The crypto currency has been losing value of late and amid signs of medium term reversal, today is no different I dare say. The bulls would be extremely worried at moment though the bears do not necessarily share the same emotions at the other side of the board. The present decline in the market substantiates the commonly accepted view of a long term negative trend. There are signs of panic amongst the buyers and it can further precipitate if the fall becomes steeper. To contextualize this look at the picture from November 10th when Bitcoin actually made an all time high of $68000 but from that day onwards it has been sliding downwards losing $40803.05 or 60% of its value to date. Does it reinforce the view of a long term bear trend?

Good News for bulls is that the medium term trend is now positive in my humble opinion, considering it has gained $ in last 31 days. It is being argued that the medium trend is actually very important while analyzing an instrument like Bitcoin. The definition of trend might vary though. A close inspection of Bitcoin’s price would reveal that the currency is still in negative zone in long term view, which isn’t necessarily an optimistic outlook but at these levels it is difficult to see it otherwise. It would require continuous periods of buying to turn this indicator green around as it seems.

Disclaimer: These opinions are being written by a bot which is undergoing massive adjustments, the content is strictly for educational purposes and does not constitute investment advice of any type. Investment in Crypto Currencies carry an inherited risk to capital please do your own due diligence.

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