There is lots of disappointment around cryptocurrencies. Moreover, with the recent crash of January / February many are now convinced that cryptocurrencies are a bad investment.
InvestingHaven’s research team, editors of the first blockchain investing research service in the world, remains convinced that the long term bull market is still intact. Not only was their forecast of a major though Intermediate Top on Dec 31st very accurate, also is there plenty of evidence that the absolute peak is not set, at least not yet.
Bullish cryptocurrencies market in 2018 and beyond, here is why
On the one hand in both articles Cryptocurrencies: A Must-See Chart Going Into May 2018 as well as A Screaming BUY Opportunity For Investing In Cryptocurrencies Until 2020 we used the top-8 crypto index as a leading indicator to point out that the long term uptrend on its chart was not damaged.
In plain simple terms: the uptrend is still intact, the bull market is alive and kicking, it is just taking a breather and cooling off after a parabolic rise.
On the other hand we apply another indicator which is only available to premium subscribers but is now exceptionally published in the public domain as well: the correlation between Bitcoin’s price and the technology stock index Nasdaq. Essentially, both assets move in synch, and have shown divergences of maximum one month. Recently, as Bitcoin retraced in the month of May, technology stocks continued to go higher. This was confirmed by A New RISK ON Cycle in broader stock markets.
In plain simple terms: the stock market is in a RISK ON cycle, tech stocks are going higher, because of this we expect Bitcoin to start rising again as part of the intermarket correlation between Bitcoin and tech stocks.
We remain convinced that the crypto bull market is intact, and that has major implications for investors.