Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • Email Alerts
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • Email Alerts
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

Here’s the Most Realistic Bitcoin Prediction for the Rest of 2022, According to Top Crypto Strategist

by Daily Hodl Staff
May 9, 2022
in Bitcoin, Trading

A closely followed crypto trader is unveiling what he believes is the most realistic price path for Bitcoin (BTC) for the rest of the year.

In a new strategy session, trader Kevin Svenson tells his 104,900 Twitter followers that he’s keeping an eye on the 20-month exponential average (EMA), which he says has been key in signaling reversals in the long-term trend of Bitcoin.

“When the price of an asset is on an uptrend and then it catches up with the long-term moving averages, usually that’s a sign that the trend is dying down. The momentum is lost. If you cross below them, that is a bearish signal.”

Svenson highlights that the 20-month EMA was a reliable indicator of major trend shifts during the 2014 and 2018 market cycles.

“That happened over here in 2014. If we go over here in 2018, [we had] a major run-up. Trend starts to go sideways after the run-up, and then we meet the long-term moving averages. We closed below that. It’s a bear market.”

Source: Kevin Svenson/Twitter

According to the crypto trader, Bitcoin just closed below the 20-month EMA which he says does not bode well for BTC bulls.

“We just had our first monthly close seven days ago below the 20-month EMA. That does indicate that we had a nice run-up, the trend started to go sideways and we caught up with the long-term moving averages. We actually closed below it at the end of April. 

When you catch up to the long-term moving averages, we’re likely going to see some kind of downtrend for at least four to two months. I would just say up to half a year, anywhere from two months to half a year of downside, sideways action at lower levels before running up into the next halving.”

The next Bitcoin halving is scheduled to happen in the first half of 2024.

Check Price Action

Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

 
Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Taves

Submit a Press Release

Industry Announcements

  • Wombat Soars to $40 Million in Total Value Locked While Still at Beta
    May 20, 2022
  • Babel Finance Used Collateralized eNote on FQX’s Solana DApp via Fireblocks
    May 19, 2022
  • Top Solana Play-to-Earn Contender DeFi Land Launches Its First Play-and-Earn Game
    May 18, 2022
  • Sneakmart Announces a Collaboration With StockX on Its First Metakicks Drop
    May 18, 2022
  • Everyrealm and Storyverse Partner To Create Interactive Stories for NFT Communities
    May 18, 2022
  • DoraHacks Raises $20 Million Led by FTX Ventures and Liberty City Ventures To Scale Its Global Web 3.0 Startup Platform
    May 18, 2022
  • BinaryX Unveils CyberArena – A New Play-To-Earn Experience
    May 18, 2022
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$29,007.00
$29,007.00
4.23%
Ethereum
$1,941.13
$1,941.13
4.04%
Cardano
$0.507331
$0.507331
5.78%
XRP
$0.408346
$0.408346
2.88%
Dogecoin
$0.083597
$0.083597
3.99%

Spotlight

  • Top Crypto Analyst Predicts Massive Price Dive for Cardano, Says One Solana-Based Altcoin Will ‘Go Down to the Basement’
    May 14, 2022
  • Nasty Recession Imminent, Warns Macro Guru Raoul Pal – Here’s His Outlook for Bitcoin, Ethereum and the Crypto Markets
    May 18, 2022
  • Terra (LUNA) Is a Case of Marketing and Memes Gone Wrong, According to FTX CEO Sam Bankman-Fried
    May 16, 2022
  • Richest Bitcoin Whale Splurges $90,000,000 on BTC in Less Than a Month Amid Crypto Market Tumble
    May 19, 2022

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2022 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • Email Alerts
  • DAILY HODL MIX

© 2022 The Daily Hodl