{"id":405829,"date":"2019-11-29T19:00:10","date_gmt":"2019-11-29T19:00:10","guid":{"rendered":"https:\/\/wncen.com\/?p=405829"},"modified":"2019-11-29T17:02:33","modified_gmt":"2019-11-29T17:02:33","slug":"perceived-bitcoin-value-outpaced-peak-crypto-bubble-mania","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/perceived-bitcoin-value-outpaced-peak-crypto-bubble-mania\/","title":{"rendered":"Perceived Bitcoin Value Outpaced Peak Crypto Bubble Mania"},"content":{"rendered":"<p class=\"p2\"><span class=\"s1\">It\u2019s been an interesting and confusing year for <a href=\"\/tag\/bitcoin-price\" rel=\"nofollow\">Bitcoin price<\/a>, with the crypto asset bottoming out in $3,100 at levels of extreme fear and panic, then in just a few months growing 350% and once again causing talk of moonshots and Lambos across the market.<\/span><\/p>\n<p class=\"p2\"><span class=\"s1\">In fact, during the most recent \u201cecho bubble\u201d as it\u2019s being called, the perceived value of Bitcoin exceeded that of the peak 2017 crypto bubble mania. However, price fell short of setting new high alongside the lofty price perception, and one analyst says that data point looks \u201cbad\u201d for Bitcoin, and says that prices of $2020 in the year 2020 aren\u2019t that \u201ccrazy.\u201d<\/span><\/p>\n<h2>Bitcoin Perceived Price Value Reaches Crypto Bubble Levels<\/h2>\n<p class=\"p2\"><span class=\"s1\">After a stellar year for <a href=\"\/tag\/bitcoin\" rel=\"nofollow\">Bitcoin<\/a>, bringing investors who bought the bottom over 350% in gains from trough to peak, the crypto market has once again turned bearish. Following the top of the 2019 parabolic rally back in June, the market has slowly returned to a state of fear, panic, and despair.<\/span><\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/wncen.com\/2019\/11\/28\/give-thanks-for-these-crypto-and-bitcoin-black-friday-deals\/\">Give Thanks For These Crypto and Bitcoin Black Friday Deals\u00a0<\/a><\/strong><\/em><\/p>\n<p class=\"p2\"><span class=\"s1\">But it was only a short time ago, that <a href=\"\/tag\/bitcoin\" rel=\"nofollow\">Bitcoin<\/a> was trading above $10,000 and talk of riches and $1 million dollar BTC became commonplace once again. It was as if crypto investors suddenly forgot about a full year of bear market, and all of the pain it caused.<\/span><\/p>\n<p class=\"p2\"><span class=\"s1\">The irrational exuberance can be seen via the <a href=\"http:\/\/www.sentix.de\/index.php\/en\/item\/sntb.html\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">sentix Strategic Bias index<\/a>, which assigns a score measuring the perceived price value of Bitcoin. The metric outpaces the hype and bias surrounding the peak of the 2017 crypto bubble, however, price failed to set a new high as well.<\/span><\/p>\n<p>https:\/\/twitter.com\/icoexplorer\/status\/58587904?s=21<\/p>\n<p class=\"p2\"><span class=\"s1\">The analyst who first called attention to this \u201cbad\u201d looking metric says that for \u201cperception of value to exceed the previous levels and price fall short&#8221; it says &#8220;that selling pressure was so high,\u201d and claims that that \u201chopium addict\u201d crypto investors \u201cprovided liquidity\u201d for boomers to unload their bags at a lot higher prices.<\/span><\/p>\n<p class=\"p2\"><span class=\"s1\">Because price perception so greatly outpaced the actual price in 2019, the analyst says that seeing prices of $2020 per BTC in the new year wouldn\u2019t be \u201ccrazy.\u201d<\/span><\/p>\n<h2>Calls For New Lows At Recent Top Would Be Called &#8220;Crazy,&#8221; Not So &#8220;Crazy&#8221; Anymore<\/h2>\n<p class=\"p2\"><span class=\"s1\">Given how exuberant crypto investors were at Bitcoin\u2019s recent peak, any talk of prices of $2,000 Bitcoin would have been met with much confrontation, calling such claims \u201ccrazy,\u201d especially considering how quickly the first-ever crypto-asset ran up from the then bottom at $3,100.<\/span><\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/wncen.com\/2019\/11\/28\/should-bitcoin-investors-be-thankful-its-thanksgiving\/\">Should Bitcoin Investors Be Thankful It\u2019s Thanksgiving?<\/a>\u00a0<\/strong><\/em><\/p>\n<p class=\"p2\"><span class=\"s1\">Now, that fear has returned to the market, and <a href=\"\/tag\/bitcoin\" rel=\"nofollow\">Bitcoin<\/a> is trading at prices back around the $6,000 range it has already once broken down from, thinking that the bottom isn\u2019t in and Bitcoin could reach prices around $2020 in 2020, doesn\u2019t sound so crazy anymore.<\/span><\/p>\n<pre>Featured image from Shutterstock<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>It\u2019s been an interesting and confusing year for Bitcoin price, with the crypto asset bottoming out in $3,100 at levels of extreme fear and panic, then in just a few months growing 350% and once again causing talk of moonshots and Lambos across the market. In fact, during the most recent \u201cecho bubble\u201d as it\u2019s being called, the perceived value of Bitcoin exceeded that of the peak 2017 crypto bubble mania. However, price fell short of setting new high alongside the lofty price perception, and one analyst says that data point looks \u201cbad\u201d for Bitcoin, and says that prices of $2020 in the year 2020 aren\u2019t that \u201ccrazy.\u201d Bitcoin Perceived Price Value Reaches Crypto Bubble Levels After a stellar year for Bitcoin, bringing investors who bought the bottom over 350% in gains from trough to peak, the crypto market has once again turned bearish. Following the top of the 2019 parabolic rally back in June, the market has slowly returned to a state of fear, panic, and despair. Related Reading | Give Thanks For These Crypto and Bitcoin Black Friday Deals\u00a0 But it was only a short time ago, that Bitcoin was trading above $10,000 and talk of riches and $1 million dollar BTC became commonplace once again. It was as if crypto investors suddenly forgot about a full year of bear market, and all of the pain it caused. The irrational exuberance can be seen via the sentix Strategic Bias index, which assigns a score measuring the perceived price value of Bitcoin. The metric outpaces the hype and bias surrounding the peak of the 2017 crypto bubble, however, price failed to set a new high as well. https:\/\/twitter.com\/icoexplorer\/status\/58587904?s=21 The analyst who first called attention to this \u201cbad\u201d looking metric says that for \u201cperception of value to exceed the previous levels and price fall short&#8221; it says &#8220;that selling pressure was so high,\u201d and claims that that \u201chopium addict\u201d crypto investors \u201cprovided liquidity\u201d for boomers to unload their bags at a lot higher prices. Because price perception so greatly outpaced the actual price in 2019, the analyst says that seeing prices of $2020 per BTC in the new year wouldn\u2019t be \u201ccrazy.\u201d Calls For New Lows At Recent Top Would Be Called &#8220;Crazy,&#8221; Not So &#8220;Crazy&#8221; Anymore Given how exuberant crypto investors were at Bitcoin\u2019s recent peak, any talk of prices of $2,000 Bitcoin would have been met with much confrontation, calling such claims \u201ccrazy,\u201d especially considering how quickly the first-ever crypto-asset ran up from the then bottom at $3,100. Related Reading | Should Bitcoin Investors Be Thankful It\u2019s Thanksgiving?\u00a0 Now, that fear has returned to the market, and Bitcoin is trading at prices back around the $6,000 range it has already once broken down from, thinking that the bottom isn\u2019t in and Bitcoin could reach prices around $2020 in 2020, doesn\u2019t sound so crazy anymore. Featured image from Shutterstock<\/p>\n","protected":false},"author":517,"featured_media":405831,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3],"tags":[428,6664,62940],"class_list":["post-405829","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-bitcoin","tag-crypto","tag-sentix-sentiment-bias-index"],"acf":[],"yoast_head":"\n<title>Perceived Bitcoin Value Outpaced Peak Crypto Bubble Mania<\/title>\n<meta name=\"description\" content=\"It\u2019s been an interesting and confusing year for Bitcoin price, with the crypto asset bottoming out in $3,100 at levels of extreme fear and panic, then in\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/news\/perceived-bitcoin-value-outpaced-peak-crypto-bubble-mania\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Perceived Bitcoin Value Outpaced Peak Crypto Bubble Mania\" \/>\n<meta property=\"og:description\" content=\"It\u2019s been an interesting and confusing year for Bitcoin price, with the crypto asset bottoming out in $3,100 at levels of extreme fear and panic, then in\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wncen.com\/news\/perceived-bitcoin-value-outpaced-peak-crypto-bubble-mania\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2019-11-29T19:00:10+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-11-29T17:02:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/11\/bitcoin-price-crypto-mania-bubble-shutterstock_768344710-860x573.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"860\" \/>\n\t<meta property=\"og:image:height\" content=\"573\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tony &quot;El Toro&quot; 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The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \\\"The Bull,\\\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \\\"The Bull\\\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. 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As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market. A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony\u2019s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements. Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \"The Bull,\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \"The Bull\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. 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