{"id":428736,"date":"2020-06-27T23:30:33","date_gmt":"2020-06-27T23:30:33","guid":{"rendered":"https:\/\/wncen.com\/?p=428736"},"modified":"2024-06-11T14:04:28","modified_gmt":"2024-06-11T14:04:28","slug":"bitcoin-bull-white-swan-pandemic","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-bull-white-swan-pandemic\/","title":{"rendered":"Bitcoin Bull Run Was Here, But White Swan Pandemic Put It On Lockdown"},"content":{"rendered":"

At the start of 2020, Bitcoin<\/a> was trading above $10,000 for the first time since June 2019. Several indicators and sentiment suggested a new bull market was underway.<\/p>\n

But the “white swan” pandemic that put the world on lockdown, also put a stop to Bitcoin’s momentum. And according to a new tool developed by a respected crypto analyst, it may take another couple of months to get back there.<\/p>\n

White Swan Pandemic Causes Widespread Crypto Market Chaos<\/h2>\n

Major US stock indices were setting records for the highest price ever traded in February 2020. At the same time, there was a renewed interest in cryptocurrencies.<\/p>\n

The decentralized finance movement brought Ethereum to a record-string of weekly positive closes, and Bitcoin reclaimed $10,000.<\/p>\n

But in Wuhan, China, an outbreak was spreading rapidly, threatening the rest of the global economy. By the time early March rolled around, investors began to brace for the worst.<\/p>\n

Related Reading | BTCUSDPlunges Below Crucial $9,000 Support; What Analysts Think Comes Next<\/a><\/strong><\/em><\/p>\n

The “white swan” event of a pandemic taking many by surprise, caused a shocking selloff now referred to as Black Thursday.<\/p>\n

Stock markets went from setting records for highs, to setting a record for the worst quarterly close on record. BTCUSD crashed over 50% in under 48 hours. Other cryptocurrencies flash crashed to zero.<\/p>\n

Even gold and other precious metals collapsed under the weight of the selloff.<\/p>\n

Months later, neither the stock market nor Bitcoin have been able to reclaim those highs. And according to new data, it may take a few more months to get there.<\/p>\n

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This is a new model I'm working on, it picks the start of exponential bull runs.<\/p>\n

1) Bitcoin was setting up for a bullish run until the COVID white swan killed the party. <\/p>\n

2) This model suggests we are close to another bullish run. Maybe another month to go. pic.twitter.com\/wmoEdMVywF<\/a><\/p>\n

— Willy Woo (@woonomic) June 27, 2020<\/a><\/p><\/blockquote>\n