{"id":22759,"date":"2024-06-13T17:00:21","date_gmt":"2024-06-13T14:00:21","guid":{"rendered":"https:\/\/coinengineer.io\/?p=22759"},"modified":"2024-06-13T14:29:52","modified_gmt":"2024-06-13T11:29:52","slug":"bollinger-bitcoin-consodilation-and-future","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/bollinger-bitcoin-consodilation-and-future\/","title":{"rendered":"Bollinger: Bitcoin’s Consolidation and Future Moves"},"content":{"rendered":"

Financial analyst and developer of the Bollinger Bands<\/a>, John Bollinger<\/strong>, has offered his opinions on Bitcoin price swings.<\/p>\n

His remarks fall amid a period of notable volatility for the cryptocurrency industry.<\/p>\n

The price of bitcoin has seen significant swings during the last few weeks. Before abruptly declining more than 4%, it quoted roughly $70,000 and caused great market liquidation and trading panic. This decline came after a period of price consolidation during which Bitcoin seemed set for a fresh high.<\/p>\n

This Might Interest You: Federal Reserve Holds Rates Steady Amid Inflation Concerns<\/a><\/span>
\n<\/em><\/span>
\nBollinger<\/strong> addressed the market’s conviction that long stretches of consolidation might produce notable price increases. Drawing on an old market idea, “the bigger the base, the higher in space.”<\/em> he implied that a strong base phase could result in notable upside. Given the trend of the crypto market toward swings between fear and greed, this concept is very pertinent.<\/p>\n

“I wish I could remember the maxim: The bigger the basis, the higher… anyone?”<\/em><\/p>\n

His most recent remarks fit his earlier forecasts. One month ago, when Bitcoin was trading close to $70,000, Bollinger<\/strong> made hints of a likely price retreat. That forecast proved accurate when the price dropped to $67,000, where it is presently trading. The main concern currently is whether BTC will maintain this degree or experience more adjustments.Coin Market Cap converts BTC to USD.<\/p>\n","protected":false},"excerpt":{"rendered":"

Financial analyst and developer of the Bollinger Bands, John Bollinger, has offered his opinions on Bitcoin price swings. His remarks fall amid a period of notable volatility for the cryptocurrency industry. The price of bitcoin has seen significant swings during the last few weeks. Before abruptly declining more than 4%, it quoted roughly $70,000 and<\/p>\n","protected":false},"author":6,"featured_media":22766,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[552,6542,6822],"class_list":["post-22759","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin-price","tag-bollinger-bands","tag-john-bollinger"],"yoast_head":"\nBollinger: Bitcoin's Consolidation and Future Moves - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/bollinger-bitcoin-consodilation-and-future\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bollinger: Bitcoin's Consolidation and Future Moves - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Financial analyst and developer of the Bollinger Bands, John Bollinger, has offered his opinions on Bitcoin price swings. 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