Gainesville, Ga.— The cryptocurrency markets are known for volatile price swings that present heightened risks and opportunities for investors. To help speculators make sense of recent price action in the major cryptocurrency issues and anticipate the markets’ most probable coming moves, Elliott Wave International has announced that it will host a special cryptocurrency forecasting webinar on Friday, February 26 at 2 p.m. Eastern.
The presentation, available to the firm’s Cryptocurrency Pro Service and Global Market Perspective subscribers, will feature forecasts for Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ripple, EOS and Monero. Attendees will also have an opportunity to pose questions to the company’s lead cryptocurrency analyst during a Q&A session.
Cryptocurrency investors have become well acquainted with elevated volatility over the past 12 months. Bitcoin, for instance, fell 60% from mid-February to mid-March last year and then soared 1,320% into its high earlier this month before dropping more than 20% in two days.
“Dramatic moves in the crypto markets have captured the attention of experienced traders and novices alike,” said Jason Lureman, a market manager at Elliott Wave International. “We felt the time was right to host a special event to introduce participants to our method of market analysis and give them a roadmap for where we think the cryptos are likely to go next.”
Elliott Wave International, the world’s largest independent technical market analysis firm, first wrote about cryptocurrencies in September 2010, telling subscribers that Bitcoin was “the future of money.” Back then, Bitcoin traded at 6 cents. The coin’s price has since advanced a whopping 80,270,620%, meaning a dollar invested in Bitcoin in September 2010 would be worth more than $800,000 today.
But the firm’s analysts have caught significant moves to the downside in the crypto markets as well. In a December 21, 2017 interview with Newsmax, an EWI analyst said of Bitcoin, “I wouldn’t touch it. The risk of collapse is too great.” The coin fell 32% over the next day and would lose more than 81% over the next year.
More recently, this past Sunday, EWI’s cryptocurrency service told subscribers to be “on alert for a reversal” in Bitcoin. The coin then fell more than 20% in 48 hours.
Of course, forecasting is always a matter of probabilities. “The market forecasting method that never makes mistakes doesn’t exist,” said Lureman. “But we find Elliott waves to be especially useful when emotion runs high in markets. That’s when our analysts tell us the wave patterns often become clearest.”
The recent volatility in the crypto markets suggests emotion is running high indeed.
Interested readers can learn more about Elliott Wave International’s Cryptocurrency Pro Service and register for the upcoming webinar through the company’s website.
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For more information about Elliott Wave International, contact the company here:
Elliott Wave International
Robert Prechter
800-336-1618
customercare@elliottwave.com
PO Box 1618
Gainesville GA 30503
USA
