Bitcoin in the News : 2020-02 More++

In last week's post, Bitcoin in the News : 2020-02 Price, I wrote,

I picked out four high volume periods worth investigating. Two were from the first, rising half of the month, two from the second, falling half.

For this post, I'll combine those four high volume periods with all of the February stories that I identified from Forbes. The stories through the day after a high volume period are grouped together.

05-Feb-20 16:00 +

• 2020-02-03: The Coronavirus Could See Bitcoin ‘Explode In Value’
• 2020-02-05: Jack Dorsey-Backed Lightning Labs Raises $10 Million To Build Visa Network For Bitcoin
• 2020-02-05: Bitcoin Prices Rise To Highest Since October
• 2020-02-06: Bitcoin Is Roaring Toward $10,000 But It’s Being Wrecked By These Other Cryptos
• 2020-02-06: Coronavirus Proves Bitcoin’s Value And Use Case For Good

11-Feb-20 16:00 +

• 2020-02-07: Stakes For Bitcoin Are Highest Since The 2017 Bubble
• 2020-02-08: Is Bitcoin Struggling To Reach $10,000?
• 2020-02-09: This Bitcoin Bull Run Is Extremely Different To 2017’s Epic Rally
• 2020-02-10: Bitcoin Is Heading For $11,000
• 2020-02-10: What's Next For Bitcoin After Its Drop Below $10,000?

19-Feb-20 20:00 -

• 2020-02-16: Blow To Bitcoin As ‘Significant’ U.S. Crypto Crackdown Suddenly Revealed
• 2020-02-16: Can All Of Bitcoin Be Hacked?
• 2020-02-18: Samsung Is Quietly Becoming A Major Bitcoin, Crypto And Blockchain Player

26-Feb-20 16:00 -

• 2020-02-21: The Surprising Way Millions Are Being Introduced To Bitcoin ['video-sharing app TikTok']
• 2020-02-22: A Fed Governor And Watchdog Boss Made A Serious Bitcoin And Crypto Warning [Randal Quarles, 'Chair of the Financial Stability Board and U.S. Federal Reserve governor']
• 2020-02-23: Binance CEO Makes Rare Price Prediction -- Says This Is When To Buy Bitcoin
• 2020-02-25: The Biggest Threat To Bitcoin Is Back On Track [Facebook's Libra]
• 2020-02-27: Bitcoin Has Crashed -- Now What?
• 2020-02-28: Remember When Bitcoin Was Supposed To Be Good As Gold? It Isn’t

All of the groups, except the third, have a story covering the high volume period. The story dated 2020-02-27 in the last group says,

Bitcoin and the wider cryptocurrency market crash comes as global stocks go into meltdown due to the coronavirus spreading around the world.

It relates to two coronavirus stories in the first group (which are positive for bitcoin) plus the last story in the fourth group (negative for bitcoin). The month of March should provide more evidence supporting one side of this difference of opinion.

Bitcoin in the News : 2020-02 Price

In last month's price post, Bitcoin in the News : 2020-01 Price, I wrote

In January, the price was up, up, and away.

As Cointelegraph's February price chart shows, that trend continued until mid-month, then reversed direction.

Bitcoin (BTC) Price Index

I picked out four high volume periods worth investigating. Two were from the first, rising half of the month, two from the second, falling half:-

05-Feb-20 16:00 +
11-Feb-20 16:00 +
19-Feb-20 20:00 -
26-Feb-20 16:00 -

Cointelegraph's Analysis category flagged nothing significant to account for those periods of interest, so I turned to the service's Price Analysis tag. As usual, the discussions were based on technical analysis.

• 2020-02-07: Price Analysis Feb 7: BTC, ETH, XRP, BCH, BSV, LTC, EOS, BNB, ADA, XTZ • 'The institutional investors have maintained their bullish stance on Bitcoin. Though the spot price is yet to hit $10,000, CME Bitcoin futures have already reached the five-figure mark.'
  
  
• 2020-02-12: Price Analysis Feb 12: BTC, ETH, XRP, BCH, BSV, LTC, EOS, BNB, XTZ, ADA • 'The bulls are attempting to push Bitcoin above the overhead resistance at $10,360.89. If successful, a rally to the long-term downtrend line at $11,500 is possible. The upsloping moving averages and the RSI in positive territory show that bulls have the upper hand.' [RSI = Relative Strength Index]

In retrospect, that looks like happy talk. Aren't the bulls and the bears all reading the same charts?

• 2020-02-21: Price Analysis Feb 21: BTC, ETH, XRP, BCH, BSV, LTC, EOS, BNB, XTZ, LINK • 'Contrary to our assumption, if the bulls fail to push the price above $10,500, the bears will make another attempt to sink the price to the critical support at $9,097.15. If this support breaks down, the advantage will turn in favor of the bears.'
  
  
• 2020-02-26: Price Analysis Feb 26: BTC, ETH, XRP, BCH, BSV, LTC, EOS, BNB, XTZ, ADA • 'The equity markets sold off sharply on Feb. 24 and 25. Even gold, a traditional safe-haven has stalled its rally. On similar lines, cryptocurrencies are also witnessing a period of correction.'

The word 'correction' implies a general uptrend. What happens when a 'correction' becomes 'capitulation'? In the case of bitcoin, everyone might simply walk away.