Tag: BTC

  • The Bitcoin price may rise towards $8,000 next week?

    The Bitcoin price may rise towards $8,000 next week?

    The Bitcoin price may rise towards $8,000 next week
    Bitcoin rose above $7.402 and market cap moved upward by +0.89% to $137.68 billion

    The Bitcoin price may rise further since it has continued being above the level of $7,000. That is important not from psychological only. Over the weekend, it traded between the $7.100 and $7.200 and by now has grown to reach a bit over $7.402 according to the Coindesk and at the moment of writing,

    The weekend began with cryptocurrencies retracing, but it ended with a rally. Bitcoin (+4.5%), Bitcoin Cash (+4.14%), Ethereum (3.7%), and Litecoin(+4.73%) were the best among the top ten cryptos.

    That caused crypto analysts to be hopeful about the short-term price action of Bitcoin. One of them suggests a price range to which Bitcoin may rise this week.

    @CryptoMichNL wrote:

    “Currently at potential local resistance. Wouldn’t be surprised with the continuation of ranging for the coming days, before we make another push to $7,800-8,000 resistances later next week.”

    Today ( December 23) followed by another tweet:

    Last week, the famous investor and BTC bull Tim Draper had stood by his previous forecast about Bitcoin popping $250,000 by the end of 2022 or by early 2023.

    And CNBC’s crypto expert Brian Kelly said that technically this price action is possible and described how it could befall.

    Brian Kelly said:

    “It sounds bizarre but it wouldn’t be out of the realm of what Bitcoin has done in the past.”

    Kelly showed a chart of Bitcoin price movements since 2013 and pointed out that since then Bitcoin price has been moving within a rising channel. The top of that channel, Kelly says, is right about $200,000 – $250,000.

    As for the fundamentals that could lead to this price leap, Brian Kelly calculated that by late 2022 or early 2023, Bitcoin could take half of the market share from all the world’s gold and by that time the market cap of Bitcoin should be almost $4,5 trillion.

     

    If that arises, Kelly said, Tim Draper’s prediction “isn’t too far out of whack.”

    The Bitcoin market cap moved upward by +0.89% to $137.68 billion and trading volume is at $27.23 billion.

    Bitcoin dominance increased lightly and is now 68.65%.

    Bitcoin has broken the sideways movement after the bullish impulse that made last December 18. The price moved up from $7,150 to exceed the $7,650 value but fall again to $7.402.

    This $500 movement was the confirmation of the trend reversal that was expecting. Will the move proceed until it touches the upper descending trendline at $7,800? We’ll see.

  • BTC Price Will Surge Again

    BTC Price Will Surge Again

    2 min read

    BTC Price Will Surge Again

    Yes, the Bitcoin prices displaying a massive drop on Tuesday. Well, there is good news too. Crypto investors continue bullish! So the BTC price will surge again.

    As BTC recorded a huge fall and fell about 13%, investors and traders persist optimistically. They expect the bull market to recover quickly.

    Bitcoin price made a sharp drop yesterday (September 25) falling almost 16%. The daily open was at $9,691 but recorded a new low at $8,164. The price support was broken at $9,090 leaving the area that it has been trading in since June.

    In doing so, price broke strong support at $9,090 and exited the area that it has been trading in since June. Bitcoin’s price action continues bearish under this scope.

    But nothing is finished. Today’s chart (at the time of writing) shows some uptrend. A small one but still.

    The larger picture reveals regular price action with prior corrections. 

    You wouldn’t like to miss this: MONETIZING BITCOIN

    Traders-Paradise wrote about the second-largest German exchange in Stuttgart which started Bitcoin trading. Also, Bakkt starts and SoFi, a finance management firm is launching a crypto trading platform. 

    Are people still micro wise? Well, not all thankfully. BTC price will surge again.

    The BTC/USD pair is trading at the $8,407 after hitting a low at $8,125. In the past two days, the price has passed below the SMA200. Dangerous? Yes, but the typical race for Bitcoin. For unexperienced in Bitcoin, the bullish momentum will continue as long as the daily close is above the long term average. The indicator stays on the bullish side of the indicator. You can check it.

    BTC/USD needs strong support levels, instead, it may fall even more since BTC/USD had another heavily bearish day on Wednesday. The disturbing element is that the daily confluence indicator doesn’t show any support levels until $8,100.

    But even if it goes lower its still a good entry for longs. It is expected the volume further fails on a macro scale. But the price may consolidate if the trading starts again.

    Bitcoin’s price is a distraction from the value.  Everyone was yelling about Bitcoin’s drop past two days. What is about today? It has recovered.

    Don’t judge based on hash rate data. It is an estimation. It isn’t exactness. Until traders start to trade it again the price of Bitcoin may stay on the low level. The point is, Bitcoin may drop slightly more in the next few weeks, with frequent ups and downs but to the end of the year, it may surge again, and more than anyone can expect. That’s the nature of Bitcoin and the beauty of the game

  • Christine Lagarde as an EBC head: Good or bad for cryptocurrencies future?

    Christine Lagarde as an EBC head: Good or bad for cryptocurrencies future?

    2 min read

    Christine Lagarde

    Christine Lagarde, a new ECB head is remarkably pro-crypto. 

    Investors and advocates of Bitcoin and the crypto markets have long held that the zenith of adoption the crypto would come when authorities and central banks started becoming friendly towards the new technologies.

    The new head of the European Central Bank (ECB)  Christine Lagarde is pro-crypto. Can it be good or bad for cryptocurrencies?

    Previously, she has shown a huge interest in crypto and how the new tech can help develop tomorrow’s overall economy.

    Will this help to promote acceptance of cryptocurrencies?

    Christine Lagarde has promoted for state-backed digital currencies.

    She said it could improve the capability of such state’s economy.

    “I believe we should consider the possibility to issue digital currency. There may be a role for the state to supply money to the digital economy,” she told at the Singapore Fintech Festival Nov. 14.

    If done correctly, central bank-issued digital currencies could “could satisfy public policy goals,” she noticed, specifically “financial inclusion,” “security and consumer protection,” and “privacy in payments.”

    During the speech in Singapore, Lagarde meantime persisted on the “downsides” of CBDCs, too

    “I would also like to highlight the risks of stifling innovation — the last thing you want. My main point will be that we should face these risks creatively.”

    We must be honest, the new ECB boss is more open to centralized crypto selections than to decentralized ones, like Bitcoin. She has supported already for state-backed cryptocurrencies and tokens like XRP and JPM coin. Maybe, she just needs more encouragement. We will see. It isn’t possible for any traditional bank to support the crypto, but to embrace its existence and allow using in transactions would be very useful, both for the bankers and crypto-owners.

    Lagarde supports

    Last year, in February, Lagarde in an interview for CNNMoney said that “the trend showed a “herd mentality” of those looking for high yield products as well as an element of speculation.”

    Lagarde continued that this trend was also fired by “dark activity.” That was explained by the potential for cryptocurrencies to be “used for money laundering and other illegal online activities due to their anonymous nature.”

    We can’t argue with this opinion because it is true. But, also, the regulation would be helpful. The difficult part, someone can think, is how to provide for crypto to remain anonymous and regulated. Well, it isn’t too hard. The hard part is how to avoid dark activity. Fiat showed less capability.

    Lagarde has said that Bitcoin and other cryptocurrencies could develop financial markets. She especially pointed to the speed and security of transactions. 

    We are sure that Lagarde’s main interest will not be the adoption of cryptocurrencies. She will have some bigger difficulties in the EU monetary system and economy. But, also, we have to notice that Lagarde is opened toward new technologies such as blockchain and it is very good. It can be promising for the crypto in the future. Christine Lagarde on the head of the ECB can have a very positive influence on the crypto industry and market in whole. 

    For now, for those of us who truly believe that the future for cryptos is coming, it is good news that Christine Lagarde’s opinions about Bitcoin are positive. 

  • Bitcoin is ready for further increases

    Bitcoin is ready for further increases

    2 min read

    Twitter CEO Jack Dorsey thinks Bitcoin will be the Currency of the Internet
    The last month was very good for the crypto markets.

    Bitcoin showed the ability to climb into the $5,000 area. There was no important selling pressure and that fact can encourage traders that have to expect BTC to see further gains in the near-future.

    Just make comparison with Bitcoin’s last month close with the one seen in 2015, actually in October 2015. That was succeeded by a bull run.

    This question was opened recently.  A leading cryptocurrency trader revealed that eerie lines are shown today, the similar to 2014/2015 during the bear season.

    Bitcoin approaches $5,400.

    Today, 2 May,  Bitcoin is trading under 1% at its prevailing price of $5,375.

    But take a look at the time frame of one week.

    Bitcoin has grown from its lows of $5,100.

    And after really disturbing news.

    What happened?

    New York regulators shook the crypto world with the declaration that  BitFinex, one of the leading crypto exchanges, had cheated investors.

    The regulators claimed that Bitfinex employed its own “dollar-backed” stable coin, Tether, to mop $850 million in missing funds and put it under the carpet.

    The news like this one caused great drops in Bitcoin’s value. But today, this crypto shows differently attitude.

    After the news was published and widespread, BTC dropped a poor 10%. Moreover, it proceeds to escalate back towards its highs of over $5,600.

    Besides, Bitcoin posted a green monthly candle. For many analysts it is bullish.

    For example, DonAlt, a cryptocurrency analyst, tweeted about BTC’s monthly close.

    Bitcoin is ready for further increases

    And there were more very interesting events about Bitcoin in the past weeks.

    For example, TD Ameritrade allowed BTC trading, also, eTrade added BTC and ETH. Oh, yes, Samsung is going to create its own token. And maybe the most important, the French government decided the banks have to support crypto.

    So, the similarities between Bitcoin’s April of 2019 close and its October of 2015 close, are notably similar.

    So, the conclusion can be that after April’s close will be followed by a massive bull run. But it would require a massive entrance of the money. Are we ready for that?

    Only in that way, BTC’s price would hit $330k in the next few years said the analysts.

    Bitcoin continues in an uptrend. So it is likely to rise towards the $5,500 level in the coming sessions, very soon.

    According to newsbtc.com, in the past three sessions, there was a steady rise above $5,280 in bitcoin price against the US Dollar.

    The BTC/USD pair reached traction above the $5,300 resistance.

    It is above the 100 hourly moving average. The price went up over the $5,340 level and traded at $5,359.

    A break above the $5,360 level may open the ways for a potentially the $5,400 level. The next main resistance is near the $5,450 level. That is a point where sellers may arrive. The prevailing price action is positive and, therefore it could be more gains above $5,360.

    If a downside change appears, the bulls have to protect $5,280 or $5,250.

    Well, it is almost impossible that the next bull run can be the same as in 2015.

    But an entrance of money from corporations may be sufficient to feed the new parabolic upwards move.

    That is what many investors are expecting.

    BTC is at above $5,400 this morning. The consolidation continues.

    Don’t waste your money!

    risk disclosure

  • Bitcoin experienced a distinct decline in its volatility!

    Bitcoin experienced a distinct decline in its volatility!

    1 min read

    Crypto-Endorsements Gone Sour | A Celebrity Special

    Bitcoin experienced a distinct decline in its volatility during a period in which the volume of the largest cryptocurrency achieved a new yearly low. The volume of Bitcoin dropped from $4.2 billion to $3.2 billion on October 7, by more than 23 percent. Since then, the volume of BTC has recovered substantially, back to $4.2 billion, but it still remains substantially lower than previous weeks. The overall decline in trading activity in the cryptocurrency exchange market due to the uncertainty in the short-term price trend of Bitcoin is said Bitcoin experienced a decline in volatility.

    Mike McGlone, a commodity strategist, stated that as the cryptocurrency market matures, the rate of Bitcoin volatility will continue to rapidly decline. He explained that an emerging asset class often sees a large discrepancy in its daily price movements and volatility in volume until it finds strong infrastructure to support and solidify its market.

    “This is a maturing market, so volatility should continue to decline. When you have a new market, it will be highly volatile until it establishes itself. There are more participants, more derivatives, more ways of trading, hedging, and arbitraging.”

    Since August 9, the price of Bitcoin has remained relatively stable in the range between $6,400 and $6,800. In the middle of September, BTC surpassed the $7,000 mark, but the asset has shown no signs of solid momentum, mostly due to the lack of volume in the cryptocurrency exchange market. After that, on October 6, the cryptocurrency exchange market recorded its lowest daily volume in over 12 months. That occasion made traders be concerned regarding the short-term trend of the market.

    Stability of bitcoin

    The stability of BTC allowed investors in the market to initiate an accumulation phase in a low price range, enabling more investors to enter the market and acquire BTC. That’s why is so important for Bitcoin to experience a decline in volatility.

    The eminent venture capital investor Garry Tan, said, a low price range helps investors enter a new market or an asset class with significantly less risk: 

    “The crypto winter generally makes it safer for super-long-term oriented Yale-model institutions to enter at a price that isn’t dangerous. You know what is scary? Investing and then immediately seeing an 80% drop. That is hard to recover from.”

    It is surprising that the cryptocurrency market is not reacting to many of the positive developments that have emerged in the sector over the past few months.

    The Reaction of the market 

    Bitcoin experienced a distinct decline in its volatility!

    It is possible, that the market will begin to respond to most of the progress that has been made in the sector over the last three months. Bitcoin has not shown a high level of stability in a long period of time. Considering that Bitcoin has recovered beyond its previous high point, it is more likely for it to move to the upside.

    Many analysts and traders in the cryptocurrency market stated that extended periods of stability and consolidation often lead to a strong upside movement.

    Generally speaking, when you’re analyzing charts, higher highs and higher lows are the indicators of a positive move up. Lower highs are not pointed where you can expect a rally. However, we are speaking about Bitcoin and it is so unpredictable.

    Investor Mike Novogratz has emphasized $6,800 as a major resistance level for Bitcoin throughout the past month, and if it comfortably surpasses that level, then it will be able to eye resistance levels in span $7,000 and $8,000.

    If Bitcoin breaks out of the $6,800 mark relatively quickly, Novogratz said it is possible for Bitcoin to demonstrate a 30 percent increase in price by the end of the year.

    The question is if this the right time to start accumulating Bitcoin?

    On the end of August, when the price of BTC was around $6,600, we all can read expert’s statements that the bear market is not over yet but it is a viable period for new investors in the space to start accumulating Bitcoin.

    Following that opinion, it is highly unlikely for Bitcoin to decline far below its current price range and we may conclude that it is an appropriate time to start accumulating BTC.

    Risk Disclosure (read carefully!)