Market

  • Bitcoin price will hit $200k in cycles: Bobby Lee

    China’s cryptocurrency exchange’s founder, Bobby Lee, has expressed that the Bitcoin price will likely hit two hundred thousand dollars ($200K), albeit in cycles. He believes that Bitcoin price would be experiencing what he called “boom-and-bust days” and crypto assets would make their way to mark. Would the Bitcoin price hit $200k? Crypto enthusiasts have always believed that someday Bitcoin price would be worth the trouble and Bitcoin would turn into a fortune. Previously, various analysts have provided with their predictions; some gave long-term predictions, and some gave short term predictions. Bobby Lee has also joined this league of enthusiastic analysts. He reportedly stated that people should not have felt doom-and-gloom as there is more to come. He further stated that many cycles are to come, and any cycle could take the price of Bitcoin to unprecedented heights. He seemed confident about his claim that in a short period, the Bitcoin investment could exceed twenty thousand dollars to fifty thousand dollars ($20,000 – $50,000). He believes that the Bitcoin price would then move to a hundred thousand dollars ($100,000) and even…

    Sep 16, 2019
  • Key Technical Indicator Signals Bitcoin is Gearing Up for a Big Move

    After inching higher yesterday, Bitcoin faced a somewhat strong rejection at just above $10,400, which has brought the cryptocurrency down towards its next key support level at $10,000. A failure for bulls to hold this level could mark a short-term trend shift that sends BTC significantly lower. It is now important to note that one key technical indicator is pointing to the possibility that Bitcoin is gearing up for a massive movement, which means that the direction it will trend for the last several months of 2019 could soon grow increasingly clear. Bitcoin Inches Lower After Facing Rejection at $10,400  At the time of writing, Bitcoin is trading down nominally at its current price of $10,330, which marks a slight drop from its 24-hour highs of nearly $10,500. Bitcoin’s rejection at this price level signals an underlying weakness for the crypto’s bulls, as they were not able to advance the crypto’s price to its heaviest near-term resistance level at $10,800. Chonis Trading, a popular crypto analyst on Twitter, explained in a recent tweet that one indicator is pointing to the…

    Sep 16, 2019
  • Analyst Says More People Will Buy Bitcoin as Equity Markets Climb

    Bitcoin’s price action has grown stagnate in the lower-$10,000 region over the past several days, which has proven to be a positive thing for multiple major altcoins, as they were able to post large gains yesterday with Ethereum leading the way. Now, one analyst and a prominent Bitcoin bull is explaining that he believes BTC will continue to range sideways until the global economy sets a clear trend, which he claims will be defined by a decisive movement in the equities markets. Bitcoin Stagnates Around $10,000  At the time of writing, Bitcoin is trading down marginally at its current price of $10,320, which comes about after it faced a slight rejection around the $10,400 level yesterday. BTC’s inability to move up towards its major resistance level at $10,800 signals that bulls may be growing increasingly weak, but its near-term trend will not become abundantly bearish unless it decisively breaks below $10,000. As for why Bitcoin’s price action has stalled as of late, Tom Lee, the co-founder of Fundstrat Global Advisors and a notable Bitcoin bull, explained in a recent interview…

    Sep 15, 2019
  • Bitcoin Price Chart Gives Hidden Bearish Signal on Daily

    Bitcoin price has been consolidating in a tightening range for the better part of the last three months, and the crypto community has been watching and waiting for the first-ever crypto asset to make its next move and choose the trend for the coming year ahead. Bulls have been unable to push the price to new highs, but bears have equally failed to bring Bitcoin under support in the low $9,000 range. However, a hidden bearish signal just appeared on Bitcoin’s daily chart, and it could indicate that bears may finally win the battle for the short term. Hidden RSI Bearish Divergence on Bitcoin Price Daily Chart Crypto analysts and Bitcoin traders often perform detailed technical analysis in order to help them spot trend changes, or predict future price movements. In addition to drawing lines and shapes on charts, these analysts often couple that with the addition of helpful indicators and oscillators that further assist in determining a trading strategy. One of the more popular indicators, especially for Bitcoin, the relative strength index, is giving off a “hidden” bearish signal…

    Sep 11, 2019
  • Ethereum Price (ETH) Could Breakdown In Short Term, Bitcoin Down 3%

    ETH price is struggling to continue to move higher above the $185 resistance against the US Dollar. The price is likely to decline if bitcoin continues to struggle below the $10,250 level. There is a connecting bearish trend line forming with resistance near $182 on the hourly chart of ETH/USD (data feed via Kraken). The price remains at a risk of more downsides as long as the price is below $185. Ethereum price is struggling to gain strength above $185 versus the US Dollar since bitcoin is declining. ETH price could spike below the $180 support in the near term. Ethereum Price Analysis In the past two days, ETH price made two attempts to surpass the $185 resistance against the US Dollar. However, bitcoin price struggled to climb higher above the $10,350 and $10,400 resistance levels. As a result, Ether price also started showing a few bearish signs below the $185 resistance. On the positive side, the price is holding the main $178 and $180 support levels. The last swing low was formed near the $177 level. The price is…

    Sep 11, 2019
  • Ethereum Price (ETH) Looks Set To Continue Higher

    ETH price is showing positive signs above the $180 pivot level against the US Dollar. The price is likely to continue higher above the $184 and $185 resistance levels in the near term. There is a key bullish trend line forming with support at $178 on the hourly chart of ETH/USD (data feed via Kraken). The price could correct a few points, but it remains supported near $178 and $175 in the near term. Ethereum price is gaining momentum above the $175 level versus the US Dollar, while bitcoin is consolidating. ETH price is likely to continue higher above $185. Ethereum Price Analysis In the past few sessions, ETH price remained well bid above the $170 support against the US Dollar. However, bitcoin price remained in a range above the $10,200 support area. Ethereum price is showing positive signs and is trading nicely above the key $175 support area. Moreover, there was a break above the $180 level and the 100 hourly simple moving average. The last swing high was formed $186 and it is recently corrected lower. There was…

    Sep 10, 2019
  • Bitcoin Price at 35% Premium to “Fair Value”; Will BTC Return to $7,500?

    Over the past week, Bitcoin (BTC) has managed to embark on a strong recovery, gaining some 10% after a brutal drawdown to $9,300. Despite this, one indicator says that the cryptocurrency is still well overvalued, potentially by upwards of 35%. But does that mean Bitcoin is going to fall to its “fair value”? No, unlikely not. Here’s why. Bitcoin Price Above “Fair Value”  Due to the fact that Bitcoin doesn’t generate cash flow, provide dividends, have a fixed yield, or abide by any other traditional instrument’s premise, investors have long struggled to fairly value the cryptocurrency. The best idea so far has been to give Bitcoin a “fair value” that is derived from its utility as a network, one that can accept and settle global payments for anyone with access to the Internet. According to Bytetree, a crypto analytics firm, this fair value is defined by the following equation: Fair Value = Network Value to Transaction Ratio (historical average) x Transaction value (12-week) divided by the adjusted supply of BTC. Their fair value model shows that Bitcoin’s premium was at 35%…

    Sep 9, 2019
  • Altcoins See Slight Uptick While Bitcoin Is Stuck Around $10,400

    Sunday, Sept. 8 — The price of Bitcoin (BTC) is holding around the $10,400 price mark, while altcoins are showing slight gains across the board. Market visualization. Source: Coin360 Bitcoin has shown little price movement in the last 24 hours, hitting an intraday high of $10,580 while stabilizing close to $10,400 for the last part of the day. At press time the world’s most popular cryptocurrency is trading at $10,381, down 1% on the day. Bitcoin’s 24-hour price chart. Source: Coin360 During the weekend, Bitcoin seems to have lost some of its traction with what some call a classic “buy the rumor, sell the news” reaction to Bakkt’s soft launch of its digital-asset custody warehouse. In a “buy the rumor, sell the news” trade, investors buy an asset expecting a positive outcome from a certain event in the future. However, when the actual event takes place it often does not impact the price, which subsequently drops back to its original levels. When Bakkt tweeted about its soft launch opening, Bitcoin’s price fell from $10,900 to $10,200. The number one altcoin…

    Sep 9, 2019
  • eToro Senior Analyst Mati Greenspan’s 3 Favorite Crypto Picks – CCN.com

    eToro senior markets analyst Mati Greenspan isn’t one to mince words. When responding to a query on entry-level crypto investing, the portfolio manager didn’t hesitate to point out the top three cryptocurrency choices that are currently piquing his interest: Hi Paul. My top three favorite cryptos right now are BTC, LTC, & BNB. This is not trading advice. I don’t know the future. Also, my personal portfolio & opinions tend to shift over time. That said, diversification is key and you should always explore other markets as well. https://t.co/90w0awa6Wa — Mati Greenspan (@MatiGreenspan) September 8, 2019 Greenspan’s favorite three coins for the long term include the likes of bitcoin, Litecoin, and Binance Coin. He also told CCN the reason behind one of his surprising picks.  Let’s briefly run through some fundamentals and see how his picks stack up. Bitcoin (BTC) Bitcoin is the no-brainer on this list. Crypto’s flagship currency couldn’t be healthier. The number of resources committed to its network, or hash rate, continues to climb to record-breaking heights. It’s combined computing power is rapidly approaching the 90 million tera…

    Sep 9, 2019
  • Bitcoin Price Shown Alongside Dollar and Euro in Square: Gone Mainstream

    Ever since Bitcoin (BTC) was birthed, its early adopters have dreamed of a world where cryptocurrency is the go-to medium of exchange, not fiat currencies. But, ten years since Bitcoin was released, this dream has not been had. Related Reading: Bitcoin Pioneer Adam Back: BTC Price at $50,000 “Not Far Off” Cryptocurrency pundits on Twitter estimate that less than 1% of the world’s population know anything material about this technology; Bitcoin itself processes much less than 1% of all digital transactions (Amazon alone purportedly processes over 300 transactions a second) that take place each and every day. But, there is increasing evidence that the digital asset is going mainstream slowly at first, then all at once. Bitcoin Going Mainstream Didi Taihuttu is the Dad of the renowned Bitcoin family, who famously sold all their worldly possessions for the cryptocurrency a number of years back. Since then, they have been traveling the world to promote this industry and show how it’s possible to live off cryptocurrency. The Taihuttus recently set down in Turkey. And interestingly, they found that there, Bitcoin has…

    Sep 9, 2019
  • Ethereum Pumps Past $180, But It Could Be a Fake-Out

    Ethereum (ETH) incurred a significant amount of upwards momentum yesterday that came about after the aggregated altcoin market posted some decent gains that led many cryptos to surge 5% or more. Importantly, this surge may ultimately be fleeting, as one analyst is noting that ETH has “fake pumped” on multiple occasions as of late, with each pump being followed by lower lows. Ethereum Surges Past $180  At the time of writing, Bitcoin is trading up nearly 5% at its current price of $182.45 and is up significantly from its daily lows of just over $170 that were set yesterday. This explosive movement upwards led ETH to highs of just under $185, which was a previous level of major support for the crypto that has likely flipped into a resistance level. As it slowly approached this level, it is highly likely that any movement above this level could lead to a swift rejection or could spark a short-term uptrend. The Crypto Dog, a popular cryptocurrency analyst on Twitter, recently spoke about ETH, noting that it is currently trading within a falling…

    Sep 9, 2019
  • Ethereum Price (ETH) Struggling Near 100 SMA While Bitcoin Consolidating

    ETH price extended its decline and tested the $170 support area against the US Dollar. The price is currently correcting higher, but it is struggling to break the $175 resistance area. There was a break above a major declining channel with resistance near $173 on the hourly chart of ETH/USD (data feed via Kraken). The bulls need to push the price above $175 and the 100 hourly simple moving average. Ethereum price is facing hurdles near $175 versus the US Dollar, while bitcoin is consolidating. ETH price could decline again before it attempts a fresh increase. Ethereum Price Analysis Yesterday, we saw a bearish reaction in ETH price below the $178 level against the US Dollar. However, bitcoin price remained well bid above the $10,400 and $10,500 support levels. Recently, Ethereum price extended its decline below the $175 level and the 100 hourly simple moving average. Moreover, there was a break below the $172 level and the price tested the $170 support area. A swing low was formed near $170 and the price is currently correcting higher. It traded above…

    Sep 6, 2019
  • Ripple Price (XRP) Facing Hurdles While Bitcoin Remains Supported

    Ripple price extended its decline and traded towards the $0.2520 level against the US dollar. The price is currently correcting higher, but it is facing resistance near the $0.2570-$0.2580 area. There is a key bearish trend line forming with resistance near $0.2565 on the hourly chart of the XRP/USD pair (data source from Kraken). The price remains at a risk of more downsides if it fails to stay above the $0.2520 and $0.2500 supports. Ripple price is trading in a bearish zone against the US Dollar and bitcoin. XRP price could bounce back if it stays above the $0.2520 support area in the near term. Ripple Price Analysis Yesterday, we saw a fresh drop in XRP price from the $0.2650 resistance against the US Dollar. The price mostly followed a bearish path below the $0.2620 and $0.2600 levels. Moreover, there was a close below the $0.2600 level and the 100 hourly simple moving average. Ripple extended its decline below the $0.2580 level and traded close to the $0.2520 level. A swing low was formed near $0.2527 and the price is…

    Sep 6, 2019
  • Ethereum Price Analysis and Prediction for September 6th 2019

    After testing $180 two days ago, ETH / USD bottomed out at $171 on Bitstamp. Right when the price hit that level, decent buy volume pumped the Ethereum price to $175. Due to lack of volume, the market since then has been trading sideways, just like most other cryptocurrencies today. Let’s go over any Ethereum news worth mentioning and see if the charts tell us anything. Ethereum News The main topic of ETH news these days is trouble with the Ethereum network congestion. ETH has been suffering from an overflow of transactions for a few months already and many analysts are blaming the low Ethereum price on that. Moreover, if you take a look at the current amount of pending transactions on the mempool, its at over 55,000 at the time of writing and climbing. When it comes to progress on network scaling, Vitalik recently did a podcast with 80000hours and said he was “very confident” about Ethereum 2.0. Vitalik went on to say that the current version of Ethereum’s is a scrappy attempt at the world computer, he said that…

    Sep 6, 2019
  • Crypto Market Cap And Bitcoin Gaining Pace: BCH, BNB, EOS, TRX Analysis

    The total crypto market cap is climbing higher and it may soon break the $265.0B resistance. Bitcoin price is now trading nicely above the $10,600 level, with a positive angle. EOS price is currently consolidating near the $3.300 level. Binance Coin (BNB) is gaining momentum and is currently trading above the $22.25 level. BCH price may soon make another attempt to surpass the $300 and $305 resistance levels. Tron (TRX) price is extending losses and it recently broke the key $0.0150 support area. Bitcoin (BTC), binance coin (BNB) and the crypto market cap are gaining bullish momentum. Ethereum (ETH), BCH, tron (TRX), litecoin, ripple and EOS are also struggling to recover. Bitcoin Cash Price Analysis Recently, BCH price failed to climb above the $300 and $305 resistance levels against the US Dollar. As a result, there was a downside correction and the BCH/USD pair tested the $290 level. The price is currently trading in a range and it seems like the price may soon make another attempt to surpass the $300 and $305 resistance levels. If the price struggles to…

    Sep 6, 2019
  • Over $1 Billion in BTC Transferred to an Unknown Wallet » The Merkle Hash

    Whale Alert is a live tracker for major cryptocurrencies that alerts the public if any large transaction have been made. It’s mostly used as an alert of a potential market action or a whale entering / exiting a position. 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 94,504 #BTC (1,018,147,922 USD) transferred from unknown wallet to unknown wallet Tx: https://t.co/VWb8slswa8 — Whale Alert (@whale_alert) September 6, 2019 Whale Alert’s twitter account recently posted a tweet showing a transaction transferring 94,504 BTC, that’s over $1 billion in Bitcoin at current prices. Surprisingly the fee for the transaction was a mere 0.001 BTC – a mere $10. Looking up the transaction on blockchain.info, we can see the 94,000 BTC were sent from 15 different wallets to a single address. Moreover, the address that the coins were sent to had a previous transaction (3 minutes earlier) of 0.1 BTC which was obviously sent as a test. Following the 94k+ deposit, there are two more deposits of 1 BTC and 0.6 BTC. What does this all mean?  We can only speculate as…

    Sep 6, 2019

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