Analyst Who Predicted Bitcoin’s 2018 Bottom: Altcoins May Plunge in 2021

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It’s been an incredibly strong year for altcoins thus far. Versus Bitcoin, many have outperformed. As reported by Bitcoinist previously, the small-cap, medium-cap, and large-cap altcoin indexes from crypto exchange FTX have outperformed Bitcoin since the start of 2020. Yet a prominent analyst expects this trend to reverse in 2021. He went as far as to say that Bitcoin dominance — the percentage...

These Macro Factors Show That Bitcoin Bears are Gaining Control of BTC

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Bitcoin’s bulls and bears appear to be locked within an intense battle for control over the cryptocurrency Bears have been gaining the upper hand over the past few weeks, as the crypto has been consistently trending downwards despite being caught within a multi-week consolidation phase Presently, BTC is trading just above a crucial support level that appears to be growing weaker due to it being tested...

A $2B Gold Fraud Portrays Bitcoin as “Less Vulnerable” Alternative

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Bitcoin found itself competing with traditional safe-haven gold all over again as authorities in China uncovered a $2 billion fraud. Kingold, one of the mainland’s most significant gold processing firms, allegedly collateralized 83 tons of fake yellow metal bars to secure 20 billion yuan (~$2.82 billion) worth of loans. Robert Breedlove, chief executive of crypto hedge fund Parallax Digital,...

A U.S. Stimulus-Backed Rebound Could Fuel a Bitcoin Bull Rally: Here’s Why

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Bitcoin kicked off this week with a modest move higher, rising 0.78 percent as of Monday’s close. The gains followed a sharp sell-off last week as traders pinned their hopes on a new stimulus package by the Federal Reserve and the U.S. Congress. The sentiment helped S&P 500 pare part of its last week’s losses. The U.S. index and Bitcoin have formed a short-term positive...

Bitcoin May Hit $10,500 “Sooner or Later,” Boosting Case for Upside

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It’s been a tough past few days for Bitcoin traders. After holding ~$9,400, the cryptocurrency temporarily slipped under $9,000 on the weekend. In the process, dozens of millions of BitMEX longs were liquidated. Yet an analyst has asserted that there’s a high likelihood BTC revisits $10,500. Bitcoin then surmounting that level may lead to even greater gains, with some calling for...

Institutional Bitcoin Traders Think That the Top Is In; Factors to Consider

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Bitcoin’s price has been flashing signs of overt weakness throughout the past several days and weeks The cryptocurrency is now rapidly approaching its critical support at $9,000 The buying pressure here appears to have been degrading over the past several days and weeks Institutional investors and professional traders on the CME appear to believe that the Bitcoin top is in, as most have flipped short...

Converging Bitcoin Indicators See Price Stagnant at $8,000s Until Sept 2020

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Risks of Bitcoin price moving towards $8,2000 in the next quarter are growing, per two historically accurate technical indicators. The benchmark cryptocurrency has been trending downwards in a Falling Wedge pattern since June 2020. Meanwhile, it has painted a Death Cross that points to a further bearish correction in the market. There is a strong likelihood of Bitcoin correcting lower towards $8,200...

Bitcoin Braces for Turbulent Week Ahead: Three Reasons Why

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Bitcoin fell 0.31 percent in the early Monday session. The cryptocurrency’s plunge followed a similar downside move in the S&P 500, validating its growing correlation with the U.S. index. It now awaits a bumpier weekly session ahead as investors measure the resurgence of virus cases in the U.S. against critical economic reports releasing this week. Bitcoin investors should buckle...

Bitcoin News Summary – June 29, 2020

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The post Bitcoin News Summary &#8211; June 29, 2020 appeared first on 99 Bitcoins. <br /> The biggest news this week was that the PayPal company is planning direct sales &#8230; <br /> Bitcoin News Summary &#8211; June 29, 2020 Read More &#187; from Bitcoin news | Published News | Bitcoin news via TOday bitcoin ne...

Peter Schiff: Bitcoin Won’t “Even Come Close” to Its $20k High This Year

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It&#8217;s been a strong past few months for both Bitcoin and gold. The leading cryptocurrency is up more than 150% from its March low while the precious metal has gained 15%. Both performances mark notable gains for the assets. Yet according to a prominent investor and gold proponent, it won&#8217;t be Bitcoin setting a fresh high this year. Instead, he says it will be the precious metal....

Despite Its $25B Market Cap, Ethereum Can Still Be “Dethroned”

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For years, Ethereum has easily been the leading smart contract blockchain. With mass adoption by service providers, brand recognition, and a series of popular apps, it leads in its category. Yet this hasn&#8217;t stopped some from speculating that the cryptocurrency can be &#8220;dethroned&#8221; by an upstart. Ethereum Could Be Dethroned By Another Blockchain, Analyst Says Due to a rapid...

No, Bitcoin Breaking Below $9k Was Not a Bearish Breakout: Analyst

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On Saturday, Bitcoin finally broke below $9,000 after a week of consolidation. When the asset slipped under this level, more than $20 million worth of longs on BitMEX were liquidated. This was in addition to the more than $40 million liquidated just two days earlier. Many were quick to flip bearish as BTC temporarily lost the support of $9,000. One crypto trader shared a chart indicating that a textbook...

The Last Time There Was This Much Dormant Bitcoin, It Rallied to $20,000

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Bitcoin has been facing some intense weakness over the past couple of days The benchmark digital asset’s buyers and sellers have been locked within an intense battle around $9,000, with bears ardently attempting to hold it below this crucial support Although this doesn’t bode well for its near-term outlook, its macro outlook remains strong One fundamental metric just reached levels not seen since...

Bitcoin Cash Sets All-Time Low Against BTC — and Analysts Are Still Bearish

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Most cryptocurrencies, from Bitcoin to XRP, haven&#8217;t fared too well since the highs of the last bull market. Even BTC, which is arguably more bullish than ever fundamentally, is down by over 50% from its all-time high. Bitcoin Cash, however, has done especially poorly, with it only recently getting worse. Bitcoin Cash Hits Fresh Low Against BTC There was a time when a single BCH was worth...

3 Fundamental Reasons Why Bitcoin Is Bullish After Drop Under $9k

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On Saturday, Bitcoin decisively dipped under $9,000, reaching lows not seen in over a week. It was a move that liquidated dozens of millions of dollars worth of longs, shaking bulls from their expectations of upside. Yet many analysts remain fundamentally optimistic, citing a number of trends indicating that Bitcoin still has a bullish undertone. Some of these trends are as follows. #1: Miners Continue...

This Signal Last Seen Before Ethereum’s 60% March Crash Is “Inches Away”

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After days of consolidation, Bitcoin, Ethereum, and the rest of the crypto market have finally broken down. The flagship cryptocurrency tanked from the $9,100 base to a low of $8,830 for a loss of 3%. Ethereum registered similar weakness, decisively slipping under $220 for the first time since the end of May. While it is still early days for this leg lower, technical signs show the expectations of...

The Coinbase Effect is Dead, Meaning Crypto Listed on That Exchange Usually Don’t See a Significant Price Increase

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In the past, it used to be a big deal for a cryptocurrency to get listed on Coinbase, since a listing on that exchange usually led to a big rally, which is known as the Coinbase effect. However, according to data aggregated by CoinMetrics, the Coinbase effect is now dead. CoinMetrics analyzed the market...

A Top Analyst Just Broke Down Some of the Biggest Bitcoin “FUD”

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Despite its growth and adoption over recent years, Bitcoin is still far from understood and looked down on by much of Main Street and Wall Street. In a May call entitled “Implications of Current Policies for Inflation, Gold, and Bitcoin,” two executives at Goldman Sachs discussed BTC. According to leaked slides of the client call, the two were not optimistic. They purportedly said that Bitcoin does...

Ethereum Just Printed a Macro Buy Signal Yet Not Everyone Is Convinced

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If you zoom in and look at Ethereum&#8217;s price action since the March lows, it would be easy to say that ETH is doing great. But if you step back and looking at the macro view, you realize how bad things have become. Against the dollar, the leading altcoin has collapsed by around 85%. And against Bitcoin, the cryptocurrency has fallen by a similar amount. That&#8217;s to say, the cryptocurrency...

There’s a Chance Bitcoin Won’t Break $10k Until Next Year: Analyst Explains

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Bitcoin has been coiling for a breakout over the past few weeks. The cryptocurrency has traded in the low-$9,000s, stuck between heavy support at $8,500 and heavy resistance at $10,000. Soon enough, analysts have said, something will break. According to a prominent trader, Bitcoin is more likely to break this consolidation to the downside rather than the upside. Bitcoin Won&#8217;t Break $10,000...

XRP Has Been in a Macro Downtrend For Almost 1,000 Days: Analyst

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From the lows made in March, XRP is up by over 50%, trading at $0.18 as of this article&#8217;s writing. Yet this bounce has not convinced analysts that the cryptocurrency is back in a bull market. In fact, one trader recently noted that soon enough, the third-largest altcoin will have been in a macro bear market for over 1,000 days. XRP Is in a Macro Downtrend And Has Been for Almost 1,000 Days...

53% of Bitcoin Options Just Expired, Marking a Historic Milestone

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Bitcoin and Ethereum just saw their largest respective options expiry ever, marking a major milestone for the cryptocurrency market This expiry took place earlier today and it did not coincide with any intense volatility, despite what some analyst had forecasted It now appears that the volatility associated with this event did occur earlier this week It is possible that the options expiry, and investors’...

The Purpose Behind the LKS Foundation: A Blockchain-Inspired Organization

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The LKS Foundation is an Italian non-profit foundation that aims to promote initiatives that use the principle of sharing information through blockchain technology and spread the culture of fintech to innovate in sectors such as crowdfunding, ICO, and decentralized finance technologies. The Foundation’s...

If Institutional Investors Put Just 0.5% of Their Portfolio in Bitcoin, The Digital Asset Would Skyrocket to Nearly Double the All-Time High

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There has long been speculation in the crypto space that institutional investment would be the driving force that would lead to the biggest crypto rally ever by far, and now the crypto experts at Messari have run some calculations. They have found that if institutional investors on average put a mere...

Weekly Trending Bitcoin News and Market Sentiment June 26th, 2020: PayPal, Venmo Consider Bitcoin Integration, Venezuela Halts Bitcoin Passport Payment, Deribit Rejects Options Expiry Impact on Volatility

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Bitcoin has had a week typical of previous ones, with tight trading ranges above USD 9,000 PayPal, Venmo rumored to consider Bitcoin integration as Venezuela halts Bitcoin payments for passports Deribit CEO disagrees record options contract expiry will cause price spike It has been a tale of repeated...

Jay Hao, CEO of OKEx on the Recent Partnership Between His Company and Paxful.

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We are back again to follow up on OKEx&#8217;s recent announcement regarding its partnership with Paxful. It seems like a milestone development for both the companies who are market leaders in their respective spaces. It would be great if you can answer a few questions regarding the partnership to quell our curiosity. Q: What was the reasoning behind this partnership between two giants &#8212;...

How Bitcoin Would React to Massive $1B Options Expiry Today

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Bitcoin options contracts with a notational value worth $1 billion will expire on Friday across several derivatives exchanges. Observers anticipate the record expiration to wake Bitcoin&#8217;s volatility out of its three-months long slumber. Traders have concentrated their options strike price between $9,000 and $11,000, leaving spot Bitcoin with a conflicted directional bias. About 114,700 Bitcoin...

Lobbyist Jack Abramoff Charged for Running $5.6M Bitcoin Scam

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Jack Abramoff has agreed to plead guilty to charges of running a $5.6 million Bitcoin scam. The disgraced lobbyist duped investors into purchasing tokens that he promised would be convertible into a new and improved version of Bitcoin. Mr. Abramoff now faces up to five years in jail. Jack Abramoff, a disgraced Washington lobbyist from former President George W. Bush&#8217;s administration, has...

These 3 On-Chain Levels Will Provide Bitcoin With Support as Price Crashes

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Bitcoin&#8217;s strength didn&#8217;t last for long. After attempting to run past the resistance around $10,000 on Monday, the cryptocurrency strongly reversed. On Wednesday, BTC fell as low as $8,950 — almost 9% below the week&#8217;s highs. While the rapid reversal has been anything but bullish, data shows that there&#8217;s on-chain support should Bitcoin&#8217;s price dip further....

As Jobless Claims Soar, Bitcoin’s Mid-Term Outlook Remains Gloomy

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The United States has seen rocketing unemployment, and it does not appear that this trend is slowing down even as many states and cities begin reopening This signals that the recent shutdowns have done severe damage to the economy, despite the stock market sitting around its all-time highs New data shows that although the number of new jobless claims has dipped slightly in recent times, its decline...

BItcoin Breaking Below $8,500 Will Make This Summer “Long” For Holders

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it&#8217;s hasn&#8217;t been a pretty past 24 hours for Bitcoin investors. The cryptocurrency has exhibited a strong reversal after hitting $9,800 on Monday. As of the time of this article&#8217;s writing, BTC trades for $9,200, $600 shy from the peak. This reversal to the downside has resulted in the liquidation of dozens of millions of long positions on BitMEX. Skew.com suggests that...

Ethereum Just Shot Up $250 But Don’t Bet on That Resistance Breaking

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While Bitcoin was rejected at the $9,800 resistance, Ethereum has continued to press higher. The second-largest cryptocurrency is up by around 4% from the past 24 hours&#8217; lows, outpacing Bitcoin&#8217;s relatively mild 1-2% gain. ETH&#8217;s latest uptick brings it close to the crucial $250 resistance level. This level has been important over the past few months, acting...

Bitcoin May Soon Explode as 10-Day Volatility Craters to Yearly Low

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Bitcoin is trading inside a tight range with its 10-day realized volatility dropping to a year-to-date low of 30 percent. Several analysts point to a lackluster sentiment in the market as Bitcoin repeatedly fails to continue its uptrend beyond $10,000. A period of low volatility mostly ends up in a price breakout in either direction. Macro fundamentals align in favor of bulls. Bitcoin has been trading...

There Are Reasons to Be Bullish After Bitcoin Crashed $600 on Tuesday

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Yesterday, investors were expecting for Bitcoin to re-enter a decisive uptrend. As reported by Bitcoinist, the cryptocurrency surged to $9,800 — the highest price BTC has traded at in approximately 10 days. The move came on the back of strength in the altcoin sector and in the value of American equities. Microsoft and Netflix, for instance, hit new all-time highs on Monday as the world continued to...

Report Finds Public Trust of Bitcoin Will Soon Outweigh that of Big Banks

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Bitcoin’s status as a “safe haven asset” has grown in recent times due to its performance against a backdrop of global uncertainty This narrative has also been bolstered by the massive amounts of money printing and inflation seen throughout the globe The recent halving event shined a spotlight on Bitcoin’s deflationary structure and fixed supply All these factors appear to have built up the public’s...

PR: Counos DEX

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As you may know, given the increasing development in technology and network communications, investment and business is not as it was in the past. It has undergone a paradigm shift. Traditional markets and physical communications are no longer the case. It’s the same for physical marketing and commercials....

The PayPal Bitcoin News Isn’t Entirely Bullish: Kraken CEO Explains

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On Monday, the Bitcoin and crypto space saw one of the most positive news events in months. Citing three sources, CoinDesk reported that multi-billion-dollar payment giant PayPal is looking into rolling out cryptocurrency trades. A &#8220;well-placed industry source&#8221; said to the outlet: &#8220;My understanding is that they are going to allow buys and sells of crypto directly from...

Brazilian Hedge Fund Still Down 56%, Despite 16 Months of Crypto Gains

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BLP Asset Management’s returns are a reminder that cryptocurrency funds that took a hit in 2018 when prices of digital currencies crashed have a harder time getting back to sea level than those buoyed by 2017’s cresting market gains. from Bitcoin news | Published News | Bitcoin news via TOday bitcoin ne...

Bitcoin Price Could Hit $50K on Just 1% Institutional Allocation: Messari

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Bitcoin price has a likelihood of reaching near $50,000 if institutional investors allocate 1 percent of their portfolio to it. Data aggregator portal Messari noted the possibility in its recent note to clients, citing a string of reasons that could make Bitcoin a trillion-dollar market. Primary among them are risks associated with unprecedented monetary policies and declining trust in federal institutions....

Max Keiser Bashes Bitcoin SV, Says Its Price Is a “Hologram”

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Bitcoin Satoshi Vision (BSV) has a market capitalization of over $3 billion, despite the criticism it has faced over recent years. This makes it the sixth-largest cryptocurrency, ahead of some of the most prominent altcoin projects. Yet a prominent cryptocurrency investor is hesitant to put his faith in the $3 billion market cap of BSV. He says that the asset&#8217;s relatively high price is a...

Here’s Why the PayPal News May Signal a Global Bitcoin “Hash War” is Looming

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The crypto sphere was lit ablaze by news that PayPal and Venmo are both looking to roll out direct crypto trading capabilities to their users This comes as their competitor, CashApp, sees massive revenue inflows from its Bitcoin sales This is certainly a sign of growing retail adoption, and will place Bitcoin in front of the platform’s 325 million users scattered across the globe One prominent Bitcoin...

A Fund Manager Just Bashed XRP, Bitcoin Cash, and Other Altcoins

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Save for a few blips, XRP, Litecoin, Bitcoin Cash, and others have been part of the top 10 cryptocurrencies for years. Since the crash of 2018, the altcoins at the top of the pack have largely been unquestioned. But a prominent researcher and fund manager is challenging the status quo. He wrote in a recent tweet that he doesn&#8217;t think that five of the top 10 cryptocurrencies &#8220;do...

$15m Liquidated as Bitcoin Surges to $9,800 for the First Time in Weeks

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After days of consolidation, Bitcoin experienced a crucial breakout over the past few hours. The cryptocurrency just minutes ago tapped $9,800, the highest price it has traded at in over 10 days. With this latest move higher, the cryptocurrency is up approximately 5% in the past 24 hours. This is strong, especially when compared to altcoins — most of which are up 2-3% in that same time frame. Bitcoin&#8217;s...

PayPal FOMO Sparks Optimism For Bitcoin to Surpass $10,000: Here’s Why

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Bitcoin price climbed Monday as traders expected global payment giant PayPal to offer direct crypto sales. The unconfirmed report sent the BTC/USD exchange rate to as high as $9,792. Observers now see the pair holding itself above crucial resistance levels, which may resume its rally towards $10,000. Bitcoin&#8217;s steady upside correction from its weekend low at $9,161 picked momentum on Monday...

Liquidity on Bitcoin Perpetuals Exchange FTX Catches Up to Industry Leader BitMEX

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On a relatively new exchange like the Antigua-based FTX, the order book depth, as represented by the number of buy and sell orders at each price, now matches the depth seen on industry leader BitMEX. from Bitcoin news | Published News | Bitcoin news via TOday bitcoin ne...

Bitcoin Exploded by 50% When It Printed This Signal in March. It’s Back

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Bitcoin&#8217;s price action over the past few weeks has been deemed &#8220;boring&#8221; by most traders. As the chart below shows, the leading cryptocurrency has been caught in a tight consolidation pattern. Since the start of May, Bitcoin has barely deviated from $8,000-10,000. Only twice did the cryptocurrency move out of this range, though those moves saw quick rejections at crucial...

Bitcoin Hits Massive 1,350 BTC Sell Wall; Here’s Why Buyers Won’t Break It

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Bitcoin has seen a tempered upswing over the past several hours that has come about in tandem with a rise in the stock market This upwards movement has done little to alter its underlying technical strength, as it still remains squarely within its long-held trading range This move has also led it up against a massive sell wall on Binance, which may slow the cryptocurrency’s ascent and stop it from...

Bitcoin Analyst Explains Why Money Is Poised to “Flow Out of Altcoins,” Boosting BTC

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It&#8217;s been an explosive past few weeks for altcoins but not for Bitcoin. As the leading cryptocurrency has stalled in the $8,000s and $9,000s as BTC investors have found themselves at an impasse, certain altcoins have ripped higher. Just look at the table below, shared by Tahar Zafar. It shows that over the past week and even over the past three months, decentralized finance-focused altcoins...

PR: Crypto Experts Reveal Thoughts: How will Bitcoin Perform after the COVID-19 Crisis has Passed?

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Bitcoin Press Release: To educate Crypto-enthusiasts and prepare them for upcoming market conditions, A group of well-respected crypto experts have expressed their thoughts on the recent COVID-19 crisis, and its effect on the global crypto markets. 19th June 2020, London, United Kingdom: The COVID-19...
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