Ethereum is Showing Early Signs of Weakness; Is the Top in?

Ethereum, like Bitcoin, is facing a bout of consolidation as it trades below its crucial near-term resistance This level has held strong throughout the past several days, and each attempt to break above $400 has been met with an influx of selling pressure One result of this consolidation phase has been the emergence of multiple bearish signals that all point to imminent downside Analysts believe that unless ETH gains ground against BTC, it could be […]

Bitcoin Plunges Under Pivotal $11.5k Support: What Do Analysts Think Is Next?

Bitcoin is slipping lower after peaking at $11,950 just the other day. This marked the second major rejection at the pivotal $12,000 level in the span of a week. As of the time of this article’s writing, BTC is trading for $11,400. This is the lowest price in days, with the asset last trading this low after last week’s flash crash. Analysts believe that Bitcoin’s ongoing drop could be a precursor to a greater move […]

Bitcoin is Facing “Serious” Bearish Divergences as Analysts Eye Downside

The strong momentum Bitcoin has incurred in recent weeks is now showing some signs of stalling as it struggles to break above $12,000 This signals that the resistance at this level may be insurmountable, and may also be a sign of weakness amongst bulls Analysts are now noting that it has led to a surge in bearish divergences that seem to suggest a retrace is imminent BTC now has multiple key support levels throughout the […]

Why Toppling Silver and Gold Prices Could Be Especially Bad for Bitcoin

In March 2020, the stock market dragged cryptocurrencies down to their Black Thursday bottom. Since then, however, soaring gold and silver prices have helped restore interest in Bitcoin and altcoins. These hard, digitally scarce assets are expected to perform similarly to precious metals due to similar supply attributes. Still, it also could cause a disastrous crash in crypto as a result. Silver and Gold Rally Ready For Pullback And Dollar Stages Overdue Recovery The dollar […]

Wall Street Veteran Explains Why He’s “Irresponsibly” Long on Bitcoin

Bitcoin has gained steam over recent weeks, hitting $12,200 last weekend as buyers rushed in. Analysts say that the cryptocurrency market has room to move higher due to technicals. But from a fundamental standpoint, some argue that BTC is more bullish than ever before. Raoul Pal, the CEO of Real Vision and a Wall Street veteran, recently touched on this. He told his Twitter following on August 6th that he’s “irresponsibly long” on Bitcoin due […]

XRP Could Plunge Towards $0.21, Fears Analyst After Price Rallies 50%

XRP has gained approximately 50% in the past two weeks alone. The asset now trades at $0.32 as of this article’s writing, reaching highs not seen since earlier this year. Analysts are not convinced that the altcoin continues to press higher despite the price action. One trader says that XRP has the potential to drop towards $0.24, then $0.21, before heading higher. XRP Could Drop Towards $0.21: Analysts XRP has seen a stellar price performance […]

Analyst Explains Reasons Bitcoin Price Could Fall Back to Lower $10Ks

Bitcoin is facing risks of a price correction towards $10,000, according to a TradingView analyst. He spotted the cryptocurrency trading near its weekly resistance level, noting that it may amount to profit-taking action among traders. Nevertheless, he also asserted that Bitcoin is in a bull market, adding that the price would likely bounce back from its $10,000-lows. Bitcoin’s efforts to log a breakout move above $12,000 may fail as selling sentiment grows near the said […]

Two Macro Calls That Could Propel Bitcoin to $14,000 This Year

Bitcoin may hit $14,000 in the coming quarter. The analogy appears out of two extremely bullish calls made for the US dollar and Gold. Bitcoin has shown an extreme correlation with the two macro assets this year. Bitcoin may have some fuel left to continue its 2020’s run-up towards the $14,000-mark. The level–last approached in 2019 against the backdrop of an escalating US-China trade war and falling yuan– has fallen back into the radar of […]

This Bitcoin Metric Just Dropped 4%—And It’s Bullish For The Market

Bitcoin has rallied by approximately 25% over the past two weeks as Ethereum has wrested the market higher. The asset currently trades at $11,750 as of this article’s writing, with the uptrend still intact. A crucial on-chain metrics, the number of BTC held by exchanges, has been dropping over recent days. Analysts say that this trend is bullish for the cryptocurrency market as it effectively reduces Bitcoin’s selling pressure. As this has transpired, analysts are […]

Analyst: Bitcoin Just Posted the “Most Important Breakout” in BTC History

Bitcoin has been seeing some incredibly bullish price action throughout the past several days and weeks The cryptocurrency is now consolidating at just below $12,000 as its buyers attempt to catalyze another leg higher Despite facing resistance at this level, the crypto has yet to see any type of harsh breakdown here One recent technical development is creating a new source of bullishness amongst traders The cryptocurrency just broke out of a multi-year bull pennant, […]

Here’s Why One Analyst Expects Ethereum to Tap $275 Before Pushing Any Higher

Ethereum has been struggling to break above $400 for the past several days The selling pressure here is quite significant, and a sustained break above this level would be a highly bullish technical development Because ETH has been consolidating just below it throughout the past few days, bulls may be gearing up for a major push higher Despite being technically strong, one analyst is still expecting the cryptocurrency to see another “scam wick” that leads […]

Bitcoin is Pushing Against a Crucial Level as Chances of an Explosive Rally Grow

Bitcoin and the entire crypto market saw a strong afternoon yesterday. This allowed BTC to push up towards $11,800 The cryptocurrency is now caught within what will likely be a short-term consolidation phase at just under $12,000 Whether or not it can surmount this crucial resistance today will help offer insights into its short-term outlook One analyst explained in a recent tweet that yesterday’s daily close does seem to indicate that a break above this […]

Bullish For Bitcoin: BTC Supply Slowly Shifts From Whales Toward Smaller Entities

New data shows that the amount of Bitcoin held by smaller entities has grown significantly. Meanwhile, during the same time, whale-sized BTC wallets declined by a similar margin. Clearly, there’s been a sizable shift in supply, but what exactly does this crypto wealth transfer signify? And is this bullish or bearish for the first-ever cryptocurrency? Supply Restrictions Give Cryptocurrencies Added Value That Isn’t Fully Understood Out of all of Bitcoin’s unique attributes that give it […]

Bitcoin Is Still Facing Down a Critical Resistance After Exploding 20% Higher

Bitcoin is rallying once again, pushing to $11,700 as of this article’s writing. Analysts say that the cryptocurrency must hold above $11,500 by the time of the weekly close on Sunday evening to confirm more upside. This is because $11,500 has been a technically important level to Bitcoin for the past two and a half years. Bitcoin Is Facing Down This Critical Resistance: Analyst Explains Bitcoin’s explosive move past $10,500 last week was undoubtedly satisfying […]

After Surging 60% in Two Weeks, Ethereum Just Printed a Reversal Sign

Even factoring in the flash crash on the weekend, Ethereum is still up by approximately 60% in the past two weeks. ETH is printing a reversal sign after this extremely strong rally, per a Telegram channel tracking certain technical analysis signals. The signal predicts that Ethereum will undergo a bearish reversal in the coming days. ETH may be saved by a drop by Bitcoin bulls, which should drive the overall direction of the crypto market. […]

Massive Liquidity to Hit Bitcoin, Equity Markets in 2021: Veteran Investor

The Bitcoin market could benefit from a massive liquidity injection entering 2021, according to veteran investor Dan Tapeiro. The DTAP Capital founder made the analogy after noticing the S&P 500 index chasing the US M2 money supply. He expected the M2 to grow higher by 40 percent in 2021, adding that it would leave investors with enough liquidity to enter equity, gold, and Bitcoin markets. The expectation of ballooning money supply in 2021 is leaving […]

Bitcoin Eyes $14K as US Dollar Breaks Below Classic Support

Bitcoin pressed higher on Wednesday after finding reliable support at $10,500. The upside move appeared as the US dollar index broke below its classic trendline support that originated back in 2011. With greenback setting new downside targets based on technical parameters, Bitcoin could extend its gains further as it eyes a $14,000-retest. Bitcoin climbed higher during the Wednesday trading session as demand for alternative safe-havens remained stronger against an underperforming US dollar. The benchmark cryptocurrency […]

Bitcoin’s Macro Price Chart Is Giving a Fund Manager “All-Time High Vibes”

Bitcoin has seen a strong retracement since its highs of $12,200 set on Saturday. Bulls remain optimistic about the leading cryptocurrency. One fund manager in the space went as far as to say that the BTC chart is giving him “all-time high” vibes. Could Bitcoin Hit New All-Time Highs Really Soon? Mohit Sorout — a founding partner of Bitazu Capital — sees new all-time highs for Bitcoin in the near future. On August 5th, he […]

These Factors Suggest Bitcoin Could Hit $13,900 if Bulls Defend One Key Level

Bitcoin’s consolidation phase within the lower-$11,000 region has resulted in a powerful push up towards $12,000 Although the crypto has yet to re-test this level, it does seem as though a movement to this level could be imminent in the near-term Multiple analysts are now offering bullish outlooks on BTC in the near-term One such trader is noting that a move up towards $13,000 could be brewing in the days and weeks ahead There are […]

Despite Recent Strength, Ethereum has Yet to Break Above One Critical Level

Ethereum, like Bitcoin, is currently flashing some immense signs of strength as it pushes past $400 The resistance at this price level remains heavy, so buyers must continue propelling the crypto higher in the near-term Where ETH trends next as it hovers around this crucial level may depend on Bitcoin, as it guided the market’s latest movement If Ethereum’s buyers remain strong in the near-term, they may next look to target the crypto’s recent highs […]

Why One Trader Thinks Bitcoin Will See a $1,000+ Plunge Despite Ongoing Upswing

Bitcoin is currently showing intense signs of technical strength as it races towards $12,000 once again despite the recent rejection at this level The cryptocurrency is now well-positioned to see further upside but remains within a short-term consolidation phase until it shatters this level This uptrend may be bolstered by its break above a previously formed trading range within the lower-$11,000 region One analyst still believes that Bitcoin is at risk of seeing a large […]

Cash App Bitcoin Revenue, Profits Increase 600% Year-Over-Year On “Rising Demand”

Square Inc’s Cash App is just one of many ways CEO Jack Dorsey is exposing the public to Bitcoin. The payments firm added support for cryptocurrency purchasing in 2018 during a bear market, but demand has continued to climb. The company’s latest quarterly revenue reports have revealed some staggering figures. It also clearly shows the impact the crypto asset is having on their bottom line. Cash App Quarterly Revenue Figures Show Strength During Economic Turmoil […]

Analyst Explains Why the Ultimate Resistance Bitcoin Faces Is $11,500

Just a day before the weekly close, Bitcoin saw an explosive breakout as high as $12,200 on Saturday. In classic crypto fashion, the cryptocurrency proceeded to drop by $1,500 in the span of five minutes as sellers rushed in. This crash meant that BTC closed the weekly candle below $11,500 and $12,000, two crucial resistance levels. After this crash, an analyst identified that $11,500 is literally “the most important level” for Bitcoin. Fortunately for bulls, […]

On-Chain Data: Bitcoin Will See Even More Volatility After $1,500 Plunge

Bitcoin has seen low volatility since the Saturday flash crash, during which the leading cryptocurrency fell by $1,500 in the span of five minutes. For the past three days, the asset has ranged between $11,100 and $11,500 for the most part. On-chain analysis by Santiment, a blockchain analytics firm, predicts that this nascent market will soon see some volatility. Santiment believes that this volatility is likely to be the upside. Other market commentators agree, saying […]

A $12K-Retest for Bitcoin Likely On-Chain Activity Suggests

Bitcoin could hit $12,000 or break above it in the coming sessions as its on-chain activity spikes. According to behavioral analysis platform Santiment, the number of daily active addresses climbed above 1 million on August 3. That, as Santiment noted, validated a scope for a price rally ahead. Bitcoin closed above $12,000 earlier this week on mounting selling pressure near the level. The cryptocurrency eventually dropped back to $10,500 only to attempt another bounce upwards […]

A Massive Bitcoin Bull Run Awaits as Fed Confirms 2% Inflation Target

A high inflation environment is creating more upside opportunities for Bitcoin as the cryptocurrency trades near its 11-month high. Recent statements from the Fed officials confirm that they are targeting a 2 percent inflation by pledging not to raise interest rates in the medium-term. The dovish outlook has helped Bitcoin to rise by close to 200 percent from its mid-March nadir. Bitcoin hit $12,000 earlier this week, a year-to-date high driven by daunted bond yields […]

XRP Forms Crushing Textbook Reversal Sign After 30% Explosion

XRP has seen an extremely strong rally over the past few days, outperforming Bitcoin and even Ethereum on some days. Since July 22nd, the asset has gained in excess of 50%, reaching highs not seen since the February blow-off top. Some analysts see this price action as a precursor to a macro bull run for XRP. While this may be true, the leading altcoin is printing some signs that it will reverse for a few […]

This Newly Formed Structure Could Cause Bitcoin to See Major Losses

Bitcoin and the aggregated cryptocurrency market are currently in a precarious position following the series of strong rejections seen yesterday evening The selling pressure incurred as a result of these rejections has not yet been enough to force BTC or other assets below their crucial support levels That being said, analysts are growing increasingly cautious on BTC’s near-term outlook One trader explained that a recently emerged technical pattern seems to indicate downside is imminent It […]

Here’s Why Traders are Growing Cautious About Ethereum’s Uptrend

Ethereum has witnessed some incredibly mixed price action throughout the past few weeks After rallying up to highs of $415, it has been struggling to recapture this momentum as it largely trades below $400 Yesterday, ETH bulls pushed it to this key level before facing a massive influx of selling pressure that forced it lower It is now trading around its daily lows as bulls struggle to gain further momentum This has led one analyst […]

Why Klaytn and Link Will Catalyze Blockchain Adoption in Asia

In the last two years, popular messaging giants in Asia and Europe have announced plans to launch a blockchain-powered cryptocurrency. In Asia, Kakao’s Klaytn and Line’s Link platform have launched and are quickly gaining momentum, but Facebook and Telegram’s cryptocurrencies have not fared so well. Messaging Giants Pushing Blockchain Adoption As it stands, Kakao is by far the most dominant mobile platform in Korea with a market share of 97% in the country. Kakao subsidiary […]