Flat or Breakout: What to Expect from Bitcoin This Week

Bitcoin sentiment seldom improved this past week as it remained stuck inside a $150-wide trading area. Traders maintained their distance from the top cryptocurrency while shifting their focus on the DeFi market. All eyes now remain on how the S&P 500 index performs. The US benchmark has formed a record positive correlation with Bitcoin. A clueless Bitcoin is hanging between a booming DeFi craze and a choppy US stock market as it enters the new […]

Bitcoin Dominance Is Breaking Down, But Don’t Expect an “Altseason”

Bitcoin’s price action over the past few weeks has not been impressive by the standards of altcoins. While BTC has stagnated in the low-$9,000s, certain cryptocurrencies have literally gone parabolic. No coin shows this trend as well as Chainlink (LINK), which is now one of the top-10 cryptocurrencies. The popular altcoin, one of the most popular on Crypto Twitter by far, is up by around 400-500% since the lows of March. And it’s up by […]

There’s “Lots of Open Air” for Bitcoin Down to $7k if This Level is Lost

Bitcoin risks a drop to the low-$7,000s as the price prepares to fall below a crucial support level as defined by the Ichimoku Cloud. Multiple analysts corroborate the sentiment that the leading crypto asset will fall towards that region in the third quarter of 2020. A long-term bull run may follow a BTC correction as it will act as the final shakeout before a macro breakout upwards. According to analysts, Bitcoin is currently on the […]

Bitcoin Can “Move Faster” Than Tesla If It Breaks This Key Level: Trader

Unlike Bitcoin, the stock of Tesla (TSLA) has been on a tear over recent weeks and months. Just look at the chart below, which shows that the shares of the world-famous car company have gone parabolic. As mentioned, Bitcoin’s gains, by comparison, have been paltry. While Tesla shares are up by around 800% since June of 2019, BTC is down by 25%. Even since the start of the year, the company’s shares have surged by […]

Ethereum is Coiling Up for a Big Move; Why Analysts Expect Downside

Ethereum, much like Bitcoin, has been caught within the throes of an intense bout of sideways trading This has caused the cryptocurrency to largely hover around the lower boundary of its multi-month trading range, being unable to gain any clear and decisive trend in either direction Although many major digital assets have been able to kick off firm uptrends, ETH hasn’t been so lucky Analysts are now noting that Ethereum may be well-positioned to see […]

This Indicator Signals Bitcoin’s Boring Price Action Will Come to a Violent End

Bitcoin has continued extending its unprecedented bout of sideways trading as it hovers around $9,100 The crypto has done little to offer investors with insights into its mid-term outlook Bouts of sideways trading this defined and prolonged have only occurred on a few occasions throughout the crypto’s decade-long history Each occasion has ultimately resulted in the crypto posting a massive trend-defining movement Bitcoin has been finding an unusual amount of stability around $9,100. The crypto […]

Bitcoin to Soon Confirm Buy Signal That Preceded 2017’s 2,000% Rally

Despite the 150% rally from the March capitulation lows, there remain many that remain macro bearish on Bitcoin. Take the example of Peter Schiff, the CEO of Euro Pacific Capital and a prominent gold proponent. He recently argued that while he expects gold to rally, he still thinks Bitcoin is embroiled in a bear market. Schiff went as far as to say that BTC’s 2018 lows of $3,200 are unlikely to hold for much longer. […]

Ethereum Fees Are Up 500% Since April: Why That’s Bearish for ETH

It’s been a strong few weeks for Ethereum adoption. Due to growth in the decentralized finance sector, the blockchain has seen a spike in users, active addresses, and transactions. Unfortunately, this influx of usage has not come without a cost: As per data from Glassnode, a blockchain analytics firm, the daily median gas price of an Ethereum transaction passed 50 Gwei. This is a transaction cost five times higher than that of April, and the […]

Analyst: Bitcoin Will Pass $20,000 But a 40% Drop May Happen First

Since the peak of the 2017 bubble, Bitcoin investors have been wondering when the cryptocurrency will set a fresh high above $20,000. Some thought that it would happen in 2018, but that didn’t transpire. Neither did a new all-time high occur in 2019. According to a prominent trader, this high will take place in 2021. The caveat: Bitcoin may need to see one more strong move lower before it kicks off an actual macro bull […]

Chainlink (LINK) May See a Major Crash as Textbook Bear Signal Flashes

Chainlink has been one of the best-performing crypto assets of the past few weeks and months. Since the lows under $2 seen in March, the asset has more than quadrupled, trading as high as $9.00 earlier this week. The asset’s strong performance comes on the back of an influx of fundamental developments. For instance, China’s Blockchain Service Network (BSN) revealed in June that it will be using Chainlink technology. “This integration of Chainlink provides BSN […]

Ethereum‘s Record High Correlation With Bitcoin Could Lead to Major Losses

Ethereum has formed a record-high correlation with Bitcoin over the past couple of weeks This comes as ETH’s movements start aligning with those seen by BTC in a way that hasn’t been seen before If this correlation persists, the cryptocurrency’s next trend could largely depend on that of BTC That being said, this could suggest that Ethereum is poised to see some notable near-term losses, as analysts widely believe Bitcoin is positioned to see some major downside […]

These 4 Factors Signal Bitcoin is Gearing Up for a Breakout Rally

The crypto market is heading into the weekend without any clear momentum, as the past week has been relatively quiet for Bitcoin Many altcoins are still maintaining their firm upwards momentum, although this appears to be slowing down as investors grow more concerned about where Bitcoin may trend next There are four factors that one analyst is closely observing that could provide BTC with better guidance in the near-term This comes as the cryptocurrency continues […]

This Macro Fractal Predicts Bitcoin Could Soon Drop to the $6,000s

Bitcoin’s sideways trend has left many investors divided over what comes next. Yet a cryptocurrency analyst who has made historically accurate calls is leaning bearish. Here’s why he thinks so. Bitcoin Could See a Strong Correction The analyst in question shared the chart below to convey his bearish sentiment. The chart shows that Bitcoin is currently trading in a descending triangle. A descending triangle is a textbook bear pattern that last had relevance in late-2018, […]

US Dollar May Plunge: Macro Analyst Explains Why That’s Crucial for Bitcoin

For the longest time, Bitcoin was seen as an asset that is independent of the movements of traditional markets. But, the pandemic struck. It has dramatically altered the state of the global economy, with analysts now arguing that BTC’s directionality is dependent on certain markets. One such market that strongly influences Bitcoin according to analysts is that of the U.S. dollar. After all, the U.S. dollar is the world’s reserve currency, accounting for much of […]

Bitcoin’s Consolidation Phase is About to Break Records, But It May Not Last Long

Bitcoin’s intense multi-month consolidation phase is currently approaching record territory Throughout the past several years, BTC has seen multiple consolidation phases in which its price fails to post any movements greater than 5% for an extended period. That being said, in just a few days the crypto will have set its most prolonged bout of compressed trading seen in several years In the past, all these bouts of lackluster trading have been followed by large […]

This Technical Formation Could Put an End to Chainlink’s Multi-Year Uptrend

It’s no secret that Chainlink has been one of the most bullish digital assets throughout 2019 and 2020 The cryptocurrency recently extended its parabolic momentum when it rallied up to highs of $8.80 Although it is possible that a combination of hype and investor “FOMO” could help drive LINK higher, there are some reasons why analysts are growing cautious One trader pointed to the emergence of a large rising wedge pattern as one factor that […]

Bitcoin OI Just Hit a Multi-Month High, Suggesting Fireworks are Inbound

Bitcoin’s intense consolidation phase is now approaching its fourth month The cryptocurrency is still offering little insight into where it might go once this trend breaks It also remains unclear as to what could catalyze this range to break, and both buyers and sellers have been increasingly moving to the sidelines as of late One factor to observe in the near-term is the massive amount of outstanding open interest within the market This metric currently […]

The World’s Wealthiest Are Dumping Stocks, How This Can Impact Bitcoin

Some of the wealthiest individuals in the world are dumping stocks they bought at the Black Thursday bottom this past March. Thanks to an ongoing tight correlation between the stock market and Bitcoin, any selloff could also impact the cryptocurrency. If the stock market does start crashing again, how might this affect Bitcoin in the days ahead? UBS: Billionaires Are Preparing To Dump Stocks Bought During Black Thursday Bottom According to a firm that’s dubbed […]

Prominent Investment Strategist Gives 3 Reasons to Buy Bitcoin

Despite Bitcoin’s strong bounce from the March lows of $3,700, some remain decisively bearish on the leading cryptocurrency. Take Peter Schiff, for instance. The prominent gold bull and cryptocurrency skeptic recently wrote that he thinks the asset will soon break below $9,000, arguing that Bitcoin remains in the midst of a brutal bear market. “Gold seems to be chipping away at resistance just below $1,800 while BTC is simultaneously chipping away at support just above […]

4 Signs Show Chainlink (LINK) May See Strong Reversal After 1,700% Rally

One of the best-performing cryptocurrencies over the past two years is LINK. The native token of the Chainlink project, the altcoin has rallied by approximately 1,700% against BTC from its 2018 lows. Chainlink is benefiting from a surge in adoption of its core technology, decentralized oracles, from many established entities. In the past month alone, the Chinese state-sponsored Blockchain Service Network, Huobi, and Nexo have integrated oracles from the project. These partnerships/integrations, coupled with an […]

Stellar Leaps 12% Following Samsung Collaboration; Why a Bigger Uptrend is a Challenge

Stellar price rose higher late Thursday following its integration into the Samsung Blockchain Keystore. The XLM/USD exchange rate logged a 12 percent increase on a 24-hour adjusted timeframe, a move that took the pair out of a one-year-long consolidation range. The standout performance appeared despite a bearish mood across the top cryptocurrency tokens. Stellar was stellar in the last 24 hours. The fourteenth-largest blockchain asset (Ticker: XLM) rose by more than 12 percent to $0.1053, […]

A Big Bitcoin Boom Ahead as Data Shows Rising Inflation Fears

Bitcoin expects to undergo a significant rally as a top economist predicts an inflation bias after 12-18 months. The analogy comes after demand for inflation-protected bonds spike in the US, showing investors expect consumer prices to increase in the future. Bitcoin has shown higher adoption in countries with a higher inflation rate, a narrative that prompts some to see it as an alternative to fiat money. It has been a boring couple of weeks of Bitcoin […]

If This Textbook Bitcoin Bull Trend Plays Out, BTC Will Hit $11k in August

It may be only a matter of time before Bitcoin hits $11,000 and kick-starts the next phase of this bull run, an analysis has shown. This comes in spite of the growing levels of bearish sentiment in this nascent market as volatility remains low in anticipation of a breakout. Bitcoin Could Soon Hit $11,000, Predicts Re-Accumulation Analysis While Bitcoin may seem like an extremely unpredictable asset, it can be analyzed using traditional technical analysis techniques […]

This Technical Structure Signals Bitcoin is Coiling Up for a Major Downside Break

Bitcoin does not appear to be in a good position at the present moment Bears are currently attempting to push it below its long-held support at $9,000 This comes just a week after the crypto posted two consecutive rejections at $9,400 Its inability to push higher coupled with mounting selling pressure suggests downside could be imminent Analysts concur with this notion, with one pointing to a technical structure as a reason why he is anticipating […]

Here’s Why Ethereum Breaking Below $225 Could End “Altseason”

Ethereum has seen some notable losses that have sent it down to the lower boundary of its trading range The crypto is now flashing some overt signs of weakness This is rooted in the lack of strength seen by both Bitcoin and most other major digital assets Analysts are now noting that $225 is a crucial level for ETH One trader is even noting that it is arguably the “biggest level” in the crypto’s history […]

Bitcoin Just Broke a Crucial Level, Opening the Gates for a Move to $7,000

Bitcoin and the aggregated cryptocurrency market are currently flashing some signs of weakness This comes close on the heels of yesterday’s widespread Twitter breach that caused many major accounts to shill a scam in which they requested Bitcoin from their followers Although this certainly isn’t bad for Bitcoin from a technical or fundamental perspective, it may degrade the public’s trust in the digital asset Some analysts are now noting that the latest decline has caused […]

Everything You Need To Know About The Bitcoin Scam Behind Twitter Hacks

Last night, the Twitter accounts of major celebrities, influential figures, and politicians were hacked to promote a Bitcoin scam. Due to how many followers these high-profile accounts have, news and rumors spread like wildfire. But what exactly went down that led to accounts like Joe Biden, Kanye West, Bill Gates, Apple, Bitcoin, and several others to be hacked? Here’s everything we know so far about the hack and the hackers behind the brazen cryptocurrency scheme. […]

XRP Could Accelerate Lower as Chart Resembles Bitcoin’s October High

Last week, XRP saw its first large bout of bullish price action in over a month. Following the lead of a swath of other altcoins, the prominent cryptocurrency spiked by approximately 10% in a single day, passing the crucial resistance of $0.20. Many traders responded to this move with optimism: charts showed that with the rally past $0.20, XRP had broken above a number of crucial resistance levels. Unfortunately for holders of the altcoin, though, […]

Bitcoin Selling Pressure on BitMEX Is At Multi-Month Highs: Analyst

According to poll data shared by pseudonymous Bitcoin analyst “PlanB,” holders of BTC are seemingly more bullish than ever. One of the analyst’s latest polls suggests that approximately three-quarters of Crypto Twitter is either “HODLing” or buying Bitcoin at the moment. And another poll from gold bull Peter Schiff indicated that a majority of cryptocurrency investors have an extremely strong conviction in holding BTC. Yet market data shows that Bitcoin is undergoing an influx of […]

Analyst Explains Why a Bitcoin Crash is Good News in Disguise

Bitcoin stands stuck inside a $250 trading range for more than two weeks. The cryptocurrency’s volatility and daily trade volume are, meanwhile, heading down, raising the possibility of a price breakout. An open survey conducted by Josh Rager, a renowned market analyst, found that a majority of traders expect Bitcoin to break to the downside. Nevertheless, Mr. Rager believes that the next Bitcoin crash is good news in disguise. Bitcoin risks crashing in the coming […]