Bloomberg Shows Complete Misunderstanding of JPM Coin Crediting It with Bitcoin Price Rise

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Bloomberg Shows Complete Misunderstanding of JPM Coin Crediting It with Bitcoin Price Rise

Bitcoin and other cryptocurrencies have nothing to be afraid of. Bloomberg’s recent report has been officially refuted, as JPM Coin is not even a crypto.

Bloomberg Shows Complete Misunderstanding of JPM Coin Crediting It with Bitcoin Price Rise

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Source: CoinSpeaker

Bitcoin Price Crosses $4,000, Could we have Another Spike While Chart “Screams Bottom”

Volatility entered the market on the weekend when greens exploded across the cryptocurrency space with top ones registering a rise of as high as 12 percent in a day. Bitcoin took a spike as well and briefly hit $4,000 on Bitfinex. At the time of writing, Bitcoin has been trading at $3,952 with 24-hours gains of 0.42 percent, as per data provided by Coinmarketcap.
Bitcoin price 5-days chart, Source: TradingView
 
The price wasn’t the only one that took a spike, one of the strong factors that contributed to this hike has been its trading volume. The leading cryptocurrency that is currently managing the daily trading volume of $8.95 billion yesterday hit $9.9 billion. This high was previously registered on May 3rd, 2018.
Trading volume has an integral part to play in the Bitcoin price as the crypto trader and analyst Josh Rager shared,
“Bitcoin currently at resistance level with a break and close above $4100 is bullish. But…Volume continues to decrease on high time frames: the decreasing volume w/ rising price = bearish. If the volume doesn’t pick up, I foresee BTC price dropping back to support.”

It’s a possibility that as traders and investors start getting bullish, the flagship cryptocurrency might do a U-turn and take a hit to another bottom as many analysts have already predicted for in the first quarter of 2019 as Rager further comments, “I expect bullishness and overconfidence by majority before a drop to the bottom.”
“Notice the long wick, a nice sign of a slight retrace likely. Would like $BTC push up slightly higher to at least $4100 to mid $4ks would be a nice a target. For traders, this is good volatility. For Holders, you could see new lows in the coming weeks,” noted Rager.
Now, similar thoughts are echoed by economist and crypto trader Alex Kruger who says, the current market has covered all the factors, viz. “Capitulation” that occurred from November to December in 2018, then bounced off long term trend measure, twice, on Dec & Feb (200 WMA), and the current movement that broke out from High Low” in high volume, to hit the bottom.
In the short term, analysts are predicting Bitcoin to move between the $3,700 and $4,200 range while as Rager noted and now Kruger, once this $4,200 level gets broken, price can move really “fast,” but it in no way means Bitcoin price won’t crash rather the chart is giving bearish signals.
“Prices may crash again. After all, bitcoin’s demand is almost entirely speculative, and natural sellers (miners, exchanges) will always sell.”

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Source: CoinGape

Bitcoin Approaches Closer to $4,000, EOS Surges More Than 20%

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Bitcoin Approaches Closer to $4,000, EOS Surges More Than 20%

Crypto markets show a major recovery adding $10 billion on Tuesday with Bitcoin approaching $4000. EOS becomes the steals the show with over 20% gains.

Bitcoin Approaches Closer to $4,000, EOS Surges More Than 20%

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Source: CoinSpeaker

Bitcoin [BTC] Briefly Touches $4,000, Will Bulls Bring in More Gains or Back to Sideways Movement?

Finally, Bitcoin touched $4,000 briefly on Bitfinex as it inches close to hitting a new high of 2019. The leading cryptocurrency registered significant gains today as according to the data provided by Coinmarketcap, Bitcoin is up by 7.76 percent in the past 24-hours.

Bitcoin price 5-days chart, Source: Coinmarketcap

However it’s just not Bitcoin that is enjoying the greens, the entire crypto market is euphoric as altcoins go surging as usually is the case in a bull market.
EOS and Bitcoin cash (BCH) are the top gainers among the top 10 cryptocurrencies with over 20 percent gains, followed by Ethereum (ETH) that is up by about 16 percent. Meanwhile, today’s highest gainer is WAX and Veritaserum that are up more than 33 percent. Ark is the highest loser with 13 percent losses while Aurora and Powerledger are in the red by about 2 percent.

Source: Coinmarketcap
The total market cap added $12 billion in about a day while the daily trading volume hits $31.5 billion.
Meanwhile, the analysts at Cambridge Associates, a consultant for pensions and endowments said in a note as reported by Bloomberg that investors should consider investing in cryptocurrencies.
“Despite the challenges, we believe that it is worthwhile for investors to begin exploring this area today with an eye toward the long term. Though these investments entail a high degree of risk, some may very well upend the digital world.’’
It has been further added in the note that, “The dramatic declines that swept across the crypto space raised questions about the future of these assets and the blockchain technology that underpins them. Yet, in looking across the investment landscape, we see an industry that is developing, not faltering.’’
Miners Revenue Nearing the 2-Year Low
While the Bitcoin price is seeing an uprise, Bitcoin miners’ revenue is close to hitting a 2-year low. A crypto Analyst with pseudonym Rampage shared a thread on Twitter where he detailed latest Bitcoin network data.

Bitcoin miners revenue is hitting a near 2 year low.
This also means that it’s becoming super cheap to transact on the network again.
Anyone remember the ridiculous fee’s and long wait times to transact in late 2017?
Thread 👇
/1 pic.twitter.com/XzKhex5kHq
— 𝓡𝓪𝓶𝓹𝓪𝓰𝓮 🦍 (@Thrillmex) February 17, 2019

This has been happening because of the total transaction fees hitting a 5 year low. “This is the total value of all transaction fees paid to miners (in BTC). USD linear chart looks brutal. Miners are getting paid less and less.”
The good thing is Bitcoin wallets that are being created are still on a rise as now 33M wallets are created that has some interesting stats behind them.

He concluded this with,
“Looking at this data it would seem that the bitcoin network is as strong as ever, yet, money continues to be poured into its infrastructure but seems to be built without a corresponding user base – a gigantic risk on a speculative asset. Bitcoin – huge risk, huge reward.”
The post Bitcoin [BTC] Briefly Touches $4,000, Will Bulls Bring in More Gains or Back to Sideways Movement? appeared first on Coingape.
Source: CoinGape

Bitcoin Price Analysis: BTC/USD Trends of February 18–24, 2019

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Bitcoin Price Analysis: BTC/USD Trends of February 18–24, 2019

Bitcoin price may have its high at $4,237 in case the demand level of $3,679 holds and the Bulls gained enough momentum. Also, the BTC price will find its low at $3,247 if there is a breakdown of the $3,679 price level.

Bitcoin Price Analysis: BTC/USD Trends of February 18–24, 2019

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Source: CoinSpeaker

Crypto Analyst: Bitcoin Price Stuck Between Converging Moving Averages Until Mid-Year

Traders, investors, and analysts are all watching Bitcoin price charts in hopes to better predict when the current crypto bear market ends and a new uptrend will resume.
One particular crypto analyst believes that the Bitcoin price will continue to be squeezed tightly together until at least mid-year, as it consolidates between two important converging moving averages.
Bitcoin Price Consolidating Between 200MA Support and 50MA Resistance
In mid-March, Bitcoin price decisively broke through the 50-week moving average following a failed inverse head and shoulders that created a double-top formation, sending BTC to retest its February 2018 low near $6K.
Days later, a “death cross” occurred. A death cross is an extremely bearish chart pattern in which an asset’s short-term moving average (50MA) crosses and falls below its long-term moving average (200MA).
Related Reading | Bottom Doesn’t Matter, Last Time General Population Can Afford Entire BTC
Those same two important moving averages are also responsible for Bitcoin’s tightening trading range, and according to one prominent crypto analyst, Bitcoin price will remain stuck between the 200MA and 50MA until at least “mid-year.”

Nothing changed since first post of the year. Predicting price to continue within the rapidly converging moving averages until mid-year. pic.twitter.com/hyuv8djM47
— dave the wave (@davthewave) February 14, 2019

The 200MA has been acting as support since Bitcoin’s earliest days trading, while the 50MA has proven to be powerful resistance ever since the death cross occurred back in March of 2018.
The two points are “rapidly converging” according to Dave the Wave. The oft-cited analyst doesn’t expect to see a break of either moving average until at least mid-year. The mid-year prediction is further backed up by the monthly MACD, which Dave the Wave believes will turn up in roughly “six months.”

Simply look for the MACD to turn up… in six months. pic.twitter.com/VL3RmfNLqz
— dave the wave (@davthewave) February 14, 2019

Should Bitcoin price break up as the two points converge, a golden cross will occur and an uptrend could resume. A golden cross is the exact opposite of the death cross, and typically indicates that there’s potential for a major rally to follow.
If Bitcoin price breaks down further below the 200MA, Bitcoin’s logarithmic growth curve as it is current charted will be broken and the long-term future of the asset will be called into question. The coming months will be especially important.
Bitcoin Price Logarithmic Growth Curve Could Point to $100K at Next Peak
While the first every cryptocurrency is in dangerous territory in its relation to the 200MA and its proximity to the logarithmic growth curve line, the good news is that if past peaks and troughs are repeated, the next Bitcoin all-time high could be somewhere near or above $100K.
Related Reading | Bitcoin Investors Are Underwater, But BTC Bounces Back Quickly 
The experienced chartist warns that the next peak “may take a few years” to reach, and like what happened at $20K and other past peaks, another major correction will occur.

The good, the bad, and the ugly of the logarithmic growth curve –
1] Up from here to 100K odd2] May take a few years3] may then face another major correction pic.twitter.com/f5EAPQGP2y
— dave the wave (@davthewave) February 14, 2019

The analyst also suggested that Bitcoin’s price will continue to stabilize as the logarithmic growth curve flattens, or else it cannot be claimed to be “money.”
Featured image from Shutterstock
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Bitcoin Price & Technical Analysis: BTC Fails to Continue Rising

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Bitcoin Price & Technical Analysis: BTC Fails to Continue Rising

Bitcoin is trading at $3,570 Thursday, reports Dmitriy Gurkovskiy, Chief Analyst at RoboForex.

Bitcoin Price & Technical Analysis: BTC Fails to Continue Rising

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Source: CoinSpeaker

Crypto Pioneer Mark Jeffrey is Sure that Bitcoin will Reach $250k, and Here’s Why

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Crypto Pioneer Mark Jeffrey is Sure that Bitcoin will Reach $250k, and Here’s Why

Bitcoin pioneer, Mark Jeffrey, who published “Bitcoin Explained Simply” (2013) and “The Case For Bitcoin” (2015), bets that Bitcoin will multiply surpass the earlier highs seen towards the end of December 2017.

Crypto Pioneer Mark Jeffrey is Sure that Bitcoin will Reach $250k, and Here’s Why

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Source: CoinSpeaker

Bitcoin Price Analysis: BTC/USD Trends of February 11–17, 2019

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Bitcoin Price Analysis: BTC/USD Trends of February 11–17, 2019

In case the demand level of $3,679 holds and the Bulls gained enough momentum, there will be a bullish rally towards the resistance levels of $4,237-$4,692. The breakdown of the $3,679 level will return the Bitcoin price to the previous low of $3,247.

Bitcoin Price Analysis: BTC/USD Trends of February 11–17, 2019

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Source: CoinSpeaker

Bitcoin Bulls Break Resistance, Where Will BTC Go Next?

There has been no shortage of price predictions for Bitcoin over the past couple of months. As the bears tighten their grip on crypto markets and the winter deepens it all appears to be doom and gloom.
A Short Term Bounce For Bitcoin
A ray of light broke through the winter clouds yesterday when crypto markets surged by $10 billion. Bitcoin led the charge when it punched through resistance at $3,500 and then again at $3,600 just 15 minutes later.
For weeks BTC has been lulling around these levels unable to muster the strength to get past them. Only yesterday Bitcoin fell to its lowest level for 2019 when it briefly touched $3,390. The break below $3,400 must have triggered a raft of buy trades which sent BTC surging 9% to reach an intraday high of just below $3,700. Daily volume has surged from $5 billion to $7.8 billion, the highest it has been since the bounce off the bottom in mid-December. BTC is currently holding at around $3,650 at the time of writing.
Bitcoin price YTD
The volatility has returned again as Bitcoin hits a 15 day high the day after posting a seven week low. The big question now is where will it go next? Regardless of the big green candle for the day, the market is still trending down and making lower highs and lower lows. Previous robust resistance levels will test the strength of this bull run and determine whether it is to continue. At the moment $3,600 seems to be holding but the next major hurdle to overcome for BTC will be the wall of resistance at $4,000.
Analysts have been hinting at BTC being in oversold territory on the short term. Referring to the RSI indicator, technical analyst at Fundstrat Global Advisors, Rob Sluymer, echoed this sentiment when he said “BTC is again at historically oversold levels and is retesting important support that needs to hold to suggest a bottom is developing,”
Speaking to Bloomberg recently he added that the longer term outlook was not pretty; “A break below the fourth-quarter lows at $3,100 would imply a decline to $2,270, while a move above $4,200 is needed to signal Bitcoin is beginning to improve,” So it seems that the $4,000 level, or just above it, is still the key to further upwards momentum.
As it stands this mini recovery is just that and there have been no longer term signals to spell a major trend reversal. If the likes of Murad Mahmudov are correct, Bitcoin has a lot further to fall before it really starts to come back with a vengeance.
Image from Shutterstock
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From $20K to $3K and Back: How Bitcoin Price Counters Sentiment in the Crypto Market

During Bitcoin’s widely publicized bull run of 2017 which sucked up retail investors into its massively inflated bubble, the price of the first ever crypto reached a peak of $20,000. Now that the bubble has popped and the market has entered a state of anger and despair, more people than ever are writing obituaries for Bitcoin and calling for extreme lows – the exact opposite of the sentiment witnessed at its all-time high.
While most traders follow technical analysis or look to fundamentals to determine which way Bitcoin price may move next, trading crypto counter to the market’s sentiment may be the best indicator yet for profitable trades.
Crypto Market Sentiment Can Be a Contrarian Indicator
Billionaire investor and finance magnate Warren Buffett has an often cited quote, “Be fearful when others are greedy and be greedy when others are fearful.” The quote is the perfect example of how contrarian trading works, especially when it comes to speculative assets that easily set the stage for bubble-like market cycles.
Sentiment just before Bitcoin’s all-time high was at the peak of the hype and irrational exuberance phase of a market bubble cycle. It wasn’t uncommon to see comments in Reddit’s r/BitcoinMarkets’ daily discussion thread read “no way it doesn’t break $20,000 soon. Very soon.”

Others were calling for astronomical figures such as $100,000, and some simply talked about how the current bull trend couldn’t possibly come to an end. “Every time we’ve consolidated right below/around ath the past year it’s broken up….just saying the trend is still very much up,” one Redditor adorned with a “2013 Veteran flair” added.
Related Reading | Strong Fundamentals: Bitcoin Daily Transactions Return to Bull Run Levels
Another self-proclaimed Bitcoin maximalist even suggested those turning bearish where blind to “what is right in front of them” for entering what are now incredibly profitable short positions.
Even industry figures such as Fundstrat’s Tom Lee had called for Bitcoin to reach $25K, and the eccentric John McAfee even offered to eat his own penis if Bitcoin didn’t reach $1 million per BTC by the year 2020 – a prediction he then called “conservative” yet now seems impossible.
Crypto Bear Market Bottom is Hard to Spot During Depression and Anger Phase
Predicting the bottom price of an asset is extremely difficult, and its only further complicated by the emotional state of the market’s participants.
Following Bitcoin’s hype phase, was denial. $6K was repeatedly defended and sentiment swayed back and forth between each Bitcoin price peak and trough. Until support at $6K broke and even permabulls finally turned bearish.
Related Reading | Crypto Analyst Expects Strong Bitcoin Bounce, Monthly MACD Signals Bottom
Sentiment has only suffered further since then, as the market clearly entered the depression and anger stage – the complete opposite of the sentiment found in Reddit comments around the December 2017 top.
“Does look like it’s running out of steam and about ready to fall,” one Redditor commented. “Short it. Itz about to double top – or whatever the TA term is for the second peak peaking short and plumitting beyond the first peak’s inception slope to inverted Middle Earth,” exaggerated another.
Extreme Bitcoin price calls claiming $1,000 is around the corner, or that $3K would break in the same manner $6K did, were great examples of how trading contrary to sentiment can work in one’s favor.
Following these dramatic and depression-driven calls for the death of Bitcoin, came a nearly 10% rally from Bitcoin’s local low of $3350, and could spark a reversal if overhead resistance can continue to be taken out.
From here, where Bitcoin price goes is anyone’s guess. But investors should keep in mind Warren Buffet’s famous quote and watch closely for opportunities to trade counter to market sentiment.
Images from Shutterstock
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Cryptocurrencies to Taste New Round of Pain, Predicts Fundstrat Global Adviser

Sources report that Fundstrat Global Adviser, Robert Sluymer gave his technical analysis on prices of major cryptocurrencies. According to him, the crypto universe may be in for even more pain.
Crypto To Feel More Heat
Although the value of Bitcoin is still at risk of falling below $3000, the insights by Mr. Sluymer indicates that ‘smaller coins are more at risk. Bloomberg reported on Wednesday, Sluymer said in a note;
“The price structure for most cryptocurrencies remains weak and appears vulnerable to a pending breakdown to lower lows,”
Moreover, the Fundstrat’s advance/decline indicator points at the new risk for battered cryptocurrencies. Such an indicator specifically analyzes the market performance of small-cap cryptocurrencies – as such, report states;
250small cap cryptocurrency is at risk of breaking to new lows.”
Slumyer isn’t adding insights on Bitcoin over the specific time frame. Moreover, he targets $3100 as the core to watch Bitcoin price to kick start the new beginning.
“A break below the fourth-quarter lows at $3,100 would imply a decline to $2,270, while a move above $4,200 is needed to signal Bitcoin is beginning to improve,”
The bitcoin price on Thursday (i.e Feb 07, 2019) depreciated with 0.04 percent on the back of US dollar in past 24hrs. With Bitcoin, the second largest cryptocurrency, XRP is also declined with 0.32 percent and is managed to trade with an average market cap $12,004,032,837. On top of all that, Bitcoin is already struggling with a decline of 80 percent since the peak of $20000 back in Dec 2017.
Do you agree with Robert Sluymer’s opinion on Bitcoin and small cap cryptocurrencies? share your opinion with us.  
The post Cryptocurrencies to Taste New Round of Pain, Predicts Fundstrat Global Adviser appeared first on Coingape.
Source: CoinGape

Bitcoin Will Gain More Than 80% Throughout 2019, New Study Explains Why

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Bitcoin Will Gain More Than 80% Throughout 2019, New Study Explains Why

Despite the persistent crypto winter, a panel of financial markets analysts in Australia predicted that Bitcoin will rise by over 80% throughout 2018 fueled by several short-term catalysts.

Bitcoin Will Gain More Than 80% Throughout 2019, New Study Explains Why

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Source: CoinSpeaker

Bitcoin Price Prediction for 2019: Experts View

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Bitcoin Price Prediction for 2019: Experts View

John Ryan, experienced writer and crypto enthusiast, takes a look at major Bitcoin price predictions by industry’s top experts, unveiling what we can expect from the main cryptocurrency in 2019.

Bitcoin Price Prediction for 2019: Experts View

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Source: CoinSpeaker

Bitcoin Block Reward Halving Could Trigger Price Surge, Predict Traders

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Bitcoin Block Reward Halving Could Trigger Price Surge, Predict Traders

The upcoming block reward halving event for the Bitcoin blockchain network is scheduled to take place in May 2020 and could possibly act a trigger for the Bitcoin price surge.

Bitcoin Block Reward Halving Could Trigger Price Surge, Predict Traders

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Source: CoinSpeaker