Bitcoin (BTC) At 2019 Highs, Is It Because of The FED’s Dovish Stance?

Bitcoin (BTC) prints double-digit gains
Central banks could slash interest rates to avert a global recession, boosting risk assets in the short term & safe havens in the long term 

Perhaps in anticipation of an economic slowdown and central banks intervening by cutting rates, data suggests fund managers are shifting capital to Bitcoin. In the last week, BTC is up 21.9 percent and likely to surge to $15,000.
Bitcoin Price Analysis
Fundamentals
At 2019 highs, the world’s most valuable asset now has the attention of the general public. With this newfound focus, volatility is back. Nonetheless, BTC prices are all over the place. As prices fluctuate, it conjures many memories of the Bitcoin mania that swept the world back in Q4 2017. Then, it was not rare for prices to double in short bursts.
Over the weekend, prices soared past $11,000 after surging above the psychological $10,000 level in less than 24 hours. That was a hallmark of bulls. Even after last year’s winter thawed, the global economy is seemingly in tatters, benefiting investors of BTC and gold.
While gold is above a 5-year range, BTC is registering double-digit gains, as Wall Street is jittery. Employment is weak and a trade war is raging. Therefore, to stimulate a fledgling economy, central banks are slashing rates.
The Reserve Bank of Australia is leading, and the US Federal Reserve could be next as President Trump castigated Governor Jerome Powell on his decisions. Aptly described by different reports, a recession is imminent. However, low Fed Fund rates could save the stock market:
“The collapse in bond yields since this spring has been stark, swift and global, prompting a rush to lock in low rates that few expected to see this deep into a decade-long economic expansion.”
Candlestick Arrangement

Retesting $11,000 for the second day in three days, BTC is 21.9 percent higher from last week’s close. Regardless, from candlestick arrangements, there is room for more upsides. From the look of things, LTC is leading the way. Because of this, there could be a BTC undervaluation.
Notice that behind this break and close above $10,000, there is a spike in trading volumes. Because of this, momentum is high. As a reflection, bull candlesticks are banding along the upper Bollinger Bands setting the pace for further gains.
Technically-and in light of the hype element, every low is an entry point. Safe stops would be on June 23rd low of around $10,100. Meanwhile, fitting targets is at $12,000 and later $15,000.
Technical Indicators
Aforementioned, activity is on the rise. From June 19th, trading volumes rose from 19k, peaking on June 23rd at 38k before halving to 17k. Even so, as bulls flow back, prices and trading volumes shall spike as every dip becomes a loading point for traders.
Chart courtesy of Trading View. Image Courtesy of Shutterstock
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‘Pomp’ Suggests a Timeline for BTC @ $100,000; Are Bitcoin Bubble Theories Behind Us?

Bitcoin has gained more than 180% since the beginning of this year; the bullish run came at the wake of the bear market. The apprehensions about further downside grew deep in January and February. The cryptocurrency markets, however, reversed its momentum and has been on the rise since then. The total market capitalization of cryptocurrencies gained about 150% from YTD.
Bitcoin Price Chart Since the Beginning of the Year 2019 (TradingView)
This is a 15-month high in Bitcoin with maximum gains coming around in the last two months. Various reasons have been cited to explain the rise; rising institutional interest with Bakkt, Fidelity, and CME, increasing momentum with mining and adoption, and a general increase in education about Bitcoin.
According to Mati Greenspan, Senior Market Analyst at eToro mentioned in a mailer,
“A rally of this magnitude doesn’t usually happen based on one catalyst. It’s a general change in sentiment in a market with extremely limited supply.”
Moreover, the traders who were expecting a bear market hadn’t left the market but were waiting on the sidelines for the bullish confirmation. The idea prevalent in the market was buying back cheaper Bitcoins at the bottom. However, Bitcoin has surged through all significant bearish resistance levels at breaking above $11,000.
The transaction volume of Bitcoin has also been on the rise with the number of active addresses surpassing 1 million.
On-Chain Bitcoin Transaction Volume in USD (Source: Coinmetrics)
Bitcoin, an Emerging Global Asset
The economic unrest is also adding the value of a way opportunity cost than Gold if one invests in Bitcoin. This is primarily due to small market capitalization and innovation. Hence, if any investors are planning to hedge the investments in an uncorrelated ‘store of value,’ they might consider putting a slight percentage of it in Bitcoin as well.
Furthermore, the ‘hodlers‘ of Bitcoin have always been optimistic about its price due to its limited transparent supply and increasing adoption. Anthony Pompliano, the Co-Founder of Morgan Greek Capital, seemed to resonate the $100,000 Bitcoin prediction. His timeline came with a cautionary warning. Moreover, his personal beliefs have always been strongly inclined towards Bitcoin. He said,
“The price appreciation will be driven by a very simple idea — supply/demand economics remains a valid market price determinant.” He also said, “I believe that Bitcoin will reach a $100,000 price point before December 31, 2021. My current confidence level of this happening is around 70-75%.”
He also explained the market scenario in such a situation. At $100,000 per Bitcoin, the total market capitalization of Bitcoin will be around $2 trillion. This would require investments of large magnitude driven by regulatory adoption. The rise would also see massive volatility; Pomp expects “20-30% drawdowns” during the climb.
Hence, while the ominous bull characteristics are behind us, Whitney Tilson, founder of Empire Financial Research and a former hedge-fund manager is still apprehensive of the gains in Bitcoin [BTC]. Tilson told the media last week,
“Don’t get fooled by the dead-cat bounce this year, Mark my words: A year from now, it will be a lot lower. This is a techno-libertarian pump-and-dump scheme that will end in ruin.”
Do you think that Bitcoin will become the global asset its proponents believe? What will be the driving force for it? Please share your views with us. 
The post ‘Pomp’ Suggests a Timeline for BTC @ $100,000; Are Bitcoin Bubble Theories Behind Us? appeared first on Coingape.
Source: CoinGape

Belated ICE-backed Bakkt Bitcoin Futures Beta-Testing Launches in Less than a Month

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Belated ICE-backed Bakkt Bitcoin Futures Beta-Testing Launches in Less than a Month
As ICE Futures Exchange opens its Bitcoin Futures interest, CME concurrently soars in what appears to be a four day all-time high in a row.
Belated ICE-backed Bakkt Bitcoin Futures Beta-Testing Launches in Less than a Month

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Source: CoinSpeaker

Facebook as a Major Thief: From Idea to Logo

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Facebook as a Major Thief: From Idea to Logo
Wall Street Journal readers found an interesting add between their finance news. It appears as if not only Libra’s logo is subject of discussion: one of the defining characteristics of Facebook’s project is seemingly inspired in a key element of Hedera Hashgraph.
Facebook as a Major Thief: From Idea to Logo

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Source: CoinSpeaker

Will Bitcoin Take a Breather or Blast Through Resistance Again?

This weekend has been nothing short of monumental for Bitcoin. Over the past two days the king of crypto has surged almost 15 percent to its highest price for 15 months. The big question now is will it carry on brushing resistance aside or is a pullback imminent?
Over the past 24 hours Bitcoin reached the giddy heights of $11,250, its highest price since March 2018. Market dominance is close to 60 percent as the altcoins remain frozen over, many still down over 80 percent from their peaks. Daily volume topped out at $30 billion as BTC market capitalization touched $200 billion, but has the wave of FOMO crashed onto the shore?
Bitcoin Breather Beginning?
As in previous pumps, traders and analysts have been scouring the charts looking for resistance zones where Bitcoin may possibly halt its epic run. $10k was a huge psychological barrier that was blown away within a couple of hours when BTC surged to $10,900 on Saturday.
The next key resistance level is around $12k where BTC touched on its way down in early 2018. Trader ‘CryptoFibonacci’ has looked at the long term chart to ascertain if and where Bitcoin may take a breather.
“Price is getting to an area where one would suggest we take a breather. But, BTC has a mind of its own, so we shall see. If you have profits, I would suggest taking some off the table the closer we get to 11,500-11.800 area, IMO.”

$BTC Weekly Chart.
Price is getting to an area where one would suggest we take a breather. But, BTC has a mind of its own, so we shall see. If you have profits, I would suggest taking some off the table the closer we get to 11,500-11.800 area, IMO.#BTC pic.twitter.com/Yvesi7UD47
— CryptoFibonacci (@CryptoFib) June 23, 2019

Other long term technical indicators are all indicating bullish momentum for Bitcoin so a correction would not be a bad thing. Economist, Alex Krüger, notes that trends are all one way at the moment;
“”The trend is your friend”. Returns and sharpe ratios for $BTC longs taken above the various moving averages are significantly superior than for longs taken below the moving averages. This is particularly relevant for trending assets such as bitcoin.”
The CME futures chart is starting to show some ominous gaps which is an indication that the current bull run could be running out of steam. CryptoFib added;
“They are open now and we have yet another gap. Not surprised based on the weekend move.  But, look how far price is outside of the upper Bollinger Band. That is No go for new longs for me. Time to take a few off the table, IMO.”

$BTC Daily CME Futures Chart.
They are open now and we have yet another gap. Not surprised based on the weekend move. But, look how far price is outside of the upper Bollinger Band. That is No go for new longs for me. Time to take a few off the table, IMO.#BTC pic.twitter.com/UVhbYvowy1
— CryptoFibonacci (@CryptoFib) June 23, 2019

Analysts have been wrong in the past when they predicted 30 percent pullbacks at $6k, $8k and again at $10k. Now that Bitcoin has breached $11k the correction calls are getting stronger so it has to take a breather sooner or later.
Image from Shutterstock
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Bitcoin Price Surges Above $11,300 Looking for More Upside Ahead

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Bitcoin Price Surges Above $11,300 Looking for More Upside Ahead
Bitcoin breaches another important milestone extending its gains above $11,300 levels. With this, Bitcoin has rallied over 20% in just last one week.
Bitcoin Price Surges Above $11,300 Looking for More Upside Ahead

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Source: CoinSpeaker

Bitcoin [BTC] Bullish Momentum in Full Steam, Analysts Weigh-in with their Opinions

Bitcoin [BTC] rose to a new yearly high near $11250 on 23rd June 2019. It has recovered about 57% from its All-Time High. Moreover, Bitcoin due to its speculative nature has followed a series of cycles consecutive bullish and bearish periods. Currently, the bearish pennant seems to be broken completely.
Bitcoin closed above $10,500 on the weekly chart, which is bullish according to two analysts. Tone Vays, Derivatives traders and crypto-analyst, Sawcruhteez suggest continued bullish momentum on Bitcoin on a weekly scale.
According to Tone Vays, the next bullish target for Bitcoin will be near the 62% Fibonacci line at $13346.
Tone emphasizes the shape of the candle and the sequential trading analysis. Apart from the 4-Hour chart, he suggested that all the other charts were timeframes were bullish. However, there was an ominous warning in Vays analysis. Vays and Crypto-Trader journalist, Ran Neuner bet on Bitcoin’s price correcting to $4500; Tone Vays still believes it is a possibility. According to him,
“Those that have no Bitcoin are probably in a little bit of panic and my advise to them is stay patient. Don’t panic.”
This warning was released because the rise is Bitcoin has been unprecedented above $4200. Nevertheless, the bears for Bitcoin who placed short orders near $3000-$5000 must be in massive loss. Richard heart, angel investor and Bitcoin trader tweeted,
“Best thing about this #Bitcoin price move? Bears should be totally annihilated by now…. If you shorted $3200 of #BTC at $3200 and closed at $11000 you lost $7800. 244% loss.”
Sawcruteez also predicted bullish tidings for Bitcoin at it broke the market reversal was verified by hyper-wave cloud pattern that is being followed by Tyler Jenks and Sawcruteez for a while now. The Hyperwave is suggesting a long-, medium-, and short term bullish reversal. He tweeted,
“The weekly $BTC cloud is now fully bullish.” He also tweeted, “If price stays above $10,555 then it will be something to keep an eye on. “
Bitcoin Price Analysis (Source)
Also Read: Crypto-Market Top Weekly Performers: Bitcoin, Ethereum, Monero, Binance Coin and NEO
Hence, the price seems to be pointing towards $13000 with no apparent downside visible to it. Recently, a similar target was previously was predicted by other analysts. Moreover, the volatility in Bitcoin and the building pressure on altcoins should see large movements in the near future.
Do you think that altcoin season will ensue as Bitcoin begins to stabilize? Please share your views with us.  
The post Bitcoin [BTC] Bullish Momentum in Full Steam, Analysts Weigh-in with their Opinions appeared first on Coingape.
Source: CoinGape

Bitcoin: Does speculative trading of BTC equate to adoption? This Bitcoin enthusiast begs to differ

Bitcoin has matured over the course of 10 years, it has converted a lot of skeptics to (if not believers, at least) being open towards having a rational approach towards it in the recent days, including, Warren Buffett, Jamie Dimon, etc. In addition, the government has come to accept that Bitcoin cannot be banned altogether, […]
The post Bitcoin: Does speculative trading of BTC equate to adoption? This Bitcoin enthusiast begs to differ appeared first on AMBCrypto.
Source: AMB Crypto

Cardano falls by over 3% in an hour; EOS, XRP follow suit

As Bitcoin pumped, it took most alts with it. However, when BTC falls, it also takes other cryptocurrencies with it, as it can be seen in the vermilion market, at press time. Cardano [ADA], XRP, and EOS were seen tumbling down within an hour, as Cardano emerged as the biggest loser by falling over 3% […]
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Source: AMB Crypto

Bitcoin: Would you rather HODL Bitcoin or trade? ex-CTO of Coinbase opines on investing in cryptos

With the inception of Bitcoin and the advent of altcoins, there has never been a good chance to make quick money by simply investing. The last time such an opportunity was seen during the DotCom bubble. However, scams are also a part of this opportunity which became more than evident during the ICO frenzy of […]
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Source: AMB Crypto

Crypto-Market Top Weekly Performers: Bitcoin, Ethereum, Monero, Binance Coin and NEO

We’re heading towards the end of what can is called as one of the most exhilarating weeks for cryptocurrencies, especially Bitcoin. The impetus was brought on by Facebook’s announcement, which gave Bitcoin, which provided the market with the catalyst it required.
Bitcoin gained around 20% since the beginning of the week. Majority of the gains were realized towards the end of the week on Friday and Saturday. Nevertheless, the momentum was built during the beginning as Bitcoin [BTC] rose above $9100.
Also Read: Peter Brandt Predicts Another Bold Parabolic Target for Bitcoin [BTC]
While Facebook’s announcement acted as a detonator, the utility of Bitcoin as a ‘store of value‘ seems to be establishing with David Marcus, Head of Facebook’s Blockchain unit and Brad Garlinghouse, CEO of Ripple not indenting to compete with Bitcoin’s utility.
BTC/USD 1-Day Chart on Bitstamp (TradingView)
Opening Price: $9083
Closing Price: $10675
The weekly Loss: 17.5%
Weekly High/Low: $9388/$7516
Ethereum
Ethereum maintained its dominance over the cryptocurrency market with near propionate gains to Bitcoin. The positive sentiments towards Ethereum can be attributed to Ethereum 2.0 announcements and the increasing volume on it.
Ethereum, EOS, Tron, and Cardano are competing for top place as a smart contract platform. While Tron (TRX) gained in double digits, the rise in EOS and ADA were close to 5%.
ETH/USD 1-Day Chart on Bitstamp (TradingView)
Opening Price: $269
Closing Price: $308
The weekly Loss: 14.4%
Weekly High/Low: $319/$260
Monero
Monero [XMR] along with Ethereum traded positively or only slightly contrary to Bitcoin over the entire week. It is the most popular privacy-centric protocol in the market. Another privacy-centric cryptocurrency, Zcash also gained above 20% during this week.
XMR/USD 1-Day Chart on Btfinex (TradingView)
Opening Price: $96
Closing Price: $106
The weekly gains 10.4%:
Weekly High/Low: $119/$94.7
Binance [BNB] Coin
Binance Coin [BNB] is forming a new almost every week. The year to date (YTD) rise in Binance was above 600% as it broke above $42 momentarily during the week. The Exchange backed token has been on the linear surge this year. Moreover, Binance coins stand a higher chance to grow with other Exchanges start supporting it like Kucoin.
BNB/USD 1-Day Chart on Binance (TradingView)
Opening Price: $32.3
Closing Price: $38
The weekly gains 17.6%:
Weekly High/Low: $43.2/$31.6
NEO
NEO is also a big smart contract and Dapps platform that facilitates ease of coding for developers. Moreover, it is highly prevalent in China. Early on Sunday 23rd June 2019, the price recorded a 25% gain as it traded at a high of $19 with $20 acting as massive resistance.
NEO/USD 1-Day Chart on Bitfinex (TradingView)
Opening Price: $14.1
Closing Price: $17.4
The weekly gains 22.9%:
Weekly High/Low: $19.4/$12.8
The growing attention towards Bitcoin [BTC] along with the development of cryptocurrency regulations can bring good news for the entire market. Nevertheless, many altcoins will also stand the test of regulators to address the concerns around their utility, launch, protocol, and degree of centralization.
*The percentage dominance of cryptocurrencies w.r.t. to the total market capitalization of the market at $1 billion is 0.3%. Hence, for Analysis purpose, we will only consider cryptocurrencies with a total market capitalization $1 billion or more. For future analysis, we’ll try to maintain ~0.25% as a standard for the calculation.
**The data is taken at around 11: 00 Hours UTC on 23rd June 2019. 
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Source: CoinGape

Bitcoin (BTC) Price Tops $11.2K, Short Term Correction Before Higher

There were sharp gains in BTC to USD above the $10,000 level against the US Dollar.
The price traded to a new 2019 high above the $11,000 level at $11,234.
There is a key bullish trend line forming with support near $10,550 on the 4-hours chart of the BTC/USD pair (data feed from Kraken).
The pair is currently trading above the $9,000 level and it could continue higher towards the $10,000 level.

Bitcoin price is surging and it recently topped near the $11,200 level against the US Dollar. BTC could consolidate in the short term before a fresh increase above $11,000.
Bitcoin Price Weekly Analysis (BTC)
This past week, bitcoin price started a strong rally above the $8,500 and $9,000 resistances against the US Dollar. The BTC/USD pair even gained strength above the $10,000 and $10,500 levels. Finally, there was a break above the $11,000 level and the price settled well above the 100 simple moving average (4-hours). Finally, the price formed a new 2019 high near $11,200 and recently started a downside correction.
It declined below $11,000 and $10,800. However, the $10,400 level acted as a decent support and a swing low was formed at $10,363. The price is currently moving higher and it trading near the $10,700 level. It is above the 23.6% Fib retracement level of the recent correction from the $11,234 high to $10,363 low. However, it seems like the $10,800 and $10,950 levels are currently capping gains.
The 50% Fib retracement level of the recent correction from the $11,234 high to $10,363 low is also preventing gains. If there is a successful break above $10,950 and a follow through above $11,000, the price is likely to resume its uptrend. The next key resistances are near $11,200 and $11,500. If bitcoin price continues to rise, it could even test the key $12,000 level in the near term.
On the downside, there are many supports near $10,500. Moreover, there is a key bullish trend line forming with support near $10,550 on the 4-hours chart of the BTC/USD pair. If bitcoin slides below the trend line, it could revisit the $10,200 and $10,000 support levels.

Looking at the chart, bitcoin price seems to be currently correcting gains. It remains well supported above $10,000 and there are chances of a fresh increase above $11,000. The bulls are likely to target further gains and just like the 2017 bull-run, the price might soon accelerate above $11,200.
Technical indicators
4 hours MACD – The MACD for BTC/USD is slowly reducing its bullish slope.
4 hours RSI (Relative Strength Index) – The RSI for BTC/USD is currently in the overbought zone, with a few bearish signs.
Major Support Level – $10,500
Major Resistance Level – $11,000
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Coinbase CFO on speculative trading, Facebook’s Libra runs into trademark trouble and more

Crypto News – 22 June – Bitcoin surges past $10K, Facebook’s Libra runs into trademark trouble and more Don’t forget to follow us for our daily videos#facebooklibra #bitcoin#CryptoNews #bitcoins#Coinbase #cryptocurrency #CryptoTwitter pic.twitter.com/v2oFTRepnD — AMBCrypto (@CryptoAmb) June 22, 2019 Crypto News – 22 June Bitcoin now being embraced by the masses? As charted out by cryptocurrency analyst […]
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Source: AMB Crypto

Bitcoin Bulls Relentless, BTC Soar Past $11,000 In A Reminder of Q4 2017

Bitcoin (BTC) prints new 2019 highs
Eventually, blockchain based platforms will replace legacy bank-based systems

Overly, there is a changing view of what Bitcoin is. The entry of Facebook could open doors for Wall Street corporations. Because of this possibility, Steven Eliscu of DMG Blockchain now says blockchain systems will eventually “supplant legacy bank-based systems.” Meanwhile, BTC prices are trading above $10,500 and 27 percent higher from last week’s close.
Bitcoin Price Analysis
Fundamentals
Trading above $11,000, BTC rally is parabolic. It is a continuation of a streak that began in February 2019. More than doubling in the space of four months, investors’ fortunes are changing. Spiking prices are a reminder of the late 2017 Bull Run. Then the space’s market cap more than double.
However, unlike then, players are different thanks to improving awareness and the entry of heavyweights like Facebook tagging legitimacy. Talking about their entry, Steven Eliscu from DMG Blockchain said:
“The Facebook-created blockchain is a reinforcement of the long-held idea in the Bitcoin community that a financial services system built on the blockchain will supplant legacy bank-based systems.”
Adding that:
“In the immediate future, Libra provides a huge overall boost to the sector that we believe will catalyze institutional and government acceptance such that – at least the top – public cryptocurrencies are here to stay and will remain an ever important asset class that hundreds of millions of people will hold.”
Generally, Bitcoin is more mature. Notably, regulators are more tolerant of Bitcoin and its underpinning technology.
Candlestick Arrangements

At the time of writing, BTC is up 27 percent and 11.5 percent in the last week and day respectively. The breach of $10,000 and a rally to $11,000 is a testament from bulls.
Expanding, as the interest around cryptocurrencies increase, BTC bulls are better placed to drive the coin’s price to new 2019 highs.
In response to this encouraging development confirming buyers of April and May, every correction is a buying opportunity. Ideal targets, in light of this surge, will be $12,000 and later $15,000.
Endorsing this view are BTC bull candlesticks banding along the upper Bollinger Band, hinting of underlying momentum as the third phase of a typical breakout pattern takes its course.
Technical Indicators
Even as prices and participation levels diverge, the FOMO moment expected following the breach of $10,000 could draw volumes. In that case, every dip is a buying opportunity. All the same, it would be ideal if the confirmation of this break is at the back of high trading volumes exceeding 31k of May 30th or better still, 47k of May 14th.
Chart courtesy of Trading View. Image Courtesy of Shutterstock
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Craig Wright Praised as Satoshi Nakamoto by The Council of Bogota

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Craig Wright Praised as Satoshi Nakamoto by The Council of Bogota
After the session with the Council of Bogota, Craig Wright reportedly received a special document recognizing his work in Bitcoin as Satoshi Nakamoto, adding to the earlier patents he’s registered with the U.S. copyright office in that regard.
Craig Wright Praised as Satoshi Nakamoto by The Council of Bogota

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Source: CoinSpeaker