Crypto Analyst: Don’t Expect Altcoin Season Until New Bitcoin All-Time High

Since the start of 2019, crypto investors and traders have been watching and waiting for the promise of “alt season,” a period in which altcoins outperform Bitcoin significantly. There have been a few glimmers of an alt season starting, but Bitcoin’s parabolic rally has stopped it short in its tracks.
A “real” alt season may still be aways off, and not until Bitcoin reaches a new all-time high, according to one prominent crypto analyst and if past performance can help predict the future.
Is Alt Season Almost Two Years Away Still? Depends on Bitcoin All-Time High
Bitcoin continues to rise, yet altcoins continue to bleed out both in USD value and relative to their BTC trading pairs. Crypto traders are dumping their alts into the first ever cryptocurrency, either due to FOMO’ing into Bitcoin’s rally, or through derisking in the face of mounting regulatory pressure and one of the largest crypto exchanges eventually cutting off a portion of its userbase.
Related Reading | Clearing Up the Crypto Confusion For US-Based Binance Traders of Altcoins 
The increased sell pressure on alts has helped Bitcoin break through resistance, completely ignored a massive head and shoulders pattern the market was eyeing, and continued on its rally towards $10,000.

First "real" alt season started after we hit new ATH back in February 2017.$LTC went up 700%$XLM went up 3200%$XRP went up 5300%$ETH went up 1060%
It also happened after the #Bitcoin halving which is in 339 days.
Is it gonna be different this time?
— Livercoin (@livercoin) June 17, 2019

However, according to one crypto analyst, the leading crypto by market cap will need to push even higher in the coming days for alt season to occur once again.
According to the trader, the first “real” alt season stared after Bitcoin set a new all-time high back in February 2017. The previous all-time high had been set back at the top of the 2013 bull run peak, where Bitcoin had reached over $1,o00 for the first time.
In February 2017 when Bitcoin breached that number for the first time, a “real” alt season kicked off that saw Litecoin increase by 700%, Stellar gain as much as 3200%, Ethereum grow by 1060%, and Ripple explode a staggering 5300%.
Related Reading | Crypto Analysts: Ripple Most Bullish USD Chart, XRP Target 2000% Gains 
All of this happened after the Bitcoin halving, which is still 339 days away. It’s surprising that alt season may be so far off, as altcoins have been in their longest accumulation pattern yet. Regardless of the timeframe, most crypto analysts agree that at least three of the four aforementioned altcoins are primed for a massive movement upward, both in USD value and relative to BTC. These coins are expected to greatly outperform Bitcoin in the coming months.

Another interesting fact :
Both bottoms formed +- 530 days before the Bitcoin halving.
A potential alt season is only 600 days away!!! You better start accumulating.
— Livercoin (@livercoin) June 17, 2019

Also, it’s important to note that the Bitcoin halving is still 339 days away, but both bottoms – Bitcoin and alts – formed about 530 days before the Bitcoin halving. This means that any potential alt season could be as far as nearly two years away.
But as we’ve seen with Bitcoin transitioning from bear market into bull, the momentum this time appears to be stronger now that institutions have become involved, and the market cycle seems to be increasing in rate. Should this be the case, much like Bitcoin left lows sooner than expected, an alt season may also arrive sooner than anyone is prepared for.
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Crypto Analyst: IEO Tokens Matic, Harmony One, More to Bring 1000x Returns to Holders

Upon any visit to crypto Twitter or any online cryptocurrency community for that matter, and you’ll be hard pressed to avoid over the top shilling of the recent IEO tokens, notably the Binance Launchpad-born tokens, Harmony One, Celr, Fetch, BitTorrent Token, and the Coinbase Ventures-backed Matic.
While the shilling may be relentless, the incessant mentions of these tokens could be other crypto traders doing the community a solid. A common thread throughout the crypto space is that these hot and hyped, shiny new tokens have serious momentum behind them, and have never experienced a bull market before.
Matic, Fetch, Celr, BitTorrent, Harmony One: IEO Coins Could 1000x
During the 2017 crypto bull run, there were two major factors in capturing the mainstream media and public’s attention: Bitcoin and its meteoric rise to its all-time high of $20,000, and the initial coin offering craze that allowed eager crypto investors to get in on the ground floor of a blockchain or crypto startup, and often led to enormous gains. But that bubble popped, and ICOs quickly found themselves in the crosshairs of the United States Securities and Exchange Commission and those that launched the popular crowdfunding efforts are being accused of unlawfully offering unregistered securities.
Related Reading | Matic Moons on Binance Launchpad Endorsement 
Now, as a new bull market begins to take shape, crypto analysts are expecting tokens born from a new crypto crowdfunding trend called the IEO – the initial exchange offering – to replace the ICO explosion, and the early coins birthed by such a format could bring crypto investors who buy and hold the new assets as much as “1000x” returns in future.

I haven’t said anything so far about$ONE$MATIC$BTT$CELR$FET
But if the past ICO pattern repeats, some of the new IEO coins may deliver 100-1000x returns from IEO price/lows with Buy & Hold approach
Does any of them have a potential & Why?#Bitcoin #Crypto #IEO REPOSTING
— Trading Room (@tradingroomapp) June 11, 2019

According to one crypto analyst, these IEO tokens, namely the Binance Launchpad tokens, are primed and ready to become the top performers during the next crypto bull run that is starting to take shape. The bullish analyst believes that these IEO tokens could repeat the pattern of the ICO boom, and “may deliver 100-1000x returns” with a buy and hold strategy.
This means that simply buying an IEO early enough, could bring investors 1000x returns without having to make any additional trades.
Price Discovery and Lack of Resistance Can Send New and Hyped Crypto Prices Sky High
It’s not just IEO tokens like Matic and Harmony One that are being positioned by leading crypto analysts as the next bull run’s top performers.
Like IEO tokens, some other, newer cryptocurrencies are garnering far more hype than any of the tokens from previous market cycles, except for maybe Litecoin, which has outperformed the rest of the space.
Other crypto coins with serious hype, are Ravencoin, Holochain, Tezos, Cosmos, and a select few others that have yet to experience a full-blown bull run. These tokens have also performed relatively well throughout the bear market.

Part of the reason for these tokens to surge so strongly, is due to the lack of the assets ever going through price discovery, and the lack of overhead resistance between current prices and the moon. But beyond these technical reasons, each of the IEO projects is also fundamentally sound, and has already received the support of the crypto exchange they were launched on.
Related Reading | Ravencoin, HoloChain, and Binance IEO Altcoins Expected To Skyrocket Next Bull Run
In a market driven on pure speculation, the most hyped coins often perform the best regardless of use case, price, ROI, and more. Such hype  could cause investors to FOMO hard into these shiny new tokens and cause them to 1000x as analysts suggest.
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Litecoin Price Nears 600% Returns, But Beware of the Potential 73% Pre-Halving Plummet

Throughout most of 2019, Litecoin – the cryptocurrency forked from Bitcoin’s codebase by former Google programmer Charlie Lee – has led the entire crypto space out of the depths of the longest bear market on record. Much of the bullish sentiment surrounding Litecoin price is being driven by pre-halving speculation. Profit-hungry crypto investors have been buying up Litecoin ahead of a potential price increase.
But with Litecoin’s halving less than 60 days away, and with the asset nearing 600% returns for investors who boldly took a risk and bought the bottom back in December in anticipation of the pre-halving pump, the rally may soon be running out of steam. One crypto analyst believes that Litecoin price still has room to climb, but has issued an ominous warning that a potential 73% drop could be ahead in the coming days.
Crypto Trader Expects LTC/BTC Ratio to Hit 0.034 In Pre-Halving Spike
Litecoin often leads the crypto market. And ahead of its halving, most of the crypto community has considered the silver to Bitcoin’s digital gold to be a “no brainer” of an investment.
Related Reading | Can Litecoin Halving Spark Crypto Alt Season and Boost Bitcoin Price Higher? 
Each halving reduces the block reward miners receive for validating the blockchain. Come this August, the amount of LTC miners receive will be reduced from 25 LTC – approximately $3,475 at current prices – to 12.5 LTC, also reducing the USD equivalent value miners receive for the same amount of effort.
The abrupt shift in the balance of supply and demand, investors believe, creates an increase in price that often gets front run.
That front-running has helped take the price of Litecoin from a bear market low of near $20 to a 600% return as the price nears $140 in the LTC/USD trading pair.
— Master litecoin ATH incoming (@xtdisnkfe) June 12, 2019

In the LTC/BTC pair, one prominent crypto analyst believes a massive, multi-month cup and handle formation will take the ratio to a target of 0.34 once the formation confirms. If Bitcoin price stays around $8,000, this would bring Litecoin price to roughly $270. If Bitcoin is to climb higher alongside Litecoin while it surges even higher on the ratio, Litecoin could potentially paint new all-time highs in USD value.

10 Days Left of Litecoin Price Pump, Secure Profits Ahead of 73% Drop
If the halving truly was already front run as many crypto investors believe, risk increases by the day that the earliest buyers will begin securing profits, which will stop the rally dead in its tracks and cause a powerful correction.
Related Reading | Crypto Analyst: Litecoin is a “No Brainer” 
The same crypto analyst that has lofty price targets for LTC/USD and LTC/BTC and has been accurate in his predictions thus far, believes there are only 10 days left in the rally before the tides sharply turn.

I think we have about 10 more days of litecoin pumping…
I’ve started to move some out of litecoin into bitcoin
If you look at 2015 45 days before they halving the price peaked and drop 73% be aware
45 days will be June 22
Protect some of your profits especially if your new
— Master litecoin ATH incoming (@xtdisnkfe) June 11, 2019

According to the last Litecoin halving back in 2015, the final days leading up to the halving caused Litecoin to absolutely moon, doubling in value relative to Bitcoin. Immediately after buyers began taking profits, Litecoin price fell 73%, as early investors dumped on those FOMOing in too late.
That dump occurred 45 days ahead of Litecoin’s last halving. The next halving is in less than 55 days. When will you secure Litecoin pre-halving profits? Or will you be left holding a bag?
Featured image by Shutterstock
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$346 Billion Giant E*Trade Begins Marketing to Crypto Traders, Bitcoin Trading Desk Imminent?

As Bitcoin price surges once again, interest has returned to the crypto market in a major way. Not only are crypto powerhouse mainstays like Coinbase and Binance doing more than ever to cater to the growing demand across the crypto market, traditional asset managers like Fidelity have begun to enter the emerging market in hopes of bridging the gap between the asset class and institutional investors.
The latest major, traditional Wall Street investment firm to be rumored to be launching a cryptocurrency-focused trading desk, is E*Trade. And according to reports from around the web, the firm may have started targeting crypto traders via search term advertising, lending credence that the rumored trading desk may be closer to launch than expected.
Is E*Trade Testing the Crypto Market Waters Before Making a Big Splash?
At the close of April, sources familiar with the matter revealed to Bloomberg that investment giant E*Trade is close to launching a crypto trading desk, offering both Bitcoin and Ethereum – the two top most cryptocurrencies by market cap – to start before expanding down the line.
Related Reading | Bitcoin Price Recaptures 50% of All-Time High, But Google Search Remains Stagnant
While a spokesperson for E*Trade declined to comment on the story, recent reports from Twitter reveal that New York-based investment firm may be laying the foundation of an effort to become top of mind with crypto traders.

ETrade crypto coming #soon enough to be advertising for crypto terms on Google? (H/t @KingThies)
— Crypto Bobby (@crypto_bobby) June 9, 2019

According to the reports, searching Google for the search term “crypto trading” results in E*Trade being listed among Google’s advertising results, alongside San Francisco-based crypto exchange Kraken, and margin trading platform PrimeXBT. The three companies can be seen leveraging Google’s search term advertising product, formerly known as AdWords, in order to target crypto traders researching potential platforms.
The marketing tools allow companies to promote advertisements they create and specify, whenever the chosen search term comes up in a user’s search query. In this case, E*Trade is trying to capture market share away from other cryptocurrency trading platforms, by appearing in the Google search results inorganically when the term “crypto trading” is searched for.

If they *are* purposely targeting crypto traffic, my guess is that they are doing paid keyword research to judge traffic potential.
— Brad Michelson (@BradMichelson) June 9, 2019

It’s worth noting, that Google’s ad platform can pick up results from “broad match” terms, which in this case may simply be the keyword “trading” sans “crypto.” However, the company could very well be doing “paid keyword research” to “judge traffic potential,” according to Director of Market at BlockFi, Brad Michelson, who likely has experience with promoting his business via the same type of Google search term advertisements E*Trade is using.
The practice is the internet equivalent to traffic surveyors who are trying to determine how much potential foot or vehicle traffic a retail location may have, ahead of breaking ground. In the case of E*Trade, the company could be trying to get a feel for overall demand of a crypto trading desk ahead of its launch.
Related Reading | Crypto Assets Compared to Dot Com Domains Shows Unrivaled Growth Performance 
E*Trade’s fame stemmed from both its ease of use during the early days of dot com stock trading, and for its marketing campaign that proved that the platform was so simple to use, even a baby could learn to trade effectively. Should E*Trade once again offer an easy-to-use platform for the uneducated crypto investors, the company could help break down an important barrier preventing from the asset class from reaching mass exposure and adoption.
Bitcoin To Boom From E*Trade Entering Market?
According to data, E*Trade has over $346 billion of its client’s assets under management, which could see some of it make its way into the crypto market. For comparison’s sake, the entire cryptocurrency market cap of thousands of cryptocurrencies including Bitcoin, is only $254 billion, which many say is not representative of the total wealth stored in the asset class.

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Bitcoin Becomes “Money,” One Satoshi Now More Valuable Than Some National Currencies

Bitcoin has been dubbed a lot of things by many different people. It’s digital gold; a store of value; a cryptocurrency; it’s rat poison; it’s freedom from inflation; it’s borderless. But at its core, the one thing it aims to become the most, is money.
Many argue that Bitcoin has many years to go before it can be considered “money” in the traditional sense, however, the first ever cryptocurrency has taken a major leap from being “magic internet money” toward becoming “just money.”
One Satoshi Is Now Worth More Than These National Currencies
Satoshi Nakamoto, Bitcoin’s mysterious and pseudonymous creator, designed Bitcoin to be deflationary, giving it a core advantage over fiat currencies, and coded the cryptocurrency to be divisible by up to eight decimal spaces, or 0.00000001 BTC.
The lowest possible denomination of Bitcoin is worth a mere $0.000080 – a far ways off from even being valued at a penny, the lowest physical coin offered in the United States as fiat currency.
Related Reading | Bitcoin Sets New All-Time High In Addresses Holding at Least 0.1 BTC 
However, according to Bitcoin analyst Rhythmtrader, the lowest denomination of “magic internet money” – the satoshi, named after the cryptocurrency’s creator – is now worth more than the Iranian Rial, Vietnamese Dong, and Indonesian Rupiah – all national fiat currencies of third-world countries.

The smallest denomination of Bitcoin, a single satoshi, is now worth more than some national currencies.
0.00000001 BTC is worth more than the:
– Iranian Rial– Vietnamese Dong– Indonesian Rupiah
"Magic internet money" is now just "money".
— Rhythm (@Rhythmtrader) June 9, 2019

Just one satoshi or 0.00000001 BTC is worth over 3.3 Iranian Rial, 1.8 Vietnamese Dong, and 1.1 Indonesian Rupiah. For one satoshi to ever reach the equivalent value of one United States Dollar, each BTC would be valued at $100 million each.
Bitcoin is Even More Valuable To Countries Where One Satoshi Compares to Fiat
It’s interesting that third-world countries with struggling economies that have national fiat currencies valued on parity with one satoshi, are also the countries that would benefit the most and find the most value in using Bitcoin over their native currencies.
It’s in these countries where trust in fiat currency is low, inflation is high, and each country’s respective government regularly oversteps their boundaries when it comes to their citizen’s money.
Bitcoin and other cryptocurrencies were designed to be decentralized and void of any central controlling party. This puts the power and control over an individual’s money back into the hands of the individual.
Related Reading | Crypto Assets Compared to Dot Com Domains Shows Unrivaled Growth Performance 
This is a huge shift in thinking, as paper, fiat currency has long dominated the globe, replacing gold as the main transfer of wealth and value. Such an evolution doesn’t happen overnight, and until now, nothing else had the potential to replace fiat currency.
If Bitcoin does indeed become the global currency and is used widely as the main form of “money,” fiat currencies that are currently the “face” of money will fall out of favor, and eventually become a distant memory as the entire world goes digital.
Featured image from Shutterstock
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Majority of Crypto Investors Never Experienced Bear to Bull Transition

Bitcoin has now been in existence for over a decade, and the larger crypto market has now been through a few market cycles despite being a relatively new financial asset and emerging technology.
It wasn’t until Bitcoin’s media-fueled meteoric rise and the ICO explosion that put crypto on the radars of the mainstream public during the 2017 bull market. With so many crypto investors being pulled into the 2017 crypto bubble, the majority of crypto investors in the market have never witnessed a market cycle transition from bear, to bull, and have never experienced the beginning stages of a bull market.
80% of Crypto and Bitcoin Investors Bought In Around 2017 or Later
Markets cycle the same way across all any asset class. After peak exuberance and hype comes a crash that brings on anger, despair, and depression. And as was the case with the crypto market as Bitcoin rallied out of lows to over 100% gains in the matter of two months, as a bear market ends, investors are left in disbelief, are hesitant to pull the trigger, and still suffering from the crypto bear market version of post-traumatic stress disorder.
Related Reading | $10,000 Bitcoin Price Key Level To Trigger Widespread Public FOMO
Such is the case with the majority of crypto investors, as a new poll from leading exchange Binance via their Twitter account, where they polled users as to when they first entered the crypto market. The account cheekily pushes investors to “be honest,” making light of the influx of retail investors who bought the top of the bubble and were forced to “hodl” through a long, arduous bear market.

When did you buy your first #Cryptocurrency? (Be honest )
— Binance (@binance) June 9, 2019

According to the poll, which received a staggering over 40,000 votes, more than half of crypto investors who responded bought their first cryptocurrency in 2017. A grand total of 58% of respondents voted this way, with the remaining 42% split across those who got in after 2017 in 2018 and 2019, as well as those who got in in “2016 or earlier.”
This means that only 20% of all respondents ever experienced a bear market cycling into a bull market, which could explain why most crypto investors are experience such disbelief, and are confused as to where the market will move to next.
The remaining 80% of investors entered the space in the second half of the last bull run, only to experience what it’s like for a bubble to pop and the majority of the assets traded across the crypto market feel as much as 99% from their all-time high amidst the hype.
Related Reading | Next Bitcoin Bull Run Will Be First Cycle Supported By Established Financial Firms
While the poll does demonstrates how “green” crypto investors are, it also clearly highlights just how early it is as an asset class and emerging financial technology.
Featured image from Shutterstock
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Crypto World Is Bullish on Litecoin Price, But Was Halving Rally Already Front Run?

Since the start of 2019, Litecoin has been the light leading the crypto market out of its bearish tunnel and into a new bullish rally. After bear market lows were set around $20, the crypto asset has since went on to provide investors with 500% returns.
While many expect that Litecoin has only gotten started, and is a “no brainer” investment ahead of its upcoming halving, others conclude that the silver to Bitcoin’s digital gold could have already had its pre-halving rally front run, and further gains to the upside will be limited. In fact, some crypto analysts believe that not only has Litecoin price run out of steam, but the asset could plummet in the coming weeks despite hype surrounding the halving.
Crypto Analysts Majorly Bullish On Litecoin After Reaching “Fresh Highs”
With Litecoin’s halving less than 60 days away, all corners of the cryptosphere are bullish on the cryptocurrency designed by Charlie Lee.

Monsterously bullish on litecoin
1. Inverted head & shoulders2. Cup & handle 3. Previously parabolic July 2015
3 best litecoin charts
Find me a better one
Retweet $ltcbtc #litecoinhalving #ltc@TheCryptoDog @PeterLBrandt @APompliano @filbfilb @cryptorecruitr
— Master (@xtdisnkfe) June 9, 2019

Crypto analysts claim the digital currency displays one of the best charts across the market, but on its LTC/USD and LTC/BTC trading pairs. On the “ratio” Litecoin, a cup and handle or a inverse head and shoulders are forming – both bullish price patterns.
Related Reading | Crypto Analyst: Litecoin is a “No Brainer” 
The bullish sentiment has led to “fresh highs” in Litecoin, but the majority of it is driven by pre-halving hype.

Fresh highs for $LTC.
— Mati Greenspan (@MatiGreenspan) June 10, 2019

Litecoin’s halving will see the block reward miners receive for securing the network and validating blocks cut in half – hence the “halving” name – to just 12.5 LTC. Such an event tends to offset supply and demand of the asset, and is an event that investors front run in anticipation of enormous gains.

But Has the Pre-Halving Rally Already Been Front-Run?
Since Litecoin’s low near $20, the crypto asset has brought those willing to take a risk in the depths of the bear market incredible gains of 500%. And although the entire crypto market is bullish on Litecoin, the fact it’s already posted such gains could mean that it’s got little fuel left in its rocket to reach the highs crypto analysts are calling for.

RW + bear div
death looking imminent
support near 55-70
article on Chikun coming later this week for @bravenewcoin
— Josh Olszewicz (@CarpeNoctom) June 10, 2019

Instead, a large bearish divergence on the one-day LTC/USD price chart accompanied by an ascending wedge formation, could send the price of the asset back down to support near $55 to $70, claims crypto analyst, Josh Olszewicz.

The porfolio of people that fomo buy $LTC in July will probably halven too
— Walter Wyckoff (@walter_wyckoff) June 10, 2019

His theory is supported by a select few other contrarian and risk-averse traders and analysts, who warn that not only will Litecoin “halven” in the days ahead, so will the capital of Litecoin investors.
Related Reading | Can Litecoin Halving Spark Crypto Alt Season and Boost Bitcoin Price Higher?
If Litecoin price halvens, and not just the supply miners receive for each block reward, it would put the price target in line with the support levels on the price chart.
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Contrarian Bitcoin Upsets Bearish Investors, But Massive Head and Shoulders Still in Play

In the early hours of the morning, Bitcoin exploded upward to $8,000 from a double-bottom local low set over the weekend around $7,500. The rally upset overly bearish crypto investors and traders who had been expecting further downside in the price of the first ever cryptocurrency.
The brief, yet powerful green candle may have shocked bears, an ominous and massive head and shoulders has been forming on the price charts of Bitcoin and other leading crypto assets, suggesting that the bears may soon have their party, and the crypto market may see a sharp drop lower if the formation is completed and confirms.
Bears in Disbelief: Bitcoin Rallies From Local Low in Surprise Move
Oftentimes, the best move for investors is to take a contrarian stance from the rest of the market. Much like calls for million-dollar BTC were signals the last bull market top was in, calls for sub-$1,000 Bitcoin was equally exuberant.
Related Reading | Peter Brandt Bearish After Bitcoin Breaks Bullish Trend, Expects Further Reversal 
But it’s when the majority of the market is expecting it to trend in a specific direction, more often than not the market moves in the opposite direction.

when bears get cocky and my feed is 80% filled with 6k calls things like this happen.$btc
— BenjaminBlunts (@SmartContracter) June 10, 2019

After over 100% growth in just two months and a broken parabolic rally, the entire crypto market is anticipating a significant drop in Bitcoin – with many calling for targets of $6,000 and lower.

Nice 6% pump by $BTC
Sentiment was a little too bearish after that weekly close
Even I expected further downside
Range remains the same and would like to see a daily close above $8200
— Josh Rager (@Josh_Rager) June 10, 2019

The overly bearish expectations come after last night’s weekly candle close, which many claim is a bearish reversal signal painted on weekly price charts. 

The calls for $6,000 were quite preemptive as Bitcoin hasn’t yet broken below $7,400. In fact, a poll posted just moments before the sudden surge heavily skewed toward $7,200 over $8,000 as Bitcoin’s next target. The votes have since evened out as the poll is still live, and not even an hour after the poll was posted, Bitcoin had already touched $8,000.
Staring in the Eyes of Massive Crypto Market Head and Shoulders Formation
Bitcoin bulls may have bested the bears once again, if a massive head and shoulders that is forming on the price charts of Bitcoin and other major cryptocurrencies plays out, bears will soon be having a parade at the expensive of the bulls.

So NOW we gettin a head and shoulders….
— dave the wave (@davthewave) June 10, 2019

The powerful bearish reversal pattern began at the start of May when Bitcoin breached resistance at $6,000. A quick rise to around $8,200 happened, before the leading crypto by market flashed crashed forming the left shoulder.
— Peter Brandt (@PeterLBrandt) June 9, 2019

The surprisingly resilient crypto asset, then bounced back to over $9,100 before a violent rejection put the entire two-month rally in jeopardy.

$BTC Daily Chart.
Heading, no pun intended, into the right shoulder of the Head and Shoulders pattern should happen soon. After that, all bets are off. Could still take a week or so to develop. Expecting choppy higher prices this week. Proceed with caution.#BTC
— CryptoFibonacci (@CryptoFib) June 10, 2019

After falling to local lows below $7,500, Bitcoin has now revisited above $8,000 twice, signaling that the bulls are still putting up a fight – however, a break above $8,200 is required for the enormous reversal pattern to be invalidated.
Featured image from Shutterstock
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Venture Capitalist: India’s Ban on Bitcoin Will Only Increase Interest in the Country

This week, a report claims that certain government departments across the country are supporting an outright ban on the “sale, purchase and issuance of all types” or crypto including Bitcoin, and could lead to a jail sentence for up to 10-years in prison for using the digital asset class as its intended.
And while the Reserve Bank of India – the country’s central reserve bank, has denied the claims of any draft bill that would see cryptocurrencies banned, given the country’s opposition to the emerging financial technology, many expect the the RBI to follow through with signing the bill into law. However, should that happen, the crypto industry’s most prominent and influential venture capitalist believes it’ll only cause the interest in Bitcoin and other cryptocurrencies in the region to increase, having an opposite effect that the bill intends to.
India Moves to Ban Crypto Outright, 10-Years in Prison For Using
According to an exclusive report from Bloomberg Quint, India has proposed up to a 10-year jail sentence for using, mining, selling, or holding cryptocurrencies. India already has strict rules governing its citizens use of the digital asset class, but this proposed bill would further tighten the government’s grasp.
Related Reading | India Still Cautious Over Crypto, RBI Shelves Plans For Own Cryptocurrency
A response from the Reserve Bank of India to blockchain lawyer Varun Sethi denies any knowledge of such a draft bill, and says it received no communication from the central government regarding it. It further states it hasn’t endorsed such a ban.
RBI avoided answering other questions posed by the lawyer, including if the draft bill could be passed without the RBI’s support.

India Banning Bitcoin Will Have Opposite of Intended Effect
Thus far, the nation hasn’t been supportive of the budding financial technology, and has taken steps that prevent the growth of the industry. However, an outright ban of crypto has thus far not been part of the discussion.
Given the RBI’s denial, the report can only be considered a rumor until the government of India issues such a bill. But if such a proposal exists, and is set into law, one prominent crypto-focused venture capitalist says that it’ll have the opposite effect India is looking for.

India ain't messing around. This will, of course, have the opposite of the desired effect on bitcoin awareness and interest in the country
— Barry Silbert (@barrysilbert) June 7, 2019

Venture capitalist and founder of Digital Currency Group Barry Silbert, who is one of the most influential names in the crypto space known for driving the industry forward, says that the ban will only cause citizens in the country to become increasingly interested in Bitcoin and other cryptocurrencies.
Related Reading | Indian Bitcoin Trader Commits Suicide Over Losses Trading Crypto for Local Officials
Bitcoin was designed to be decentralized for the sake of removing the control governments have over their citizen’s money. It’s not too surprising for some governments and banks to see the risk Bitcoin and other cryptocurrencies pose to their longevity, which is why these countries are taking steps to derail any progress the asset class makes.
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Source: New

Bull Market Imminent? Why Investors are Stacking Ethereum, XRP, and Litecoin

With Bitcoin back into the public eye and mainstream media spotlight, and its price back into the green, speculation that a bull market is starting has begun to spread across the crypto market. The bullish sentiment has also spilled into Bitcoin’s crypto brethren – such as Ethereum, Ripple, Litecoin, and more – and a full-blown altcoin season is expected by most crypto traders.
The price of Ethereum has climbed by 5 percent in the past 24 hours following the impressive rally of XRP and Litecoin (source: coinmarketcap)
With a potentially profitable “alt season” ahead of us, investors are increasingly taking larger positions in altcoins, selling off their Bitcoin to load their bags. According to a new survey, crypto investors bags are heavily packed with altcoins in particular, which could shed some light into what transpires across the market in the coming weeks.
Poll: Nearly 50% of Crypto Trader’s Portfolio is Dominated by Altcoin Space
With crypto Twitter conversation lit up like the fourth of July talking about the promise of what an alt season can bring investors in the altcoin space for substantial returns, more and more investors are taking larger positions in Bitcoin’s competition.
According to a new poll by crypto analyst DonAlt, crypto investor’s portfolios are at this point comprised almost entirely of altcoins, rather than Bitcoin, which is generally considered the least risky digital asset aside from stablecoins.

How much of your portfolio is in altcoins?
— DonAlt (@CryptoDonAlt) June 6, 2019

The poll results reveal that nearly 50% of all crypto trader’s portfolios are comprised of “60-100%” altcoins. Altcoins are defined as any crypto asset that isn’t the original Bitcoin, including “major cap” alts such as Ethereum, Ripple, Litecoin, and more.
The Big Three: Ethereum, Ripple, and Litecoin Leading Alt Season Charge
It’s major cap altcoins like Ethereum, Ripple, and Litecoin that are driving much of the bullish sentiment in the market.

Crypto charts of interest.1. $LTCBTC has completed a significant buy signal.2. New recovery highs in XRP would be constructive with targets of .5688 and .6260.
— Peter Brandt (@PeterLBrandt) June 6, 2019

With Litecoin’s halving coming up, most crypto analysts conclude that taking a position in the asset designed by Charlie Lee is a “no brainer.”
Ripple is yet another large cap altcoin that crypto investors are expecting a surge in performance from. If past performance is an indicator of future performance, Ripple could explode in the coming days.
Ethereum also is poised for a powerful breakout, if Bitcoin can remain on solid footing. Many traders have been bullish on Ethereum for over a month now, but the asset continues to coil ahead of a major breakout.
Further driving the interest in the altcoin space, is the fever surrounding IEO tokens such as Matic, BitTorrent Token, Harmony One, and more. These assets, along with a handful of others that have yet to see a bull market, are expected to vastly outperform Bitcoin.
With crypto trader’s bags fully packed, if an alt season truly does kick off, the crypto market will once again be bringing investors returns beyond their wildest expectations.
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Bitcoin Returns 144,912% in 7 Years, Investors Always Wish They Bought More

Think back to the peak of they 2017 hype bubble and recall the dismay of investors who either missed out on buying Bitcoin cheaper, or regretted not buying more of the then skyrocketing crypto asset.
Then the bubble burst, the price of Bitcoin crashed well over 80%, giving crypto investors the chance they had hoped for in buying more at low prices. Now that Bitcoin is back trading above the important level of $6,000, those that missed the bottom will regret not buying back in December or at the start of 2019, and those that did catch Bitcoin lower, like all investors of the crypto asset, they will wish they bought more at the time.
It Doesn’t Matter When You Buy, You’ll Still Wish You Bought More Bitcoin
Buying Bitcoin at any point of 122 out of 125 months in existence would have led to positive returns for investors in the emerging financial technology with potential to disrupt money as we know it. Only three months has the price of Bitcoin been higher than it is currently, leading to those that bought in during those three months – around the height of the hype bubble – to be in the red.
Related Reading | Only 3 Months Exist Where Buying Bitcoin Resulted in Losses 
Despite the losses, eventually, they too will wish they had bought more Bitcoin. In fact, according to career trader Rhythmtrader, it doesn’t matter what year an investor bought BTC, “everyone always wishes they had bought more” or the crypto asset created by Satoshi Nakamoto.

Bitcoin returns:
1 year: +4%2 years +194%3 years: +923%4 years: +3,039%5 years: +1,101%6 years: +6,320%7 years: +144,912%
No matter what year they bought bitcoin, everyone always wishes they had bought more.
— Rhythm (@Rhythmtrader) June 6, 2019

Those that bought into the cryptocurrency prior to seven years ago, experienced returns beyond 144,000% – gains that are completely unheard of in traditional asset classes. Each year, the percentage of gains diminishes, as the price of the cryptocurrency grows. This further adds to the fact, that anyone who bought Bitcoin in the past, no matter when it was, likely wishes they had taken a bigger position.
In the future, Bitcoin is speculated to reach prices of $100,000 to “millions” per BTC. If that truly is the case and its potential as a global reserve currency is ever realized, absolutely ever individual person ever to invest a single penny into BTC, will have wished they were able to buy more.
Related Reading | Buy Bitcoin: Why Dollar Cost Averaging Is the Crypto Investor’s Best Bet 
Buying Bitcoin is as simple as a few clicks in most cases, and can be purchased everywhere from cryptocurrency exchanges, smartphone apps, physical ATMs, LocalBitcoins, and even at Coinstar machines. The ideal strategy for investing into Bitcoin is through a recurring buy strategy called “dollar-cost averaging” which has proven to be especially helpful for crypto investors who can struggle trying to time tops and bottoms in a such a highly volatile market.
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Bitcoin Bulls May Get Another Chance At $10,000 As Crypto Market Shows Strength

The saying goes, “what goes up, must come down.” Yet to everyone’s surprise, Bitcoin’s downside resilience despite an over 100% gain over the last few months of parabolic growth has continued to prevent the correction most analysts expect from ever occurring.
But now, as the crypto market is once again showing signs of strength, bulls appear to be gaining the upper hand. Should bulls be able to take the Bitcoin price above resistance at $8,200, the leading crypto by market cap should make another attempt at $9,000 and may finally revisit important bear market psychological resistance at $10,000.
Crypto Bulls Defend $7,000, Reclaim $8,000
Over the last couple of weeks, Bitcoin’s parabolic rally began to look like it was coming to an end, with the price of the cryptocurrency falling back below $8,000 for a local low around $7,400. After a strong bounce, resistance has turned support, and it could lead to Bitcoin price targeting $8,200, according to crypto analysts.

$BTC: Bullish Resistance Flips to Support
A close above current resistance will be a nice move for Bitcoin which could lead to a retest of the resistance in the $8200s
A break and close above $8200s would bullish for a further move up to high $8ks
— Josh Rager (@Josh_Rager) June 7, 2019

A break above $8,200, according to analysts, would lead to further upward momentum. The break back above $8,000 has already sparked FOMO-driven “spot buying” on some exchanges, from traders who think this rocket has more fuel left.

So much spot buying.
— wolf (@ImNotTheWolf) June 7, 2019

The FOMO could help take the price of Bitcoin closer toward $10,000 – a key rounded number that Tom Lee says will trigger a cascade of additional FOMO across the entire market.

$BTC chart update.. Still range bound between 7500 and 8000.
You'll know when we break out of this range for real, because we will be at 10K very quickly
— cryptocomicon (@cryptocomicon) June 7, 2019

Not everyone is convinced by the bullish movement, but those unconvinced still agree that $8,200 is an important level that if reclaimed, will set the direction forward in the coming days.

I don’t think we will actually see 8.2k on $BTC. Meaning I think if we are to dump today we will fall just short of it. If we do hit 8.2k it opens the doors up for much higher imo.
— Credible Crypto (@CredibleCrypto) June 7, 2019

Altcoin Sentiment Could Be Propelling Bitcoin Price Higher
Sentiment is particularly bullish across the crypto landscape, as prominent traders and analysts gear up for the eventual “alt season” most are expecting to occur.
Since Bitcoin is closely tied to all other cryptocurrencies, simply through its market dominance and leadership position, or through BTC trading pairs altcoins are bound to, one segment of the crypto market often pulls the other one along with it for the ride.
This is typically the case – when Bitcoin rallies, so do alts, and vice-versa. In a rare occurrence, starting with Bitcoin’s break above $4,200, the two highly correlated crypto assets began to diverge, with altcoins falling to new lows while Bitcoin went on to set new local highs relative to its USD value.
But now that tables have turned and crypto investors have become increasingly bullish on altcoins. Litecoin in particular has been called a “no brainer” by some analysts, while others have issued a clear signal that Litecoin is a buy compared to Bitcoin.

Ima all over $ltcbtc
— fil₿fil₿ (@filbfilb) June 7, 2019

Others, are telling crypto investors to be prepared for a “blast off” compared to what happened the last time Litecoin approached its halving.

This is what litecoin did 4 years ago before last halving…
be prepared for blast off #ltc #litecoin #bitcoin #btc #litecoinhalving @johnkim77 @cryptorecruitr @CryptoSavy1 @filbfilb @Josh_Rager @PeterLBrandt
— Master (@xtdisnkfe) June 7, 2019

It’s not just Litecoin causing crypto investors to become increasingly bullish on the crypto market as a whole. According to some crypto analysts, the altcoin market has been in the longest ever accumulation phase, which could be the perfect storm for the largest ever alt season.

Were now in one of the longest altcoin accumulation periods of all time
That means we could see the biggest altseason of all time soon
— Moon Overlord (@MoonOverlord) June 7, 2019

Due to all of these bullish factors, it’s easy to see why the crypto markets have started to surge once again. With Litecoin leading the charge, and the rest of the altcoin market potentially pushing Bitcoin higher, the crypto market hype train is starting to board once again.
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Crypto Analyst Reminds Traders That It’s Buy The Dip Season in Bitcoin

Since the start of April 2019, there have been many changes occurring across the crypto market as Bitcoin surges once again. The bearish sentiment of the year prior turned into disbelief and soon after, into hope that another bull run has started to emerge out of the depths of the bear market lows.
As the market cycles from bear to bull trends, how traders and investors approach taking positions too should change, and one prominent crypto analyst and trader is taking the opportunity to reminder crypto investors that when it comes to Bitcoin, it’s “buy the dip” season, and that shorting any bounces is a “risky” strategy to take.
Retracement, Not Reversal: Crypto Analyst Highlights Market Sentiment Shift
Now that Bitcoin’s parabolic rally has started to pull back, the sentiment across the crypto market has once again flipped from bullish to bearish in short order. But before the bears go ahead and put in that short order, they may want to reconsider, according to one prominent crypto analyst.
Related Reading | Only 3 Months Exist Where Buying Bitcoin Resulted in Losses 
Crypto analyst GalaxyBTC, tweeted a public service announcement reminding crypto traders and investors that the market has changed, and so should trading strategies.

Surprised on how bearish the sentiment is on this correction of a strong uptrend
People are actually waiting to short the bounce
Extremely risky play and the price could turn to the upside any moment, strong and fast, as it did before
This is a retracement not a reversal$BTC
— Galaxy (@galaxyBTC) June 5, 2019

According to the analyst, those that are looking to short any bounces occurring in Bitcoin price charts at support levels, are making an “extremely risky play.” Given how powerful Bitcoin can rally during bull markets, the trader reminds investors that the price “could turn to the upside any moment, strong and fast, as it did before.”
During bear markets, traders are encouraged to short every bounce at support, and sell into resistance. The opposite is true for bull markets, where “buying the dip” is the recommended strategy.
Many traders that got into the crypto market following the 2017 hype bubble have only known bear market, and may struggle to shake their bearish trading strategies. As the market cycle begins to change from bear to bull, traders should take a second look at the strategies they have become familiar with over the course of the last two years.
Bull markets move fast and violently, and most typical corrections in Bitcoin during a bull market have resulted in corrections of up to 30%, before propelling further upward once the previous level has been reclaimed.
Related Reading | Buy Bitcoin: Why Dollar Cost Averaging Is the Crypto Investor’s Best Bet 
At the time of this writing, Bitcoin’s parabolic curve has yet to be violated, which could result in further upward momentum before finally providing traders with a 30% or more correction for dip-buying. The current correction only sits at around 20% decline, and past bull market results suggest we could have further to fall before Bitcoin resumes its climb higher. Whichever way Bitcoin goes next, investors are advised to buy the dip, whenever that finally occurs.
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Peter Brandt Bearish After Bitcoin Breaks Below Parabola, Expects Further Reversal

After two full months of a parabolic uptrend, Bitcoin’s bullish momentum has started to wane, and a deep, overdue correction is expected by much of the crypto community. Following a strong rejection at $9,000, Bitcoin price has fallen below $8,000 where it’s retesting the former support turned resistance.
The break in Bitcoin price parabola back at the crypto asset’s all-time high of $20,000 resulted in an over 80% decline in value – a decline almost perfectly predicted by professional career trader Peter Brandt. In the wake of the break of Bitcoin’s most recent parabolic rise, the trader is back at it once again, calling for a 33% decline in the Bitcoin price that could take the asset to the $5,000 region.

Peter Brandt Targets $2K Bitcoin Price Target After Recent Rally “Doji Top”
At the start of April, Bitcoin left behind its range below $4,200 and never looked back, breaking through major resistance level after major resistance level with relative ease. The powerful bullish rally took the price of Bitcoin to a local high of $9,000 before a violent rejection sent the price plummeting $1,000 in a matter of minutes.
Price recovered, but was unable to re-enter a triangle chart formation, essentially confirming that the rally was indeed over.
Related Reading | Bitcoin Price Targets at Bottom Show That Crypto Markets Are Unpredictable
Another indicator the rally had ended, according to professional career trader Peter Brandt, is a “Doji top” on Bitcoin’s weekly chart. Doji candles at the top or bottom of a trend signals exhaustion of the said trend, and could indicate that a reversal is near.
Further evidence painted on the chart can be seen in increasingly smaller green candles leading up to the Doji. This week’s candle is already well in the red, and after four consecutive monthly green candle closes, the probability that Bitcoin closes the month of June in the red is high.

Doji top on weekly chart begins correction. $BTC
— Peter Brandt (@PeterLBrandt) June 4, 2019

In Brandt’s analysis that the “correction” beginning with the Doji top on the weekly chart, his chart appears to highlight a price target – depicted by the parabolic uptrend support seen in red, which states that BTC could fall all the way to $5,000. 
Such a target would suggest that a nearly 33% decline in value from here is next for Bitcoin holders who just recently shed their disbelief and moved into the hope phase that a new bull run may be beginning.
A drop of 33% to new Bitcoin’s cycle low would be a devastating blow to the entire crypto market, and potentially have long-term negative implications as most long-term moving averages would see a death cross once again.
Coming out of a bear market with such bullish momentum, it’s difficult to consider that Bitcoin price may fall back down to new lows, but Peter Brandt in the past has called the price targets of parabolic breaks with chilling accuracy.
Related Reading | Peter Brandt Calls For 80%+ Bitcoin Price Decline Over A Year Ago With Chilling Accuracy
Should the career trader be correct once again, there’s a lot more pain to come for Bitcoin investors. It’s also worth noting, though, that Brandt recently tweeted that Bitcoin had “stabilized” and was “dipping” his “toes” back into the water with a position in Bitcoin – an asset he’s repeatedly claimed to be bullish on long-term.
Take from his flip-flopping stance what you will, but there’s no denying the next days in Bitcoin are critical and will have a major impact on where the asset trends next.
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15 Crypto Community Members Targeted As SIM-Port Hack Trend Spikes

Last week, NewsBTC put a spotlight on the increasing need for account security for crypto investors, due to an emerging trend of SIM-port hacks that have resulted in investors having their accounts completely drained by cyber criminals. These cyber criminals gain access to a crypto investor’s phone number with the goal of intercepting SMS-based authentication codes that will allow the hackers easy entry into the investor’s sensitive accounts, such as personal email accounts, or even direct access to crypto exchanges themselves where assets are held.
Since then, reports of an additional 15 more crypto community members have been targeted in like-cases of SIM-port hacks, demonstrating how this emerging trend is rapidly becoming a major threat for all crypto investors.
More Crypto Investors Fall Victim to Growing SIM-Port Hack Crime Spree
According to Andrew Kang, co-founder of MinerUpdate and a new crypto startup called Stealth, he and 15 other members of the cryptocurrency community have fallen victim to a SIM-port hack.

Sim Swapped. Phone number ported. Thanks @TMobile
That’s at least 15 of us in the crypto community in the last week.
— Andrew Kang (@Rewkang) June 1, 2019

In most cases, these hacks result in a crypto investor’s accounts being wiped out. In Kang’s case, no losses have been reported and according to the former venture capitalist the hackers were only able to access a Telegram account due to his reliance on authenticator-based two-factor authentication instead of the SMS-based authentication the hackers had been targeting.
Related Reading | Google U2F Security Expert: Crypto is Like Catnip for Cyber Criminals
Hackers pose as an individual, claiming to be reporting a lost or stolen phone. The hackers are then able to gain control of the individual’s phone number, and use it to intercept SMS-based text messages containing sensitive account authentication codes. These codes area then used to gain entry into the individual’s Gmail account or other accounts, which are often tied to more sensitive accounts such as bank accounts or cryptocurrency exchanges.
In Kang’s case, having either Google Authenticator or Authy set up may have prevented him from experiencing any loss related to crypto assets he had stored on an exchange or web wallet. Others in recent reports haven’t been so lucky, as was the case with Sean Coonce, Engineering Leadership at BitGo, who published a story about how he learned the most expensive lesson of his life by not taking further precautionary steps to secure his crypto assets.
Interestingly, Kang and others who were affected in this latest string of attacks claim to have had “special instructions” in place on their T-Mobile accounts – instructions that were clearly ignored by company employees who were either negligent or working in cooperation with the hackers, as some crypto community conspiracy theorists suspect.
Related Reading | Pro League of Legends Gamer Robbed of $200K in Crypto in Sim-Hack
This past week, Coinbase enabled support for U2F (Universal 2nd Factor) security keys that add an additional layer of protection by requiring the physical key be in the account holder’s possession at the time of login. This prevents any hackers from illegally gaining access, and such an extra step will do away with any risk of SIM-port attacks and is a step all crypto investors should consider taking as this trend continues to grow.
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