Altcoin Analysis 2017 vs 2019: Delightful Surprise

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Altcoin Analysis 2017 vs 2019: Delightful Surprise
Some years ago there were not so many crypto enthusiasts who believed in the power of altcoins. Though Bitcoin is still a leader, some altcoins are showing quite impressive results in 2019.
Altcoin Analysis 2017 vs 2019: Delightful Surprise

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Source: CoinSpeaker

Bakkt Is to Launch Bitcoin Futures Next Month

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Bakkt Is to Launch Bitcoin Futures Next Month
Bakkt, first unveiled last August, has been working on regulatory approvals to begin offering the product over the past year. It is said to launch its services on September 23.
Bakkt Is to Launch Bitcoin Futures Next Month

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Source: CoinSpeaker

Fundstrat’s Tom Lee: Bitcoin Is a Safe Haven for Investors

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Fundstrat’s Tom Lee: Bitcoin Is a Safe Haven for Investors
Saying that Bitcoin can be viewed as a safe haven for investors, Thomas Lee added that Bitcoin has “done very well this year”. He still stays very optimistic about further BTC performance.
Fundstrat’s Tom Lee: Bitcoin Is a Safe Haven for Investors

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Bitcoin (BTC) Flashing Buy Signals but $9,200 Will Have to Be Tested First

BTC/USD has been unable to make a headway above $10,000.
Bitcoin requires a catalyst to rise above the resistance at $11,200.

Bitcoin continues to drag altcoins into the ‘crypt’. Following the drop from the former consolidation range above $11,200, BTC/USD has been unable to make headway above $10,000. The recent plunge failed to find support at $10,000 and $9,500 respectively. However, the price hit a low at $9,480 (on Coinbase) giving way for a shallow recovery.
The four-hour chart displays an asset that is yearning for a breather due to the immense selling activity. The short-lived recovery yesterday stepped above $10,400. Unfortunately, the diminishing buying power left a gap currently being explored by the bears.
BTC/USD 4-hour chart

Chart source: Tradingview
Bitcoin currently exchanges hands below the 23.6% Fib retracement level taken between the last drop from $12,335.03 to a low of $9,480. While several technical indicators are sending bullish signals, it is likely that Bitcoin will slide lower before a bottom is found.
The Moving Average Convergence Divergence stands at a slightly higher level compared to yesterday. Although leveling at -328, the MACD has a slightly positive divergence which signals existing buying power. At the same time, as long as the 50 Simple Moving Average (SMA) stays above the longer term 100 SMA, Bitcoin will have a greater potential to reverse the trend.
If the support in the zone between $9,480 and $9,500 fails to hold, BTC/USD could breakdown further. A slide to $9,200 will see fresh interest arise from the investors. More buying entries will sustain recovery above $10,000. Besides, Bitcoin requires a catalyst to rise above the resistance at $11,200 and assault levels around $12,000.
Bitcoin Key Technical levels
Trend: Bearish
Support areas: $9,480 – $9,500, $9,200 and $9,000.
Resistance zones: $10,000, $10,400 and $11,200.
MACD: Leveling motion suggests the beginning of ranging prices before a breakout.
 
 
The post Bitcoin (BTC) Flashing Buy Signals but $9,200 Will Have to Be Tested First appeared first on Coingape.
Source: CoinGape

Safe Haven? Bitcoin Price Falls Below $11,000 Alongside Gold Bull Rejection

Bitcoin price has been rallying throughout 2019, and most believe that the crypto asset is about to embark on its greatest bull run yet. As global economic tensions and uncertainty rise, so does the price of gold and its digital counterpart Bitcoin. The rise has only further driven Bitcoin’s safe-haven asset narrative, suggesting it’s the best store of value during times of economic collapse.
Before the economy can collapse, the price of both Bitcoin and gold have begun to pull back, showing a continued correlation between the two safe-haven assets. Given gold’s longevity, it’ll always be favored as an economic hedge, but will this latest drop start to cause investors to question Bitcoin’s safe haven narrative or does the continued correlation only further solidify that the narrative has legitimacy?
Continued Correlation Between Gold and Bitcoin Price Movements Only Further Cements Safe Haven Narrative
Throughout much of 2019, Bitcoin price has grown substantially, making it the best performing asset of the year thus far. In recent weeks, as a trade war brewing between the United States and China heats up, gold – the long lauded safe-haven asset investors move capital into during economic downturns – has started to rise ahead of a potential economic collapse. The crypto asset skyrocketing alongside gold has only further driven the recent narrative surrounding Bitcoin as a safe-haven asset itself, due to its hard-coded digital scarcity.
Related Reading | Prominent Investor: Mainstream Finance Is Now Considering Bitcoin As a Safe Haven Asset 
The positive sentiment and interest from institutional investors as a safe-haven asset has helped Bitcoin price climb as high as $13,800 before it was rejected. Over the last few weeks, the crypto asset has maintained much of its bullish momentum and made another attempt at retesting the former high.

Gold, on the other hand, had a bull flag breakout, which has now been rejected back down to levels below where the breakout occurred. With Bitcoin price following gold with such parity, it’s not too surprising to see that BTC value has also fallen further, and has dipped below $11,000 on some exchanges. Price action has bulls trying to push the price of the leading crypto asset back above the important psychological price level.
Gold, which rallied over $100 since the start of the month, saw a rejection that retraced roughly 50% of the gains. Since August 1, Bitcoin price rose from around $10,000 to $12,000 where it topped out, making the current price level a 50% retracement that is right in line with gold’s drop.

The two assets have been tightly correlated for some time, and the more they show correlation the stronger Bitcoin’s safe-haven asset narrative becomes. Bitcoin, along with gold, has recently joined the same conversation as other safe-haven assets such as the Japanese yen and Swiss franc, all sought for their long-term relative stability, sans Bitcoin – known for its notorious volatility.
Related Reading | Bitcoin Store of Value Narrative Turning Toward Safe Haven Asset 
The increase comes from both institutional investors warming up to Bitcoin as they consider gold, and crypto investors taking an increased interest in gold as the global economy reaches the bring of potential destruction. The increased demand has caused more crypto exchanges, such as eToro and PrimeXBT, to offer gold prominently alongside Bitcoin to crypto traders.
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Crypto Analyst: Bitcoin Price Could Be Trapped in Tight Range Until Halving

Bitcoin price action has turned bullish in anticipation of its upcoming halving since the start of 2019, and the leading crypto asset by market cap has only recently started to take a pause to consolidate on weekly price charts.
Weekly resistance at $11,500 continues to play an important price level to beat, while bears have been unable to push below the mid-$9,000 range. One crypto analysts believe that the two price levels will act as a tight trading range on weekly price charts for the rest of the year and may not be broken until Bitcoin’s halving in May 2020.
Bitcoin Price Could Be Locked In $2,000 Range For Rest of 2019
In recent weeks, Bitcoin price was rejected at $13,800 after a three-month-long parabolic rally, and since then it has been ranging and consolidating. The market has, again and again, tried to choose a direction but indecision has kept Bitcoin price ranging between recent local highs and lows.
Related Reading | Bitcoin Price Weekly Close Above $11,500 Would Be First in Nearly 18 Months
It’s something that crypto investors and traders may want to get used to, as it could last the rest of the year, and extend into 2020 until Bitcoin’s halving in May of next year.
According to a weekly Bitcoin price chart shared by a prominent crypto analyst, the first-ever cryptocurrency could be trapped in a tight trading range between weekly resistance at $11,500 and weekly support at $9,500. The chart suggests that BTC could be locked in the range until Bitcoin’s halving. Others believe that Bitcoin price could be as much as $55,000 by that time.

BTC Weekly:
Range bound until the halving? pic.twitter.com/1HooowmAtP
— Nunya Bizniz (@Pladizow) August 10, 2019

The theory would fall in line with Bitcoin entering a reaccumulation phase and natural profit-taking, following post-accumulation markup selling, but before the real bull run begins.
Alternative BTC Range With Wider Weekly Resistance and Support
BTC and other crypto-assets are highly volatile and often see massive, few-hundred and even few-thousand dollar price movements. By raising weekly resistance to the next logical level, and doing the same for support, a more realistic and less restrictive trading range is demonstrated.

Both charts would still have Bitcoin price trading in a range for the remainder of the year through halving, but would also allow for a deeper correction and touch of a trend line extending back to Bitcoin’s bottom trading range below $4,000.
At those lows, Bitcoin price was trading in a $1,000 trading range, but at that point represented over 25% of its price. At current prices, 25% of its price would be roughly $2,750 adding further credence to the tight trading range in the first chart as the market continues to show indecision.
Related Reading | CNBC Host Pushes Bitcoin, Cites Halving and Scarcity As Catalyst for $55K BTC 
If either of the major weekly supports or resistances are broken with a weekly candle close, the wider range could be in play. Or, none of this happens and Bitcoin price reaches $55,000 according to other widely adopted models in circulation.
The post Crypto Analyst: Bitcoin Price Could Be Trapped in Tight Range Until Halving appeared first on NewsBTC.
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Litecoin Halving Will Occur on Monday: How Will It Affect LTC Price?

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Litecoin Halving Will Occur on Monday: How Will It Affect LTC Price?
Charlie Lee, the founder of Litecoin, turned to his Twitter audience to announce that in a couple of days LTC halving is to be performed.
Litecoin Halving Will Occur on Monday: How Will It Affect LTC Price?

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Source: CoinSpeaker

Bitcoin Price Rejected From $10K, Or the Start of a Bullish Reversal?

This morning, July 31, 2019 Bitcoin price soared from lows around $9,500 to a local high of $10K before the leading crypto asset by market cap took a short pause.
Bears have been in control ever since Bitcoin price was rejected from $13,800, and has struggled to maintain the bullish momentum it has had behind it since the early April rally first began. But Bitcoin price is also not going down without a fight from bulls, who may now be turning the tide if the push above $10K can be maintained.
Bitcoin Price at $10K: Bearish Continuation or Bullish Reversal?
Over the month of July, Bitcoin price has fallen steadily from its June highs near $14K. After a powerfully violent rejection that resulted in a flash crash that knocked out most exchanges, Bitcoin has struggled to revisit highs and continues to set higher lows and lower highs – the exact definition of a downtrend.
Related Reading | Bitcoin Historical Monthly Performance Could Shed Light on What’s Next for Crypto 
But as the first-ever crypto-asset appears to be on the ropes and flirting with further downside, bulls have begun to show signs of strength once again, and the push to $10K may be the beginning of a full-blown bullish reversal.
Weekly support at $9,400 may have proven too strong for bears to break through, and have given bulls the slight upper hand in recent days. However, Bitcoin will need to break and close above weekly resistance around $10,200 in order for the reversal to have the momentum that bulls will need to set a higher high and resume Bitcoin’s uptrend.

Pivotal Moment for The Short-Term Future of BTC and Crypto
Bitcoin price is clearly at a pivotal point. During the last bull market, corrections rarely exceeded a 30% drop, and each 30% drop resulted in roughly a 150% increase from each correction. With the current correction slightly over 30%, if Bitcoin sets a new high from here, it’s almost certain that a new bull run is confirmed and the price per BTC could reach a new all-time high in a matter of weeks to months.
The bearish scenario would have seen this small rejection at $10K to be the final blow to bulls who are floundering from the recent downtrend and sell pressure.
Related Reading | United States Regulators Begin Crack Down on Crypto and Bitcoin Crime 
Sell pressure has only picked up in recent days, following the massive rejection at $13,800. Since then, the United States government has come out in full force, making threats, negative statements, and rolling out stiff regulation across the crypto industry. The fear, uncertainty, and doubt have caused altcoins to capitulate, Bitcoin price to drop, and the entire market to come to a standstill as can be seen in trading volume dwindling.
Where Bitcoin price goes in the next week or so could define its trend for the remainder of the year. Will we see a new all-time high after the important FOMO trigger at $10K is breached again, or is that FOMO trigger now resistance and this was the last stand for worn-out bulls? only time will tell.
The post Bitcoin Price Rejected From $10K, Or the Start of a Bullish Reversal? appeared first on NewsBTC.
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Binance Now Offers Block Trading Services via Binance Trading

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Binance Now Offers Block Trading Services via Binance Trading
Binance Trading announced a service called Block Trading. With it, users can trade their cryptocurrencies worth over 10 BTC with over-the-counter methods (OTC).
Binance Now Offers Block Trading Services via Binance Trading

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Source: CoinSpeaker

Bitcoin Price Will Reach $20,000 Before the Year Ends, Believes Mike Novogratz

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Bitcoin Price Will Reach $20,000 Before the Year Ends, Believes Mike Novogratz
Billionaire Bitcoin bull, Mike Novogratz, has predicted that Bitcoin price will hit $20,00 before the year ends. He said this during a Bloomberg interview where he also touched on Facebook’s Libra.
Bitcoin Price Will Reach $20,000 Before the Year Ends, Believes Mike Novogratz

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Source: CoinSpeaker

Bitcoin Price Drops 5% Even After Bakkt Launched Its Much-Anticipated Futures Trading Platform

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Bitcoin Price Drops 5% Even After Bakkt Launched Its Much-Anticipated Futures Trading Platform
Recently Bitcoin price dropped by a little more than -5%. This price movement is rather unexpected since the community anticipated the opposite after Bakkt announced their test launch of its new Bitcoin futures trading platform.
Bitcoin Price Drops 5% Even After Bakkt Launched Its Much-Anticipated Futures Trading Platform

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Source: CoinSpeaker

IBM Stock Down Despite Earnings, Cloud Revenue Beat Wall Street View

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IBM Stock Down Despite Earnings, Cloud Revenue Beat Wall Street View
The latest Q2 reports show that IBM’s earnings and cloud revenue surpassed the projected street view while Bitcoin plunged below $10,000 as the US Senate has a go at Facebook’s Libra.
IBM Stock Down Despite Earnings, Cloud Revenue Beat Wall Street View

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Bitcoin’s Price May Rise after Congress Hearings on Facebook’s Libra Сryptocurrency

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Bitcoin’s Price May Rise after Congress Hearings on Facebook’s Libra Сryptocurrency
Investors hold their breath in anticipation of Congress Hearing on Facebook’s Libra set up for July 16-17. What’s in store for Bitcoin?
Bitcoin’s Price May Rise after Congress Hearings on Facebook’s Libra Сryptocurrency

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Trump Has the Power to Ban Bitcoin, But Can He Really Do It?

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Trump Has the Power to Ban Bitcoin, But Can He Really Do It?
Trump says that he is not a fan of cryptocurrencies, especially Bitcoin, but can he ban its transactions and operations in the United States or Congress stands in his way legally?
Trump Has the Power to Ban Bitcoin, But Can He Really Do It?

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Bitcoin Price & Technical Analysis: It’s Nothing Awful in the BTC Correction

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Bitcoin Price & Technical Analysis: It’s Nothing Awful in the BTC Correction
The BTC has been undergoing a correction for two days already. Generally it is trading at $11,500.
Bitcoin Price & Technical Analysis: It’s Nothing Awful in the BTC Correction

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Source: CoinSpeaker