Bitcoin ended 2019 with a bang, closing the year up nearly 100% from its January lows of under $4,000. Although the year was generally positive for BTC and most other cryptocurrencies, it is important to note that it is also down significantly from its 2019 highs of $13,800 that were set this past June.
Analysts are now noting that 2020 is likely to be another great year for the cryptocurrency, although there is one key near-term factor that could hold significant influence over where the cryptocurrency heads in the coming weeks and months.
Analyst: Bitcoin on Track to See Large Gains in Coming Months
At the time of writing, Bitcoin is trading up marginally at its current price of $7,250, which marks a notable climb from its daily lows of just over $7,100 that were set yesterday when bears attempted to push BTC to its key support at $7,000.
Buyer’s ability to hold the cryptocurrency above the support it has established within the lower-$7,000 region is certainly a bullish sign, although it is imperative to note that the crypto has been rejected at the mid-to-upper $7,000 region on multiple occasions over the past several days and weeks.
DonAlt, a popular cryptocurrency analyst on Twitter, explained in a recent tweet that he believes this bout of consolidation will ultimately result in a bull-favoring movement that could occur in the next 3-6 months.
“$BTC: I’m pretty sure we’re gonna bounce big time in the next 3-6 months,” he said while pointing to the chart seen below.
$BTC
I'm pretty sure we're gonna bounce big time in the next 3-6 months. pic.twitter.com/gfwhjLyJR1
— DonAlt (@CryptoDonAlt) January 1, 2020
This Potential Surge May Hinge on How BTC Trends in Coming Days
Importantly, in order for DonAlt’s bullish assessment of Bitcoin to be confirmed as valid, bulls may need to spark some activity in the coming days, as how it starts the new year could offer significant insight into where it will go for the rest of 2020.
Hsaka, another popular cryptocurrency analyst on Twitter, spoke about this yesterday, explaining that how BTC traded around the time of its yearly open in 2019 set the tone for the rally seen in the first part of the year, and the same goes for 2020.
“$BTC New Yearly Open: Despite all the euphoria and capitulation, 2019 turned out to be an inside bar. Hopefully not the case this year. Keep your eyes peeled out for the yearly open, it served as a strong pivot before the 2019 bottom,” he noted.
$BTC New Yearly Open
Despite all the euphoria and capitulation, 2019 turned out to be an inside bar. Hopefully not the case this year.
Keep your eyes peeled out for the yearly open, it served as a strong pivot before the 2019 bottom.
We're all going to make it frens. pic.twitter.com/m7YZ8zZyw4
— Hsaka (@HsakaTrades) January 1, 2020
It does seem as though 2020 is shaping up to be another great year for Bitcoin, as subtle hints of technical strength and upcoming events like its mining rewards halving could significantly bolster bulls.
Featured image from Shutterstock. The post appeared first on NewsBTC. origin »
This year is expected to have among the wildest crypto rallies yet. Investors are optimistic that the crypto-friendly Congress will pass legislation that propels the market forward. Several industry watchers believe Bitcoin could surge to $200,000 before the year ends.
As the year ends, a renowned analyst suggested that Bitcoin (BTC) could have a New Year rebound after the flagship crypto surged by 4. 2% to retest a key level. Related Reading: Altcoins To Explode In Early 2025: Analyst Says “Grand Finale” Is Around The Corner Bitcoin Sees End-On-Year Slowdown Bitcoin has struggled to hold the mid-zone of its one-month price range as the crypto market experiences an end-of-year slowdown.
Bitcoin has reentered the spotlight as analysts forecast six-figure price targets. Veteran trader Peter Brandt predicts that Bitcoin could reach $125,000 by the end of the year.
Bitcoin, although starting the year with a bang has now been quiet so far in terms of performance, especially following its peak back in March. Despite the halving in April of this year, Bitcoin has experienced modest gains compared to the excitement of previous years.
Bitcoin had the most volatile weekend in a year as Bitcoin slipped as low as $64,550 after reaching a new all-time high of $72. 760 on Thursday, March 14. As of press time, Bitcoin has recovered to trade around $68,300.
Bitcoin is currently experiencing a period of consolidation, with a keen eye on the $45,000 resistance level. Meanwhile, analysts at CryptoQuant project an optimistic future, predicting Bitcoin could soar to $50,000 by the end of the year.
Movement of dormant Bitcoin addresses has been sporadic this year, with most causing a stir and rising interest amongst the Bitcoin community. In the latest record of whale transactions this year, on-chain data has shown that a set of dormant Bitcoin from 2017 has moved for the first time in six years.
Bitcoin's performance over the last year showcased a complex journey of institutional involvement and market dynamics.
The interplay of institutional interest, futures markets, and miner dynamiThe post A dive into Bitcoin's past year as BTC devises the next move appeared first on AMBCrypto.
This year has been marked by significant volatility across the crypto market, including for Bitcoin, which has seen both gains and losses over the course of the year. Just a month ago in the middle of July, Bitcoin crossed over $30,000 and many investors saw this as the start of another bull run.
Bitcoin’s correlation with the Nasdaq 100 has fallen to just 3% in June, down from the overall 60% in 2022. BTC price has outperformed the stock index year-to-date and over the past year. Bitcoin price jumped to a year high last week after news of a spot Bitcoin ETF application by global asset manager BlackRock.
Since the start of the trading year, Bitcoin has maintained a 3-month bullish candle close and is on a path to stealing a fourth. 2023 has been an eventful year for the crypto industry and Bitcoin price, which rallied massively to the surprise of many crypto analysts this month.
Bitcoin (BTC/USD) price made a bullish breakout on Monday after spending the past few weeks in an extremely tight range. It jumped to a high of $30,481, the highest level since June last year. This recovery means that Bitcoin has risen by over 50% from its lowest point this year.
Quick Take Yesterday was volatile for Bitcoin — hitting $26,500 and $28,600 in one day.
The post Third biggest outflow of Bitcoin from exchanges this year – driven by whales appeared first on CryptoSlate.
The year 2022 has been challenging not only for Bitcoin but for the cryptocurrency market as a whole. Bitcoin, the most valuable cryptocurrency in the world, has seen a decline in its market value of about 65% over the entire year, leaving the crypto community reminiscent of the ‘good old days’.
Key Takeaways Inflation in Argentina is now near 100%, as savings in the peso are getting crushed Bitcoin, despite collapsing in the last year, is up in peso terms Weak currencies are often cited as benefits of Bitcoin, but in the case of Argentina, it would be worse, writes our Analyst Dan Ashmore Stablecoins present […]
The post Bitcoin is up in Argentinian Pesos over the last year, but natives should still avoid it appeared first on CoinJournal.
Someone would have been mistaken to think that Bitcoin (BTC/USD) could approach the end of the year at just $20,000. However, as the clock ticks, the reality is increasingly getting confirmed. Notwithstanding that, many analysts expected that Bitcoin would click $100,000 by the end of the year.
Bitcoin mining firm BitNile (NILE) plans to set up a bitcoin-based marketplace in the first half of next year to reduce the complexity of transacting in bitcoin.
Flagship digital asset Bitcoin (BTC) has had a rough year, falling 72% from its all-time high and losing more than 50% of its value this year alone.
The post Research: How low can Bitcoin price go? appeared first on CryptoSlate.
El Salvador’s first Bitcoin anniversary comes amid BTC losing over 60% of value in one year, but that doesn't really mean that the country’s Bitcoin experiment has failed.
Bitcoin is currently trading above $40k, but market experts are optimistic it will reach…
The post Bitcoin could hit $100,000 within a year, says Nexo CEO appeared first on Coin Journal.
Bitcoin price recovered to within $45k after sliding below $44k as analysts indicated probable swings for the flagship cryptocurrency. The release of US inflation rates seems to have had no effect on the king cryptocurrency.
Bitcoin started 2022 on a different trajectory than the one expected by most traders. Moving sideways for the majority of Q4 last year, the first crypto by market cap seems proposed to more volatility in either direction.
Bitcoin has been subject to a number of predictions as it nears the fourth quarter of the year. The price of the digital asset is still up at this point, and investors are expecting the run to continue.
The first half of 2021 finally concluded after a whirlwind of a rally, one leading to an equally painful correction. Bitcoin touched a new ATH level, but similar to 2017, it was unable to hold its forThe post The truth of what lies ahead for Bitcoin traders for the rest of this year appeared first on AMBCrypto.
While the price of bitcoin is more than 40% lower than it was 90 days ago on March 29, the number of bitcoin held on exchanges has also been reduced. Last year on the same day in June, 2.79 million bitcoin was retained on crypto trading platforms and a year later roughly 28.67% of the […]
Bitcoin performance this year has garnered interest from mainstream media, but regulatory hurdles have been an issue that the cryptocurrency market has grappled with for years. The US Securities and EThe post Will a US Bitcoin ETF get approved this year? appeared first on AMBCrypto.
The price of Bitcoin has been recording new ATHs this week and many have an opinion about how high the popular digital asset may rise this bull run. Former White House Director of Communications, AntThe post Here's why 'we will see $100K in Bitcoin before the year end' appeared first on AMBCrypto.
Bitcoin logged more record highs in its first official trading week of the year, raising hopes that it would keep rallying higher after closing the previous year with a gain of 302 percent. The benchmark cryptocurrency opened Wednesday with a wild upside move.
2020 has been a monumental year for the cryptocurrency market. For the world's largest cryptocurrency, Bitcoin, the year saw drastic dips in price as well as a new ATH set during the December 2020 bulThe post Bitcoin being 'favorite' of criminals: Gauging impact of guilt by association appeared first on AMBCrypto.
Bitcoin’s journey this year has been a bittersweet one. After a somewhat shaky start at the beginning of the year, the digital coin looks set to break boundaries now. The biggest cryptocurrency has had a marvelous fourth quarter of the year, reaching a new all-time high (ATH) in 49 days. Bitcoin has achieved over 270% […]
Bitcoin had a major breakout last night, taking the asset to a price well above $20,000 to close out what has been a stellar year for the cryptocurrency. Although 2020 was a monumental year for many reasons, it also marks a milestone for Bitcoin, in which a record has been set for the longest weekly […]
This year has undeniably turned out to be bitcoin’s year. Despite the coronavirus pandemonium, no asset class has served as a better hedge against inflation, an ideal safe haven than bitcoin. Moreover, the flagship cryptocurrency is the top-performing asset in terms of returns after bouncing back from the March coronavirus-induced crash. One analyst is noting […]
Bitcoin’s search results on Google are one of the hottest topics in the correlation narrative. You have for long read stories of Bitcoin’s correlation with gold, with the S&P 500, or specific The post Here's another reason to be optimistic about Bitcoin this year appeared first on AMBCrypto.
Pi Network (PI)’s is up +20% in the last 24 hours, hitting highs of $1. 74. While PI price remains 44% off its peak of $2. 99, buyers may push the token higher. Potential catalysts and which could catapult PI up include upcoming Pi Day and possible Binance listing.
zondacrypto enters the Swiss market with a strong impact, expanding its sports sponsorship portfolio to a new discipline – ice hockey. The leading cryptocurrency exchange in Central and Eastern Europe has become a partner of HC Davos, the 31-time Swiss champion, as well as the title sponsor of the club’s hockey arena, which is now […]
The post HC Davos ice stadium officially becomes zondacrypto Arena appeared first on CoinJournal.
Bitcoin’s price movement recently has underscored the importance of the short-term holder (STH) cost basis as a key momentum indicator. It has emerged as a vital threshold for the sentiment of this market.
Base network observed an exceptional day on March 10, reaching fresh heights in both token creation and trading volume. The number of tokens created on that day—2,023—by the prolific token creator Clanker, was not only a single-day record for Clanker but was also the highest total ever seen in Base network history for a day’s [...]
Offchain Labs, the R&D team behind the Arbitrum Layer-2 scaling solution, announced it will begin buying ARB tokens, reinforcing its long-term commitment to the Arbitrum ecosystem. The purchases will be made in a non-disruptive way in the open market, and will use a structured trading approach, with specific parameters, to ensure the way the trading [...]
There are numerous ways to make cryptocurrency in the cryptocurrency sector. These include trading, purchasing and holding currencies, and generating interest through cryptocurrency mining or other staking techniques.
Earlier this week, BCH attempted to resume bearish after losing grip above $350, although it later found support and bounced back strong. This led to a significant breakout, and its landscape is now changing.
