The Bitcoin (BTC) Trade-off, Price Could Tumble To $9,500

2019-6-30 19:10

Bitcoin (BTC) down 6.8 percent Systemically stable, BTC prices will continue to fluctuate thanks to Nakamoto trade-off

Price fluctuation is synonymous with Bitcoin. Drastic rise and falls of the tail end of this week differentiated the world’s most valuable asset from fiat. All the same, it is gradually morphing into a store of value and a settlement layer making it invaluable.  Even so, prices are susceptible and could slide to $9,500 or lower in days ahead.

Bitcoin Price Analysis Fundamentals

Cryptocurrencies and Bitcoin, in particular, are counter products of the current financial systems. Systemically, fiat currencies are unstable. Factoring the damage of the Great Financial Crisis, Satoshi Nakamoto created an alternative coin.

According to analysts, Bitcoin is loop-sided and seeking to address one pressing need that is not inbuilt in traditional financial systems. Always maneuvering and creating anti-dotes to resolve arising concerns addressing risks of fluctuating demand for cash, fiat systems are stable from the pricing point of view. That is why currencies as the USD and even the Euro are reserve currencies because of their limited price fluctuations.

Enter Bitcoin. Governed by mathematics, the world’s most valuable digital asset is impervious to third-party breaches. Secure and attractive because of the increasing awareness amongst the masses and unrivaled levels of decentralization, the Bitcoin network is an overwhelming success.

However, it appeared as if Satoshi’s architecture prioritized a stable underlying network over the state of the asset prices. It was a trade-off, and it will continue as long as Bitcoin as a system is without a central authority.

Emerging coins as Facebook’s Libra, on the other hand, introduces price stability. Vital as they are, they are susceptible to the systemic flaws to fiat systems thanks to their pegging.

Candlestick Arrangements

Overly, BTC prices are all over the place. Cooling off and retracing from this week’s high, bears could force liquidation in days ahead. Unattractive at it may seem, this correction is necessary and to some degree inevitable. It is easy to see why.

BTC has been on a roll. Evident from the chart are peaking prices where bulls are still in control. As a result of this overview, $11,200 is reliable support. All that is needed is a firm slide and close below this mark as a correction of the over-extension of June 26.

Any firm close with high trading volumes confirms the double bar bear reversal pattern of June 26-27 setting the pace for $9,500 and even $7,500 assuming the retracement is deep.

Technical Indicator

Leading this trade plan is June 27 bear bar. Accompanying trade volumes are light at 77k versus 82k of June 26. Therefore, for trend bull trend resumption, upswings above June 26 high must be with high participation ideally exceeding 82k.

Chart courtesy of Trading View. Image Courtesy of Shutterstock

The post The Bitcoin (BTC) Trade-off, Price Could Tumble To $9,500 appeared first on NewsBTC.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 69638.52 (+1.30%)
Объем 24H $41.586b
Изменеия 24h: 1.97 %, 7d: -2.98 %
Cегодня L: $66916.68 - H: $69638.52
Капитализация $1377.315b Rank 1
Цена в час новости $ 11094.22 (527.7%)

btc bitcoin trade-off price could tumble 500

btc bitcoin → Результатов: 126


Japan’s Metaplanet’s Bitcoin Holdings Rise to 530 BTC After Pulling Off Mind-Blowing Strategy

According to the latest announcement from Japanese investment firm Metaplanet Inc., its Bitcoin holdings have surged, rising to 530.717 BTC as of October 3. As revealed by the Tokyo-listed company, this increase in its Bitcoin bags was possible due to a smart options trading strategy, which led to the company earning more BTC and adding […]

2024-10-4 21:00


Фото:

Bitcoin STHs Supply Decreases By 1.31M BTC – A Sign Of Growing Confidence?

Bitcoin has remained above $60,000 for the past two weeks, holding strong as the broader crypto market bulges. This steady performance is fueling optimism among traders and investors alike.  According to key data from CryptoQuant, short-term holders are now selling for profit, leading to a notable decrease in BTC supply. This reduction in available BTC […]

2024-9-30 19:00


Bitcoin wallets dormant for 15 years move BTC after touching highs above $64,000

Satoshi era bitcoin wallets dormant since 2009, have moved 250 BTC to new wallet addresses The five wallets transferred BTC in batches of 50 coins each Bitcoin price traded around $63,500, having touched highs above $64,000 across major exchanges Several Bitcoin (BTC) miner wallets dormant for over 15 years have moved 250 BTC worth over […] The post Bitcoin wallets dormant for 15 years move BTC after touching highs above $64,000 appeared first on CoinJournal.

2024-9-21 12:46


Bitcoin Preparing for a Bullish Phase – New Cryptos to Hold During BTC Expansion

Despite the current bearish market sentiment, many seasoned analysts believe that Bitcoin (BTC) could soon break the $60k psychological barrier and lead the wider market into a bullish phase. The reason for this was explained in a recent post by Bitcoinsensus, suggesting that BTC whales are trying to position themselves for the next bull run.

2024-9-5 17:30


Bullish Bitcoin News? US Federal Reserve Set To Implement Three Rate Cuts This Year

As global economic uncertainty looms, Bitcoin (BTC) has experienced increased volatility and is struggling to maintain its footing above critical resistance levels lost over the past month. The largest cryptocurrency on the market remains in a precarious position, but emerging signs could bode well for the BTC price and the broader crypto ecosystem.

2024-8-30 03:30