Bitcoin’s firm bout of sideways trading over the past few days has muddied the clarity that some analysts previously had about the strength of BTC’s recent uptrend, as some traders are now eyeing its recent highs of $9,200 as a mid-term top.
It is important to note, however, that the crypto’s bulls have been ardently defending against a drop into the lower-$8,000 region, which does point to vitality amongst buyers.
Now, analysts are noting that an abundance of increasingly bullish macro factors could suggest that the crypto will soon see a movement up towards its 2019 highs.
Bitcoin Remains Caught in a Bout of Sideways Trading
At the time of writing, Bitcoin is trading up marginally at its current price of $8,675, which is around the level at which it has been trading at for the past several days.
Yesterday, bears did attempt to spark another sharp sell-off in hopes of erasing some of BTC’s recent gains, but this was quickly met with a significant amount of buying pressure that helped propel the cryptocurrency up to highs of nearly $8,800.
At this point, the crypto pushed up against a strong resistance level that hampered its momentum, which subsequently resulted in a slow grind downwards that has once again led it into the mid-$8,600 region.
Jonny Moe, one popular cryptocurrency analyst on Twitter, bullishly noted in a recent tweet that he believes if BTC is able to break above $9,200 and set a fresh local high, it will be at around $14,000.
“If we make another local high my money is on a $14k retest,” he concisely noted.
If we make another local high my money is on a $14k retest. $BTC
— Jonny Moe (@JonnyMoeTrades) January 22, 2020
What Factors Could Propel BTC To Fresh Multi-Year Highs?
If Bitcoin is to blast past its 2019 highs that exist at $13,800, there will likely have to be some sort of fundamental or technical catalyst to fuel this movement.
Satoshi Wolf – a cryptocurrency analyst on Twitter – explained to his 13k followers that he believes there are a few simple macro factors that make him bullish on BTC in the coming months.
“A good mate asked for my take on $BTC. The monthly chart says it all: 1. Price decline + volume decline = Bullish 2. Volume backed bounce off strong support = Bullish 3. Halving = Bullish. Until something changes I am Bullish on #Bitcoin and will do everything to get more,” he explained.
A good mate asked for my take on $BTC
The monthly chart says it all:
1. Price decline + volume decline = Bullish2. Volume backed bounce off strong support = Bullish3. Halving = Bullish
Until something changes I am Bullish on #Bitcoin and will do everything to get more. pic.twitter.com/XGWxLUpCJF
— Satoshi Wolf (@SatoshiWolf) January 22, 2020
The coming few weeks will likely offer insight into how the ongoing bout of consolidation will resolve, but the aforementioned factors do seem to suggest that the crypto will see some further near-term upwards momentum.
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Chainlink has seen a massive price rise in recent times, surging to fresh all-time highs in July of 2019 concurrently with Bitcoin’s rise to its 2019 highs of $13,800. Although both cryptocurrencies have both retraced from these highs, LINK is still trading up significantly from its year-to-date lows.
Bitcoin has been struggling to find any significant and sustained buying pressure in the time following its retrace from its late October highs of $10,600, but its recent surge from lows of $6,500 was the first time in weeks that bulls put up a significant fight against bears.
Ethereum (ETH) has been incurring significant selling pressure over the past couple of weeks, mirroring the bearish price action that Bitcoin has been facing in the time since it plummeted from its recent highs of $10,600.
Despite positive news and recent highs, the Chainlink price movement has been bearish. Chainlink announced on November 13 that it had launched its community advocate program. The program continuously searches for advocates who will add value to the product by engaging in events in order to increase referral leads, sale references and contribute to higher […]
The post Chainlink’s Wyckoff Chart Suggests a Bearish Market Cycle Is Near appeared first on BeInCrypto.
Bitcoin (BTC) has been on a wild ride over the past several weeks, which first began when it incurred a meteoric rally that sent its price surging from lows of $7,300 to highs of $10,600 – a move that marked one of the largest single-day movements ever experienced by the cryptocurrency.
Bitcoin has inched higher overnight after facing a short bout of consolidation within the lower-$9,000 region. BTC still has a long way to go before it revisits its recent highs of $10,600 that were set at the peak of the recent rally.
According to Max Keiser, a financial commentator, China’s cryptocurrency DCEP will be backed by gold and not the US dollar. He also noted that gold is currently making new significant highs against flat currencies.
Binance futures trading is hitting all-time highs. Now, to further facilitate trading, the leading exchange has updated its mobile application. This update allows users to increase their trading position at up to 125:1 leverage.
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The recent Bitcoin (BTC) jump from $7,300 to $9,700 has renewed bullish expectations. Just three days ago, you had analysts calling for a return to the $3,000 lows — gold bug Peter Schiff even noted that $2,000 was in the cards; now, all eyes are on new all-time highs for Bitcoin.
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After bitcoin’s parabolic renaissance sparked hopes of new highs back in April, the expectation of BTC reclaiming $20,000 has become a fleeting reality. In recent weeks, bitcoin has sluggishly ranged between $10,000 and $11,000, causing its trademark volatility to vanish.
After bitcoin's parabolic renaissance sparked hopes of new highs back in April, the expectation of BTC reclaiming $20,000 has become a fleeting reality. In recent weeks, bitcoin has sluggishly ranged between $10,000 and $11,000, causing its trademark volatility to vanish.
Bitcoin investor Tuur Demeester says despite the recent dip in crypto prices, we're not in a bear market. Rather, he insists this is a "post ICO-bubble bitcoin bull market. " The ICO bubble occurred during the 2017 crypto bull market, when the bitcoin price approached $20,000.
Bitcoin’s recent surge up to highs of over $10,800 drastically shifted the overall market sentiment and had led many investors and analysts alike to believe that BTC was highly likely to move past $11,000.
The trade war between the United States and China is reaching new highs recently as the Chinese yuan keeps falling in value. Because of this, some signs that Chinese investors are starting to buy Bitcoin are starting to appear these days.
Bitcoin has found some stability within the mid-$10,000 region over the past couple of days after incurring significant volatility earlier this week. This stability marks a bout of consolidation that comes shortly after BTC’s massive surge from the lower-$9,000 region to highs of roughly $10,800, which is where it faced some levels of resistance.
It now appears that Bitcoin’s recent surge from lows of roughly $10,000 to highs of over $10,500 was simply a flash in the pan, as BTC has now erased nearly all of the gains it incurred during this movement.
In 2018, IDEX was undoubtedly the uncontested leader within the decentralized crypto exchange space. The then behemoth of decentralized exchanges frequently ran 24h trading volumes of $5million USD and was responsible for the majority of transactions in the Ethereum network.
Tom Lee, one of the senior analysts of Fundstrat Global Advisors, has recently affirmed that Bitcoin is the “genuine safe haven” asset during a recent interview for Fox Business. According to him, whenever there is political turmoil, crypto prices tend to go up a lot.
Across the crypto market, there’s extreme pain, fear, uncertainty, and doubt. Bitcoin is pulling back from recent highs, and altcoins like Ethereum, Ripple, and others have only bled out and fallen deeper to new lows.
Bitcoin (BTC) has long been referred to as a ‘safe haven’ asset, protecting investors’ wealth in times of global uncertainty. In recent times, the pioneer cryptocurrency has witnessed growth (in adoption and value) in countries with geo-political and social issues such as the recent boost in price following the ongoing U.S-China trade war. On October […]
A number of fundamentals have been driving Bitcoin in recent weeks, such as the escalating US China trade war and the UK’s exit from the EU. Some analysts foresee a new all-time high for BTC on the back of one of these events.
With both the Dow Jones and S&P 500 hitting record highs recently, you would be forgiven for thinking that Donald Trump’s stock market has been a runaway success. However, the recent trade war turmoil has shed light on an extraordinary fact: the Dow and S&P have gone nowhere since the tariffs began in 2018.
Bullish divergence has become visible on the 4 hour chart as Litecoin consolidates within a tight range. This is the result of the previous breakout mentioned in a recent analysis. Litecoin 4 Hour Chart Analysis On the 4 hour LTC/BTC chart, we can see a bullish divergence evident by the three higher highs on Maxx Momentum.
Bitcoin and the aggregated crypto markets have been facing significant downwards pressure over the past couple of days that has led markets to retrace significantly from their recent highs that were set in late-June.
Binance’s Binance Coin is now emerging as the best performing cryptocurrency of 2019, despite its recent $40 million BTC hack loss. As per market data, it is the closest altcoin to its all-time high value, followed by Chainlink and Bitcoin SV.
Litecoin has broken the current bearish downtrend pattern after a month-long pull-back saw price levels drop around 50%. The question remains as to whether LTC and other altcoins will begin to rally higher or continue to create lower lows over the coming weeks.
Over the last 6 Days Bitcoin has seen a 25% pull-back to visible range support around $9,800 from the recent high of $13,200. During this pull-back, another falling wedge has formed visible on all timeframes and could propel price levels back up towards visible range highs over the coming weeks.
A popular YouTube technical analyst and one of the few Bitcoin proponents still not entirely convinced that the low is in is getting more bullish by the day. After the recent pop in Bitcoin price back that took it back above $12,000, he is inching ever closer to believing that new all-time highs are incoming.
IOTA bouncing from Q1 2019 peaks Azimuth, Coordicide, and release of Trinity bullish for IOTA From Azimuth to Coordicide and the recent rollout of Trinity, IOTA is readying for a machine economy. As a leading IoT platform, fundamentals are bullish.
Bitcoin’s price fluctuations have been taken as a sign for cryptocurrency’s resurgence from its seemingly ongoing crypto winter, which was further validated with Bitcoin’s recent $13,000 breach and the following surge in its market cap.
The cryptocurrency market has been on the rise in recent months. But while many of the hundreds of coins and tokens have benefitted from Bitcoin’s latest pump, many still lag behind. In fact, Andy Hao of Longhash.
Bitcoin and the rest of the cryptocurrency market have recorded a resurgence over the past few months, with the world’s largest cryptocurrency taking the lead on the market’s price hike.
The past week saw bitcoin price pull-back 30%, and then quickly recover. But historical analysis suggests we may have seen the end of the sub-$10k bitcoin for good. Pullbacks During Bitcoin Bull Runs While the recent pullback from 2019 highs may have been concerning for some, a look back through bitcoin price history shows that they are actually pretty commonplace.
Bitcoin’s resurgent behavior over the week has riled up the community again, with many sharing hopes that this time around the world’s largest cryptocurrency will break its all-time highs. During these fluctuations, many patterns have also been noticed that contributed to the overall behavior of the cryptocurrency market.
The recent Bitcoin price correction was over before it really began. A five-day slide culminating in a short-lived 30% dip below $10000 saw a huge bounce back by over 20% as BTC surged back above $11000.
Bitcoin has been recording massive dips ever since Bitcoin hit its year-to-date highs on June 26. It has been a downward spiral for Bitcoin since, slumping by a massive 30% in only 6 days. Joe McCann, trader and Founder of Node Source, tweeted his thoughts on Bitcoin’s recent slump below the $10,000-level.
Bitcoin has been experiencing some incredibly positive price action over the past few months, but what started out at consistent, steady gains quickly changed into massive volatility after BTC began moving parabolically, which ultimately resulted in the crypto losing its momentum and plummeting from its recent highs.
The week has been hugely bullish for Bitcoin. The prices bulldozed their way to new year highs and the parabolic market surge was one of the highest rises in recent months. At some point, when Bitcoin prices were reaching highs of $13,800, Bitcoin was up by 43% in just seven days.
Many traders were caught off guard by bitcoin’s recent ascent past $13,000. Suddenly, however, BTC sharply fell by about 20% after reaching a high of almost $14,000. Many in the Crypto Twitter community were expecting a long consolidation period after BTC dropped by almost 85 percent from all-time highs of $20,000.
Bitcoin has been incurring significant volatility over the past few days, which is, in many ways, emblematic of the improving market conditions, as BTC surged from year-to-date lows of below $4,000 to recent highs of nearly $14,000.
DePIN io. net has introduced Co-Staking, a new feature that allows network users to share block rewards by staking their $IO tokens. The Co-Staking Marketplace connects token holders with suppliers, enabling broader participation in validation without the need to operate hardware.
On-chain analytics firm, Nansen recently announced a partnership with Viction, a people-focused Layer-1 blockchain, to enhance analytics capabilities within the Viction ecosystem. The collaboration seeks to provide investors and developers with tools to maximize the benefits of building on the Viction platform.
The best meme coins are cryptocurrencies that began as jokes but now gained massive popularity, community, and some real-world value. Today, many new coins hitting the crypto world, and finding
The post 10 Best Meme Coins To Buy Now That Will Explode In 2025 appeared first on CryptoNinjas.
Lawmakers in Maryland, Iowa, and Kentucky have introduced legislation proposing the creation of Bitcoin (BTC) strategic reserves in their respective states. The latest bills bring the number of US states considering Bitcoin reserves to 17.
Blockchain technology is revolutionizing industries such as financial markets, global trade, insurance, and gaming, with the potential to bring hundreds of trillions of dollars worth of assets onchain.
The VIRTUAL price rose to highs of $2. 45 after Upbit, Korea’s largest exchange, announced trading support. Upbit planned to add VIRTUAL pairs against Korean Won, BTC and USDT. Virtuals Protocol is also among tokens in Injective’s AI index AIX.
Securitize and Apollo have teamed up to launch a diversified credit fund. The Apollo Diversified Credit Securitize Fund, ACRED, goes live on Aptos, Avalanche, Ethereum, and Solana blockchains. Tokenization platform Securitize has partnered with $730 billion alternative asset manager Apollo to bring a new tokenized credit fund on-chain.
