Why This Analyst Is Sure That Bitcoin Is Finally Ready To Test $20,000

Why This Analyst Is Sure That Bitcoin Is Finally Ready To Test $20,000
фото показано с : zycrypto.com

2020-9-26 22:29

Decentralized Finance, aka DeFi, has been the talk of the cryptocurrency community for the most part of the month, but amidst the commotion, a bull run might be impending, says popular cryptocurrency analyst who goes by the name MoonCarl. “People are not talking about Bitcoin anymore,” he says, as a pointer to the previous weeks in which DeFi and altcoins became a buzz.

Back in the day, Bitcoin which is unarguably the most popular and talked about cryptocurrency was always making rounds for its impressive price breakouts. With every major adoption, there was a significant buzz and this is no surprise because Bitcoin is the first and most valued top cryptocurrency to date. However, the birth of new altcoins has given way for conversation diversification and with the increase in usage, newcomers like DeFi are constantly gaining popularity.

Even altcoins are taking over the market with more stability in the month of September. Subtle price upswings are springing up and the likes of Ethereum have begun to make a correction in price movement.

Newcomers like Uniswap (UNI), Yearn.Finance (YFI) have predominated the market with gains. At the time of this writing, most altcoins are dealing with mild losses but nothing substantial enough to signal that an altcoin bear trend is brewing. For the most part, DeFi tokens have prolonged altcoin season but this analyst’s take is now implying that a bull run could catch the market by surprise.

BTCUSD Chart By TradingView

Note that Bitcoin testing $20,000 isn’t the same as Bitcoin testing and staying range-bound in the $20k level. Due to the swiftness with which a bull run is ignited, a bear trend might immediately follow.

It is for this same reason that Bitcoin could easily test $20,000 any time soon. A fundamental factor could trigger this long-awaited $20,000 bull run. Bitcoin will have to first have to cross $12,000 and sustain that price level, but more adoption is necessary for this to happen. At press time, Bitcoin is trading at a price of $10,712. The overnight correction in price has positioned Bitcoin for $11,000, but within the next 24hrs Bitcoin will need to hold strong above $10,500.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Global Cryptocurrency (GCC) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.0032174 (-100%)

cryptocurrency analyst amidst commotion run part month

cryptocurrency analyst → Результатов: 126


Bitcoin’s Momentum Stalls, But Negative Funding Gives a Boost to Bulls

Bitcoin’s upwards momentum has stalled following the promising push higher seen yesterday This allowed the cryptocurrency’s price to surge up towards $10,800, which is where it met some serious resistance that slowed its uptrend Despite rejecting at this level, the subsequent downtrend has not been that intense, indicating that bulls may still have some underlying strength One analyst is noting that although BTC is beginning to look bearish, the fact that funding rates are still […]

2020-9-26 21:00


Фото:

Analyst: Bitcoin is Likely to Slowly Bleed Towards $8,550 Before Rebounding

It has once again been a turbulent overnight trading session for Bitcoin The benchmark cryptocurrency plunged as low as $10,200 yesterday afternoon before bulls stepped up and slowed its descent The rebound from these lows led it to kick off a slight uptrend that has reversed the majority of yesterday’s losses Analysts are now noting that its near-term trend may depend largely a few key factors It is important to note that the majority of […]

2020-9-25 21:00


Ethereum May Crash to $300 Support as Selling Pressure Grows Heavy

Ethereum is currently oscillating between highs of $345 and lows of $336 as its bulls and bears reach an impasse The cryptocurrency has been unable to see any relief following the massive influx of selling pressure that stopped it from seeing any further gains It is still trading well above its multi-week lows of $320, but growing weakness is putting its current stability in jeopardy One analyst explained in a recent tweet that he expects […]

2020-9-23 23:00


Фото:

Bulls are in Control of Bitcoin as Long as It Defends One Crucial Level

Bitcoin has witnessed some intense selling pressure throughout the past day, but bulls have been able to absorb the vast majority of it This selling pressure ultimately sent the cryptocurrency down to daily lows of just below $10,800, at which point buyers stepped up and guarded against it seeing any further downside One analyst is now noting that where it trends in the near-term may depend almost entirely on whether or not bulls can maintain […]

2020-9-21 19:00


Analyst: Bitcoin May First Tank to $9,700 Before Rallying to Fresh Highs

Bitcoin bulls and bears are currently deadlocked as the cryptocurrency trades around $11,000 This price region has proven to be heavy resistance for BTC in the past, and whether or not it can be surmounted in the coming day or so should provide insight into the strength of BTC’s bulls A rejection here could cause it to see some notable downside in the near-term, sending shockwaves throughout the entire cryptocurrency market One analyst is noting that […]

2020-9-20 02:00


Фото:

Ethereum is “Fighting for Its Life” as Bulls Struggle to Defend Critical Support Level

Ethereum is currently in the process of rebounding from its daily lows that were set just a handful of hours ago The cryptocurrency has been facing heightened selling pressure as of late, struggling to build momentum as it remains below $370 One analyst is now stating that the cryptocurrency is “fighting for its life” as it trades right around a crucial support level Bulls and bears have largely been at an impasse when it comes […]

2020-9-17 23:00


Фото:

Analyst: Chainlink Looks “Weak and Heavy” as It Flashes Signs of Bearishness

Chainlink has witnessed some intense selling pressure throughout the past couple of days, with the cryptocurrency being unable to mirror the gains seen by Bitcoin today. These losses have struck a blow to its technical outlook, potentially opening the gates for it to see further downside in the coming weeks and months. While speaking about […]

2020-9-16 02:00


Фото:

Here’s What Bitcoin’s Strong Weekly Close Says About Its Present Outlook

Bitcoin posted a strong weekly close yesterday afternoon, which is what allowed the cryptocurrency to see an overnight upswing that has led it past multiple crucial levels. While speaking about the digital asset’s price action, one analyst observed that its strong weekly close may continue acting as a launchpad for further upside, noting that bulls […]

2020-9-15 19:00


A Majority of Investors Think Bitcoin Ends the Year Above $10,000

Bitcoin is currently trading at $10,400 but analysts think the cryptocurrency is poised to slip lower. A majority of investors think that Bitcoin will end 2020 above $20,000. Bitcoin Will End 2020 Above $10,000, Investors Suggest in Poll According to a recent poll conducted by Bitcoin and crypto analyst Chris Burniske, a majority of cryptocurrency investors think BTC will end 2020 above $10,000.

2020-9-13 00:12


Ethereum is About to Make a Big Movement; But Will It Favor Bulls?

Ethereum has been flashing some signs of strength throughout the past few days, with bulls now pushing it back towards its recent highs of $380 The cryptocurrency is slightly outperforming Bitcoin at the moment and does appear to be in a decent technical position One analyst is noting that a confluence of factors seems to suggest that a massive movement is brewing for the cryptocurrency Whether or not this move favors bulls or bears is […]

2020-9-13 22:00


Institutions are Growing Increasingly Bullish on Bitcoin Following Drop to $10,000

Bitcoin’s price is now expressing some signs of stability within the lower $10,000 region, with bulls being able to garner some strong support This comes after the cryptocurrency defended its crucial near-term support level at $9,900 on multiple occasions throughout the past week One analyst is now noting that investor fear is at the same level it was at just before the crypto pumped to $12,000 This also comes as institutional investors grow bullish on […]

2020-9-13 19:00


Фото:

Bitcoin is About to Reach a Pivotal Point as Buyers Defend Key Level

It has been a choppy day of trading for Bitcoin and the aggregated crypto market This primarily stems from BTC’s inability to maintain the upwards momentum that was driving it higher yesterday Although losing its momentum is a bear-favoring sign, it is important to note that not too much has changed for BTC from a technical perspective One analyst is noting that the benchmark cryptocurrency is now reaching a pivotal level that will shape its […]

2020-9-12 21:00


Фото:

Why This Analyst Believes XRP Will ‘Completely Annihilate Almost Every Other Altcoin’ Once There Is Regulation

Cryptocurrency companies like Ripple have been hula-hooping through regulations for the longest time. The San Francisco-headquartered company which is the single largest owner of the XRP cryptocurrency has made serious efforts to push for a comprehensive regulatory framework for digital assets.

2020-9-11 20:33


As Bitcoin Consolidates, Here are the Crucial Levels that Will Determine Its Future

Bitcoin has seen a strong rebound from its recent lows, but the cryptocurrency still remains caught within a firm consolidation phase between $9,900 and $10,300 The benchmark crypto is currently testing the upper boundary of this range, but its momentum is somewhat tempered at the moment and appears to be faltering Whether or not it can push any higher in the near-term may depend almost entirely on how it reacts to $10,300 One analyst is […]

2020-9-10 02:00


Analyst: Ethereum Narrowly Avoids Capitulation as Macro Outlook Grows Bright

Ethereum has posted some strong price action throughout the past couple of days, with the cryptocurrency ardently defending against any sharp decline This strength has come about mostly due to the buying pressure found at $320 This price level, and the region directly above it, have helped the crypto to slow its descent and stabilize Bitcoin’s ability to hold above $10,000 has also aided its price action significantly One analyst is now noting that ETH […]

2020-9-10 23:00


Фото:

Ethereum Continues Finding Strong Support, But Fails to Break Crucial Level

Bitcoin’s inability to push past $10,400 has created a major headwind for the aggregated market This has resulted in ETH’s price plunging towards its key support levels throughout the mower-to-mid $300 region Because Ethereum has grown highly correlated to Bitcoin as of late, where it trends next may depend almost entirely on the benchmark cryptocurrency That being said, one analyst is noting that the strong support ETH has at $320 may be enough to stop […]

2020-9-9 23:00


Bitcoin Hammers Key Support Level as All Eyes Continue Watching $10k

Bitcoin has once again faced a massive influx of selling pressure that caused its price to dip back towards its key support at $10,000 The cryptocurrency is navigating beneath this level, which means that it may soon once again test its critical support at $9,900 The multiple tests of this level that it has undergone in recent times seems to indicate that significant downside could be imminent One analyst is noting that a failure to […]

2020-9-8 21:00


Bitcoin in “Golden Accumulation Zone” After 20% Plunge: Analyst

It may be the best time for Bitcoin traders to refill their crypto bags now that the asset trades near its multi-week lows, according to analysts at Phi-Deltalytics. The chart analysis portal stated that Bitcoin is in a “golden accumulation zone,” citing a string of fundamental and technical catalysts that could propel the cryptocurrency’s price higher.

2020-9-8 11:00


Фото:

Ethereum Taps Key Resistance as Analysts Watch for Rebound to Falter

Ethereum has posted a strong rebound from its recent lows, with bulls pushing the cryptocurrency up to highs of $360 earlier today This upswing proved to be short-lived, and the cryptocurrency has since been rejected at this level Nonetheless, today’s price action has signaled that ETH’s sub-$320 lows may ultimately mark a long-term bottom that is followed by further upside While speaking about this, one analyst explained that although today’s rebound has been strong, it […]

2020-9-6 22:00


Фото:

Ethereum May Dive to $295 as Bears Strike a Blow to Its Market Structure

Ethereum has seen some intense selling pressure throughout the past few days, which reached a boiling point overnight when its price declined to lows of $330 The cryptocurrency is now stabilizing following this movement, but sellers appear to be stepping up and catalyzing further selling pressure One analyst is now noting that ETH could decline as low as $295 in the near-term This downside movement may come about as a result of the selling pressure […]

2020-9-6 22:00


Фото:

Data Shows “Smart Money” is Looking to Buy Bitcoin at $8,800

It has been a rough past couple of days for Bitcoin and the rest of the crypto market, with bears forcing BTC to dive as low as $10,000 The support found just below this price region was significant, as BTC quickly bounced and ran back towards the upper-$10,000 region Bulls and bears have since reached an impasse, with the cryptocurrency consolidating as it attempts to garner some clearer directionality in the near-term One analyst is […]

2020-9-5 21:00


Bitcoin is Worthless in Long-term, Says Veteran Stock Analyst

Bitcoin may have rallied better than global stocks in 2020, but a veteran analyst still looks at the cryptocurrency as an asset without any value. James Royal, senior reporter for investing and wealth management at Bankrate – a New York-based financial advisory portal, called Bitcoin worthless in the long-term because it does not generate cash flow […]

2020-9-4 14:00


Analyst: Ethereum Now Entering a Macro Correction as Selling Pressure Mounts

Ethereum has been hit hard by the latest selloff, with the cryptocurrency’s price plunging to its critical $400 support before posting a slight rebound This price action has done little to offer insight into ETH’s mid-term trend, but it did strike a blow to the bull case that has been mounting over the past few weeks Analysts are now conflicted as to where it may trend in the near-term, which may depend largely on its […]

2020-9-4 23:00


Фото:

Here’s How Low One Analyst Expects Bitcoin to Plunge in the Mid-Term

It has been a rocky past few days for Bitcoin, as the benchmark cryptocurrency dropped as low as $11,100 following yesterday’s surge to highs of $12,200 This weakness came about in the form of a slow descent down to $11,700, which is the point at which it incurred a massive inflow of selling pressure Bulls were able to defend its $11,100 support, and where it trends next may depend largely on whether or not it […]

2020-9-3 02:00


Фото:

Bitcoin Shows Signs of Strength, But These Factors May Bolster Bears

Bitcoin is currently attempting to break above $12,000, with the cryptocurrency rallying towards this level as Ethereum sets fresh 2020 highs at $475 BTC’s current strength has yet to lift it past the key resistance it faces in the near-term at this level A failure to surmount it would be grim for its near-term outlook, and potentially spell serious trouble for where it goes next One analyst believes that there are a few factors that […]

2020-9-2 02:00


Фото:

Analyst: Ethereum May Target $650 After Invalidating Signs of Bearishness

Ethereum and the entire crypto market have shown some signs of strength today This has allowed ETH to push up towards $500, with the cryptocurrency rallying to highs of $475 before seeing some stalling momentum Analysts don’t believe that this ongoing upsurge is anywhere close to being completed One trader noted that his bearish scenario for ETH has now been invalidated, suggesting that further upside could be imminent Another trader is now setting his sights […]

2020-9-2 23:00