Archive for December 2020
Analyst Claims Bitcoin is Poised for a Plunge to $20,000 as Rally Slows
Bitcoin saw a massive rally yesterday evening that allowed it to set fresh all-time highs above $29,000 The cryptocurrency did meet some serious selling pressure here that slowed its ascent and caused it to decline back down towards $28,000 It does appear to be finding some support here, but it remains unclear as to how…
Read MoreWhy ‘Black Friday’ Was The Best Thing To Happen Bitcoin In 2020
March 12, 2020, will go down in history books as Black Thursday. That day began a two-day, more than 50% collapse in Bitcoin. It also shook the stock market, precious metals, and crypto. But yet, that fateful day in hindsight was the best thing to happen to Bitcoin all year and was a crucial…
Read MoreBitcoin Price Will Top Out At $73,200 in 2021, Claims Analyst
Bitcoin has enough fuel to continue its bull run until its price hits $73,000 next year, as per chartist Alan Masters. The independent investment consultant shared his bullish outlook for the flagship cryptocurrency after studying its longer-timeframe charts. He noted that BTC/USD monthly charts printed TD Sequential signals since November 2016, resulting in bullish rallies…
Read MoreBitcoin Fractal Sees Price Crashing to $20K as Price Hits Record High
Bitcoin bulls may be in for a shock as an old fractal predicts a price crash to $20,000. First spotted by Jacob Canfield, an independent market analyst, the fractal highlights Bitcoin’s tendency to fall towards its 21-week exponential moving average or yearly support after reaching its all-time high. For instance, in the 2013-2014 session, the…
Read MoreBitcoin Likely to “Grind Up” to $30,000 as Bulls Take Control
Bitcoin has seen some massive volatility as of late, with the benchmark cryptocurrency remaining stuck below its recently set highs but not seeing any sustained downtrend Its strength seen in the time since it faced a grim rejection at $28,500 has been impressive, invalidating the notion that this is a local top Where the market…
Read MoreM1 Money Supply Arms Race: Bitcoin Overtakes 23 Countries In 2020 Alone
2020 will go down in history for various reasons. While the pandemic took center stage, the emergence of Bitcoin, stimulus money, and unprecedented fiat money printing have been critical themes economically. The ballooning effect of national currencies printing fiat money to offset the impact of the pandemic, caused the global M1 money supply to expand…
Read MoreBitcoin Sets Eyes on $30,000 After Logging Another Record High
Bitcoin careened to another record high on Wednesday amid concerns about this year’s huge stimulus packages. The flagship cryptocurrency continued to attract capital from investors that view it as a hedge against fiat devaluation and inflation. On Tuesday, SkyBridge Capital investment revealed that it had invested about $182 million in Bitcoin ahead of its proprietary…
Read MoreThere is 59% Chance for Bitcoin to Continue Its Bull Trend; Here’s Why
Bitcoin held on to $27,000 for most of Tuesday after setting its record high of $28,387 earlier in the week. The benchmark cryptocurrency opened higher at $27,039 and hit an intraday low of $25,833 in early trade volatility. However, traders treated the downside correction as their cue to accumulate at cheaper rates. A retracement ensued,…
Read MoreEthereum is About to Test a Key BTC Resistance Level; What Analysts are Saying
Ethereum has finally broken its trend of underperformance against Bitcoin, with the crypto’s recent break above $700 allowing it to gain some ground on the ETHBTC pair This strength does appear to be growing, as the crypto has yet to face any harsh rejection around its recent highs, despite Bitcoin’s potential blow-off top at $28,500…
Read MoreHere’s What History Says To Expect From Bitcoin In 2021
Bitcoin has had an explosive breakout year as a maturing financial asset,. The cryptocurrency is finally being considered by institutional investors for the first time, during a year that will go down in history for unprecedented money printing. The asset’s hardcoded digital scarcity is a primary driver of its boom and bust cycles, and in…
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