2019 a Year of Accumulation For Bitcoin, Recovery by Year’s End

Bitcoin could see a recovery by the end of 2019. | Source: Shutterstock In the past 24 hours, the crypto market has recovered from $120 to $123 billion as the Bitcoin price avoided a further drop below the $3,600 mark. The bitcoin price avoided a further drop below $3,600. Ethereum has also been able to rebound relatively quickly from the delay of the Constantinople hard fork, which initially caused a 10 percent drop from $130 to $116. Slow Grind Up For Bitcoin Expected in 2019 Due to the intensity of…

Following $5 Billion Drop in Crypto, Traders See Weakness in Bitcoin

On January 13, the crypto market initiated an intense sell-off as the Bitcoin price fell below the $3,500 mark. The weakness in the short-term price trend of BTC led the market to demonstrate volatility on the downside. More than $5 billion was wiped out of the crypto market and major assets like Ethereum recorded a six percent drop. Where is Bitcoin Headed? Generally, both analysts and traders expect Bitcoin to fall to the low $3,000 region in the days to come. Some have suggested that a strong buy wall below…

Tim Draper Made $89M+ From His Bitcoin Investment in 5 Years

Billionaire venture capital investor Tim Draper has made $89.1 million from his Bitcoin investment in less than five years. In 2014, Tim Draper purchased a bulk of 30,000 BTC from the U.S. authorities in an auction. He outbid all participating investors by paying $632 per Bitcoin, with a slight premium. The $18.96 million he spent in 2014 is now worth $108 million despite the 80 percent correction the dominant cryptocurrency experienced in the past 12 months. Money Makes Money: Bitcoin is a Prime Example Vinny Lingham Previously, as CCN reported,…

Bitcoin Price Will Tank Below $3,000, Says Trader Who Predicts Sell-Off

The bitcoin price will crater below $3,000 amid a mass sell-off. That’s what futures trader Anthony Grisanti predicts about the ongoing Crypto Winter. “I’m looking for a move down to $3,000, which would represent a real weakness in this market,” Grisanti told CNBC. “It could be the driver that gets people to bail out of this and push it even lower.” Trader: ‘People are Liquidating Their Positions’ Grisanti is a CNBC analyst who previously traded energy futures at Bear Stearns. Like other crypto bears, Grisanti believes it’s only a matter of time before…

Bitcoin Price Dangerously Close to ‘GTFO’ Level: Analyst Mark Dow

For most of 2019, bitcoin and the wider cryptocurrency market rode a bullish wave, as a reduction in short-selling allowed prices to creep higher. However, on Thursday the bitcoin price crashed below the $4,000 mark, and now one prominent trader warns that it is dangerously close to approaching a level where even bulls need to “GTFO.” Mark Dow Sounds the Alarm on Bitcoin That trader is Mark Dow, a former IMF economist who famously shorted the bitcoin price from near its all-time high in 2017 to below $3,750. The bitcoin…

Crypto Market Won’t Recover Anytime Soon

Vinny Lingham, a general partner at Multicoin Capital and the CEO of Civic, believes the crypto market won’t recover any time soon. He said: The crypto market will rise again, but most likely only when the pain of the recent fall becomes a distant memory. Don’t underestimate the power of psychology in free markets. Why Crypto Could Take a Long Time to Recover Top cryptocurrency assets including bitcoin (blue), ethereum (red), and ripple (orange) have taken steep losses over the past several days. In 2017, the crypto market saw one…

Bullish Correction Possible if Price Holds Above $3,550

Bitcoin Price — Quick Take: The bitcoin price dropped more than 8 percent on a 24-hour adjusted timeframe. The cryptocurrency is attempting a pullback from a historically strong support area above $3,550. Further breakdown action could lead to a double bottom scenario. The bitcoin price on Thursday plunged more than 8 percent across the Asian and European trading session, according to aggregated market data at CoinMarketCap.com. The BTC/USD pair is trading at $3,635 on Coinbase at press time, up 2.7 percent from its session low at $3,556. It formed an…

Why the Crypto Market Remains ‘Moderately Bearish’ in 2019

With the exception of Ethereum, which seems to have started the year with all guns blazing ahead of the Constantinople fork, it won’t surprise anyone that the market analysts SFOX rate crypto as “moderately bearish” entering 2019. In fact, with further sharp drops in all major coins today, perhaps even the word “moderately” is wishful thinking. Source: SFOX Volatility Report However, unlike many price predictions based on the instincts of even the most credible CEO or economist, the SFOX Volatility Report is based on more than just sentiment. The cryptocurrency…

Could Japan’s Approval of the Bitcoin ETF Affect US SEC’s Decision?

On January 7, CCN reported that the Financial Services Agency (FSA) of Japan is considering the approval of the country’s first Bitcoin exchange-traded fund (ETF). With the final deadline of the VanEck Bitcoin ETF on the horizon, could the approval of a Bitcoin ETF in Japan have an impact on the decision of the U.S. Securities and Exchange Commission (SEC)? Probability of a Bitcoin ETF in US The probability of the approval of a Bitcoin ETF in the U.S. by February remains low. A pro-crypto SEC commissioner Hester Peirce previously…

Bitcoin Price Between Holding Gains and Losing Gains as Breakout Waits

The bitcoin price held onto its gains this Monday as the trading session across the Asian and European markets expressed its calm. The bitcoin-to-dollar pair is trading at $4,009, down 1.93 percent from Monday’s high. The correction appears natural to an overperforming asset, and its significance should be weighed in when it extends as far as 10 percent from the recent peak. As bitcoin heads into an interim sideways trend, the asset has attempted to pierce below $4,000 on five separate occasions today. It seems that there is a decent…