Bitcoin is Cheap Until April, We’ll Never See Price at $3,000 Again: Trader

Despite being down 80 percent from its all-time high, a fairly large number of investors are still cautious and shorting bitcoin in a low price range. Bitcoin shorts achieved a 3-week high earlier this week, demonstrating a  lack of confidence of investors in the cryptocurrency market in the near-term performance of bitcoin. 1-Month Price Chart of Bitcoin (Source: Coinmarketcap.com) But, according to a trader known to the cryptocurrency industry as “Galaxy,” bitcoin at $3,000 may be a rare opportunity that does not come again in the future. Why $3,000 For…

Emerging Markets are Surging and Investors Could Send Bitcoin Moon-Bound

Emerging markets and their respective currencies are on the rise, which historically has had some correlation with the price of Bitcoin. According to Morgan Stanley, the global emerging markets benchmark is expected to rise by around 8 percent in 2019, primarily due to the increase in interest in the Chinese stock market following the optimistic prospect of the trade deal. Bitcoin Vs. Emerging Markets: What’s the Correlation? In August 2018, global macro analyst Peter Tchir said that during periods of emerging market stress, cryptocurrencies like Bitcoin as a store of…

Bitcoin Could Plunge 50% with November-Like Dump amid Low Volatility: Analysts

Bitcoin has struggled to cleanly break out of the $4,000 resistance level and remain above it for more than three months, staying in a tight range between $3,300 to $4,000. If the dominant cryptocurrency fails to test $4,000 again and slips, traders foresee the Bitcoin price declining to the $3,300 to $3,500 range. “$4,400-$4,500 area is where I intend to hedge if we go up. If break down, keep an eye for absorption below $3,330 (HTF liquidity pool). The $2,500-$2,850 area is where I start buying spot if no absorption…

Bitcoin Price Rally Could be on Last Legs, Bloomberg Analyst Warns

A key market indicator shows that the Bitcoin price rally may be losing steam. According to Bloomberg, “Bitcoin’s Moving Average Convergence Divergence indicator has been steadily falling since mid-February.” MACD is a commonly used metric for technical analysis. When it diverges from the symbol, it means that a trend may be over with. Watch out Bitcoin Bears – MACD Isn’t Everything Bitcoin’s MACD has been steadily falling since last month, which could signal that the crypto market’s recent recovery is already coming to an end. | Source: Bloomberg Let’s keep…

Bitcoin Shorts Near Monthly High and it Could Trigger Major Price Movement

Bitcoin shorts have increased significantly in recent weeks to a monthly high, an indicator that may suggest a decline in the confidence of investors in the dominant cryptocurrency. Shorts remain an unconvincing indicator of the sentiment in the cryptocurrency market because the take of analysts on the impact of short contracts on the price of Bitcoin differs quite regularly. Join CCN for $19.99 per month and get an ad-free version of CCN including discounts on future events and services. Support our journalists today. Click here to sign up. Bitcoin 7-Day…

Bitcoin Would Survive Recession, But Ethereum Might Crater: Tech VC

Bitcoin would survive a recession, while Ethereum would suffer and Ripple’s XRP would remain unaffected. That’s the prediction of Kyle Chapman, a partner with tech venture capital firm Cosimo Ventures. Chapman wrote in Barron’s that a recession would not hurt bitcoin because it’s decentralized and is mostly independent of the stock market’s cyclical undulations. Fed Chair: Relax, No Recession In 2019 Meanwhile, Federal Reserve chairman Jerome Powell does not believe a U.S. recession will happen anytime soon. Other economists, like Allianz’s Mohamed El-Erian, agree. “The outlook for our economy is…

Spiking 50% Crypto Gains Will Eventually Fuel Bitcoin Price Surge

Throughout March, a handful of crypto assets and tokens have consistently outperformed Bitcoin, recording gains in the 50 percent to 100 percent range against the U.S. dollar. 1-Month Chart of Enjin Coin (Source: Coinmarketcap.com) Due to the reported partnership between Samsung and Enjin, for instance, Enjin Coin and other cryptocurrencies related to the project such as Kyber Network and Bancor demonstrated a significant increase in value. Bitcoin Price Will Benefit From It According to cryptocurrency trader Josh Rager, based on the historical trend of the cryptocurrency market, the price surge…

Why Bitcoin Drop to $1,850 May Be Next Despite Bullish Crypto Momentum

In the past 3 months, the Bitcoin price has been relatively stable, performing strongly against the U.S. dollar with solid volume across major markets in the likes of the U.S. and Japan. Since December 16, within a 3-month span, the Bitcoin price has increased from its yearly low at $3,122 to $3,943, testing the $4,000 resistance level. 3-Month Bitcoin Price Chart (Source: Coinmarketcap.com) The stability of Bitcoin has led many tokens and alternative cryptocurrencies to record large gains against both BTC and the USD, with assets Litecoin, Enjin Coin, and…

Cryptocurrencies Surge 30%-100%. Why Momentum Can Boost Bitcoin Price

Bitcoin has remained relatively stable in the $3,800 to $3,900 range over the past week while crypto assets like Enjin Coin (ENJ), Litecoin (LTC), ICON (ICX), and Kyber Network (KNC) surged by 30 percent to 100 percent. 7-Day Price Chart of Kyber Network (Source: Coinmarketcap.com) Off of the reported partnership between Enjin and Samsung, the price of Kyber Network spiked by 60 percent overnight. In late January, the Enjin team revealed that it integrated Kyber, Changelly, and Bancor to convert 200 tokens from thousands of trading pairs natively on the…

Bitcoin’s Impending ‘Halving’ Could Spark Meteoric Price Boom

Alistair Milne, the chief investment officer at Atlanta Digital Currency Fund, has said that the block reward halving of Bitcoin could push the price of the dominant cryptocurrency to massive gains in the next 12 months. Why Block Reward Halving is a Fundamental Driver of Bitcoin Price The Bitcoin price should receive a major boost from the halving next year. | Source: Yahoo Finance A block reward halving in Bitcoin is referred to as the mechanism that decreases the amount of Bitcoin generated by miners after mining a block. On…