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Bitcoin short-term Price Analysis: 20 October

The Bitcoin chart is red-hot at the moment as the token continues on its pursuit to re-test $12,000 over the next 24-hours. While the market is still bullish for Bitcoin, other altcoins were indicative of a bearish pull, hence the same sentiment might creep into Bitcoin’s chart. At the moment Bitcoin is currently trading near […] The post Bitcoin short-term Price Analysis: 20 October appeared first on AMBCrypto.

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Bitcoin short-term Price Analysis: 18 October

Disclaimer: The findings of the following article are the sole opinion of the writer and should not be considered as investment advice Bitcoin‘s price movement over the previous week seemed to have formed a curve, one perhaps hinting at a potentially bullish pattern that could push BTC to $11,700. At press time, Bitcoin was trading at […] The post Bitcoin short-term Price Analysis: 18 October appeared first on AMBCrypto.

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Bitcoin short-term Price Analysis: 15 October

Disclaimer: The findings of the following article are the sole opinion of the writer and should not be taken as investment advice After testing the resistance level at $11,731 on 13 October, the prevailing market trend took the world’s largest cryptocurrency well below $11,500. While the movement in question should have been minor, later corrections took […] The post Bitcoin short-term Price Analysis: 15 October appeared first on AMBCrypto.

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‘Enormous Wall of Money’ Coming Into Bitcoin, Price to Reach $1 Million in 5 Years, Says Raoul Pal

Macro strategist Raoul Pal says the price of bitcoin will reach $1 million in five years. He attributes the price increase to adoption by large pools of investors and the “enormous wall of money” coming into bitcoin, rather than because “the world is collapsing.” $1 Million Bitcoin in 5 Years Former hedge fund manager Raoul Pal shared his view on the economy, gold, and bitcoin last week in a podcast interview with Daniela Cambone of Stansberry Research. Pal previously co-managed the GLG Global Macro Fund in London after departing Goldman Sachs where he co-managed the hedge fund sales business in…

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Bitcoin short-term Price Analysis: 04 October

Disclaimer: The findings of the following article are the sole opinion of the writer and should not be considered investment advice  After CFTC brought charges against BitMEX for allegedly violating the Bank Secrecy Act, Bitcoin tumbled down the charts and fell by 4%. However, BitMEX took a much harder hit as its OI has since […] The post Bitcoin short-term Price Analysis: 04 October appeared first on AMBCrypto.

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Bitcoin short-term Price Analysis: 27 September

Bitcoin climbing to $10,700 may have been a fleeting moment since, at the time of writing, the price seemed to be dropping yet again below the aforementioned level. On a longer-term timeframe, it was bullish, but on a short-term timeframe, the price had just broken out of a bearish pattern at the time. Bitcoin 1-hour […] The post Bitcoin short-term Price Analysis: 27 September appeared first on AMBCrypto.

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Do on-chain metrics show an overly bearish picture of the 2020 Bitcoin market?

Bitcoin’s on-chain metrics suggest that the market is overly bearish. This has been the case for most of 2020.  Source: Coinmarketcap Up till now, on-chain metrics are considered a reliable source of data for predicting Bitcoin’s market sentiment and price. It is assumed that the Bitcoin Network needs sufficient on-chain volume in order to fuel a bull market.  Source: Coinmarketcap The current on-chain volume is higher than the 2018 and early 2019. The price is above 10k and has sustained at that level for over 4 months in a row. Trading volume does not pose a grim picture, unlike 2018. …

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Bitcoin short-term Price Analysis: 24 September

After being rejected under the $11,000-mark, the last 48-72 hours have seen Bitcoin survive a period of bearish turmoil. With the cryptocurrency’s price consolidating near $10,300 at press time, some degree of recovery was observed on the charts. However, the resistance at $10,412 continued to hold out. A look at Bitcoin’s charts revealed that a period of high volatility may be incoming for the world’s largest cryptocurrency. Bitcoin 1-hour chart Source: BTC/USD on Trading View The 1-hour chart for Bitcoin, particularly, pictured a rising wedge pattern, at the time of writing. However, the chances were that the pattern will not…

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Bitcoin long-term Price Analysis: 20 September

Disclaimer: The findings of the following article should not be taken as investment advice as it is the sole opinion of the writer Bitcoin’s rise from $10,000 to $11,000 was slow, but steady. However, of late, the market’s bulls seem to have run out of steam. The outlook for Bitcoin on the medium to long-term timeframe seemed bleak, at the time of writing, and the following article explains why. Bitcoin 4-hour chart Source: BTCUSD on TradingView Although the price of Bitcoin is barely, yet desperately clinging to $11,000, it will soon loosen its grip. What follows next will be a…

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Bitcoin long-term Price Analysis: 13 September

Bitcoin’s surges, over lower time frames, are really good for scalps with tight stop-losses. However, doing so can also be equally risky. At the time of writing, Bitcoin was hovering around $10,550, with the world’s largest cryptocurrency eyeing the $10,600-mark and the levels above it. Bitcoin short-term price chart Source: BTCUSD on TradingView Over a very short-term time frame, Bitcoin was observed to be forming bull flag patterns. In fact, another bull flag pattern was under formation, as of writing. The breakout from this is expected to push the price above $10,600 easily. However, an observation that can be made…

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Can Bitcoin’s history with hodling help the bulls?

Hodling as a strategy to drive up prices is still as relevant as 2016 and early 2017. A third of UK companies had stockpiled Bitcoin in 2016, well ahead of the anticipated bull run. Their reason was protection against hacking and ransomware attacks, however, the risk is higher with Bitcoin’s involvement. This Hodling incident was one of the firsts, close to the bull run. Source: Citrix  Starting in 2017, Hodlers booked profits and the number of Bitcoin held in idle wallets dropped as the price increased. Source: lookintobitcoin A similar pattern has emerged, and it started in the second half…

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Here’s why buying this dip may not be the best bet

Bitcoin’s latest price drop below its crucial support level of $11500 has once again re-ignited the question of ‘buying the dips’. However, not all dips are alike, and buying the dip may not always be your best bet. @CryptoWhale was among those who recently commented on the narrative of “buying the dip.” Source: Twitter Some dips are expensive when you take into account the fair value of Bitcoin. In fact, buying these dips is equivalent to buying Bitcoin at a premium. This is where Bitcoin’s fundamentals come into play. The fair value of Bitcoin as a digital asset can be…

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Bitcoin long-term Price Analysis: 07 September

The descent in Bitcoin’s price has been drastic but at the time of writing, it was holding steady above the $10,000 level, something that, as we all know, is ephemeral. Bitcoin’s price wants to dip to the low-$9,000s and the same will happen eventually, however, until then, keeping your hands off trading would be good self-control. The long-term scenario for Bitcoin, at press time, seemed bleak for obvious reasons. Bitcoin 1-day chart Source: BTCUSD TradingView Although Bitcoin’s 1-day chart showed the price’s breakout off the rising wedge, the interesting part was the rapid descent of the price after the breakout.…

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Bitcoin short-term Price Analysis: 3 September

Disclaimer: The findings of the following article should not be taken as investment advice, with the same deduced based on the immediate price activity of Bitcoin amidst strong bearish pressure in the market Between 25 August and 2 September, Bitcoin managed to re-test its support level at $11,150 thrice, with the resistance level at $12,000 met only once. If you scale back the timeline, it can be observed that $12,000 has been more like a ‘pullback curse’ since whenever BTC has tested the $12k waters, it has been dragged down to the abyss below $11,200. With concerns regarding the exhaustion…

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Bitcoin’s correlation with Gold and S&P 500, is it your best bet?

Bitcoin wasn’t created as a normal equity investment. However, analysts have correlated it with Gold and S&P 500 every cycle. This is drawing speculative traders in, and Bitcoin is being purchased for its investment value. However is the store of value narrative is dying a slow death, with this week’s Bitcoin Gold correlation at 10% – the lowest since June 2020.  Source: Skew Many investors look out for correlation and other signs due to Bitcoin’s lack of guaranteed RoI. However, comparing Bitcoin with traditional assets gives insights into its effect on a portfolio that is a mix of traditional and…

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Do Bitcoin futures exchanges live up to the hype?

BTC futures were first launched in December 2017, and their initial performance was contrary to the hype that surrounded it. Market expectations ranged from a sudden climb in BTC spot price to increase liquidity on spot exchanges. However, the two most popular Bitcoin futures exchanges – CME and CBOE faced two different fates.  Before CME’s BTC futures launch, the spot market price of Bitcoin was expected to reflect optimism. Just as it did, in the case of CBOE.  Immediately after the launch event the price climbed up from $13400 and hit $15400. CBOE’s website went down as futures trading launched,…

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Bitcoin long-term Price Analysis: 31 August

Off-late, Bitcoin has been moving sideways on the charts and hasn’t exactly been the center of attraction either. Today, DeFi, yield farming, and liquidity pools are the hype. While DeFi has temporarily stolen the spotlight, altcoins seem to be enjoying Bitcoin’s respite. One thing to note here is that despite Bitcoin’s almost-dormant price action, the OI for BTC Futures and Options did peak momentarily. It’s almost as if Bitcoin is waiting for a perfect moment to splash that pent up volatility, one that can contribute to a sudden spike/crash in the crypto-asset’s price. For now, Bitcoin’s price is still under…

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Bitcoin Will Break Out This Year, Says Devere CEO

The CEO of financial advisory firm Devere Group believes that 2020 will be a breakout year for bitcoin, fueled by the U.S. presidential election and the weak dollar. Amid political uncertainty and the Fed’s new inflation policy, investors will pile into safe-haven assets not tied to any specific country, such as bitcoin. 2020: Breakout Year for Bitcoin Devere Group CEO Nigel Green predicted last week that the U.S. presidential election and a weak dollar will drive the price of bitcoin for the rest of 2020. Following the Federal Reserve’s policy shift on inflation, he also warned about investing in the…

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Federal Reserve’s Major Policy Shift to ‘Push Up Inflation’ Could Send Bitcoin Price to $500K

The U.S. Federal Reserve has announced a significant policy change to push up inflation. Bitcoin is set to greatly benefit from this policy change. Not only the price of bitcoin could surge past $500K, but a number of companies have also begun moving their reserves into the cryptocurrency to hedge against higher inflation. Fed Officially Set to Push Up Inflation The Federal Open Market Committee announced on Thursday significant changes to its policy strategy. The announcement coincides with Fed Chairman Jerome Powell’s speech to a virtual meeting of the annual Jackson Hole economic symposium. All 17 top Fed officials agreed…

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Bitcoin short-term Price Analysis: 27 August

Disclaimer: The findings of the following article should not be taken as investment advice and the latter is the sole opinion of the writer  Bitcoin has been under immense bearish pressure lately. For the 2nd time in a week, Bitcoin tested its support line at $11,361. In fact, it was also observed that Bitcoin had tested its support lines more than its resistance at $12,000, in the month of August. With the Bitcoin market largely under the bear’s grip since topping off at $12,400, the likelihood of Bitcoin dropping below $11,000 seemed to be rising with every passing day. Bitcoin…

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