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Wall Street Veteran Explains Why He’s “Irresponsibly” Long on Bitcoin

Source Node: https://bitcoinist.com/wall-street-veteran-explains-why-hes-irresponsibly-long-bitcoin/?utm_source=rss&utm_medium=rss&utm_campaign=wall-street-veteran-explains-why-hes-irresponsibly-long-bitcoin
Time Stamp: August 7, 2020 8:00 AM - Modified On: May 21, 2021 - Published By:
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Bitcoin has gained steam over recent weeks, hitting $12,200 last weekend as buyers rushed in. Analysts say that the cryptocurrency market has room to move higher due to technicals. But from a fundamental standpoint, some argue that BTC is more bullish than ever before. Raoul Pal, the CEO of Real Vision and a Wall Street veteran, recently touched on this. He told his Twitter following on August 6th that he’s “irresponsibly long” on Bitcoin due to the fundamentals. This Ex-Goldman Sachs Exec Is “Irresponsibly” Long on Bitcoin For This Reason

Analyst Explains Reasons Bitcoin Price Could Fall Back to Lower $10Ks

Source Node: https://bitcoinist.com/analyst-explains-reasons-bitcoin-price-could-fall-back-to-lower-10ks/?utm_source=rss&utm_medium=rss&utm_campaign=analyst-explains-reasons-bitcoin-price-could-fall-back-to-lower-10ks
Time Stamp: August 7, 2020 4:42 AM - Modified On: May 21, 2021 - Published By:
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Bitcoin is facing risks of a price correction towards $10,000, according to a TradingView analyst. He spotted the cryptocurrency trading near its weekly resistance level, noting that it may amount to profit-taking action among traders. Nevertheless, he also asserted that Bitcoin is in a bull market, adding that the price would likely bounce back from its $10,000-lows. Bitcoin’s efforts to log a breakout move above $12,000 may fail as selling sentiment grows near the said level. The benchmark cryptocurrency risks breaking lower after retesting the $12,000-mark, says a TradingView.com analyst

Two Macro Calls That Could Propel Bitcoin to $14,000 This Year

Source Node: https://bitcoinist.com/two-macro-calls-that-could-propel-bitcoin-to-14000-this-year/?utm_source=rss&utm_medium=rss&utm_campaign=two-macro-calls-that-could-propel-bitcoin-to-14000-this-year
Time Stamp: August 7, 2020 1:42 AM - Modified On: May 21, 2021 - Published By:
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Bitcoin may hit $14,000 in the coming quarter. The analogy appears out of two extremely bullish calls made for the US dollar and Gold. Bitcoin has shown an extreme correlation with the two macro assets this year. Bitcoin may have some fuel left to continue its 2020’s run-up towards the $14,000-mark. The level–last approached in 2019 against the backdrop of an escalating US-China trade war and falling yuan– has fallen back into the radar of Bitcoin bulls. Only this time, the weakening US dollar has replaced its Chinese counterpart as

Analyst: Bitcoin Just Posted the “Most Important Breakout” in BTC History

Source Node: https://bitcoinist.com/analyst-bitcoin-just-posted-the-most-important-breakout-in-btc-history/?utm_source=rss&utm_medium=rss&utm_campaign=analyst-bitcoin-just-posted-the-most-important-breakout-in-btc-history
Time Stamp: August 6, 2020 7:00 PM - Modified On: May 21, 2021 - Published By:
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Bitcoin has been seeing some incredibly bullish price action throughout the past several days and weeks The cryptocurrency is now consolidating at just below $12,000 as its buyers attempt to catalyze another leg higher Despite facing resistance at this level, the crypto has yet to see any type of harsh breakdown here One recent technical development is creating a new source of bullishness amongst traders The cryptocurrency just broke out of a multi-year bull pennant, with this being the “most important breakout” in BTC history – according to one trader

Here’s Why One Analyst Expects Ethereum to Tap $275 Before Pushing Any Higher

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Time Stamp: August 6, 2020 4:00 PM - Modified On: May 21, 2021 - Published By:
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Ethereum has been struggling to break above $400 for the past several days The selling pressure here is quite significant, and a sustained break above this level would be a highly bullish technical development Because ETH has been consolidating just below it throughout the past few days, bulls may be gearing up for a major push higher Despite being technically strong, one analyst is still expecting the cryptocurrency to see another “scam wick” that leads it into the upper-$200 region He believes this will be necessary for trapping more shorts

Bitcoin is Pushing Against a Crucial Level as Chances of an Explosive Rally Grow

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Time Stamp: August 6, 2020 2:00 PM - Modified On: May 21, 2021 - Published By:
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Bitcoin and the entire crypto market saw a strong afternoon yesterday. This allowed BTC to push up towards $11,800 The cryptocurrency is now caught within what will likely be a short-term consolidation phase at just under $12,000 Whether or not it can surmount this crucial resistance today will help offer insights into its short-term outlook One analyst explained in a recent tweet that yesterday’s daily close does seem to indicate that a break above this level is imminent The recent uptrend has also allowed Bitcoin to break out of a

Bullish For Bitcoin: BTC Supply Slowly Shifts From Whales Toward Smaller Entities

Source Node: https://bitcoinist.com/bullish-for-bitcoin-btc-supply-slowly-shifts-from-whales-toward-smaller-entities/?utm_source=rss&utm_medium=rss&utm_campaign=bullish-for-bitcoin-btc-supply-slowly-shifts-from-whales-toward-smaller-entities
Time Stamp: August 6, 2020 11:00 AM - Modified On: May 21, 2021 - Published By:
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New data shows that the amount of Bitcoin held by smaller entities has grown significantly. Meanwhile, during the same time, whale-sized BTC wallets declined by a similar margin. Clearly, there’s been a sizable shift in supply, but what exactly does this crypto wealth transfer signify? And is this bullish or bearish for the first-ever cryptocurrency? Supply Restrictions Give Cryptocurrencies Added Value That Isn’t Fully Understood Out of all of Bitcoin’s unique attributes that give it inherent value, nothing compares to the asset’s hard-capped, 21 million BTC supply. Various supply-based valuation

Bitcoin Eyes $14K as US Dollar Breaks Below Classic Support

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Time Stamp: August 6, 2020 1:26 AM - Modified On: May 21, 2021 - Published By:
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Bitcoin pressed higher on Wednesday after finding reliable support at $10,500. The upside move appeared as the US dollar index broke below its classic trendline support that originated back in 2011. With greenback setting new downside targets based on technical parameters, Bitcoin could extend its gains further as it eyes a $14,000-retest. Bitcoin climbed higher during the Wednesday trading session as demand for alternative safe-havens remained stronger against an underperforming US dollar. The benchmark cryptocurrency rose 5 percent to close at $11,756.75 (data from Coinbase). Its gains followed a record

These Factors Suggest Bitcoin Could Hit $13,900 if Bulls Defend One Key Level

Source Node: https://bitcoinist.com/these-factors-suggest-bitcoin-could-hit-13000-if-bulls-defend-one-key-level/?utm_source=rss&utm_medium=rss&utm_campaign=these-factors-suggest-bitcoin-could-hit-13000-if-bulls-defend-one-key-level
Time Stamp: August 5, 2020 7:00 PM - Modified On: May 21, 2021 - Published By:
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Bitcoin’s consolidation phase within the lower-$11,000 region has resulted in a powerful push up towards $12,000 Although the crypto has yet to re-test this level, it does seem as though a movement to this level could be imminent in the near-term Multiple analysts are now offering bullish outlooks on BTC in the near-term One such trader is noting that a move up towards $13,000 could be brewing in the days and weeks ahead There are a plethora of different technical factors that could help this rally come to fruition Bitcoin

Despite Recent Strength, Ethereum has Yet to Break Above One Critical Level

Source Node: https://bitcoinist.com/despite-recent-strength-ethereum-has-yet-to-break-above-one-critical-level/?utm_source=rss&utm_medium=rss&utm_campaign=despite-recent-strength-ethereum-has-yet-to-break-above-one-critical-level
Time Stamp: August 5, 2020 4:00 PM - Modified On: May 21, 2021 - Published By:
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Ethereum, like Bitcoin, is currently flashing some immense signs of strength as it pushes past $400 The resistance at this price level remains heavy, so buyers must continue propelling the crypto higher in the near-term Where ETH trends next as it hovers around this crucial level may depend on Bitcoin, as it guided the market’s latest movement If Ethereum’s buyers remain strong in the near-term, they may next look to target the crypto’s recent highs at $415 There is a crucial level that it has yet to surmount, however, and

Why One Trader Thinks Bitcoin Will See a $1,000+ Plunge Despite Ongoing Upswing

Source Node: https://bitcoinist.com/why-one-trader-thinks-bitcoin-will-see-a-1000-plunge-despite-ongoing-upswing/?utm_source=rss&utm_medium=rss&utm_campaign=why-one-trader-thinks-bitcoin-will-see-a-1000-plunge-despite-ongoing-upswing
Time Stamp: August 5, 2020 2:00 PM - Modified On: May 21, 2021 - Published By:
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Bitcoin is currently showing intense signs of technical strength as it races towards $12,000 once again despite the recent rejection at this level The cryptocurrency is now well-positioned to see further upside but remains within a short-term consolidation phase until it shatters this level This uptrend may be bolstered by its break above a previously formed trading range within the lower-$11,000 region One analyst still believes that Bitcoin is at risk of seeing a large near-term selloff that sends it back into the $10,000 region Bitcoin and the entire crypto