Macro

Bitcoin Bulls Defend Critical Support; Here’s Where it May Go Next

Source Node: https://bitcoinist.com/bitcoin-bulls-defend-critical-support-heres-where-it-may-go-next/?utm_source=rss&utm_medium=rss&utm_campaign=bitcoin-bulls-defend-critical-support-heres-where-it-may-go-next
Time Stamp: August 12, 2020 2:00 PM - Modified On: May 21, 2021 - Published By:
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Bitcoin saw a notable drawdown yesterday that came about after bulls once again failed to break the $12,000 resistance level This led BTC to lows of $11,200 that were ardently guarded by its buyers, and it has since bounced slightly The ongoing bounce likely marks bulls attempt to regain control over the digital asset Analysts are noting that it may be well-positioned to see further upside now that it has confirmed the lower-$11,000 region as heavy support Bitcoin and the aggregated cryptocurrency market has seen some turbulence over the past

Gold Tokens Reach Milestone Market Cap; Does This Pose a Threat to Bitcoin?

Source Node: https://bitcoinist.com/gold-tokens-reach-milestone-market-cap-does-this-pose-a-threat-to-bitcoin/?utm_source=rss&utm_medium=rss&utm_campaign=gold-tokens-reach-milestone-market-cap-does-this-pose-a-threat-to-bitcoin
Time Stamp: August 12, 2020 11:00 AM - Modified On: May 21, 2021 - Published By:
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Bitcoin and gold have been rising in tandem, as the dollar has been falling. It has also driven the growth of the market cap of digital gold tokens, backed by the precious metal commodity, to record highs. What exactly has caused this rapid growth in market cap, and does this pose any threat against Bitcoin? Market Cap of Commodity-Backed Gold Tokens Soars 1000% In 2020 Bitcoin and gold share several key similarities, such as supply scarcity. Bitcoin’s benefits soon begin to outweigh the precious metal, especially in terms of storage

Invest 3% in Bitcoin to Avoid COVID-19 Lockdown Devaluation — BitGo CEO

Source Node: https://cointelegraph.com/news/invest-3-in-bitcoin-to-avoid-covid-19-lockdown-devaluation-bitgo-ceo
Time Stamp: August 12, 2020 10:36 AM - Modified On: May 21, 2021 - Published By:
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Coronavirus lockdowns will force people out of fiat currency and into gold and Bitcoin (BTC), the CEO of cryptocurrency asset manager BitGo has warned.In a series of tweets on Aug. 12, Mike Belshe strongly urged investors to divert a minimum of 3% of their portfolio into Bitcoin.Belshe: investors will move from cash to gold, BitcoinAs multiple jurisdictions around the world reenter compulsory lockdown conditions, Belshe said that in the United States, the government had made a prison for itself using the policy.“The government is being forced to maintain lockdowns for

A Top Gold Bull Thinks an Exponential Bitcoin Price Expansion Is Imminent

Source Node: https://bitcoinist.com/top-gold-bull-exponential-bitcoin-price-expansion-imminent/?utm_source=rss&utm_medium=rss&utm_campaign=top-gold-bull-exponential-bitcoin-price-expansion-imminent
Time Stamp: August 12, 2020 6:00 AM - Modified On: May 21, 2021 - Published By:
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Bitcoin has stalled after failing to hold above $12,000 for the second time in two weeks. The cryptocurrency trades at $11,450 as of this article’s writing, below the ever-important $11,500 level. Despite this weakness in the price of BTC, analysts remain long-term bullish on this nascent market. Joining his contemporary Raoul Pal, macro investor and gold bull Dan Tapiero says Bitcoin could soon go exponential. In a tweet published on August 10th, the BTC bull mentioned that the asset could literally 5-10x in the years ahead. This is a sentiment

A Crypto Trader Thinks Ethereum Could Plunge Towards $300 as Momentum Slows

Source Node: https://bitcoinist.com/ethereum-could-plunge-towards-300/?utm_source=rss&utm_medium=rss&utm_campaign=ethereum-could-plunge-towards-300
Time Stamp: August 11, 2020 9:00 PM - Modified On: May 21, 2021 - Published By:
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After Bitcoin and Ethereum attempted to surge past $12,000 and $400, respectively, the momentum has tapered off. Over the past day, the leading cryptocurrencies have plunged lower despite a weakening U.S. dollar. As of the time of this article’s writing, ETH is down 2.85% in the past 24 hours and now trades for $385. Analysts say that Ethereum is primed to move towards $300 as last week’s highs hold as resistance. The bearish sentiment can be corroborated by the trajectory of gold, which has flipped negative after a strong rally

Here’s the Crucial Trading Range That Will Determine Bitcoin’s Macro Outlook

Source Node: https://bitcoinist.com/heres-the-crucial-trading-range-that-will-determine-bitcoins-macro-outlook/?utm_source=rss&utm_medium=rss&utm_campaign=heres-the-crucial-trading-range-that-will-determine-bitcoins-macro-outlook
Time Stamp: August 11, 2020 7:00 PM - Modified On: May 21, 2021 - Published By:
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Bitcoin has been caught in a firm consolidation phase but is now showing some signs of weakness The cryptocurrency is currently pushing down towards its key support within the mid-$11,000 region as its bulls falter There is currently a massive trading range that analysts are closely watching Which of the range boundaries that the crypto breaks above – or below – first will likely offer significant insight into its near-term trend Some respected traders are also gearing up to short the upper end of this trading range This is a

The Stars are Aligning for Ethereum’s Price; But Will Bears Prevail?

Source Node: https://bitcoinist.com/the-stars-are-aligning-for-ethereums-price-but-will-bears-prevail/?utm_source=rss&utm_medium=rss&utm_campaign=the-stars-are-aligning-for-ethereums-price-but-will-bears-prevail
Time Stamp: August 11, 2020 4:00 PM - Modified On: May 21, 2021 - Published By:
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Ethereum has been struggling to garner any further upwards momentum in recent times This comes as the cryptocurrency struggles to break above the heavy resistance that has emerged around $400 ETH has been moving in lockstep with Bitcoin – which is also struggling to break its resistance at $12,000 Until both of these digital assets are able to push higher and shatter the massive selling pressure they are currently facing, they will likely extend their macro consolidation phases Analysts are noting that there are a plethora of different factors counting

History Suggests Bitcoin Could Soon See a Rapid Rise to Fresh All-Time Highs

Source Node: https://bitcoinist.com/history-suggests-bitcoin-could-soon-see-a-rapid-rise-to-fresh-all-time-highs/?utm_source=rss&utm_medium=rss&utm_campaign=history-suggests-bitcoin-could-soon-see-a-rapid-rise-to-fresh-all-time-highs
Time Stamp: August 11, 2020 2:00 PM - Modified On: May 21, 2021 - Published By:
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The entire cryptocurrency market – including Bitcoin – is currently witnessing some slight downwards pressure that has slowed BTC’s ascent The benchmark cryptocurrency is facing what appears to be insurmountable resistance at $12,000 Each attempt that bulls have made to break through this level has resulted in firm rejections that send its price reeling down towards the mid-$11,000 region Despite showing some signs of weakness, the cryptocurrency remains well-positioned to see further near-term upside – according to one analyst BTC is currently forming a similar market structure to that seen

Ethereum Reaches a Turning Point; Here’s What Could Reverse Its Uptrend

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Time Stamp: August 10, 2020 4:00 PM - Modified On: May 21, 2021 - Published By:
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Ethereum has been consolidating alongside Bitcoin throughout the past several days, struggling to break above the heavy resistance that has been formed at $400 This consolidation phase has offered little insight into the cryptocurrency’s near-term outlook Analysts are now noting that ETH may be well-positioned to see significant upside in the short-term One trader is noting that there is one level that could invalidate this strength, but it remains unclear as to whether or not it will be tested anytime soon Ethereum and the entire cryptocurrency market is currently witnessing

Bitcoin Price Seals Best Weekly Close in 2.5 Years: 5 Things to Know

Source Node: https://cointelegraph.com/news/bitcoin-price-seals-best-weekly-close-in-25-years-5-things-to-know
Time Stamp: August 10, 2020 5:18 AM - Modified On: May 21, 2021 - Published By:
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Bitcoin (BTC) greets another week with a push to $12,000 and its highest weekly close since after it hit $20,000 — will it return?Cointelegraph takes a look at five things that stand to impact BTC price performance in the coming five days.BTC: A two-and-half-year record weekly closeBitcoin hitting $12,000 again early Monday was more than just a boon for traders — in doing so, BTC/USD sealed its highest close on weekly time frames since January 2018.This means that no single week of price action ended at such high levels since,

Bitcoin Erupts Past $12,000: Here’s What Analysts Think Comes Next

Source Node: https://bitcoinist.com/bitcoin-erupts-12000-analysts-comes-next/?utm_source=rss&utm_medium=rss&utm_campaign=bitcoin-erupts-12000-analysts-comes-next
Time Stamp: August 9, 2020 10:14 PM - Modified On: May 21, 2021 - Published By:
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Just hours after the daily candle close, Bitcoin has begun to erupt higher. The cryptocurrency just minutes ago crossed above $12,000 for the first time since the flash crash on August 2nd. BTC bulls are believed to be in control after Bitcoin closed the weekly candle above the ever-important $11,500 level. Analysts think that Bitcoin will continue higher as long as $11,500 holds. Bitcoin Surges Past $12,000 Just minutes ago, Bitcoin broke past $12,000 for the first time since the August 2nd flash crash. The cryptocurrency is now up 3%

What Hope Do Bears Have If Bitcoin Holds $11,500? Analyst Asks

Source Node: https://bitcoinist.com/hope-bears-bitcoin-holds-11500-analyst/?utm_source=rss&utm_medium=rss&utm_campaign=hope-bears-bitcoin-holds-11500-analyst
Time Stamp: August 9, 2020 4:00 PM - Modified On: May 21, 2021 - Published By:
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Despite the parabolic performance in some altcoins, Bitcoin is stagnating around the high-$11,000s. As of the time of this article’s writing, BTC is trading for $11,600. This comes after it was rejected last week at the $12,000 level yet again, marking a loss for bulls. Analysts say that Bitcoin managing to hold the $11,500 level would bolster the medium-term bull case dramatically. One trader went as far as to say that the cryptocurrency closing the weekly candle at $11,500 could leave bears without much hope. He isn’t the first commentator