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BTC at 10k by late 2019, Tom Lee Predicts. Not So Fast, Tone Vays Says

The recent surge in the price of BTC and the rest of the altcoins has led many analysts to take an optimistic view about the cryptomarkets, vowing that the bearish trend of 2018 is possibly coming to an end.

Tom Lee

After a series of failed
predictions, Tom Lee has again raised expectations in the community, assuring
that Bitcoin could surpass the 10k mark in 2019. In an interview with
MarketWatch, the well-experienced Bitcoin bull explained the reasons
why BTC could even exceed this target:

“Risk appetite is positive for bitcoin … If the S&P 500 made a 2.5 standard deviation move [as it has done year-to-date] and investors are looking for vol [volatility] that’s building a base case for Bitcoin.

Lee is recognized in the community for his strong bullish sentiment even in the worst of times. In 2018, he predicted that BTC could end the year at 25k, then 22.5k, then 15k. After the BTC closed 2018 below 4k, the head of Fundstrat Global Advisors tweeted that he would not make more predictions about the price of the BTC.

Not So Fast Bullish Team, Not So Fast

Not everyone shares Tom Lee’s judgement; there are still many investors with a bearish view of the market. One of them is Tone Vays, who recently explained that it is very probable that this is a “Bull trap”.

“If the bull run was caused by a major whale purchase in the market, then it would never be sustainable in the long term.”

Tone Vays

Mr. Vays explained that the rise cannot be considered a bullish trend since it only lasted two days, and if it was provoked by a massive investment by a whale, it is possible that a correction will happen soon.

Vays explains that if the BTC falls below 4950 USD, the bearish streak could lead to new lows. The renowned trader recently commented that BTC could reach 1.3k in a highly pessimistic scenario.

“Right now that we have reached 5k, I’m trying to find the right opportunity to try to short the market once again because I do think we are going lower. I am still a bear in this market, and I still think that sub 3 thousand dollar prices are more likely than above ten thousand dollars at this point in time”

BTC is currently stable in the 5-5.1k band with a total capitalization of $ 89,238,923,035 and a token price of 5062 USD at the time of writing, according to data provided by coinpricewatch

The post BTC at 10k by late 2019, Tom Lee Predicts. Not So Fast, Tone Vays Says appeared first on Ethereum World News.

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Analyst: Bitcoin Moving Average Points to More Gains Ahead

Bitcoin BTC 200 Day Moving Average

While the crypto markets are showing slight contraction, with Bitcoin holding trading above $5000 in the hope for renewed price action, several analysts are pointing to the 200-day moving average as a bullish indicator.

The most recent bull run for Bitcoin and the larger cryptocurrency marketplace gave BTC its best day of trading since the massive valuation increases seen during the final month of 2017. After a strong weekend of growth, BTC price shot to $4700 on April 1, and continued to gain an additional 20 percent on April 2 to take the currency above $5000. The next two days brought about a consolidation in trading, with the price of BTC fluctuating around the $5k as both bullish and bearish investors weigh in on establishing a new floor or ceiling for the coin.

However, the market price for BTC represents a substantial increase over prices experienced earlier in the year, when Bitcoin appeared to be destined for $3000 or lower. The recent price rally has given a strong indicator to analysts that the top cryptocurrency by market capitalization likely found its bottom at $3000, with the next movement representing a broader trend in how the coin will proceed into the remainder of the year.

New York-based Fundstrat Global Advisors finds that Bitcoin could be about to extend into a 200 percent price surge, making the currency worth $13,500 if current indicators hold true. According to the research firm, Bitcoin closed above its 200-day moving average on April 2nd for the first time in more than a year, mostly due to the massive price rally that initiated the price kick-off.

In a note to clients, Fundstrat explained that closing above the 200-day moving average has been a historically bullish indicator for BTC, with a win-ratio of 80 percent compared to that of 36 percent when the coin trades below,

“Based on bitcoin’s trading history, a move above the 200-day moving average for bitcoin is meaningful statistically. When bitcoin is above its 200-day moving average its win-ratio is 80% compared to a mere 36% when it is below its 200-day.”

Fundstrat continued that trading above the 200-day moving average significantly increases six-month forward returns, which average 193 percent compared to a “measly 10% when below its 200-day moving average–hence, being above the 200-day moving average is a big deal.”

While investors, both bullish and bearish, attempt to sort through what the most recent price rally means for the valuation of Bitcoin, most community members are looking at market conditions differently than they did in 2017. Compared to that time, cryptocurrency adoption has grown substantially, with major companies such as Facebook and J.P. Morgan Chase now providing a new face of confidence for the industry.

The fear that cryptocurrency may once again find itself over-extended, with coin prices vastly outweighing the actual valuation and impact of the technology has been dwindling since the start of the year. Already industry hopefuls and cryptocurrency enthusiasts are finding reasons to own crypto outside of what they can accomplish through price speculation.

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John McAfee Says “Told ya” To The Whole World After (Not-April-Fools) BTC Pump

After reaching ATH in 2017, Bitcoin (BTC) started to fall until approaching the dangerous limit close to 3k, making it one of the most dramatic falls in history, however at the beginning of 2019 Bitcoin remained stable in the 3.5k zone, which led many to think the bearish market could be losing strength (not speaking of a bull run yet).

Weekly evolution of BTC prices.
Weekly evolution of BTC prices.

However, Just a few hours ago, something completely unexpected (and difficult to explain from the point of view of technical analysis) happened. If the community didn’t have access to real-time charts, reading in the news that Bitcoin went up to almost 5k would have seemed like an obvious “April fools” joke, but sometimes reality surpasses fantasy: In 1 hour, BTC went from 4k to 5k for no apparent reason (at least this writer can’t find an explanation).

BTC Prices 30min candles
BTC Prices. 30min candles

Being as
outspoken as he is, Mr. McAfee tweeted about this event, but the well-known
businessman did not opt for caution: he went a bit further and just
after the confusion generated by Aprils fool’s day, and in the middle of a
market where analysts and enthusiasts were trying to understand what was
happening, the controversial cybersecurity expert told his followers that
“the market has now turned”.

This tweet
seems to be a sort of “told ya,” especially in a world where Bitcoin
can surprise us in minutes and make us believe that we live an eternal April
fools day. Of course, there is some reality in that joke…

For days now, many analysts have begun to speculate that the increase in the volume of altcoins trading could be a sign that the alt season had started, yet a few still dare to recommend the accumulation of Bitcoins as a trading strategy.

BTC tends to react with less volatility than the rest of the altcoins; however,
it is unquestionable that when it comes to technicals, the performance of BTC
is the one that marks the trend that many alts reflect.

Despite being a controversial character, no one can deny that this time, jokingly or seriously, McAfee was right… And maybe in 2020, we’ll see a McAfee with his penis still attached to his body, telling the world “I told ya” once again.

The post John McAfee Says “Told ya” To The Whole World After (Not-April-Fools) BTC Pump appeared first on Ethereum World News.

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Analysts: A Bitcoin (BTC) Breakout Could Be Happening In November

Throughout summer, Bitcoin price has been swinging between $6,000 and $8,000. However, according to some price analysts, Bitcoin price may well see a breakout come November. Forbes’ Billy Bambrough opines that market experts expect the breakout as early as November this year. However, he recognizes that a section of these experts are pegging their hopes on September, with the end month favored.

The Prospects

This breakout is expected because of two primary reasons: First, SEC is deliberating on whether to approve the Bitcoin ETF application presented by SolidX/VanEck. The decision is set to happen on or before September 30, and hopes are high that the proposal might be approved especially after the decision was delayed. Also, the fact that SEC announced its decision to review 9 other ETF applications turned down recently is another strong indication that things could turn out positive for the crypto.

Secondly, the Intercontinental Exchange (ICE), which is NYSE’s parent company, is set to launch a Bitcoin ETF on 5th November. The ICE launched a crypto platform, Bakkt, back in July and has partnered with large corporations like Microsoft, Boston Consulting Group, and Starbucks. However, the ICE’s ETF will differ from others in that it will be offered via its own platform and will use Bitcoin for every transaction conducted on its network. This measure is aimed at improving price discovery.

Finnbjornsson: Bitcoin Price To Hit $10,000

Bambrough also cited another expert, Hermann Finnbjornsson, who said that the value of Bitcoin could swell up to hit $10,000 within the first week of November. Hermann is the founder and chief executive at Svandis, a crypto advisory firm. Speaking to The Street, Hermann said that Bitcoin had a more than 99% chance to succeed in a bullish run.

However, there’s a still some debate within the crypto community about whether Bitcoin really needs an ETF approval to succeed. So far, the cryptocurrency has survived and weathered storms for a whole decade since its inception back in 2009. This puts to question the impact of an ETF approval on the Bitcoin market.  Granted, there exists a possibility of the cryptocurrency being over-financialized as a result of an ETF.

In any case, the events of late September and early November will spell out the future of the coin market. If both ETFs pull through, it could mean a huge boom with a significant price upshot for the cryptocurrency.


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“We Are More Likely to See $10,000, Rather Than $5,000,” Says CEO of Genesis Capital

The cryptocurrency market seems to be recovering from a strong bearish trend that has lasted all year, and the bullish sentiment may be taking over the markets, so several analysts have said, adventuring to study the world of cryptocurrencies and the markets in general. One of those is Michael Moro, CEO of Genesis Global Trading.

In an interview for CNBC, Michael Moro said he is confident that Bitcoin can start a bullish run in the short term if it can overcome its resistance on the 7k band.

Michael Moro discussing BTC prices with the Panel of CNBC’s Fast Money

This opinion is based on simple technical analysis. Those who firmly believe in this prediction method over the use of fundamental analysis can come to this conclusion very quickly.

It is also important to note that other long-term indicators confirm that a reversal of the bearish trend could occur if the bullish are able to pass this severe test.

Michael Moro is quite optimistic about the maximum prices of this fluctuation. For him, after defeating the 7k, it is hard to foresee a near bearish domain. He says that it is easier to see a steep climb than a slightly more moderate descent:

“If the [$7,000] level holds, say for the next week, two weeks, the bulls will 100 percent be back. They will be more comfortable that the lows for the year are in, and that we are more likely to see $10,000, rather than $5,000.”

Michael Moro

Crypto Market is Maturing

Moro considers it important that the markets were not strongly affected by the recent SEC decisions to reject an ETF Bitcoin; however, it is important to note that while this news was discouraging, Hester Peirce’s opinion was a relief to the community, giving optimism to those nervous sellers.

He says he does not think the SEC will approve an ETF in the near future but does not rule out the reality in the longer term.

“I believe the market now understands that the SEC’s ETF approval isn’t any time soon. So I think that the market sentiment regarding the product and the approval process is now far more muted, which I think is a healthier outlook for the next 12 months,”

The Key: 7510 USD

For Mr. Moro, the critical price to follow beyond a band is, specifically, $7150. Bitcoin has not yet reached this level, but seems to slowly begin to get closer.

The well-known businessman believes that the market is able to keep the price close to this amount this week, next week could be a smooth and energetic foundation for a bullish run in the crypto market.

Bitcoin is currently quoted below 7k; however, even though it has exceeded 7k, it has not yet reached the figure set by Mr. Moro.

Fluctuation of BTC Price during August 2018. Graph: Tradingview

Girl in a jacket


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Bitcoin Price Approaches $7,000 as Tom Lee Predicts Explosive End of Year Run

After days of holding steady between $6,400 and $6,700, Bitcoin is finally making a run for the $7,000 price level. The top-ranked cryptocurrency headlines a substantial price recovery that has the total market capitalization climb to $225 billion.

Bitcoin Breaks $6,700 Resistance Level

Bitcoin rose by more than $200 on Tuesday (August 28, 2018), reaching $6,916 as of 7 am UTC. The sudden climb occurred at 12 am UTC as BTC rose from $6,766 to above $6,900 in a matter of 35 minutes. At press time, BTC was trading at $6,935 having risen by more than three percent in the last 24 hours.

The top-ranked cryptocurrency is currently at its highest price since August 7, right before the start of a series of declines that eroded most of the gains accrued in July. Apart from BTC, the rest of cryptocurrency appears to be performing well. ETH and XRP have both soared significantly, but MIOTA is the best performing top-ten coin, rising by more than 15 percent over the last 24 hours.

Outside of the top ten, NEO is up by nine percent, VeChain by 13 percent, DASH by 21 percent. More than 80 percent of the top 100 coins have experienced positive gains in the last 24 hours in what seems like a positive start to the week for the bulls.

Bitcoin Could Set New All-Time High (ATH) in 2018

A few days ago, Tom Lee predicted that BTC could end 2018 with a new ATH. Speaking to CNBC, Lee highlighted the correlation between hedge fund investment, emerging markets, and the price of BTC. According to Lee, signs point to an aggressive price climb for the top-ranked cryptocurrency.

Lee explained the connection between all three parameters using two factors – hedge funds and wealth effect. According to the Fundstrat analyst, the switch between “risk on” and “risk off” for hedge funds as well as the fluctuating stock market prices directly impact the price of Bitcoin. Commenting further, Lee said:

Until emerging markets begin to turn, I think in some ways that correlation is going to hold and tell us that sort of the risk on mentality is those buyers aren’t buying bitcoin.

Tom Lee has since the beginning of the year, predicted that Bitcoin would end 2018 at $25,000. Commenting on the fate of the number one cryptocurrency’s price, Lee said he expects BTC to end the year “explosively higher.”

Do you think the current price rally points to a significant market recovery? What is your end of year BTC price forecast? Keep the conversation going in the comment section below.

Image courtesy of Coinmarketcap.

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Bitcoin Price Will Hold at $6,000 Before Reaching $15,000 by Christmas, Says CoinCorner Co-founder

Despite the recent price struggles of Bitcoin and the rest of the cryptocurrency market, some enthusiasts still hold hope of a significant rally before the end of the year. Elsewhere, the rising BTC hashrate is beginning to force sweeping reactions in the mining ecosystem.

Bitcoin Will Hit $15,000 by the End of 2018

Danny Scott, a co-founder of CoinCorner, an Isle of Man-based Bitcoin exchange platform, believes that the top-ranked cryptocurrency will end the year on a strong note. Speaking to, Scott said:

For the last few months, the price of Bitcoin has been at $6,000 which we believe will continue for a while, but we predict the price will reach $15,000 by the end of the year. We take this view because the retail market is continuing to expand at a very healthy rate based on both our own data and industry trends.

According to Scott, his prediction is based on the fact that institutional investors are becoming more active in the market. These big-money traders are reportedly buying BTC in high volumes, thus helping to initiate another significant bull run in 2018.

Despite the recent tumultuous price movements, BTC has managed to recover above the $6,000 mark. Some experts believe that BTC will still test $5,000 before any meaningful rally that will take the price to higher levels. This reasoning assumes that the base mining cost is approximately $5,000.

At press time, Bitcoin was holding steadily above the $6,400 mark. The top-ranked cryptocurrency has also managed to attain its first seven-day positive price variance since the start of August 2018.

Bitcoin Hashrate Continues to Increase

In another development, the Bitcoin network hashrate continues to increase despite the significant price drops experienced in the past few weeks. Already, Hashflare, a cloud mining service platform was forced to terminate its Bitcoin mining contract.

On Thursday, Genesis Mining, another cloud mining platform issued a statement saying that it would terminate open-ended BTC mining contracts. The company advised its customers to migrate to a premium five-year BTC mining contract.

According to Genesis Mining, the reason for the decision was based on the fact that several clients have been unable to earn enough to cover the maintenance fees thus rendering the enterprise unprofitable. However, despite the move, the company remains bullish on the long-term prospects of BTC mining, saying:

There are still major expansions happening, especially from more efficient miners. The expansion is so big that it compensated for the drop-out of not-so-efficient miners.

Do agree with Danny Scott’s prediction? What is your end of year Bitcoin price forecast? Keep the conversation going in the comment section below.

Image courtesy of Coinmarketcap.


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Bitcoin is Set to New Highs, Spencer Bogart Says

Blockchain Capital’s Spencer Bogart, reiterated his bullish position on Bitcoin, affirming he is definitely expecting for it to begin its race towards new highs.

In an interview for CNBC’s Fast Money, Bogart explained his impressions of Bitcoin’s current situation in the market. For the well-known businessman, Bitcoin has already experienced the 2017’s record lows, and for the rest of the year, a bullish trend is expected.

His comments show a more enthusiastic attitude compared to previous participation in which he has been more cautious:

“It’s Possible we’ve seen the lows, and I’m definitely expecting to see new highs, I mean, listen I think prior times I’ve been in the show I’ve said expect to see new lows before new highs… That low may already be in.”

Spencer Bogart

Bitcoin’s current reality justifies the reasons for Mr. Bogart’s recent optimism. From his point of view, many possible catalysts could start a Bitcoin price boom:

“Bitcoin is kind of a tinderbox right now, waiting for reasons to go higher; whether that’s global currency wars, trade wars, whether there is an ETF approval; I think any number of catalysts can send Bitcoin exploding higher.”

Although there has been speculation and analysis about a possible ETF approval in the current year, Mr. Bogart believes that this is much more likely to happen by 2019:

“My guess is sometime in 2019. I think the SEC is going to be thoughtful and take some time but… the cat is already out of the bag here.”

Bogart Focuses on Fundamentals

For Bogart, the conditions for ETF approval are becoming increasingly favorable. Not only from a legal point of view but also from an economic one. He says that there is already high exposure to blockchain technologes, and the adoption of cryptos is increasing.

Also, institutional investors are gaining exposure to cryptocurrencies too, which may increase regulators’ interest in approving crypto ETFs soon.

He commented that currently, the investments he finds most interesting are those of traditional equity startups. He told the staff at Fast Money that “We’ve found great opportunities there.”

As stated By, Bitcoin is on a bullish run. Thecnical Analysis confirm Mr. Bogart’s opinions. However, being a volatile market changes can happen quite unpredictably:

“There wasn’t much to chew on for bulls last week as market watchers were mostly focused on the SEC decision on the bitcoin ETF applications. Some of these were shelved for a later decision date while the application filed by the Winklevoss twins was denied again.

With that, investors are hoping to get more positive industry updates this week to see the climb sustained. Security troubles like hacking incidents might force a larger retreat but more signs of institutional interest from big names could be enough to spur more gains.”

Currently, the Bitcoin is trading above 8.2k. The bullish run has allowed it to increase its value from its historical lows of close to 6k and during this week has remained relatively stable within the 7.5 -8.5k range.


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Bitcoin Price is on the Brink of Going Even Higher, Says Blockchain Venture Capitalist

As Bitcoin continues to hold steady above $8,000, Spencer Bogart predicts that the price rally is nowhere near finished. The blockchain venture capitalist believes that many market conditions will play a pivotal role in the coming weeks and months.

Bitcoin is a Tinderbox Right Now

Speaking to CNBC, Bogart, a partner at Blockchain Capital, a VC fund focused on decentralized technology, said:

Any number of catalysts could send bitcoin exploding higher. Bitcoin is kind of a tinderbox right now, waiting for reasons to go higher.

These catalysts that Bogart refers to include the SEC decision on BTC ETF, trade tensions between China and the United States, as well as the entry of institutional money into the cryptocurrency market.

The trade war between China and the U.S., as well as the former’s subsequent decision its currency has already had a significant impact on the Bitcoin price trajectory. Clem Chambers of ADVFN recently provided compelling evidence to show that the July 19 price surge was caused by affluent Chinese hurrying to convert their wealth to BTC as a hedge against the country’s currency devaluation.

Bitcoin Excels where Other Cryptos Underperform

Bogart is confident that BTC remains one of the most economically viable virtual currencies in the market. Of the over 1,600 coins on offer, the blockchain VC believes that many of them fall into the trap of not being able to deliver on their stated technological and economic premise.

In the case of Bitcoin, however, Bogart says:

You have a few that are kind of excelling at their use cases. Bitcoin being one of them.

Bogart isn’t the only one who shares this view. Earlier in the year, Square CEO, Jack Dorsey and Apple co-founder, Steve Wozniak identified the top-ranked cryptocurrency as the possible candidate for a single worldwide currency within the next decade.

Bitcoin Price Growth isn’t Dependent on Positive SEC Decision

Bogart also touched on the hype surrounding BTC ETFs and the SEC’s decision on the matter. According to him, it doesn’t matter what the SEC decides as the innovation brought about by BTC is unstoppable at the moment.

The blockchain VC also agreed with Mike Novogratz and Barry Silbert by saying that Bitcoin has hit bottom for the year. Even if any price decline happens in 2018, Bogart doesn’t expect it to test the $5,700 low.

Do you agree with Spencer Bogart’s assessment? What is your end-of-year BTC price forecast? Keep the conversation going in the comment section below.

Image courtesy of Coinmarketcap.


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John McAfee: “The Bull Market IS coming”

John McAfee is a highly controversial person not only because of his peculiar way of life but also because of his opinions and his direct way of speaking. The founder of McAfee Inc. and CEO of MGT Capital Investments Inc. has had a very active life in recent months: He said he will run for president, confronted the SEC, called for a boycott of central banks and exchanges, and just survived an assassination attempt.

However, one of the things Mr. McAfee is well known for in the world of cryptos is because of his famous predictions and his bullish stance towards Bitcoin (BTC) when analyzing its long-term performance.

McAfee is one of the most important Bullish influencers, even in bearish times such as those that have been experienced throughout the year, and he has never backed down from his predictions, remaining not only enthusiastic but also assertive to his followers about the future vision of Bitcoin’s (BTC) price.

Bull Market IS Coming

On July 17, Mr. McAfee again caused a Twitter buzz when he wrote a euphoric tweet that soon surpassed several thousand likes.

Despite the high volatility of Bitcoin (BTC), McAfee’s optimism seems to be entirely valid. In more technical terms, other analysts like Tom Lee have mentioned that Bitcoin could be in front of a Bull Run.

John McAfee is known for making one of the most bullish predictions about the price of Bitcoin. The McAfee Line shows that despite the current behavior of Bitcoin prices, to reach 1 Million USD in 2020, Bitcoin should currently be quoted at over 13k.

John McAfee: Just HODL

McAfee has advised its followers not to sell their cryptos. Other notable personalities of the crypto-verse have widely shared this hodler feeling. Recently, Charlie Lee, creator of Litecoin, recommended not selling the Bitcoins and in fact considers it crucial to have this cryptocurrency over any other altcoin.

John McAfee has always been very confident in his predictions, and being a known influencer allows him to contribute to these excellent results actively.

Previously, John McAfee used to tweet about the use of some altcoins. These immediately increased their value in the markets. A few days ago, John McAfee commented that he was going to stop this practice due to legal threats.

Bitcoin has been growing steadily over the last few days. The Heikin Ashi sails show a possible bullish trend, and although some analysts mention that Bitcoin has already reached the minimum levels of 2018, it is still too early to make predictions with a higher degree of certainty.

Graph provided by Tradingview