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Bitcoin Smashes Past $13,000: BTC is “Bullish AF”, Analyst Says

Bulls Boost Bitcoin Beyond $13,000

Bulls have continued to make their presence known on Wednesday. Bitcoin (BTC), as of the time of writing this, is changing hands for $13,050 apiece, marking the highest the asset has been since late-June, prior to the brutal $4,000 dump following the blow-off top at $13,800. This rapid bullish reversal, which took a mere two weeks’ time, accentuates that Bitcoin is clearly in an uptrend.

If Bitcoin manages to close a daily candle, let alone a weekly candle, above $13,000, many analysts, including Crypto Hornhairs and Josh Rager, are sure that a move to establish new year-to-date highs will come in the coming days.

In fact, as Satoshi Flipper has pointed out, the Moving Average Convergence Divergence (MACD) indicator on Bitcoin’s one-day chart flipped green, implying that there is a number of days of upside possible without a notable pullback.

As a result of this move, altcoins have begun to suffer further. In fact, as of press time, the Bitcoin dominance reading on CoinMarketCap sits at 65%, meaning that BTC effectively makes up two-thirds of the entire cryptocurrency industry. Long live the king.

This outlet has a number of speculative reasons why this trend is occurring. Per previous reports, Chris Burniske, a partner at venture fund Placeholder, suggested in a Twitter thread that when BTC rallies strongly, a “majority of ‘alts’ fall against Bitcoin.” Burniske attributes this to the fact that Bitcoin is the main liquidity provider in the space, thus making it illogical to sell much of the time.

Also, many altcoin projects have failed to deliver, all while institutional investors and large-name investors getting involved in cryptocurrency have focused their sights on Bitcoin.

Ichimoku Cloud Shows BTC is “Bullish AF”

Anyhow, how’s Bitcoin looking from a bit of a longer-term perspective? According to analyst CryptoHamster, quite, quite good. In a recent tweet, up-and-coming trader gave five reasons why Bitcoin looks bullish on its one-week chart according to the Ichimoku Cloud.

  • The cloud itself is green, implying that bulls are in control.
  • BTC is trading above the cloud.
  • BTC is trading above the conversion and baseline.
  • The conversion line is trading above the baseline.
  • The lagging span line has crossed price.

This isn’t the only sign that should have investors of this market entirely enthused. As spotted by Filb Filb in June, a prominent cryptocurrency analyst who believes BTC reaching $100,000 and beyond is possible, the one-month MACD was about to experience an extremely bullish crossover. More specifically, the indicator, meant to observe overarching trends, is about to see its third monthly cross from red to green in Bitcoin’s history.

he last time that this was seen was when BTC embarked on its bull run from the low triple digits ($300) to $20,000. 

Photo by Thought Catalog on Unsplash

The post Bitcoin Smashes Past $13,000: BTC is “Bullish AF”, Analyst Says appeared first on Ethereum World News.

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EOS, BNB and TRON (TRX) Will Rise Over 400% By The End of 2019, Panel of Experts Predicts

2019 will be a bullish year and most analysts and experts in cryptocurrencies seem to agree. After presenting important indications of growth, many experts declared the beginning of Alt Season. This, of course, increased optimism and expectations of investors and crypto enthusiasts around the world.

A study by Finder contrasted the perceptions of a panel of 10 experts who analyzed the performance of 13 leading altcoins, in order to give their predictions.

While all altcoins appear to be bullish (Bitcoin too, read the full story here) the panel of experts believes that Tron (TRX), EOS and BNB will close the year with the most profits. The worst performers (although bullish) will be BSV, Monero (XMR) and XRP.

EOS Will be The most Bullish Crypto According to the Experts

The panel of experts was extremely bullish about EOS. On average, they expect the crypto to reach a price close to $18.7 which would represent an increase of 727% over the beginning of the year.

EOS could be the most bullish crypto according to experts

Binance Coin (BNB)

Binance’s native token will be the second most profitable cryptocurrency, with an expected growth of 450% by the end of December 2019. Experts predict that the token will go from 6.24 USD to approximately 34.9 USD.

Binance (BNB) Will remain strong

TRON (TRX)

The blockchain promoted by Justin Sun remains in third position, very close to the BNB. Experts say each token should reach about $0.15 for a growth of about 449%.

Tron (TRX) will be one of the best perdorming cryptos

XRP Will Perform Fine… Just Not That Fine

Ripple’s token is at the bottom of the list with a 49% increase. While it is well below the 727% obtained by EOS, it is also much stronger and more optimistic than the better forecast of other financial instruments such as the SP500 or the Nasdaq. Experts believe the token will close the year at least near $0.44 per token.

XRP will not be as bullish as its army expects

Monero (XMR)

The privacy coin seems to be a little underground since 2017. According to tech experts, after overcoming a bearish streak, the token will end the year with a value of 68.5 USD, which represents a 57% increase in its value.

Monero could increase its value by 57% according to the panel of experts

BSV

The token sponsored by Craig Wright (famous for his claims of being Satoshi Nakamoto) could rise above $605 which translates into a positive performance of 60%.

Bitcoin SV will have a poor (but bullish) performance according to the experts

The post EOS, BNB and TRON (TRX) Will Rise Over 400% By The End of 2019, Panel of Experts Predicts appeared first on Ethereum World News.

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BTC and ADA Are Showing Positive Signs With Strong Bullruns and Weaker Corrections

The
cryptomarket is going through some good times, recovering from the sharp fall
it had during 2018. The recovery of the global marketcap, and the high number
of developments around cryptos and blockchain technologies has led many
analysts to claim that we are close to witnessing not only a stabilization of
the markets but also a bullish trend in the short term.

Of all the crypto currencies on the ecosystem, BTC has always been the reference token, not only for holding the most powerful position in the top 10 but also for having the highest number of users and software developments.

BTC is Having a Great Week

BTC has
experienced a significant price increase. After a period of constant “Bart
Simpsons”, it finally seems that the most important cryptocurrency in the world
broke the 5k resistance. This marks an a crucial milestone as it is a a value
that could not be reached for months.

However, during the last few hours BTC was curiously bullish. The token easily broke the 5.4K to flirt with the 5.6K band. If this trend continues, it could be said that BTC has been bullish for the entire past week, winning between 500 to 600 Dollars per token.

BTC. 30 minute candles. After the big green candle, 5580 has become a new support
Bitcoin (BTC) 1day candles. courtesy Tradingview

Cardano (ADA) Also Shows Some Positive Signs

Another token that has been specially bullish is Cardano (ADA) The project that promises to solve the “blockchain trilemma” experienced a a surge of about 10% in less than 24h, standing at one point almost at $0.08 per token.

One of the reasons for this rise is the positive reaction of the market to the announcement by Charles Hoskinson (head of the project) saying that IOHK managed to close a an association with the Ethiopian government to popularize the use of Cardano in that region.

According to Mr. Hoskinson, thanks to this partnership the Ethiopian authorities, the government will allow its citizens to use ADA to make payments as if it were fiat. Also, residents of Addis Ababa, the capital of the country, will be able to use ADA to pay for public transport services in the city.

Right now, Cardano (ADA) experienced a correction that placed the token back to the support at 0.074 USD. The token then went up again to 0.075 with signs of another possible bullish trend in the short term

Currently the bullish trend seems to be solid in most of the markets. The signs of a trend reversal are not strong enough to be frightened, however it is important to follow the charts, remembering that cryptocurrencies are extremely volatile.

The post BTC and ADA Are Showing Positive Signs With Strong Bullruns and Weaker Corrections appeared first on Ethereum World News.

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Fatfish Internet CEO: The Second Wave Rally Is Very Strong, ETF Soon

The sentiment surrounding this industry is beginning to shift, with many industry leaders and market experts/analysts indicating that they are ready to see another influx of involvement and interest, potentially through an ETF. As reported by Ethereum World News, experts like Tom Lee and Spencer Bogart have stated that the industry’s fundamentals and technicals indicators are starting to turn bullish.

Bitcoin Recovers 40% From Lows, Positive For “Early Adopters” 

The CEO of FatFish Internet Group, a global technology-focused venture capitalist fund, recently appeared on CNBC to discuss his opinions on the cryptocurrency industry, specifically regarding the crypto-backed ETF hype and proposals.

On CNBC‘s “The Coin Rush” segment, Kin-Wai Lau opened off by speaking on a so-called “second wave rally.” He noted:

“I think we are experiencing a ‘second-wave rally’ for Bitcoin and cryptocurrencies. It is a very strong wave, (that’s) driven by institutional demand, its driven by adoption. (There is) lots of interest this time around, trading volume is several times higher in comparison to the lows.”

As seen over the recent weeks, Bitcoin has seen a resurgence, bouncing back from a low at $5,800 to a high of $8,500 last week. While altcoins haven’t been performing as well as the foremost crypto asset, they too have drastically increased in value since the lows.

Although the market has since seen a pullback from the monthly high, the market is still looking strong due to increased interest from institutions and real-world adoption, as pointed out by Lau. Moreover, the return of volume has also brought some to believe that interest in this nascent industry has come back, and is here to stay. As of the time of press, the market’s collective trading volume is currently at $17.7 Billion, which is nearly double the figure seen at the yearly low.

Speaking more on what this recovery means for the industry, the CEO stated:

“It is generally very positive for early adopters and people who are interested in this sector.”

“It’s Only A Matter Of Time Until The SEC Approves An ETF”

The recent news regarding a Bitcoin-backed ETF has thrown many for a loop. For some, the ETF is what’s going to turn the industry upside-down, rapidly increasing adoption rates and institutional demand. While others see the proposal as unnecessary and unwarranted, or at least in the current state of the market.

FatFish’s CEO believes that “it’s only a matter of time until the SEC approves an ETF,” later pointing out that the area of contestation would be which organization can create a fund that most mirrors the needs and wants of regulators. Kin-Wai Lau stated:

“It’s just which organization would be able to come out with the most comprehensive tools, in terms of monitoring, surveillance, creating liquidity.”

Speaking more on the timeline for a potential ETF, the executive of the tech firm noted that it may just be a few months until the market is ready to accept a fully-fledged Bitcoin ETF.

Closing off his time on the show, Lau sees Bitcoin trading within $10,000 to $15,000, as real-world adoption picks up and regulators take a more optimistic approach to the industry.

Image Courtesy of NeuPaddy/Pixabay

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