Category: Analysis

Ray Dalio clarifies his position on Bitcoin saying he “greatly admires” it

Billionaire philanthropist and founder of Bridgewater Associates Ray Dalio clarified his stance on Bitcoin, saying he respects how it’s fared over time. “I greatly admire how Bitcoin has stood the test of 10 years of time, not only in this regard but also in how its technology has been working so well and has not…

January 29, 2021
Here’s why Elon Musk’s simple Twitter bio change rocketed Bitcoin up 18%

The price of Bitcoin surged 18% after Elon Musk, the CEO of Tesla and SpaceX, added “Bitcoin” to his Twitter bio. The price of Bitcoin. Source: BTCUSD on TradingView.com Why would Bitcoin rally this hard off of a Twitter bio change? Musk adding Bitcoin to his bio carries more significance than many can imagine. First,…

January 29, 2021
Dogecoin (DOGE) rockets 800% higher and enters the top 10 as WallStreetBets starts to pick up on crypto

Over the past few months, there have been expectations of an extremely strong Dogecoin (DOGE) rally. Each and every bull market/trend over the past half-decade plus now has been marked by an extremely strong rally in the DOGE price. It’s a meme-based cryptocurrency of course, though has done really well. This past day, the rally…

January 28, 2021
Why a trader says a Bitcoin bottom is close, based on a key technical structure

Scott Melker, a cryptocurrency trader and the author of The Wolf Den Newsletter, believes a short-term Bitcoin bottom is close. Melker often uses the relative strength index (RSI) indicator on the 4-hour and 6-hour candle chart time frames to identify potential trend reversals. The RSI is an indicator that is used to evaluate whether an…

January 28, 2021
Anthony Scaramucci says GameStop rally is evidence of Bitcoin “proof of concept”

Former White House Director of Communications Anthony Scaramucci says the GameStop rally shows why Bitcoin, as a concept, will succeed. Bitcoin’s bright future The GameStop rally has come to symbolize individual power exceeding the might of Wall Street. Scaramucci, who co-founded alternative investment firm SkyBridge Capital, spoke about the decentralized crowd’s power in moving the…

January 28, 2021
What were investors thinking as the Bitcoin price slipped under $30,000?

Bitcoin’s price slipped under $30,000 a few hours ago as selling pressure began to pick up across top exchanges. This came after BTC attempted to push past the $33,000-34,000 resistance region on Monday. The cryptocurrency has since bounced after slipping under $30,000, bottoming in the $29,500 range that Bitcoin bottomed over seven days ago. Chart…

January 27, 2021
Bitcoin drops below $30k with $450 million in futures liquidated—what’s next?

The cryptocurrency market saw over $450 million worth of futures contract positions liquidated in the last 24 hours. In the same period, Bitcoin pulled back by more than 7%, showing weakening momentum. On Binance, the price of Bitcoin dropped to as low as $29,500, retesting a critical support level. Bitcoin price chart. Source: BTCUSD on…

January 27, 2021
Former Goldman Sachs exec Raoul Pal: Bitcoin price could hit $50,000 by March

Bitcoin has finally begun to cool down after an extremely strong rally in December and early January. After peaking at $42,000 earlier this month, the cryptocurrency has settled toward $31,000, which is over 25 percent off those highs. Analysts remain confident that this malaise won’t stop the trajectory of the market in the medium to…

January 26, 2021
Bitcoin breaks out of crucial 4-day range: what happens next?

The price of Bitcoin broke out of its 4-day range, pushing above a critical technical resistance level at $33,800. This upside movement is important because it sets BTC up for a potential retest of the $40,000 resistance area. The price of Bitcoin. Source: BTCUSD on TradingView $37,800 is the big roadblock before $40,000 for Bitcoin…

January 25, 2021
Chainlink (LINK) surges as Grayscale CEO hints at upcoming unknown announcement

Chainlink (LINK) is bumping higher on Sunday and Monday morning as the altcoin market has begun to rip higher. The seventh-largest cryptocurrency is up five percent in the past 24 hours, making it the top-performing altcoin in the top 10 by market capitalization. LINK is currently trading at all-time highs, having broken out of its…

January 25, 2021