Category: Analysis
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Analysts expect this crypto to explode higher after leading yesterday’s market surge
Today has been a great day for crypto investors, with the market posting some intense gains close on the heels of its recent capitulatory downturn seen exactly one week ago. This upswing has allowed Bitcoin to climb 17 percent, while Tezos and some other smaller altcoins have climbed 20 percent or more. Although this price…
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XRP forming highly bullish price cycle as one analyst eyes a big upside
XRP has been severely impacted by the recent market-wide downturn, with the third-largest cryptocurrency by market capitalization briefly falling behind the Tether (USDT) stable coin last week when its price plummeted below $0.10. This bearish price action has shown some signs of dissipating, however, as the crypto is now in the process of exiting a…
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Bitcoin price surging 26% in less than 2 days is worrying traders, here’s why
The Bitcoin price has increased by 26 percent within the past two days, rising from sub-$5,000 to as high as $6,400 across major crypto exchanges. But, several top traders are not optimistic in the short-term. Many technical analysts have anticipated the Bitcoin price to surge past the $6,000 resistance level after a major sell-off to…
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Has the Chainlink bubble burst? Analyst eyes further downside following 60% crash
Chainlink (LINK) was one of the most bullish cryptocurrencies throughout 2019 and 2020, with the crypto racing from its year-to-date lows of $1.70 to highs of nearly $5.00, before facing a significant selloff that has since sent it reeling down 60 percent. This intense decline has led it to erase virtually all of the gains…
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Analyst: Bitcoin could see $50,000 “relatively quickly” if it holds current levels; here’s why
Cryptocurrency investors have had their perspective and outlook on Bitcoin drastically changed by its recent price action, with its close correlation to the global markets nullifying its status as a safe haven asset and seeming to confirm that it is a risk-on asset. This close correlation to the global markets, however, could change at any…
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Top analyst bashes Bitcoin halving hype, but math begs to differ
Over the past few months, the upcoming Bitcoin block reward reduction — best known as a “halving” or “halvening” — has been branded the harbinger of the next explosive cryptocurrency bull run. Indeed, from a pure charting standpoint, the last two halvings, which are byproducts of BTC’s algorithmic monetary policy, have marked the start of…
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Crypto market structure “broke” last week but BitMEX wasn’t the cause, says crypto fund manager
The managing partner and co-founder of crypto hedge fund Multicoin Capital, Kyle Samani, says that the crypto market structure “broke” last week on account of a bottleneck in the Bitcoin blockchain and miners shuttering operations. Samani drew the conclusion in a blog piece Wednesday titled “March 12: The Day Crypto Market Structure Broke,” a post-mortem…
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Stock futures are dropping again, suggesting Bitcoin may see another drop
The U.S. stock market rebounded today following yesterday’s unprecedented selloff, with all of the major indices climbing over five percent today. This led Bitcoin and the aggregated crypto market to follow suit, with BTC and most other altcoins posting decent gains over the past 24-hours. This ongoing rebound may be short-lived, however, as the benchmark…
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Bitcoin is up 24% in 2 days, but it’s showing two key signs of a local top
The Bitcoin price has recovered by 24 percent in the last 32 hours from around $4,394 to $5,500. It has since stabilized at $5,300, but it is now showing two signs of a local top. What are the two signs Bitcoin is showing? While the Bitcoin price has shown a promising upsurge since March 16…