Bitcoin Price Analysis: Do Fundamentals Drive Price?
Bitcoin price meanders near its low, apparently acquainting itself with long-term support. Chart technicals to one side today, as we consider the question “Do fundamentals drive price?” Today’s article considers the bitcoin price chart in context of similar speculative markets. The discussion focusses on the notion of fundamentals. The term fundamentals is used in its broadest sense, and not in the strict investment definition that refers to company balance sheets, work in progress, and so on. Although there are parallels between the bitcoin price market and other commodity markets, as....
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Crypto analyst EXCAVO has alluded to the potential Litecoin ETFs and how they spark a massive price surge for LTC. The analyst also revealed how high LTC could rally to at the end of this bull cycle thanks to these ETFs. How The Litecoin ETFs Could Drive LTC’s Price To $800 In a TradingView post, EXCAVO highlighted the Litecoin ETFs as one of the factors that could drive LTC’s price to $800 at the end of the cycle. He noted that Litecoin is just a fork of Bitcoin, and there is not much technology in it. However, he added that a decentralization and adoption issue is occurring, making LTC....
Needham & Company, LLC, an investment banking and asset management firm, just bumped the estimated value of bitcoin from $655 to $848, due to faster than expected adoption and improving fundamentals, according to Money Morning. The new estimate, an analysis of the Bitcoin Investment Trust (BIT), follows Needham’s original bitcoin price prediction in March. Spencer Bogart, the author of the September 22 report, said the revised estimate is based on a faster-than-expected adoption and improving fundamentals. In addition, planned improvements to the bitcoin protocol also bodes well for....
Bitcoin price is pushing toward its three-month resistance ceiling. Technical and sentiment analysis argue for a return to decline, and fundamental analysis shows that Bitcoin’s value is more fragile than many realize. Friday’s technical analysis concluded that the outlook for bitcoin price is bearish while price fails to break above the prevailing resistance ceiling (blue down-sloping line in the chart). Going forward, technical analysis will be informed by the position of price in relation to this ceiling: if the market can successfully trade price above it, we can expect continuing....
Bitcoin price has been drawing sideways near 1500 CNY and $242 during the past 24 hours. At the time of writing a wave to the upside is developing but it looks suspicious. This analysis is provided by xbt.social with a 3 hour delay. Read the full analysis here. Not a member? Join now and receive a $29 discount using the code CCN29. Price Analysis. Time of analysis: 16h39 UTC. BTC-China 15-Minute Chart. Why The Preference For BTC-China Charts In Analysis? From the analysis pages of xbt.social, earlier today: Clearest in the BTC-China chart, there are buying spikes that may herald a move....
A deeper dive into bitcoin’s fundamentals and recent market trends shows that the price bull run is nowhere near its top.