Global Desire for Change Positions Bitcoin for Imminent Surge in Price
The global desire for change seems to be growing. It looks like the people just want something different, no matter what. These recent developments have coincided with the recent rise in Bitcoin price and awareness. Examples include events such as Brexit, the U.S. elections and even the general elections in Nigeria, after which Bitcoin awareness has become overwhelming in the African nation. “History has shown us many times that when the economy and the official currency have struggled, people were seeking alternatives,” says Alena Vranova, co-founder and CEO at SatoshiLabs. With the....
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Bitcoin price is stalling but appears to simply be pausing from its recent dive to gather more momentum. Bitcoin Price Key Highlights. Bitcoin price is still stuck in tight consolidation for now in what appears to be a bearish continuation pattern. Price is hovering safely above several support levels but another push lower could be due, given the recent trend. A change in market sentiment, however, could spur a bounce back to the near-term resistance. Technical Indicators Signals. The 100 SMA is still above the longer-term 200 SMA on this time frame, suggesting that bulls could still push....
Derivatives data shows Bitcoin whales added to their leveraged positions after BTC price topped out at $42,600. Bitcoin (BTC) might have failed to sustain the $42,000 support, and for many, this is a slightly bearish sign. Interestingly, the downward move occurred shortly after Saudi Aramco, KSA's largest oil exporter, denied claiming to start mining Bitcoin.Top traders at exchanges seized the opportunity to add leverage-long positions, a clear bullishness indicator. Furthermore, margin traders have been increasing their stablecoin borrowing, indicating that whales and professional traders....
April was a good month for Bitcoin’s growth. But now its price has reached a point, where that situation may change. The last month of Spring can turn out beneficial to the bears. When is the trend most likely to change? After breaking through all key medium-term levels, Bitcoin’s price has reached the long-term resistance line. As we have said many times before, usually a rebound follows after such patterns. The price becomes “expensive” for medium-term buyers which causes them to close their positions to secure profits and the long-term sellers in turn buy those positions out. Whether....
If you’ve acquired some bitcoin, it’s possible you may find yourself wanting to sell. This may be due to a personal change in your financial situation, a desire to get some BTC in the hands of more people or an opportunity to sell at a price increase (in the hopes of buying more bitcoin later, of ...
After days of underperformance, Ethereum’s price is finally catching up to that of Bitcoin The second-largest digital asset saw a massive overnight rally that led it all the way up to highs of $415 before it found any resistance This surge marks a notable climb from its recent lows of sub-$370 that were set just a few days ago It has also reinvigorated altcoins, with ETH’s uptick in price allowing many smaller assets also to […]