How The New Rally Improved Bitcoin’s Upside Potential
Recently, bitcoin’s price grew more than 50 percent in less than a month before taking a dip. What goes up comes down, how does the rally affect the bitcoin ecosystem? Bitcoin.com asked Spencer Bogart, Equity Research analyst at Needham & Company, his opinion on the recent bitcoin rally. Bitcoin’s Rally Likely Means More Upside. Analyst Spencer....
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The selling pressure in the Bitcoin market is not as bad as it was during the Terra and Three Arrows Capital crises. Bitcoin’s (BTC) price may climb by more than 50% in September, a month otherwise considered ominous for the cryptocurrency due to its poor historical returns. BTC price double-bottom and then to $30K?The conflicting upside signal comes from a potential double-bottom pattern on Bitcoin’s longer-timeframe charts against the United States dollar. Double-bottoms are bullish reversal patterns that resemble the letter W due to two lows and a change in direction from downside to....
Bitcoin’s price has been fairly stagnant throughout the past few days, with its recent rejection at highs of $28,500 kicking off a short-term consolidation phase Where the crypto trends in the mid-term may depend largely on whether or not bulls can invalidate these highs as a potential “blow-off top” There has been speculation that the swiftness of the rally and rejection confirmed the bear-favoring pattern, but BTC’s resilience in the time since is a promising […]
Through adoption, price increases and more, Bitcoin’s 2020 improved the certainty that bitcoin will become the global reserve asset. The post Bitcoin’s 2020: The Rise Of Certainty appeared first on Bitcoin Magazine.
Measuring assets’ value in terms of time can help us understand why Bitcoin’s potential upside is so much greater than that of stocks.
In March, few expected Bitcoin to be in the place that it currently is in. The coin is up over 200% since the lows of March, showing that the crypto market is far from dead. Back at the lows, there were some that feared that cryptocurrencies wouldn’t be around for much longer. Bitcoin’s ongoing rally was predicted by some analysts, though. One such analyst predicted the cryptocurrency would retest $10,000 by May, just months after […]