Bitcoin At $20K Could Be ‘New Bottom,’ Commodity Expert Suggests, And Here’s Why
Bitcoin has been increasingly in a shaky state and has dropped by as much as 50% compared to its previous all-time high. All eyes are on the crypto alpha dog, watching its next price movements. On the other hand, many market analysts believe that the drop in BTC trading value is a jumping board towards massive growth. As a matter of fact, Mike McGlone, Bloomberg Intelligence Senior Commodity Strategist, on his recent tweet, said that the crypto’s plunge is normal as the coin is still trying to get the hang of it as it faces a massive test. Suggested Reading | ‘Original....
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Crypto expert Duncan (@FloodCapital) recently expressed a strong conviction that Bitcoin has reached its market bottom and is poised for new all-time highs. His analysis, shared on X (formerly Twitter), provides a detailed examination of the current market dynamics and underlying fundamentals that signal a bullish turn for Bitcoin and potentially other cryptocurrencies. Is The Bitcoin Bottom In? In his in-depth analysis, Duncan pointed out that the crypto market has been underperforming relative to equities over the past few weeks. This trend was a concern until a pivotal development....
Every financial regulatory body around the world seems to be trying to wrap their heads around Bitcoin and its underlying blockchain technology these days, and the Commodity Futures Trading Commission (CFTC ) in the United States is not immune to this trend. Simply defining bitcoin as an asset has proved to be a difficult task for many regulatory agencies around the world, as some claim it is a commodity while others view it as a currency . The CFTC ruled that bitcoin is a commodity in late 2015. To gain a better understanding of Bitcoin, the blockchain and other distributed ledger....
Ethereum is finally coming back to life after a long period of consolidation and leading the current bullish momentum in the crypto top 10 by market cap. The slow price action might be boring for most market participants, but an expert believes ETH underwent a critical stage to create a lasting bottom. Related Reading: Bitcoin Surges To A 6 Weeks High While Crypto Market Cap Tops $1 Trillion At the time of writing, Ethereum (ETH) trades at $1,550 with sideways movement over today’s trading session and a 20% profit in the last seven days. The meme coin records a 30% profit over the....
A new technical analysis suggests that the crypto market, which includes altcoins like Ethereum (ETH) and Dogecoin (DOGE), is about to experience a major altcoin season that could last 217 days. If critical support levels are maintained, the analyst suggests that we may finally see the long-anticipated altcoin season. Ethereum And Dogecoin To See An Altcoin Season Soon Sporia, a TradingView crypto analyst, has shared a detailed technical analysis of the altcoin market. The analysis highlights key indicators within the Total2 chart, which represents the total crypto market cap excluding....
A shariah compliance expert, the current chairman of the Shariah Advisory Council at Malaysia’s central bank and a shariah board member at many financial companies, says that cryptocurrency is a legit commodity that can be exchanged. Cryptocurrency and Shariah Compliance Cryptocurrency adoption and investments remain low in Muslim countries as people are still unsure of its compliance with Islamic law. At the SCxSC Fintech Conference 2020 last week, Datuk Dr. Mohd Daud Bakar, an expert in shariah compliance, said that investors need more time to understand cryptocurrency from the....