Bitcoin price holds $20K, but analysts say ‘expect 6 months of sideways’ pric...
BTC bulls are holding $20,000, but most traders are confident that the price will remain range-bound for at least six more months. Trading across the cryptocurrency market was relatively subdued on July 5 as the ecosystem continues to digest the fallout from the Three Arrows Capital scandal and Voyager Digital announcing that it has filed for Chapter 11 bankruptcy protection. Data from Cointelegraph Markets Pro and TradingView shows that the price of Bitcoin (BTC) has spent the day oscillating around the $20,000 support level, ranging from a low of $19,775 to an intraday high of $20,480 on....
Related News
Well before the coronavirus pandemic, global economists expected a grim-looking American economy and during the last ten months of the Covid-19 outbreak, the U.S. financial system looks even worse. Economists and analysts say the biggest concern is the U.S. dollar faltering into the unknown, as a great number of distinguished individuals believe the USD will see a significant value decline in 2021. Moreover, renowned economist Stephen Roach thinks there’s more than a 50% chance the U.S. dollar could collapse by the end of next year. The U.S. dollar currency index (DXY) has continued....
Despite a recent drop — about two dollars since our last article — the bitcoin price has remained relatively still. The sentiment among analysts is that bitcoin is preparing itself for a hefty move in the coming weeks, but still needs a little more time to warm up. Bitcoin Price Still Prepping for Big Move, Analysts Say. One source explains: “Bitcoin price pulls lower toward horizontal support near $560. The outlook remains that the market is engaged in a sideways base formation prior to advance. Price is returning to the consolidation floor today, and we watch to see if the support zone....
Bitcoin has stagnated at the local highs around $10,700 over the past few hours and days. The leading cryptocurrency remains below the highs it set last week prior to the BitMEX news breaking. Analysts are still optimistic about the cryptocurrency despite the ongoing stagnation and relatively weak price action. Bitcoin is expected to move $11,200 in short order if it holds $10,500, some analysts say. BTC investors have long found the $10,500 level important. For […]
Ethereum has undergone a strong rally over the past 48 hours as the crypto market has bounced back from the weekly lows. The price of ETH currently is $473, up 5% in the past 24 hours alone. Analysts expect further gains as the asset looks poised to close a daily candle above $482, which should trigger a move above $500. Ethereum Set to Explode Past $500, Analysts Say Ethereum has undergone a strong rally over […]
Bitcoin underwent a rapid correction last evening after the coin pressed as high as $18,500 on leading exchanges. Even still, analysts remain optimistic on the leading cryptocurrency. One trader said that since Bitcoin managed to hold key support levels despite entering the low-$17,000s twice in the span of a few hours, it could move to new highs. Bitcoin Holds Key Support Levels Bitcoin underwent a rapid correction last evening after the coin pressed as high […]