Bitcoin could undergo a strong correction in the weeks ahead as it forms a bearish short-term to medium-term outlook. This is compounded by a futures market positioning “overhang” noted by JP Morgan analysts. Historically Accurate Analyst Fears a Strong Bitcoin Drop Bitcoin could undergo a strong drop towards $10,000 once again, says the trader who in the middle of 2018 predicted the bottom price to a 1.5% accuracy. The analyst noted that the cryptocurrency is […]
An optimistic forecast for gold is making Bitcoin equally bullish, thanks to its erratically positive correlation with the crypto. Gold Boom Ahead Frank Holmes, CEO of US Global Investors, told Kitco News that the gold market is forming a bottom. Simultaneously, the analyst maintained his upside target for the precious metal at $4,000 in 2020 despite the fears of uncertainty around November’s US election and the second coronavirus stimulus package. “The bottom that you’re seeing […]
Crypto predictions are on the rise with the recent bull run that saw the price of bitcoin surge past $50,000 again. Now, Market analyst Mike McGlone lays out the path of Bitcoin and Ethereum hitting new highs that would see them both at least go up 100% from their current price points. In the most recent release of the Bloomberg Indices Outlook Crypto, McGlone puts bitcoin on course for $100,000 and Ethereum at $5,000. Related Reading | Venture Capitalist Bill Gurley Takes Personal Position In Ethereum, Here’s Why This comes from a revived bull market that began as the second quarter....
Uniswap’s governance token – dubbed UNI – has been struggling to form a long-term bottom, as each rally results in it seeing significant selling pressure that stunts its growth and leads to further downside. This has led to the token seeing choppy price action, which has generally favored sellers. Bulls are now trying to slow […]
Bitcoin price is likely forming a double bottom pattern near the $42,150 zone against the US Dollar. BTC is showing positive signs and it could climb towards $47,000. Bitcoin is finding a strong buying interest above the $42,000 and $42,150 support levels. The price is still trading well below $47,000 and the 100 hourly simple […]