Bitcoin Weekly Outlook: A $20K Retest Likely as Dollar Hits 2018 Low
A remarkable rebound this weekend has put Bitcoin back en route to $20,000, its record high to date.
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Bitcoin was able to pare a significant portion of the losses it incurred last week due to a strengthening dollar sentiment. And now, the benchmark cryptocurrency is looking to continue its upside momentum based on a favorable fundamental outlook in the new week. BTC/USD was up 1.05 percent to $10,891 during the early morning trading session on Monday. Its latest uptick appeared as buyers tried to slow down in the US dollar market. A trade […]
Key XRP Outlook XRP almost hits $1.5 for the first time since January 2018. The upside boost comes in the wake of small legal wins for Ripple Labs as it battles the US Securities and Exchange over a lawsuit. Technically, the Ripple token has climbed to overvalued levels, requiring a neutralizing price correction. XRP, the de-facto settlement token atop the Ripple blockchain, has become traders’ eye-candy all over again after a series of blunders. The […]
Bitcoin bulls with a long-term outlook should hold onto their upside positions even as the cryptocurrency plunges lower. It is because the BTC/USD exchange could still resume its uptrend towards $16,000, a level it last touched in January 2018, says an independent analyst who operates under a pseudonymous identity. He nevertheless warned that the pair […]
A familiar tale of losing stocks and a surging greenback greets Bitcoin traders this week as $20,000 fails to sustain as support. Bitcoin (BTC) heads into the first week of September on a rocky road downhill after United States markets’ Jackson Hole rout.After the U.S. Federal Reserve reinforced hawkish comments on the inflation outlook, risk assets sold off across the board, and crypto is still reeling from the aftermath.A fairly nonvolatile weekend did little to improve the mood, and BTC price action has returned to focus on areas below $20,000.In so doing, multiple weeks of upside have....
In the short-term, supporting the upside outlook is the uncertainty led by a rising number of coronavirus infections in the US.