Here are the Key Technical Factors that Could Determine Bitcoin’s Future
Bitcoin is currently caught within a consolidation phase following its intense decline from highs of $11,200 last week. The cryptocurrency has been drifting lower ever since, but bulls were able to defend against it seeing any serious downside earlier today when they propelled it off of its $10,200 lows. The rebound here was significant and […]
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Bitcoin’s market capitalization has exceeded $20 bln, and the daily volume of trade continues to rise. The cryptocurrency has reached an all-time high in price, climbing above gold, revealing an upward trend that as technical analysts forecast will continue. A typical characteristic of investors and adopters of any given innovation is the desire to be able to predict what both the short and long-term future holds. In order to predict the future of Bitcoin, certain factors must be considered and properly analyzed. These factors include historical events that may have prompted the prevailing....
The volatility of Bitcoin is forecasted to reach a similar level as other current fiat currencies by 2019, says a new study by Chappuis Halder & Co. It looked into whether the digital currency’s price can be forecasted like any other asset. Meant to create a model that is able to predict Bitcoin’s price behavior or be able to identify its future values within a confidence interval - as it exists today for other assets - the paper aimed at understanding the behavior of Bitcoin’s price. It gave an overview of its mechanics and that of the Blockchain technology before explaining internal....
In an interview with Bloomberg, Kraken CEO and founder Jesse Powell gave a perplexing prediction of Bitcoin’s future value: “When you measure it in terms of dollars, you have to think it’s going to infinity.” Powell was quick to justify his comment by painting a future where instead of comparing Bitcoin to fiat currencies in order to determine the value of an item, prices are considered solely in Bitcoin: I think pretty soon people are […]
Chinese policy has a massive impact on Bitcoin price, trading volume, and perceived legitimacy – but as the government’s policy on digital currencies is ambigious, Bitcoin’s future in China remains uncertain. The US-China Economic and Security Review Commission reached this conclusion in a research brief published earlier this week. The report examined Bitcoin’s history in China, documenting the evolution of Chinese official (and actual) attitude toward Bitcoin and exploring some of the factors for its popularity – and potential for the future. Here are five things the USCC report said....
Technical Analysis is a method for analyzing price through the study of historical data primarily focusing on price and volume specific to the market. Contrary to fundamental analysis, technical analysis is purely quantitative and does not account for a company’s intrinsic value. It utilizes previous prices and trading action to identify patterns within....