Analysts Expect Bitcoin to Rally to $19,000 Next Despite Spike in Funding
For the first time in weeks, Bitcoin saw a massive selloff yesterday evening that caused its price to reel to lows of $17,400 These lows came just over an hour after the cryptocurrency hit highs of $18,600, with this marking a fresh post-2017 high Where the entire market trends in the near-term will depend largely on how Bitcoin continues trading in the time following this selloff Bulls were able to push BTC back above $18,000 […]
Related News
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 price hit a new 2020 high at $16,765, and traders expect a much larger rally to occur in the near term. The price of Bitcoin (BTC) hit a new yearly high at $16,717 on Binance. Following the breakout, traders expect a larger rally to occur in the near term.There are several reasons why analysts expect a prolonged uptrend. First, Bitcoin cleanly broke out of $16,000, taking out the $16,473 peak achieved on Nov. 13. Second, there is a “sell-side crisis” brewing as more BTC gets accumulated than mined. Third, BTC rallied despite indicators showing overbought signals.BTC/USD 1-hour....
Bitcoin has undergone a drop since the local highs of $19,000. The coin currently trades for $18,500, though traded as low as $17,500 earlier today. The bounce has surprised many analysts, who thought that Bitcoin would sustain a deeper correction into the $15,000-16,000 range. Yet this bounce has come at a cost: the funding rates […]
Analysts think that Ethereum is primed to press higher despite last night’s $40 drop. One analyst noted that Ethereum remains in an extremely advantageous position on a macro time frame. He shared a chart showing that ETH is currently sitting above macro supports, meaning it has room to stretch toward $800 and beyond as it continues to hold those technical levels. Ethereum Could Move Toward $500 Analysts think that Ethereum is primed to press higher […]
Bitcoin’s recent consolidation phase has come about concurrently with traders stacking up on short positions This indicates that they expect the turbulence within the traditional markets to continue suppressing BTC’s price action, potentially leading it lower in the weeks ahead That being said, this has caused negative funding rates to surge as of late, making it costly to be short Historically, funding rates – when slanted towards one direction for extended periods – work as […]