From FOMO To Overbought: Why Bitcoin Is Overdue For A Steep Correction
FOMO has returned to the crypto market in a major way, now that Bitcoin has set a new all-time high price record. But as more buyers pile in after an already nearly 200% rally in 2020, indicators are reaching extreme readings of overbought conditions, that nearly every time in the past has resulted in a […]
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JPMorgan’s analysts have warned about the odds of a bitcoin correction which would increase if the flows into Grayscale’s bitcoin trust slow significantly. The analysts indicated that bitcoin is “overbought.” JPMorgan Reveals Bitcoin’s Outlook The analysts at JPMorgan Chase & Co. gave their bitcoin prediction in a note on Friday. They explained that flows into Grayscale’s bitcoin trust are key to the outlook of the cryptocurrency, Bloomberg reported Monday. According to the publication, the analysts believe: The odds of a bitcoin correction would....
An unapologetically bullish Bobby Lee takes to mainstream media to dispel any hint of doubt about what’s next for Bitcoin price action. Bitcoin is long overdue for a “FOMO rally” to new all-time highs that could touch $200,000 or more, say one of its oldest investors.In an interview with Bloomberg on Sept. 29, Bobby Lee, former CEO of exchange BTCC, cast aside any suggestion that the price of Bitcoin (BTC) was in trouble.Lee: Bitcoin has been due for next rally “for a long time”One of an increasing number of sources staying bullish on Bitcoin for Q4, Lee — who went on to found wallet....
Bitcoin faced an extremely steep correction on Sunday and Monday after last week’s surge to new all-time highs. The cryptocurrency fell as low as $30,000 after peaking at $42,000 last week. A large portion of Bitcoin’s drop was apparently a byproduct of Coinbase’s downtime, Willy Woo says. Monday’s Bitcoin Correction Bitcoin faced an extremely steep correction on Sunday and Monday after last week’s surge to new all-time highs. On Monday morning, the cryptocurrency plunged as […]
Ripple, Enterprise blockchain and crypto solutions provider has partnered with FOMO Pay. FOMO Pay is a leading Singapore-based institutional digital payment solution provider and has become the latest firm to unify with Ripple’s liquidity solution. Through this integration, FOMO Pay is planning on using Ripple’s crypto-enabled enterprise technology which is supposed to enable its cross-border […]
Bitcoin price gave in to overbought conditions and is in the middle of a large correction to an area of interest. Bitcoin Price Key Highlights. Bitcoin appears to have hit a ceiling at the $775 mark, making a break below a short-term consolidation pattern and moving towards the nearby support. Price is now trading below the $700 mark and could head further south until $650, which is close to the 38.2% Fibonacci retracement level and a former resistance. A bounce off this correction area could allow bitcoin price to resume its climb to the recent highs and beyond. Technical Indicators....