|Bitcoin (BTC) Takes a Leap Above $9700, Price Recovery On-the-Go
Bitcoin attempts to come out of the bearish loop, takes a leap towards price recovery, trades above $9700.
BTC price surges above its major support level of $9300 and $9500.
If BTC price takes a bullish crossover, it will face resistance at $10,000 and $10,200 price level.
Bitcoin attempts to come out of the pale trading zone. It exhibits a bullish crossover at present. Bitcoin trades over the rigid support it built near $9100 and $9300, yesterday. Inevitable to note that the coin has been signaling towards having a bullish price recovery. With this, the other two major coins, viz., Ethereum, and Ripple, also manifest a growing figure today.
Bitcoin Price Prediction
Bitcoin Price Chart
As observed from the above 1-day chart, BTC price exhibits a bullish trend. The price has shown enough recovery of 4.1% from trading at $9385.21 to currently trading at $9770.79 at 07:00 UTC as on 31st July. The Market Cap of the coin also exhibits a notable increase from previously ranging around $170 billion to currently being above $175.2 billion. Yesterday, the price was hovering in the range of $9300 to $9700. But today the coin has started the day with an escalation and bounces to trade above $9700.
With the overwhelming of the positive signals, the coin is likely to fetch great returns on the investments after clearing the resistance at $9800. However, this successful breach above $9500 should stay in order to have positive returns.
The technical indicators portray a better picture today as the coin comes out of the bearish zone after a long wait.
The MACD of the coin rises above the negative sentiment and trades with bullish divergence.
The current trading price of the coin has moved ahead of its 5-day SMA ($9573.71) and is awaiting to breach the 20-day SMA ($10,170.75) in order to have a total recovery of the losses incurred in the past bearish phase.
The RSI of the coin is above 50, showing no extremities.
With this, the coin is expected to trade around $15,000 to $20,000 by the end of the year if the current surge is a bullish divergence.
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Mehak Punjabi: Mehak Punjabi is a post graduate in MBA with specialization in Finance and has joined CryptonewsZ with a skill building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.
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Aug-1-2019 03:08:33 PM
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Aug-1-2019 03:06:26 PM
|Top Crypto Markets Report Losses, Bitcoin Hovers Around $11,000
Friday, July 5 — the top-20 digital currencies by market capitalization are trading in the red zone, with only Chainlink (LINK) seeing daily gains, according to data from Coin360
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Bitcoin has become less correlated with other cryptos in Q2 2019 due to a potential “flight-to-quality” in the recent bull run, according to a Binance report on crypto correlations released today. Average correlation between bitcoin and all other major crypto assets declined to 0.61 from 0.73 in Q1 2019.
Jul-7-2019 01:54:18 AM
|Bitcoin is the future; Fiat is Past – (Tim Draper, Venture Capitalist)
In 2014 with bitcoin at only $413, popular VC, Tim Draper predicted bitcoin to reach $10,000 in three years. This was fulfilled a month earlier than he predicated earning him a reputation among crypto fans. Though he didn’t categorically, predict a $100k Bitcoin in 2018, He said he expected the Bitcoin to continue its growth in an interview with Bloomberg last year. Tim Draper has made successful bets with Tesla, Skype, and Twitter in the past.
Dec-9-2018 01:11:28 AM
|Volatile Bitcoin to touch $50,000 – Jeet Singh (cryptocurrency portfolio manager)
Speaking in January at the World Economic Forum in Davos, experienced cryptocurrency fund manager, Jeet Singh predicted that the price of Bitcoin will go as high as $50,000. He warned of heavy price fluctuations which he believes is only normal for a Bitcoin market that is still maturing.
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|Expect stability only after 10 years – Kristjan Dekleva (Hedge)
The Swiss-based financial expert will have us brace up for a decade of turbulence before any hope for a stable bitcoin. This he suggests will coincide with a general acceptance of Bitcoin even in hard-stance China. This though, not as a fiat replacement but a viable alternative.
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|Surely, Bitcoin is headed up – John McAfee
John McAfee, Bitcoin supporter and founder of the popular McAfee antivirus software, is being very positive about Bitcoin. He predicted that Bitcoin price will hit $1 million by 2020 following last year’s prediction of $7000 which was well surpassed.
Dec-9-2018 01:07:32 AM
|Llew Claasen: Bitcoin will hit $40,000 and 90% of the cryptocurrencies will fall
Llew Claasen: Bitcoin will hit $ 40,000. Llew Claasen who is the executive director of Bitcoin foundation recently stated that he expected Bitcoin to hit $40,000 by the end of this very year. He further added that 90% of the cryptocurrencies will actually fall.According to him, Bitcoin will be trading around $ 40,000. He further added that there will be a significant amount of volatility before Bitcoin actually hits those levels. It seems like, many of the investors, as well as cryptocurrency enthusiasts, are actually positive about Bitcoin in this very year. The problem is that with a significant fall already seen, most of the retail investors are not pumping money into Bitcoin. This is the reason why the movement is not that strong currently when it comes to Bitcoins.
Dec-9-2018 01:05:50 AM