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$8,350 is the mark Bitcoin (BTC) needs to assure to reattain bullish runs

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Price recovery for Bitcoin (BTC) and other coins is a thing that we as crypto enthusiasts were anxiously expecting for an extended period of time. Nevertheless, the wait paused for a while not so long ago as the market started to show some bullish moves and prices started to take a positive path one more time. In this sense, as it was to be expected amongst the coins that started the uptrend, it was, of course, the king of the sector Bitcoin (BTC), a crypto that managed to surpass the $8,500 mark in just a couple of days.

The results that the leader of the sector happened to achieved were actually astounding, a fact that immediately had a reaction by part of the community.

However, in the last couple of days, this bullish run has started to decrease slowly (yet again), and many are just wondering how will be the future days for the coin regarding price and performance. Are we looking at a situation where the uptrend is being reversed? This post responds to this question and others related to it.

The mark of the 8,350 dollars

According to technical indicators, Bitcoin (BTC) may actually regain its momentum with prices above the mark of the $8,350. Let’s recall that as this month started, the crypto leader lost impetuosity and got back below the level of 8,000 US dollars, a fact that created a cloud of doubts regarding the chances of the coin to be reversing the uptrend. Right now, during the last 60 hours the coin is yet to start its climb and trading in red, so how can we read this information?

Well, it results clear that the price of the token has not found a consolidation point yet. Still, this has resulted in the annulment of the bullish trend as per many crypto pundits, but regarding price analysis, this even doesn’t mean a reversal is on the way. In addition to this, there are reasons to believe that the $250 trading range may break and enter an upside turn, which in case of affirmative, would result into a generalized intention to buy by part of investors and enthusiasts.

At the moment of writing, Coinmarketcap indicates a price of $7,553 for the crypto, a trading volume of $4,509,240,818 in the last 24 hours and a decrease of -0.34 percent considering the same time yesterday.

Indicators

Just before this month started, most of the moving averages were oriented towards an upside trend for Bitcoin. In fact, the 50-candle, 100-candle, and the 200-candle MA were located parallel to the other in a north direction. The same way, the Relative Strength Index (RSI) stopped showing an overbought setting, which means there are substantial chances to see peaks above the recent highs of $8,500.

To conclude, a break above the $8,350 mark would represent the possibility of entering to a re-test phase between the Bitcoin price of $8,468 and the peak of July 24 of 8,507 dollars. Consequently, a bullish run would be confirmed with a daily close above the mark of the 200-day MA.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Maxpixel.net

Altcoins

SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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Investors Beware: Another Large Bitcoin Crash Might Be Coming

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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Top 3 Coins to Buy Before They Go Big

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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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