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Bitcoin Ethereum Roundup: Bitcoin Deja Vu - Global Coin Report
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Bitcoin

Bitcoin Ethereum Roundup: Bitcoin Deja Vu

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Bitcoin Ethereum
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As we start Monday, September 17th, it certainly feels like deja vu for me. We keep seeing the same Bitcoin price of 6100 to 6500 that we have seen all year. This is where Bitcoin has spent the majority of 2018. While some are disappointed, I look at as a positive. Bitcoin has been able to retain value and a floor looks to have been established. The shorts had the opportunity to push the price down when Ethereum was under $180 and Bitcoin held its own. Furthermore, talking to guys on the OTC desks and the feedback that I am getting is that there are a lot of shorts covering around the 6100 level and many buyers come out of the woodwork.

Looking at the Daily Chart (I post the BitMex price because that’s where I trade to take advantage of leverage opportunities) and you will see the wedge getting tighter. We are going to see a breakout one way or another. While I think it will be to the upside, we cannot rule out the downside, especially when I look at the 4-hour chart.

My only concern right now is time. If you look at the 4-hour chart, we’ve been hovering near resistance of 6500 for quite a while. We’ve had 2 momentary selloffs where the stops were run. Lows of 6350 and 6330 came into play. What I am looking at on the downside is the 6100 double bottom on the 4-hour chart. If we take the 6100 out, the downside can get pretty aggressive and we might see fresh lows for the year.

Ethereum

Ethereum has had a nice bounce off the lows and has run into resistance at 230. At the time of this writing, Ethereum is trading at 215. As long as we hold above 200, we should be alright. The market consolidating above 200 is a positive and believe we have seen the lows. I could be wrong, but I have wagered accordingly and I’m long Ethereum.

As you can see from the 4-hour chart above, the market is straddling the 220 level in much the same way that Bitcoin is straddling the 6500 level. The market is consolidating and there is a lack of momentum from the bulls or the bears to press prices.

When there is a lack of momentum, I call this the neutral zone. If one doesn’t already have a position, best off staying on the sidelines. Let the market find it’s direction and then jump on it.

Bottom line

I just want to stress that no one truly knows where crypto prices are heading. Price predictions are just hot air and noise. Ignore it! Focus on the market and the price. While I am do believe the lows are in and we are above those lows, that doesn’t mean I will be correct. The market can turn on a dime and we could be plunging. If that happens, I will be stopped out and look to possibly go short or I will wait and look to buy at lower prices. I have to watch the market and that will determine my next moves. Right now, I am long but nervous. Stops are in place. Trade accordingly.

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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. This author is long Bitcoin and Ethereum. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Bitcoin

Why Bitcoin (BTC) Revival is Likely to Continue

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Bitcoin (BTC) revival
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The cryptocurrency market has been doing rather well in 2019 — certainly much better than in 2018. More than a year ago, the market crashed from its all-time high, and in the months that followed, it lost over 80% of its market cap. Bitcoin (BTC), as the leading digital currency, also dropped from $20,000 per coin to barely $3,200 in 2018.

These days, however, the situation seems to be turning, with digital currencies seeing significant growth in prices ever since mid-February. While January stopped the drops, February is the month when the market once again started seeing gains, and this kind of behavior has continued to this day. But, what does this mean for the future? Is this a passing trend, or is the crypto winter truly over?

The revival of Bitcoin

Questions such as the short-term future of Bitcoin are on many traders’ and investors’ minds right now and have been ever since the prices started growing again. A well-known Futures Now trader, Jim Iuorio, recently stated that Bitcoin would start seeing massive profits if it surpasses the price of $4,045. That was, of course, before the coin surged by around $1000 in the last week.

However, Iuorio’s prediction was that BTC is unlikely to go below $3,820, while the growth beyond $4,045 would mean massive gains for those involved with the industry. Soon after this prediction…

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Bitcoin

How to Become a Millionaire without Risking Everything with Bitcoin

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It’s been well over a year since the crypto market reached its peak and then crashed, dropping to such lows that most of the coins lost anywhere between 80% and 95% of their value. A few of them lost even more. Of course, this was not enough to eradicate the crypto market, and the bulls are still as optimistic as ever, especially these days, when Bitcoin price surges again, taking the rest of the market with it.

Some predictions claim that Bitcoin will reach its own glory days within a year or two, and there are even speculations that the largest cryptocurrency might spike up to $100,000 per coin. One claim from last week even sees BTC hitting $400,000, as the highest price which someone was brave enough to predict.

While it is certainly possible — at this point, pretty much anything is — not everyone is willing to take such a gamble and invest their hard-earned money into a risky asset such as digital currencies. With that in mind, here are three alternatives that are considerably safer than Bitcoin and the altcoins.

1. Investing and re-investing in stocks

A lot of people — especially younger generations — find stocks to be incredibly boring. Most of the time, all you do is invest, and use the returns for re-investing in high-yielding shares. However, while boring will not…

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The Best Time to Buy Bitcoin (BTC) Approaches

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Ever since 2019 started, the bear market of 2018 has been losing momentum, with the bulls emerging numerous times in short intervals. This was the beginning of a crypto recovery, which still has quite a long way to go.

However, last week, Bitcoin saw massive growth in transactions, reaching a 14-month high. These were the levels that were previously seen back in 2017, as BTC approached its highest point in terms of price. The growth also reflected strongly on BTC price, which spiked yesterday from around $4.100 to the current $4,672.

Meanwhile, Bitcoin market cap followed as well, currently sitting above $82.3 billion, while the trading volume exceeded $14.5 billion.

What caused the growth?

While this is an exceptional growth, and potentially a start of the bull run that everyone was waiting for, it did not come without a cause. One of the reasons why BTC surged was last week’s Weiss Ratings report of multiple different cryptocurrencies. The report’s authors even stated themselves that the best time to invest might be very near at this point.

Weiss Ratings has done reports about specific coins in the past as well, and this time, they noticed a significant improvement in coins’ performance. The report mentions growth in user transaction volume, network capacity, as well as network security, which the authors took as an improvement coming from the evolution of the…

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