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Here Is How Bitcoin (BTC) Will Recover

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Recent comments by Ran Neu Ner, founder of OnChain Capital, and host of Cryptotrader on CNBC Africa indicate that we could be headed to Bitcoin (BTC) levels that will be as low as $5,900. Neu Ner was quoted as saying that the problem is not with the recent hacks on Coinrail or the investigations on 4 popular exchanges by US Authorities. He believes that there is simply no demand for Bitcoin right now. Of course, he is just one opinion while other experts have different takes.

Neu Ner would also comment that the current levels of Bitcoin will not matter if the digital asset will be valued at 20 to 80 thousand dollars in a few years. The ones worried about the current value of the King of Crypto are the day traders and those who specialize in scalping.

Scalping is a trading style specializing in taking profits on small price changes, generally soon after a trade has been entered and has become profitable. It requires a trader to have a strict exit strategy because one large loss could eliminate the many small gains the trader has worked to obtain.

Away from the comments of Neu Ner and observing the behavior of Bitcoin (BTC) in the month of April, we find that there was a similar decline that bottomed out around the 1st of April. On that same date, Bitcoin was valued at a new low of approximately $6,500. The coin would later bounce back within a month and was valued at $9,600 by April 25th and $9,900 by the 5th of May this year.

Fundstrat CEO, Thomas Lee, has continually stuck to his price prediction of $25,000 per BTC by the end of the year. Mr. Lee is keeping an eye on the institutional investors who will jump into the crypto-markets as soon as regulatory guidance is given by primarily the SEC of the US.

Mr. Lee was quoted as saying:

“I think institutional investors have gained a lot of interest, and they haven’t really come into crypto yet because there is still some regulatory uncertainty. But that sort of ultimate allocation into crypto as an asset class is going to be a powerful reason why bitcoin rallies.”

Recent news indicates that the country of Thailand, through its very own SEC, has officially recognized the seven cryptocurrencies of Bitcoin, Ethereum, Bitcoin Cash, Ethereum Classic, Litecoin, Ripple, and Stellar. The reasons given by the government organization is that these cryptocurrencies have been collectively agreed by the crypto community as being credible and at the same time, the digital assets are highly liquid/available.

This means the time is nigh for regulatory direction in the major countries of the United States, Canada, Russia, United Kingdom, Japan and South Korea. Once these countries give some form of direction, the institutional investors will not mind being part of the crypto-verse. They will, in turn, cause a resurgence of interest in Bitcoin (BTC) that will propel it to greater heights.

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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.

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Bitcoin

The Bitcoin Revolution: Everything You Need To Know To Take Profits

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Bitcoin is soaring high in the cryptomarket once again, and experts are expecting a return of the bullish trend of 2017. The current Bitcoin price is $7,615 as of 23 May 6:56 AM UTC. This significant jump comes just six months after the Bitcoin price plummeted to a low of $3150 in December 2018. Since then, Bitcoin has experienced steady growth and gain in the market. However, in the last 30 days, the Bitcoin price peaked to $8,320.82, its highest price ever. This phenomenal jump occurred in a span of only 10 days breaking the Bitcoin record so far of significant gains made in short time frames. This positive growth has led to experts forecasting the Bitcoin price to hit the $20,000 mark by the end of this year.

Since entering the market almost 11 years ago, Bitcoin is still at the top of the global cryptocurrencies list. The current circulating supply of Bitcoin is at unbelievable 17,708,875 BTC. The market trend of the Bitcoin price has remained positive even when the currency did not maintain an uptrend. Cryptocurrency researchers believe that Bitcoin has the potential to grow up to a high of USD 50,000 within the next two years.

How to Profit from Bitcoin…

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Altcoins

3 Altcoins That Are Outperforming Bitcoin and Will Likely Face Consequences

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The crypto market is going through a period of massive recovery in the past few months, which has caused the investors’ optimism to return. While all eyes are on Bitcoin (BTC), as usual, the largest coin seems to be struggling with a major resistance level at $8,000 at the moment. While this level was breached a few times now, every breach resulted in a correction.

At the time of writing, BTC is approaching this level yet again, with its current price being at $7,985,79, and rising further. The price managed to grow by 1.06% in the last 24 hours, and will undoubtedly hit $8,000 in a matter of hours, if not sooner.

However, while Bitcoin continues to remain volatile and struggles with waves of growth and decline, there are some altcoins that are not following its path. Of course, most of them are performing in pretty much the same manner as BTC, as they always had. But, a few coins have actually managed to outperform Bitcoin in recent months.

While optimists believe that this might lead to decoupling from Bitcoin — something that only Binance Coin (BNB) managed to pull off up to this point — it is likely that there will be consequences for these cryptos. This likely means that a price drop for these specific coins awaits somewhere in the near future, as outperforming BTC…

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Altcoins

3 Cryptocurrencies Most Likely to Follow Bitcoin’s Performance

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For more than a year, the cryptocurrency market has been dominated by bearish influence, with most coins seeing constant drops, or stagnation, at best. This all changed in the past few months, starting with Bitcoin which once again started leading the market up, bringing one minor rally after another.

BTC itself experienced massive losses in 2018, with its price going down by around 84%. Most other coins among the top 10 mirrored its performance, and some of them experienced even greater losses. However, now that Bitcoin sees gains again, these cryptocurrencies are still following its example, and many of them have seen massive breakouts. Some of the more notable altcoins that followed Bitcoin’s recent example are Ethereum (ETH), Stellar (XLM), and Cardano (ADA).

Ethereum performance mirroring Bitcoin’s price

As mentioned, Bitcoin led every rally so far, but before it did, its price first went through what is known as an ascending triangle pattern. The pattern held for around five months, which is exceptionally long for the crypto world. However, once the pattern was finally broken — the coin’s price skyrocketed, more than doubling itself within only two months.

One thing to note is that Ethereum performed in pretty much the same fashion. After five months of struggle and confusion for investors, the second largest cryptocurrency also managed to break the pattern and skyrocket as well. It…

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