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When Might Bitcoin See Another Rally?

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It appears that the time has come and that the crypto market is finally ready to shake off the bears, and start a new rally that will restore the coins’ prices. Bitcoin investors are particularly impatient right now, as the coin shows clear signs that it wants to grow, although one big resistance stands in its way.

At the time of writing, Bitcoin is struggling with overcoming the price of $4,000, constantly approaching it only to be brought back down. It did manage to break the resistance a few times now, although a correction followed nearly immediately, preventing the coin from breaking free, and confusing the investors who are wondering whether to buy, sell, or HODL.

Judging from its performance in the past, Bitcoin has the potential to reach at least $20,000, possibly more. Every time the coin hit the all-time high in the past, it was brought back down, only to rise even further during the next rally. If this happens again, its price may exceed $20,000, maybe even during 2019.

However, if we take a look at what is currently going on, some might say that this is unlikely, and for several reasons. One of them is the fact that the interest in Bitcoin has dropped, mainly because trading it is not making as much money as it used to. In addition, the investors’ attention has split, and many are now focusing on the other parts of the market as well.

This does not mean that Bitcoin’s influence or popularity are going down, however, as the coin still dominates the market by far. However, it is not receiving all of the attention, which can be felt in its performance.

What does Bitcoin need in order to surge?

Those who know Bitcoin from the “old days” know that the coin needs to re-awaken the investors’ and traders’ interest. If the investors start making money by trading it again, more cash will flow into the market, and Bitcoin will be able to grow once more. However, one theory is that this will not happen without institutional investors this time.

The last time Bitcoin grew was just after cryptocurrencies exploded back in 2017. Thousands upon thousands of new investors came to the market due to the rising prices, and they were ready to invest large amounts of money into pretty much anything. This was a period of hype that carried BTC to massive heights. However, the hype has died after the market crash in January 2018, and it is unlikely that it will come back.

Those who dared to invest large amounts back then experienced a harsh burn when the prices crashed, and the memory of the losses still remains. However, institutional investors are experienced enough to know when to invest and when to step back, which is why most of them would know how to handle volatility.

If institutions, such as investment firms, banks, and large businesses were to invest in Bitcoin, their competition would join up as well, and the cash flow could result in millions, if not billions of money flowing into the crypto market. This is the ideal scenario which may even bring cryptocurrencies to mass adoption, although this is unlikely to happen due to regulatory uncertainty.

However, it would be a start that would once again inspire trust in smaller investors, who would potentially return to the crypto space. All that BTC needs is to start growing seriously, and the new wave of excitement would follow, only this time, investors would know what to expect, and how to handle the situation better.

Naturally, this would mean that the massive sell-off would arrive at some point as well when Bitcoin completes the “positive” part of its cycle and starts its natural drop once again. However, as mentioned, investors would be ready for it, and the next bear market might not be so damaging as the one that struck in 2018.

To put it simply, Bitcoin will likely show serious growth only when it attracts the interest of institutions, and when things start happening outside of the markets. The positive thing is that some institutions have already started making careful steps towards investing in crypto and blockchain, although they are still extremely careful. While this is a positive thing, it means that Bitcoin is still running on empty and that the situation needs to change in order for a real growth to occur. Once it happens, the hype might follow once more, and the new rally would likely be able to bring the coin back to $20,000, if not even further, as it happened in the past surges.

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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

Why Bitcoin Price Remains Stable Before the Expected Hike

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The cryptocurrency rallied a few days back, but now, it has moved closer to 38.2% Fib level. Investors are enthusiastic that as it remains at this level for some time, and stabilize. The next move in Bitcoin price will take it to the 61.8% Fib level. This is when the hike in the price of the cryptocurrency will occur towards $4,200. However, after the surge in price, the upcoming weeks will see the Bitcoin falling swiftly to $3,000.

The truth is that if this move fails to occur, there may not be an improvement in the value of the digital currency. Also, this movement will enable the “bullish gartly pattern” we saw on the BTC/USD 4H chart to become a reality. Also, we are expecting that the Bitcoin price will decline the same way it has been recovering since early February.

Why this week’s closing price matters

Presently, Bitcoin price is still trading above what the intrinsic value is showing on larger time frames. However, we can see adequate room to accommodate short-term rallies. The price at which Bitcoin closes this week is very critical. It will be a clear indication as to how the digital currency will move in the coming weeks.

If Bitcoin closes at a price above $4,000, we are hopeful that the correction may come from early next week. On the other hand, any…

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Stanford Lecturer praises XRP over Bitcoin

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The world of cryptocurrencies continues to cause controversies even now, particularly when it comes to matters such as the superiority of one coin over others. According to recent reports, one student from Stanford University has stated that one of Stanford’s guest lecturers — Dr. Susan Athey — bashed the first and largest cryptocurrency, Bitcoin, while praising XRP.

Does guest lecturer go anti-Bitcoin?

In late February, Stanford’s student called Conner Brown came out publicly with a claim that Athey described Bitcoin’s network and protocol inaccurately, and that she also used the opportunity to make unfounded criticism. Athey, who also sits on Board of Directors at Ripple Labs — XRP’s parent company — supposedly also stated that XRP provides solutions to all issues mentioned in regards to Bitcoin.

According to Brown’s comments on the matter, the lecture in question took place over a month ago, and after attending it, he wrote an open letter to Standford, explaining the incident. In the letter, Brown claims that Athey inaccurately presented Bitcoin’s consensus protocol and overstated several issues, such as the threat of a 51% attack on the coins network, as well as Bitcoin’s mining centralization.

However, the main problem with the lecture, as Brown sees it, is the professor’s claims that XRP presents a solution to these problems.

The claims caused Dr. Athey to respond publicly via Twitter, stating…

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Bitcoin Chasing Green — First Positive Month Since July In Sight

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The crypto market has started seeing gains in mid-February, with Bitcoin (BTC) following the bullish trend as well. In fact, the largest coin was on its way of seeing the first positive month since July of the last year. Even though its price was struggling to permanently overcome the major resistance at $4,000, the coin kept trying, and as long as its price doesn’t drop below $3,414, this goal can still be achieved

The return of the bearish trend which briefly overtook the market on February 24th caused a lot of damage, although Bitcoin managed to remain above $3,800. Following the crash, BTC started seeing minor gains once again, indicating that the bears have withdrawn for now.

What does the future hold for BTC?

As mentioned, Bitcoin can only complete a positive month if its price remains above $3,500 until the end of February. At the time of writing, the price sits at $3,807 according to TradingView, with an increase of 0.58% in the last 24 hours. As things are right now, it is likely that BTC might succeed in doing this, as its price performed relatively well ever since January 11th, even though it remained between $3,300 and $3,700.

Chart courtesy of TradingView

The recently-emerging bullish trend took it beyond this, and while the price…

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