Connect with us

Bitcoin

Why Bitcoin (BTC) Will Go Back to $20,000

Published

on

Bitcoin
READ LATER - DOWNLOAD THIS POST AS PDF

The crypto space has entered a period of recovery, as the year-long crypto winter finally ended. However, many in the crypto community are now wondering what will come next? What will happen with Bitcoin?

According to some, the coin will continue its slow and steady growth, while others are hoping to a sudden surge that will take it back to the old heights, and beyond. The coin itself surged by as much as 7.60% on Friday, currently sitting at $5,794.14. The highest point that BTC has reached in 2019 is only $2 higher than the current price.

In other words, the coin is currently going through an astounding recovery, thus somewhat confirming some investors’ belief that it will, in fact, surge back to the old heights. However, there are other factors that might be taken as a confirmation that BTC is on its way back to $20,000.

Bitcoin moving averages are similar to those in 2015

It is no secret that there are many who remain quite bullish on BTC, with claims that the coin could reach $1 million in a few short years. However, while such predictions are still being taken with a grain of salt, others, such as the one made by Peter Brandt, are much more realistic. The Factor Trading author believes that BTC might approach the price of $19,800 relatively soon, and he based this prediction on the weekly moving average indicator.

He noted that Bitcoin’s performance looks very similar to the one in November 2015, which allowed the coin to reach $20,000 within two short years. Brandt is not alone in thinking that BTC is on its way to former glory, as Fundstrat’s technical strategist, Robert Sluymer believes the same. A similar prediction was made by Fundstrat’s co-founder, Thomas Lee, as well.

The new price move closed the coin’s price above its 50-weekly moving average, which usually announces a strong potential for a massive bull run.

Bullish relative strength index

Another indicator of a future rally is Bitcoin’s weekly Relative Strength Indicator, which increased to reach and exceed 53.65, making it the highest since late 2015. The move impacted the buying sentiment significantly, as opposed to the selling pressure that came in January 2018 when the RSI dropped below this mark.

The Golden Cross

Finally, there is the matter of a so-called ‘Golden Cross,’ which is made when the short-term moving average of a particular asset goes above its long-term moving average. Bitcoin has seen several Golden Crosses during its decade-long history, one of which occurred back in October 2015, similarly to other indicators.

As we now know, seeing the combination of these signs and signals in 2015 meant a massive rally in the future. It took the coin two years to do it back then, but the situation is much different these days, and the rally might arrive much faster this time. When these signs appeared in 2015, the BTC price was at $300. Two years later, it reached $20,000. This was considered to be one of the longest bullish periods ever, and now — it appears that the history is repeating itself.

It is difficult, if not impossible, to accurately predict what the coin might do, especially in the long-term. However, all signs of a new massive bull run are here already, and all that remains is to patiently wait and see whether or not the price will act upon them.

For the latest cryptocurrency news, join our Telegram!

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 Pexels

Bitcoin

Trusted Crypto Tumbler To Protect Your Wealth

Published

on

crypto tumbler
READ LATER - DOWNLOAD THIS POST AS PDF

Back when Bitcoin originally emerged, over 11 years ago at this point, cryptocurrency transactions were believed to be fully anonymous. This belief stuck around for years to come, but today, we know that, in most cases — this is no longer the truth.

Since the invention of blockchain explorers, it became possible to track every Bitcoin transaction, all the way back to the genesis block. This came as a part of blockchain transparency which promises to eliminate corruption, theft, and other such issues.

However, there is still a need for a certain level of privacy, as people like to keep their wealth to themselves, and not let everyone know how much money they have, or how much they sent for whatever purpose. This is why many are now using crypto tumblers, or mixers.

What do crypto mixers do?

As the name suggests, crypto mixers/tumblers mix up the coins in order to hide/disguise/make it difficult to discover where the coins came from. Things like the amounts, transactions, and wallet addresses to and from which the coins travel are fully traceable, which is why tumblers exist.

In a way, you could say that mixers can add an extra layer of privacy while using Bitcoin, Ethereum, Litecoin, and many other cryptocurrencies. There are many Bitcoin mixers Continue Reading

Bitcoin

5 Best Places to Bet with Bitcoin

Published

on

places to bet with Bitcoin
READ LATER - DOWNLOAD THIS POST AS PDF

It seems like BTC is always making headlines for one reason or another.

When the market points towards bullish behavior Bitcoin is all the rage. When there is so much long action (going on right now) and then the price plummets, BTC also dominates the headlines. The same goes for legislation and when any new crypto product or platform comes out. It’s always compared against BTC.

So with BTC fever in full swing, sportsbooks around the world have adopted digital currencies as one of their main forms of funding accounts and paying out winnings. And with sports betting legalized in states across the USA, both BTC and legal online gambling are in the limelight. 

But where are the best places to bet using BTC and other cryptos? Furthermore, why would you want to use BTC, LTC, or Ethereum in this manner?

The Why

The principal reason why you would want to use cryptocurrencies in your ‘sports investing’ ventures is speed, cost, security, and bonuses.

When you use cryptos like BTC (BTX) to move money in and out of your account. You bypass the standard centralized banking system which drastically improves on both the speed of the transaction and the cost of the transaction – this is especially true with payouts. 

Continue Reading

Bitcoin

Bitplaza Inc Introducing Cryptocurrency to Retail

Published

on

BitPlaza
READ LATER - DOWNLOAD THIS POST AS PDF

Even though influential companies are not ready to validate cryptocurrencies as a stable form of money, Bitcoin is becoming a more frequently used currency daily. There is a rising number of companies that accept Bitcoin for the purchase of their products, validating it as a spendable currency around the globe.

Bitplaza Inc took the next step into technology and commerce, providing customers with a platform where they can spend Bitcoins for their needs through a mobile device. It opens the opportunity for companies and brands to list their products in exchange for Bitcoin, which will give more credibility to the coin.

What is Bitplaza?

Bitplaza is a shopping app that belongs to a retail company called Bitplaza Inc, located in Pennsylvania. The app is available on both Google Play and the Apple App Store. Bitplaza allows anyone globally to purchase brand new items with Bitcoin. The app has a wide variety of products to buy online, from electronic devices, video games, even groceries. The products that can be purchased from the app range from popular brands such as Sony, Starbucks, Adidas, Apple, and many more. The Bitplaza team is always adding new products to the shopping app, making more items available to be purchased with Bitcoin. The app covers a broad range of products for the different needs of the…

Continue Reading

Press Release