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

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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.

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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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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.

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The rise of the crypto casinos

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In the hyper-competitive world of online casinos, operators are always looking for ways to stand out from the crowd. The most usual methods include using distinctive branding, offering generous bonuses and making sure that they are on all of the major so-called affiliate sites where players can compare and contrast casinos’ different offerings.

But now a whole new generation of casinos are starting to emerge – ones whose key difference isn’t what and how you play, but more in how you pay.

The rise and rise of the cryptocurrency casino is seen by many as the next logical step in a world that is slowly but surely starting to accept that Bitcoin, Ethereum, Ripple, et al. are certainly here to stay.

Of course, it’s the first of these cryptocurrencies that has really grabbed the headlines and led the way with its meteoric performance in 2017 when it seemed like its $20,000 value was just the start of the story. Admittedly, this was short-lived and the value quickly fell back to a more sustainable level but, if it achieved one thing, it was to cement this exciting new kind of currency in the consciousness of the general public.

Why Bitcoin and online casinos are the perfect partners

In many ways, it’s the perfect partnership between Bitcoin and online casinos with multiple benefits for both.

The first of…

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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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