Bitcoin Could Get Stuck in $8k-20k Range Endlessly: Bloomberg Analyst |

Bitcoin could get remain stuck in a price range defined by $8,000 as support and $20,000 as resistance, believes Mike McGlone of Bloomberg Intelligence. The senior commodity strategist on Tuesday said bitcoin price is in an “extended hibernation” state because more people are storing the cryptocurrency like gold instead of trading it on the spot markets. In a longer run, such a sentiment would lead to a reduction in bitcoin’s otherwise wild volatility. That would limit the cryptocurrency’s price fluctuations and would bind it inside a range. Excerpts from his…

Bitcoin (BTC) Price Recent Breakdown Could Accelerate Decline

Bitcoin price failed to surpass the $11,000 resistance and recently declined against the US Dollar. The price is currently trading below the key $10,600 and $10,500 support levels. This week’s followed crucial bullish trend line was breached with support near $10,600 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price is currently at a risk of more downsides below the $10,250 support area. Bitcoin price is currently facing an increase in selling below $10,500 against the US Dollar. Therefore, BTC could accelerate its decline if…

Crypto Market & Bitcoin Remain Supported: BCH, Litecoin, ADA, TRX Analysis

The total crypto market cap failed to surpass the key $280.0 resistance area. Bitcoin price started a downside correction and traded below the $10,800 support. Litecoin (LTC) price is struggling to correct higher and is testing the $75.00 support. BCH price is currently correcting lower and it might test the $305 support area. Tron (TRX) price is extending losses and it remains in a strong downtrend below $0.0185. Cardano (ADA) price broke the key $0.0500 support level to extend its slide. Bitcoin (BTC) and the crypto market cap are currently…

Ethereum Price (ETH) Approaching Next Break While Bitcoin Is Correcting

ETH price started a downside correction after testing the $202 resistance area against the US Dollar. The price is currently trading below $198 and is trading near the $194 support area. This week’s followed key bullish trend line with support near $194 is active on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely approaching the next break either above $200 or below $192 in the near term. Ethereum price is setting up for the next key break versus the US Dollar, while bitcoin is correcting…

Bitcoin May Plunge as It Prints a Familiar Bearish Structure

Bitcoin looks short-term bearish and long-term bullish due to a familiar technical structure on the chart. Find out more here. | Source: Shutterstock By CCN Markets: In technical analysis, a support area gets weaker every time the prices touches it. That’s because each tap drains the strength or the demand at the support. A good example of this principle is the bitcoin breakdown of the $6,000 support on Nov. 14, 2018. The infamous descending triangle breakdown that sent bitcoin to $3,000 | Source: TradingView In the chart above, you’ll see that…

J.Lo and A-Rod Backed a Fintech Play. They Should Invest in Bitcoin Next

Jennifer Lopez and Alex Rodiguez invested in the fintech firm Acorns Grow Incorporated. They should buy bitcoin next. Here’s why. | (i) Photo by ANGELA WEISS / AFP (ii) Shutterstock; Edited by CCN By CCN Markets: It’s not unusual to see A-listers diversify their income streams by investing in promising ventures. We recently learned that celebrity couple Jennifer Lopez and Alex Rodiguez have dipped their toes into the financial industry by investing in fintech firm Acorns Grow Incorporated. Welcome to the family. 🙌🌳 #GrowYourOak pic.twitter.com/bVrakSwgG5 — Acorns (@acorns) August 19,…

Bitcoin Becoming Reserve Asset for Altcoins: Ark Investment

A recent run-up in the bitcoin price has been credited to a string of events: the US-China trade war, determined monetary easing by central banks, price manipulation via Tether’s stablecoin USDT, Facebook’s plans to launch its cryptocurrency, as well as a weakening Renminbi. But another factor may be lifting bitcoin as well: altcoins. New York-based Ark Investment showed in its research that altcoin capital is fleeing into the bitcoin market. Almost every alternative cryptocurrency has established its low against bitcoin since the spike in 2017. Ethereum’s ETH, for instance, is now down…

Legendary Investor Bashes ‘Psycho-Currency’ Bitcoin, Then Accidentally Makes Crypto Case

Mark Mobius, founding partner of Mobius Capital Partners claims bitcoin’s emergence will further drive investors to gold. | Source: REUTERS/Francis Mascarenhas By CCN Markets: Mark Mobius, the legendary emerging-markets investor and founder of Mobius Capital Partners, referred to bitcoin as a “psycho-currency” on Tuesday in an interview with Bloomberg. He claimed the rise of “faith-based” cyber-currencies would ultimately push investors towards hard assets like gold. “You have all these new currencies coming into play. I call them psycho-currencies because it’s a matter of faith whether you believe in bitcoin or…

Bitcoin (BTC) Price Could Revisit $11.2K or $11.4K

Bitcoin price extended gains above the key $10,600 and $10,800 resistances against the US Dollar. The price is currently correcting lower after trading to a new weekly high at $10.960. Yesterday’s highlighted major bullish trend line is intact with support near $10,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price could correct lower, but it seems like the bulls are eyeing a test of the $11,200 resistance area. Bitcoin price is gaining bullish momentum above $10,500 against the US Dollar. BTC is likely to…

Bitcoin & Crypto Market Cap Rising: LTC, BNB, BCH, TRX Analysis

The total crypto market cap broke a major resistance area near the $272.0B level. Bitcoin price jumped more than 5% and broke the $10,600 resistance area. Binance coin (BNB) price recovered above $28.00, but it struggled to surpass the $29.00 resistance. Litecoin (LTC) price is still trading well below the $80.00 resistance area. BCH price extended gains and traded above the $320 resistance level. Tron (TRX) price struggled to climb above the $0.0180 resistance area. The crypto market cap and bitcoin (BTC) are showing positive signs. Ethereum (ETH), litecoin, ripple,…