Category: Bitcoin Analysis

Why Cathie Wood thinks bitcoin will still hit $1 million by 2030 and benefit from the FTX collapse

boss

Cathie Wood’s $1 million bold call on bitcoin surprised many on Wall Street amid the fallout in the crypto industry, and here’s how the investor came up with the prediction. The ARK Invest chief sees the world’s largest cryptocurrency hitting about $1.3 million by 2030, benefitting from the FTX turmoil, she said during the latest CNBC PRO Talks installment with Dominic Chu . “If anything, we think this cycle has benefited bitcoin,” Wood said. “Sam Bankman-Fried didn’t like bitcoin…. Because it couldn’t be controlled. It was decentralized, open, transparent the…

Bitcoin Price Faces Rejection, Why BTC Could Resume Its Downtrend

boss

Bitcoin price struggled to clear the $17,000 resistance. BTC seems to be forming a double top pattern and might dive below the $16,000 support. Bitcoin attempted an upside break above the $17,000 resistance, but failed. The price is trading above $16,300 and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $16,420 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to decline if it breaks the $16,000 support zone. Bitcoin Price Struggle…

Bitcoin Shows Strength As Price Holds Above $16,500; Is This A Bear Trap?

boss

 BTC’s price loses its previous all-time high of $18,000 as Binance rejects the FTX takeover, with the price responding with a decline to a region of $15,500.   BTC’s price continues to look bearish with the market’s current state, as things look uncertain for most traders and investors.  BTC’s price bounces from a low of $15,500 on the daily timeframes as the price aims for a recovery toward the 50 Exponential Moving Average (EMA) In the last few days, the crypto market has been erratic, with the price of many altcoins,…

Here’s how bitcoin futures ETFs performed in a dramatic week for crypto

boss

ETFs closely tied to the price of bitcoin served investors reasonably well as crypto proxies during a volatile week, even as losses for long-term holders continue to build. The ProShares Bitcoin Strategy ETF (BITO) and Short Bitcoin Strategy ETF (BITI) both saw their largest daily trading volumes on record last week. Smaller funds from Valkyrie and VanEck also saw spikes in volume. All four funds saw slightly larger moves than the roughly 21% decline in spot bitcoin over the course of the week. “It is the proof point of getting…

Bitcoin (BTC) Loses Previous All-time High Of $18,000; Here Is What To Expect

boss

 BTC’s price loses its $18,000 all-time high support as the price trades to a region of $17,000 before bouncing off this region.   BTC’s price continues to look bearish with the market’s current state, as things will look uncertain for most traders and investors.  BTC’s price remains weak across all timeframes as the price trades above the 50 and 200 Exponential Moving Averages (EMA). Previous weeks saw the price of Bitcoin (BTC) most altcoins trend higher as many produced gains of over 200%, including the price of Bitcoin (BTC) rallying from…

Bitcoin Price is Showing Early Signs of Fresh Rally, But 100 SMA is the Key

boss

Bitcoin price remained well bid above the $20,000 support zone. BTC is consolidating and might start a fresh rally if it clears the $20,500 resistance zone. Bitcoin traded in a range above the key $20,000 support zone. The price is trading below $20,500 and the 100 hourly simple moving average. There is a crucial bearish trend line forming with resistance near $20,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could a fresh rally if it clears the 100 hourly SMA and $20,500. Bitcoin…

Bitcoin Price Eyes Fresh Upside Break After Fed Interest Rate Hike

boss

Bitcoin price dipped a few points against the US Dollar after the fed rate hike. BTC remained supported and might eye a fresh increase above the $20,500 resistance. Bitcoin corrected further lower and tested the $20,000 support zone. The price is trading below $20,500 and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $20,520 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could a fresh increase if it clears the 100 hourly SMA and $20,500.…

Bitcoin Price Breaking This Confluence Resistance Could Spark a Fresh Surge

boss

Bitcoin price is currently consolidating below $20,650 against the US Dollar. BTC could start a fresh rally if it clears the 100 hourly SMA and then $20,650. Bitcoin is holding gains above the key $20,250 and $20,000 support levels. The price is trading below $20,650 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $20,650 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another increase if it clears the 100 hourly SMA and…

Bitcoin Price Close Above 100 SMA Could Spark A Fresh Surge: Here’s Why

boss

Bitcoin price started a downside correction below $20,500 against the US Dollar. BTC could start a fresh surge if it clears the 100 hourly SMA and then $21,000. Bitcoin is recovering losses from the $20,250 support zone. The price is trading below $20,700 and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $20,680 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another upward move if it clears the 100 hourly SMA and then…

Bitcoin Price Analysis Ahead Of Its Monthly Close, Will $20,500 Hold As Support?

boss

BTC’s price shows strength as it bounces from a downtrend range price rallied to a high of $20,500 with eyes set on $22,000.  BTC could rally more as the price creates more bullish bias by breaking out of a downtrend descending triangle with eyes set on rallying higher. BTC’s price remains strong on the daily timeframe abo the 50 Exponential Moving Average (EMA) as the price aims for more rallies. The price action displayed by Bitcoin (BTC) in the past few days has been impeccably high, with the price rallying…