Category: Bitcoin

Altcoins are finally joining the current bitcoin rally as crypto investors turn risk-on

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Altcoins were in rally mode this week after lagging bitcoin in its recent climb to new 2023 highs. While bitcoin touched an 18-month high and ether broke through the key psychological level of $2,000 for the first time since April, the real spikes were in the rest of the crypto market. Solana notched a 40% weekly gain, Polygon’s MATIC token gained 25% and Cardano’s ADA advanced 17%. Bitcoin and ether rose 8% and 15%, respectively, for the week. “The crypto space has largely been a one-man show over the past…

Bernstein’s stock picks to play the expected bitcoin ETF and halving

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Crypto investors are returning attention to two big catalysts – a bitcoin ETF and the Bitcoin halving – and Bernstein has ways to play each. Crypto is entering a seasonally upbeat period for markets just as investor interest in crypto has been brought back to life thanks to renewed optimism in recent weeks around a potential bitcoin ETF being approved in 2024. Even as investors debate whether or not that expected approval has been priced in to the performance of crypto assets and stocks, there’s another positive catalyst set to…

Bitcoin just formed a bullish golden cross. What now after the rally

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The bitcoin price chart just flashed a bullish signal that typically heralds a big rally is on the horizon. On Monday, the cryptocurrency formed a “golden cross,” a pattern that’s drawn when the 50-day moving average crosses through, and above, an ascending 200-day moving average. Traders and analysts use it as an indicator that a market trend is about to turn more positive. The opposite, or so-called death cross, indicates a bearish change. “Golden and dark crosses tend to develop during overbought or oversold environments respectively,” Rob Ginsberg, an analyst…

Bitcoin mining stocks are poised for a fall if the cryptocurrency hits this key level

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Now that bitcoin has pushed above its key resistance level of the year, the pressure is on for mining stocks, some of which could be in trouble if the cryptocurrency doesn’t reach $50,000 by the second quarter of 2024. Earlier this week bitcoin climbed as high as $35,000 at one point, after being stuck under $30,000 for several months. But the Bitcoin halving is expected in the spring and it will likely reduce companies’ revenue. That means the cryptocurrency may need to rally another 60% by then to lessen the…

The Bitcoin Roadmap To $70,000

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Through bull and bear rallies, crypto analysts have always given their forecast for where the price of a crypto like bitcoin might end up. Mostly, this is the norm, but one analyst has taken a deeper dive into the coin to give an in-depth analysis of Bitcoin’s upward rally. The analysis touches on multiple indicators, as well as the widespread acceptance that BTC has been gaining recently. Bitcoin Price To $70,000 The analysis shared on TradingView shows a different side of the market that has previously been untapped. The analyst…

Citi analysis shows 60/40 portfolio could’ve been helped with bitcoin

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If you held some bitcoin in your 60/40 portfolio back in 2014, you might have gotten a nice lift from the then-shadowy cryptocurrency, according to a Citi analysis of bitcoin returns. Based on a 1-year rolling analysis dating back to 2014, Citi found that a U.S. portfolio that’s split 60% toward stocks and 40% in bonds would see a return of 6.95%. That return rose to 7.42% when analysts added a 1% allocation toward bitcoin. When committing 5% of the portfolio to the flagship cryptocurrency, that return rose to 9.3%,…

Bitcoin Bulls Take Back Seat But Here’s Why Dips Are Still Attractive

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Bitcoin price started a downside correction from the $35,000 resistance. BTC could start a fresh increase unless there is a move below $32,800. Bitcoin rallied toward the $35,000 resistance before the bears appeared. The price is trading above $33,200 and the 100 hourly Simple moving average. There is a key breakout pattern forming with resistance near $34,050 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could correct lower toward the $33,000 zone before it starts a fresh increase. Bitcoin Price Corrects Gains Bitcoin price…

Bitcoin just broke above a key resistance level. Here’s what chart analysts say happens next

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At last, bitcoin has broken out of a tight trading range, potentially heralding greater highs from here. After oscillating between $25,000 and $30,000 for most of the year, touching the top end several times and stepping out of it briefly at one point in July, the flagship cryptocurrency shot up to $35,000 late Monday . Bitcoin sat just below that threshold for much of the trading day Tuesday. Investors should expect higher lows and higher highs in the bitcoin price over the next few months, chart analysts say. “The strong…

Bitcoin is rising again. Why Warren Buffett remains a crypto hater

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Cryptocurrencies are on the rise again, helped by optimism surrounding the possible introduction of a spot bitcoin ETF. But no matter how strong this rally gets, it won’t convince one of the industry’s biggest critics — Warren Buffett. Bitcoin surged 10% over the past week, at one point briefly topping $30,000, as hopes grew that a spot bitcoin ETF will soon be approved. The idea among boosters is that such a vehicle would further legitimize the digital token and attract a wave of investment dollars, pushing the price of bitcoin…

What’s in store for crypto and bitcoin with 10-year Treasury near 5%

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High interest rates have not been bitcoin’s friend in the past, and the benchmark 10-year U.S. Treasury yield recently reaching new generational highs comes at an especially inconvenient time for the cryptocurrency. Bitcoin’s price has held up in this year’s rising rate environment, but it’s also struggled to reach new highs, as investors seeking regulatory certainty in crypto remain on the sidelines. But it’s also primed to rip higher as crypto investors await the outcome of two key events – the approval of a bitcoin ETF and the Bitcoin halving…