Tag: Analysis

Price Analysis 8/19: BTC, ETH, XRP, LINK, BCH, LTC, BSV, ADA, BNB, EOS

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Bitcoin and the altcoins continue to correct but lower levels are likely to attract buyers as the bullish macro trend has not changed. Bloomberg Intelligence senior strategist Mike McGlone is bullish on Bitcoin (BTC) as he believes that “something unexpected needs to happen for Bitcoin’s price to stop doing what it’s been doing for most of the past decade: appreciating.” However, with the S&P 500 hitting a new all-time high today, traders are booking profits in gold and crypto assets. As U.S. markets surge to new highs, Bitcoin price has…

Crypto Price Analysis August 19: BTC, ETH, LTC, EOS, LINK

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After updating their respective highs once again, all assets have started descending corrections, which may be considered just as another movement to the downside before a further uptrend. Dmitriy Gurkovskiy, a senior analyst at foreign exchange broker RoboForex, provides his vision of the possible tendencies in price changes for Bitcoin as well as for other major cryptos. On charts of many assets, the currently forming structures point at further growth. So, if bulls continue their pressure, the cryptocurrency market may try to continue the bullish trend. The unwillingness of the market…

Ethereum Price & Technical Analysis: ETH Is Ready for Movements

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On Tuesday, August 18th, ETH is slowly falling; the cryptocurrency is consolidating in anticipation of possible movements. The instrument is mainly trading at $430.92. By Dmitriy Gurkovskiy, Chief Analyst at RoboForex. As we can see in the daily chart, the rising tendency continues. After finishing a quick growth, ETH/USD is correcting towards the support area. The MACD histogram is still above 0 while its signal lines have formed a “Black Cross”. All these factors taken together may indicate that the instrument may complete the pullback in the nearest future and resume…

Price Analysis 8/17: BTC, ETH, XRP, LINK, BCH, LTC, BSV, ADA, EOS, BNB

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Bitcoin’s strong move above the $12,200 resistance could boost sentiment and lead to a stronger rally in select altcoins. Investors usually buy large quantities of gold when they do not have faith in fiat currencies and want to protect their purchasing power against debasement. Berkshire Hathaway’s recent purchase of Canadian gold miner Barrick Gold suggests that Warren Buffet is not confident about the future health of the United States and global economy. Morgan Creek Digital co-founder and partner Jason Williams believes that although Buffet might not directly invest in Bitcoin…

Price Analysis 8/14: BTC, ETH, XRP, LINK, BCH, BSV, LTC, ADA, BNB, CRO

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Traders have turned bullish on Ethereum again and the strong break above $400 could pull Bitcoin and other altcoins higher. Data from Grayscale Investments shows that the firm’s assets under management soared from about $1.9 billion at the end of 2019 to over $3.5 billion by the end of June 30, 2020.  The correction in the U.S. dollar (DXY) and the possibility of further weakness due to continued money printing by the U.S. Federal Reserve could be one of the main reasons for the surge in institutions investing in Bitcoin…

XRP Price & Technical Analysis: XRP Took a Break

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XRP stopped falling. On Friday afternoon, the asset is consolidating at $0.2942 USD. By Dmitriy Gurkovskiy, Chief Analyst at RoboForex. As we can see in the H4 chart, the cryptocurrency is still correcting after completing a rising impulse. Within this correction, there are both short-term and mid-term (triangle) channels. The MACD lines are directed downwards, thus confirming a correctional movement but the green histogram indicates a possible breakout of the local resistance at $0.3007. If the price breaks it, the asset may grow to reach the high at $0.3258 and then…

Price Analysis 8/12: BTC, ETH, XRP, LINK, BCH, BSV, LTC, ADA, XTZ, BNB

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As Bitcoin price slowly regains momentum, many altcoins have been rewarding traders by rallying to new all-time highs. On August 11 MicroStrategy, the world’s largest publicly traded business intelligence company, announced that it had ditched fiat currency and built its primary treasury reserve with Bitcoin (BTC).  The company’s CEO Michael J. Saylor believes that the coronavirus pandemic and the stimulus measures enacted to counter it will cause “a significant depreciating effect on the long-term real value of fiat currencies and many other conventional asset types.”  Saylor further explained that Bitcoin…

Crypto Price Analysis August 12:

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Dmitriy Gurkovskiy, a senior analyst at foreign exchange broker RoboForex, provides his vision of the possible tendencies in price changes for Bitcoin as well as for other major cryptos. Cryptocurrencies are still correcting before another attempt to start a new bullish impulse. In charts of many cryptoassets, they are forming a Triangle pattern, a breakout of […] Dmitriy Gurkovskiy, a senior analyst at foreign exchange broker RoboForex, provides his vision of the possible tendencies in price changes for Bitcoin as well as for other major cryptos. Cryptocurrencies are still correcting before another…

Price Analysis 8/10: BTC, ETH, XRP, BCH, LINK, BSV, LTC, ADA, BNB, CRO

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Bitcoin price continues to decline at $12,000, but altcoins have taken advantage of the range bound action by rallying higher. Traders prefer to trade a trending market as it generally moves in one direction and the retracements offer low-risk entry opportunities. This is because a trade that follows the major trend carries a greater possibility of earning profits than one in a volatile market.  As several cryptocurrencies started a trending move in July, web traffic to the crypto exchanges also increased by 13%, according to data from ICO Analytics. Daily…

Price Analysis 8/7: BTC, ETH, XRP, BCH, BSV, LTC, ADA, LINK, BNB, CRO

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Bitcoin and altcoins might consolidate or correct marginally for a few days before a possible breakout to the upside. The U.S. Federal Reserve has been contemplating a change in the way it responds to a possible increase in inflation. Previously, the Fed would kickstart tightening if its models forecast a 2% inflation increase. However, this time, the Fed wants to allow inflation to stay above their 2% target before raising rates.  Morgan Creek’s Anthony Pompliano believes that due to Fed’s poor track record with inflation targets, they might end up…