Tag: Analysis

Price Analysis Feb 5: BTC, ETH, XRP, BCH, BSV, LTC, EOS, BNB, ADA, XTZ

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Bitcoin’s dominance continues to drop as altcoins outperform the largest cryptocurrency. Although Bitcoin has rallied about 33% year-to-date, its dominance has dipped to 64.40%,  its lowest level since July 2019. This shows that altcoins have continued to outperform Bitcoin. However, with the Bitcoin halving fast approaching, the digital asset’s volatility is likely to pick up. Tom Lee, co-founder at Fundstrat Global Advisors, has again turned ultra bullish on Bitcoin and expects a rally to about 200% in the next six months. According to him, historically, whenever Bitcoin has broken above…

Price Analysis Feb 3: BTC, ETH, XRP, BCH, BSV, LTC, EOS, BNB, ADA, XTZ

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As the sentiment in the Bitcoin and cryptocurrency markets has turned positive, this dip should be viewed as a buying opportunity. The recovery in cryptocurrency prices has ignited interest among institutional investors. In 2019, dedicated crypto funds returned more than 16% according to Eurekahedge while traditional hedge fund strategies returned 10.4% according to Hedge Fund Research, Inc. Several hedge funds and large trading firms use speed to their advantage by benefitting from pricing inefficiencies.  Others profit from the spreads between bids and offers. While such entrants will improve the liquidity…

Price Analysis Jan 13: BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, XMR, TRX

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Though several cryptocurrencies are stuck in a range, the trend is gradually turning positive. Bitcoin has seen an uptick in volumes in the new year. A report by cryptocurrency market research firm Arcane Research shows that 7-day average daily trading volume has surged 126% in a week. Along with Bitcoin trading volume, the CME Bitcoin futures contract has also seen increased activity. The Bitcoin futures open interest has skyrocketed to a seven month high, which is only behind the peak seen at the end of June.  A pick up in…

ANALYSIS: The Global Game of Coins Heats Up

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China’s digital currency project continues to move ahead aggressively, with a new paper from the People’s Bank of China suggesting that a core design is complete. Whatever stage of development the currency actually is, it’s clear that China wants the world to see it as ahead of the curve in the digital currency race.  In other parts of the world, crypto companies face a never-ending game of regulatory arbitrage. Derebit has moved from the Netherlands to Panama, citing a new burden from AMLD5 compliance. In the U.S., New York wants…

Price Analysis Jan 10: BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, XMR, TRX

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The bounce off the first support levels on most major cryptocurrencies indicates a possible change in trend. Safe haven assets were dumped on Jan. 8, on reports that the US-Iran conflict might not escalate to an all out war. Cryptocurrencies, which had surged alongside gold and oil with also retreated from two-month high. However, the positive sign is that most major cryptocurrencies have held their immediate support levels, which indicates buying on dips. This shows that the sentiment has changed from sell on rallies to buy on dips. With the…

Bitcoin Price & Technical Analysis: BTC Developing Correction and Has Chances For New Growth

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By Dmitriy Gurkovskiy, Chief Analyst at RoboForex. Tech analysis of the BTC The BTC may grow in price due to the US vs. Iran conflict In ten years, the profitability of the BTC has been many times higher than that of Gold and S&P 500. On D1, speaking about the long-term moods of the cryptocurrency, there has been a pullback to 50.0% Fibo related to the previous declining wave after a convergence on the MACD. Also, the correctional dynamics have let the market test the resistance area at 50.0% ($8500.00)…

Price Analysis Jan 8: BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, XMR, ADA

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Profit booking seen at higher levels. However, if the major cryptocurrencies can bounce off their strong support levels, it will indicate strength. The crypto markets continue to respond to the events happening in the United States-Iran conflict. Any sign of escalating tensions is boosting the crypto markets higher. Google Trends shows that the searches for terms “Bitcoin” and “Bitcoin Iran” have surged in the past few days. This shows that investors are considering Bitcoin as a safe haven asset, similar to gold. A report released by analytics firm SFOX showed…

Price Analysis Jan 06: BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, XLM, XMR

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Several altcoins have made their first move from longtime lows and if Bitcoin is able to confirm a bottom, a marketwide rally is likely to pick up steam. The price of an asset class is determined by its fundamentals and the sentiment towards it. At times of panic or exuberance, fundamentals take a back seat and sentiment dictates the price action. Currently, the US-Iran tension has sent investors scurrying towards safety. This has seen a move away from stocks and into assets that are considered safe havens. However, it is…

Price Analysis Jan 03: BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, XTZ, XLM

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Bitcoin is en-route to flipping the $7.4K resistance to support and the sharp rebound from key support levels on most major cryptocurrencies is a positive sign. Bitcoin started the new year on a weak note and looked to be losing ground. However, the news of the killing of Iran’s General Qasem Soleimani, in an airstrike ordered by the US President Donald Trump, caused a reversal in Bitcoin’s price. This shows that the market participants have again turned to cryptocurrencies in times of uncertainty and escalating geopolitical tensions. In other news,…

Bitcoin & Crypto Market Facing Hurdles: BNB, BCH, LTC, EOS Analysis

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The total crypto market cap is declining and struggling near the $178.0B support. Bitcoin price was down around 3%, but it is now recovering above $7,000. Litecoin (LTC) price declined more than 5% and it is now trading below $40.00. BCH price failed to stay above the $200 support and it is extending losses below $195. EOS price is down 5% and it even broke the $2.500 support area. Binance coin (BNB) is likely to revisit the key $13.00 support area. Bitcoin (BTC) and the crypto market cap are gaining…