Tag: Bullish

Bitcoin Miners Uber Bullish as Difficulty Set for 60% Quarterly Growth

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Bitcoin (BTC) will see its mining difficulty grow by almost two-thirds in Q3 2019, new data reveals as the metric astounds markets. Bitcoin metrics show big competition in play Uploading historical and future projections to Twitter on Sept. 19, well-known analyst Kevin Rooke noted difficulty had already expanded at an average of 42% each quarter since 2016. With the exception of Q4 2018, the floor of the Bitcoin bear market, growth has been positive consistently ever since. 2019’s increases have been almost vertical compared to the previous period. “Difficulty is…

Deflation with Negative Interest Rates Is Bullish for Bitcoin – CCN.com

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The European Central Bank (ECB) is the modern architect of negative interest rates. | Image: AFP PHOTO / JOHN THYS The world is slowly descending into the age of deflation. Under this condition, central banks adopt a negative interest rate policy (NIRP). In other words, those who park their cash in banks must pay interest. This forces many citizens to invest their excess cash in assets such as stocks, commodities, or even cryptocurrencies. In 2014, the European Central Bank (ECB) embraced NIRP. The Bank of Japan followed suit in 2016.…

Ethereum Price Flashing Bullish — Can ETH Trigger an Altcoin Revival?

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For the past two weeks, Ether (ETH) price has been a frequent topic of discussion among traders. Investors are beginning to wonder if the altcoin has finished its retrace from a 2019 high at $364 and this week Ether settled at the $170 support and proceeded to reverse course. Cryptocurrency Monthly Performance. Source: Coin360 While this is not terribly exciting, and not convincing enough to indicate a trend reversal, the excitement comes from the interpretation that if Ether bottoms and reverses course, other ailing altcoins will follow suit.  Traders will…

Ethereum Price Weekly Forecast: ETH Signaling Bullish Reversal

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ETH price is finding a strong buying interest near the $165 level against the US Dollar. The price is currently climbing higher and testing a major resistance area near $180 and $182. There was a break above a major bearish trend line with resistance near $176 on the 4-hours chart of ETH/USD (data feed via Kraken). There are a few bullish signs emerging, suggesting an upside break above the $182 resistance. Ethereum price is showing positive signs against the US Dollar, while bitcoin is rising. ETH might surge once it…

2 Bullish Crosses Suggest a New 2019 High Is in Play

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Bitcoin is back to doing Bitcoin (BTC) things and anyone who bought the dip around the $9,350 local bottom is a happy camper. Surely those who employed a little leverage on that entry are even happier.  Before looking forward, let’s take a moment to review the “Keep It Simple Stupid” approach to trading. On Sept. 2, the Moving Average Convergence Divergence (MACD) pulled off a bullish Bitcoin price crossover and the histogram flipped positive on the daily time frame.  Source: Tradingview The MACD and signal line has yet to cross…

Venture Capitalist Fred Wilson Revises His Bullish Opinion on Ether

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Fred Wilson, a venture capitalist and co-founder of venture capital firm Union Square Ventures, has revised his bullish opinion on Ether (ETH). Back in 2017, Wilson suggested that the market capitalization of Ether will bypass the market capitalization of Bitcoin (BTC) by the end of the year, and eventually surpass the value of Bitcoin. However, in a Sept. 4 blog post, Wilson noted that the coin has fallen short of this, and that Ether’s underlying Ethereum network is experiencing some problems, saying: “Ethereum, as many of you know, confounds me.…

VanEck’s Bitcoin Product is Damn Bullish for BTC

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The price of bitcoin surged by $5,000 on April 2, a 23 percent jump that many believe was sparked by an article published on April Fool’s Day. Its title was “SEC drops the Bomb: Approves Bitcoin ETFs.” ETFs, a backronym for Exchange-Traded Funds, have lately caught up with the imagination of cryptocurrency investors. To them, mingling a non-sovereign asset like bitcoin with an institutional product such as an ETF creates a best-of-both-world scenario for an emerging cryptocurrency market. What happened a day after the April Fool’s day, to many, was…

VanEck’s Bitcoin Product is Damn Bullish for BTC

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The price of bitcoin surged by $5,000 on April 2, a 23 percent jump that many believe was sparked by an article published on April Fool’s Day. Its title was “SEC drops the Bomb: Approves Bitcoin ETFs.” ETFs, a backronym for Exchange-Traded Funds, have lately caught up with the imagination of cryptocurrency investors. To them, mingling a non-sovereign asset like bitcoin with an institutional product such as an ETF creates a best-of-both-world scenario for an emerging cryptocurrency market. What happened a day after the April Fool’s day, to many, was…

Bitcoin Price Now Eyes $11K as Historical Data Metric Flips Bullish

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Bitcoin (BTC) price was targeting $10,500 on Sept. 3 as the latest renaissance for the largest cryptocurrency saw it deliver surprise gains.  Market visualization. Source: Coin360 Bitcoin price reverses losses to challenge $10.5K Data from Coin360 tracked BTC/USD as it rose 6.2% in 24 hours beginning Monday night. After trailing around $9,700, the pair suddenly broke higher, smashing resistance at $10,000 to reach local highs of $10,480 soon afterwards. At press time, those higher levels appeared to be holding, with Bitcoin circling $10,400 for the past 12 hours.  Bitcoin 7-day…

Bitcoin Price (BTC) Signaling Bullish Reversal: Can Bulls Break $10.5K?

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Bitcoin price surged higher and broke the main $10,000 and $10,200 resistances against the US Dollar. The price is currently consolidating below the next key resistance at $10,500-$10,525. This week’s followed key bearish trend line was breached with resistance near $9,880 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price is currently trading in a range and dips are likely to find bids near $10,250 and $10,100. Bitcoin price is up more than 7% above $10,400 against the US Dollar. BTC is now facing hurdles…