Bitcoin has dropped slightly since the highs it set on Monday near $11,750. As of this article’s writing, the leading cryptocurrency changes hands for $11,400, a few percent shy of those highs.

While the cryptocurrency remains in a positive position on a daily and weekly scale, an analyst fears a stronger correction. He recently shared a key fractal analysis suggesting that the cryptocurrency could soon drop under $11,000, which has acted as a key support.

The fractal further predicts that Bitcoin will continue its descent.

Related Reading: Here’s Why Ethereum’s DeFi Market May Be Near A Bottom

Bitcoin Could Soon Slip Below $10,000, Fractal Shows

A leading cryptocurrency analyst thin ... Read more »

Category: News | Views: 41 | Added by: danyagames2007 | Date: 14.10.2020 | Comments (0)

Bitcoin price is still struggling to gain bullish momentum above $11,500 against the US Dollar. BTC could start a major downside correction if it breaks $11,200 and the 100 hourly SMA.

Bitcoin is struggling to settle above the $11,500 and $11,520 resistance levels.
The price is currently trading just above the $10,400 support and the 100 hourly simple moving average.
There is a key bullish trend line forming with support near $11,400 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could start a strong downside correction if it breaks the 100 hourly SMA and then $11,200.

Bitcoin Price Lacks Bullish Momentum

After trading to a new monthly high at $11.724, bitcoin price starte ... Read more »

Category: News | Views: 57 | Added by: danyagames2007 | Date: 14.10.2020 | Comments (0)

Move over S2F — Model creator says ‘90% chance’ BTC never dips below $11K again"You'll see some amazing things happen with Bitcoin in 2021,” the analyst said.

The author behind a valuation model for Bitcoin that's based on Metcalfe’s Law says the crypto asset will likely be priced around $12,000 by the end of November and reach $1 million within a decade.

In an Oct. 11 Twitter thread, Timothy Peterson, Global Macro Manager at Cane Island Alternative Advisors, said there is “90% chance that Bitcoin will never again close below $11K.” Disclaimer: While he’s deadly serious, the prediction recalls the oft stated meme about the “last chance” to buy Bitcoin und ... Read more »

Category: News | Views: 66 | Added by: 4zvezda | Date: 14.10.2020 | Comments (0)

Macro strategist Raoul Pal says the price of bitcoin will reach $1 million in five years. He attributes the price increase to adoption by large pools of investors and the “enormous wall of money” coming into bitcoin, rather than because “the world is collapsing.”

$1 Million Bitcoin in 5 Years

Former hedge fund manager Raoul Pal shared his view on the economy, gold, and bitcoin last week in a podcast interview with Daniela Cambone of Stansberry Research. Pal previously co-managed the GLG Global Macro Fund in London after departing Goldman Sachs where he co-managed the hedge fund sales business in Equities and Equity Derivatives in Europe. He then founded Global Macr ... Read more »

Category: News | Views: 75 | Added by: 4zvezda | Date: 14.10.2020 | Comments (0)

The age-old debate is over. Maybe.

In recent years, a battle of the minds has surfaced on whether or not Bitcoin’s price is correlated with other financial assets, such as stocks. A recent report from Fidelity Digital Assets brings clarity to the argument. 

Fidelity’s lengthy report, titled Bitcoin Investment Thesis: Bitcoin’s Role As An Alternative Investment, shows not only a lack of correlation between Bitcoin’s price and mainstream financial assets, but higher returns for BTC investors over a long-term time horizon. 

The report said:

“Bitcoin’s correlation to other assets from January 2015 to September 2020 (displayed in the table below) is an aver ... Read more »

Category: News | Views: 58 | Added by: danyagames2007 | Date: 14.10.2020 | Comments (0)

A new report shares a number of notably bullish sentiments with regard to Bitcoin and the larger crypto industry.

In a recently released report titled Bitcoin Investment Thesis, Fidelity Digital Assets demonstrated how portfolio managers could increase their returns by allocating a portion of their holdings to Bitcoin (BTC). The report also speculated that in the near future, increased institutional interest could expand Bitcoin’s market capitalization by hundreds of billions of dollars

... Read more »
Category: News | Views: 61 | Added by: danyagames2007 | Date: 14.10.2020 | Comments (0)

Stone Ridge follows MicroStrategy in going big on BTC as a report puts the indirect cost of Coronavirus at $16 trillion.

Bitcoin (BTC) is winning the battle of the safe havens as another corporate buy-in sees $115 million enter its books.

Asset management giant Stone Ridge confirmed that it made the significant purchase via its spin-off New York Digital Investment Group or NYDIG, which now has over $1 billion in assets under management.

Economist: Fed must print $5 trillion in 2021

“The macro backdrop against the public health backdrop has caused a lot of people to rethink their portfolio composition,” the company’s new CEO, Robert Gutmann, tol ... Read more »

Category: News | Views: 48 | Added by: 4zvezda | Date: 14.10.2020 | Comments (0)

Tether’s USDT stablecoin dominates crypto market volumes but data shows its $15.7B market cap does not negatively impact Bitcoin’s volume.

Tether’s (USDT) stablecoin has been the leading base pair for cryptocurrencies for over eighteen months. 

This is a rather impressive feat given the ongoing court case with the New York Attorney General and the other frequent rumors that USDT is not sufficiently backed or subject to regulators' reach. 

USDT has also been the dominant stablecoin in China even though the country banned cryptocurrency exchanges in 2017. This is because large exchanges like Binance, Huobi and OKEx turned to the stablecoin as their leading base pair. 

It’s ... Read more »

Category: Analytics | Views: 19 | Added by: danyagames2007 | Date: 14.10.2020 | Comments (0)