During his recent interview with Stansberry Research, Clem Chambers, CEO of ADVFN, forecasted that Bitcoin could crash to $10,000:  

Chambers explains that the top cryptocurrency constantly repeats the same pattern based on its quadrennial halvening event: 

It goes up like a rocket. It comes down like a rock…It’s the same cycle. It’s the same audience. It’s the same driver, and therefore it’s the same pattern.

He adds that Bitcoin could tank to as low as $7,000 during a capitulation phase, but the flagship coin won’t stay at these levels for extended periods of times.   

Chambers says that crypto winter is already here, but he sees it as an opportunity ... Read more »

Category: News | Views: 163 | Added by: danyagames2007 | Date: 01.07.2021 | Comments (0)

Recent macros reveal that the Crypto market is still struggling for support as miners selling pressures intensify with lacklustre institutional demand and stiff crypto regulations coming to play.

At the time of drafting this report, the pioneer Crypto kept struggling around the $35k price levels on the FTX exchange with a daily trading volume of about $35 billion. Bitcoin presently has a market value of $643 Billion.

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Bitcoin bulls seem to be suffering from exhaustion relatively as mining hash-power continues to plunge off the blockchain during the largest migration of Bitcoin miners in history.

Market pundits esti ... Read more »

Category: News | Views: 151 | Added by: danyagames2007 | Date: 01.07.2021 | Comments (0)

Bitcoin trading range
BTC has been increasing since bouncing above the $31,400 horizontal support area on June 22. So far, it has managed to reach a high of $36,600, doing so on June 29. 

The upward movement was preceded by significant bullish divergence in the MACD, RSI, and Stochastic oscillator. However, neither has a bullish reading yet. The RSI is just below 50 and the MACD signal line is still negative. Furthermore, the Stochastic oscillator has already made a bearish cross.

The BTC price fell yesterday but did not create a bearish engulfing candlestick. Nevertheless, it seems to have resumed its downward movement today.

The main resistance area is at $40,550. This is a horizontal resistance and the ... Read more »

Category: News | Views: 178 | Added by: danyagames2007 | Date: 01.07.2021 | Comments (0)

Bitcoin saw immense volatility in the last six weeks as the price dipped from nearly $60,000 on 12 May to as low as $29,000 on 22 June. The exchange supply ratio of Bitcoin, which is one of the most important indicators of the overall BTC network activity, dropped substantially in the last few weeks.

According to Santiment, a crypto analytics and on-chain analysis firm, the Bitcoin exchange supply ratio has reached its lowest level in nearly six months. The price of the world’s largest digital currency is making a strong comeback.

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“Following Bitcoin’s mid-May dip, the supply of BTC sitting on exchanges has steadily fallen back down and locked away for ... Read more »

Category: News | Views: 193 | Added by: danyagames2007 | Date: 01.07.2021 | Comments (0)

Bitcoin  (CRYPTO:BTC) , the world's top cryptocurrency, lost nearly 40% of its value over the past three months. China's crackdown on cryptocurrency trades, Tesla's suspension of Bitcoin payments, and the rise of smaller cryptocurrencies all contributed to that sell-off.

Bitcoin's decline also dragged down shares of companies that depend on its growth. Let's examine three such stocks -- Marathon Digital  (NASDAQ:MARA) , Riot Blockchain  (NASDAQ:RIOT) , and Coinbase  (NASDAQ:COIN)  -- and see why they're still risky investments.

1. Marathon Digital
Prior to the Bitcoin boom, Marathon was a patent-holding company. Its main strategy was to purchase patents from other companies, then generate revenue through licensing agreements or litigation.

Up until last year, Marathon ... Read more »

Category: News | Views: 159 | Added by: danyagames2007 | Date: 01.07.2021 | Comments (0)