Final Days of 2019 are Critical for Where Crypto Market Goes Next, Here’s Why

2019-12-30 02:30

A myriad of factors points to the possibility that the Bitcoin bottom could be in, which comes as the crypto finds itself caught within a firm bout of sideways trading within the mid-$7,000 region, closely on the heels of BTC’s recent bounce from lows of $6,400. One popular crypto analyst recently spoke about these factors, explaining that it is clear Bitcoin is on the verge of posting a long-term bottom, but how BTC trades during the final days of 2019 will likely confirm or reject this notion. Bitcoin in Process of Forming Long-Term Bottom, Good For Crypto Market At the time of writing, Bitcoin is trading up over 1% at its current price of $7,470, which marks a strong recovery from its recent dip to lows of $7,000 earlier this week. It is important to note that BTC has posted a series of strong rejections over the past couple of weeks, with each and every visit to the upper-$7,000 region being met with significant selling pressure that has sparked multiple sell-offs that have led the crypto back down to its current price levels. In spite of these rejections, Bitcoin has been able to continue crafting a long-term bottom formation, including a double bottom and inverse head and shoulders pattern. Jonny Moe, a popular crypto analyst on Twitter, spoke about these factors in a recent tweet, saying: “Two potential $BTC reversal patterns in progress with 2 slightly different, but similar, necklines: 1) Double Bottom: Neckline ~$7875 (blue) 2) Inverse Head & Shoulders: Neckline ~$7700 (yellow).” Two potential bitcoin reversal patterns are forming Completion of Miner Capitulation Further Signals That the Bottom May Be In Furthering the bullish factors discussed by Moe is the fact that the recent bout of crypto miner capitulation – which is largely believed to have perpetuated the recent Bitcoin downtrend – has officially come to an end, meaning that significantly further upwards momentum could be imminent. Moe also spoke about this in a tweet, explaining that the crypto miner capitulation completion signal has only flashed a handful of times throughout Bitcoin’s history, always being a bullish sign. “Then combine that with the fact that a miner capitulation completion signal (a 30d hash rate SMA crossing over a 60d hash rate SMA) that has occurred only 9 times in $BTC’s history just occurred for the 10th time, color me excited,” he noted. Then combine that with the fact that a miner capitulation completion signal (a 30d hash rate SMA crossing over a 60d hash rate SMA) that has occurred only 9 times in $BTC's history just occurred for the 10th time, color me excited. Summary of that here:https://t.co/4ClM7hOTZD — Jonny Moe (@JonnyMoeTrades) December 29, 2019 As long as Bitcoin is able to maintain its tempered momentum over the coming couple of days, it is highly probable that it will see a massive extension of its upwards momentum throughout the first parts of 2020. Featured image from Shutterstock. The post appeared first on NewsBTC.

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DigiByte Price Analysis DGB / USD: Powering Up

DigiByte has a bullish short-term outlook, with the cryptocurrency recovering above its 200-period moving average on the four-hour time frame A large inverted head and shoulders pattern has formed on the four-hour time frame The daily time frame is showing that the DGB / USD pair is trapped within a rising price channel Fundamental Analysis […] The post DigiByte Price Analysis DGB / USD: Powering Up appeared first on Crypto Briefing.

2019-6-20 16:08


Tom Lee: Bitcoin Likely To Hit $40k Within Five Months

Bitcoin bull and Fundstrat founder, Tom Lee thinks we are on the verge of another wild run in the cryptocurrency markets. While appearing as a guest on CNBC, Lee states that the announcement of the details of Facebook’s cryptocurrency project is a huge plus for the crypto space, and legitimizes blockchain technology and the decentralization […] The post Tom Lee: Bitcoin Likely To Hit $40k Within Five Months appeared first on ZyCrypto.

2019-6-19 09:49


Tom Lee: Bitcoin Likely To Hit $40k Within The Next Five Months

Bitcoin bull and Fundstrat founder, Tom Lee thinks we are on the verge of another wild run in the cryptocurrency markets. While appearing as a guest on CNBC, Lee states that the announcement of the details of Facebook’s cryptocurrency project is a huge plus for the crypto space, and legitimizes blockchain technology and the decentralization […] The post Tom Lee: Bitcoin Likely To Hit $40k Within The Next Five Months appeared first on ZyCrypto.

2019-6-19 09:49


Crypto Could Help Russia Escape US Sanctions as Country Looks to Gold-Backed Crypto Asset

The use and prevalence of cryptocurrency have led to a number of disruptions within the global economic system such as many large firms being forced to finally adopt crypto, many major retailers finally accepting cryptocurrency and the general public beginning to question the traditional economic structures that have existed until now. One of the latest […]

2019-6-17 17:07


Bitcoin Price Sinks to $7,500 as Analyst Predicts Further 30% Plunge

By CCN Markets: In the past 24 hours, the bitcoin price has dropped from $7,900 to around $7,500 by more than five percent against the U. S. dollar in a minor pullback in the crypto market. Within the last seven days, the bitcoin price has fallen by over ten percent, which has led technical analysts in the crypto market to ponder about the possibility of an extended pullback despite the market’s positive macro landscape.

2019-6-10 09:33


Новости криптовалют сегодня, 7 июня 2019

Тут новости криптовалют сегодня от авторов блога «Новости криптовалют». Статья обновляется в течение дня. CoinDesk Binance, ведущая крипто-биржа по объему торгов, сообщила Bloomberg, что выпустит свои собственные стабильные монеты, вероятно, в течение нескольких недель.

2019-6-7 09:05


Three New Crypto Exchanges Accepted by the Malaysian Securities Commission (SC)

Three New Crypto Exchanges Registered by the Malaysian Securities Commission (SC) As per an all-new press-release issued by the Securities Commission of Malaysia (SC) earlier today, three new cryptocurrency exchange platforms — Luno Malaysia, Sinegy Technologies and Tokenize Technology — have been given permission to operate within the nation’s borders. For those of our readers […]

2019-6-6 22:34


Verge Price Analysis XVG / USD: Back In The Coffin

Verge has a bearish short-term bias, with the cryptocurrency trading well below its 200-period moving average on the four-hour time frame The four-hour time frame continues to show a large inverted head and shoulders pattern The daily time frame is still showing that the XVG / USD pair remains trapped within a large horizontal price […] The post Verge Price Analysis XVG / USD: Back In The Coffin appeared first on Crypto Briefing.

2019-6-6 16:50


Zilliqa Price Analysis ZIL / USD: Escaping With The Goods

Zilliqa has a bullish short-term trading bias, with the cryptocurrency still well supported on any moves lower The ZIL / USD pair has a bullish medium-term outlook with cryptocurrency still trading above its 200-day moving average The daily time frame is showing that price remains trapped within a horizontal price channel Zilliqa / USD Short-term […] The post Zilliqa Price Analysis ZIL / USD: Escaping With The Goods appeared first on Crypto Briefing.

2019-6-4 16:50


Analysts Concur Bitcoin Must Hold $8,200 to Sustain Rally, Here’s Why

The crypto markets have incurred some downwards pressure today after Bitcoin (BTC) was once again unable to climb into the upper-$8,000 region without incurring any significant selling pressure. Bitcoin’s inability to gain a foothold within the upper-$8,000 region appears to have put the entire market’s upwards momentum at risk, and analysts are now noting that.

2019-6-4 03:30