đ° BlockFi: (Up To $250 Bitcoin Bonus) https://blockfi.com/cryptonewsalerts
The Bitcoin price dropped below $34,000 as traders look to the next key levels of support. In the near term, the major macro level for BTC and Ethereum remain at $30,000 and $2,000, respectively. According to traders like TraderKoz, if Bitcoin can remain above $37,000 throughout the weekend and recover to around $37,500, the chances of overtaking $42,000 become high.
In other trending Bitcoin News today: Will Bitcoin Still Hit $100,000? Crypto Analyst PlanB Analyzes the State of BTC Market. In a new interview with trader Scott Melker on The Wolf of All Streets, PlanB emphasizes he believes that his stock-to-flow models, which predict that Bitcoin will eventually hit $100,000 or $288,000, are still intact.
đ„ Subscribe on YouTube: http://CryptoNewsAlerts.net
đ„ Subscribe on Spotify: http://spotify.cryptonewsalerts.net
đ„ Subscribe on iTunes: http://itunes.cryptonewsalerts.net
đ„ Follow on Twitter: https://twitter.com/CryptoNewsYes
đ„ Join our Private Crypto FB group: âș http://fb.cryptonewsalerts.net
đ„ Join our Private Crypto Telegram group: âș http://telegram.cryptonewsalerts.net
đ„ Binance â Buy, Sell or Trade Over 400 Altcoins: âș http://binance.cryptonewsalerts.net
đ„ [IMPORTANT] â Secure your crypto with a Trezor or Ledger hardware wallet:
Trezor: âș http://trezor.cryptonewsalerts.net
Ledger: âș http://ledger.cryptonewsalerts.net
DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
Show Notes / Resources:
https://cointelegraph.com/news/bitcoin-price-slips-below-34k-what-are-the-key-levels-to-watch
You Might also like
-
3 KEY FACTORS WHY BITCOIN PRICE EXPLODED TO .4K OVERNIGHT | BTC Halving 2020 Explained
âĄïžÂ TEEKA TIWARI â The Investment of the Decade: http://2020.cryptonewsalerts.net
Bitcoin price has soared from $7,700 to $9,500 in 24 hours, mainly driven by three key factors that triggered the short-term rally.
The BTC price increased from $7,700 to $9,500 overnight, increasing by 23%, according to Coinmarketcap, in less than 24 hours.Â
The three main factors that catalyzed Bitcoinâs recent rally are record-high spot exchange volume, a breakout above historical resistance levels, and a noticeable rise in institutional demand.
KEY FACTOR #1: Spot exchanges drove Bitcoin (BTC) to $9,500, not the futures market In crypto, the term spot exchange refers to a platform that facilitates fiat to crypto trades.
On Binance and Coinbase, for instance, users can trade Bitcoin with USD or stablecoins like Tether (USDT) without leverage.
Volumes coming from spot exchanges are not inflated by leverage or borrowed capital.
Spot volumes typically demonstrate authentic retail demand and they often increase during an accumulation phase.
Unlike past rallies, the recent upsurge of Bitcoin was primarily led by spot volumes. Binance and Coinbase saw record high daily volumes.
KEY FACTOR #2: Historical BTC levels were broken with ease According to a cryptocurrency trader known as Benjamin Blunts, the Bitcoin price broke all major historical resistance levels when it first surpassed $8,000.
The 100-day and 200-day daily moving averages (DMA) and the 0.618 Fibonacci Retracement level were all broken simultaneously.
âAnd there it is. the test of the 0.618 fib, the 100 and the 200 daily moving averages all in one fell swoop,â Blunts said.
âQuestion is what happens from here.âÂ
When Bitcoin surpasses important resistance areas without any pullback, it indicates that a stronger upside movement awaits.
Consequently, when BTC first hit $8,000, it went up to as high as $9,500 swiftly.
KEY FACTOR #3: Institutional demand acted as a safety net In the first quarter of 2020, the key narrative around Bitcoin was the accumulation of BTC by institutional investors.
The quarterly report of Grayscale, which operates the Grayscale Bitcoin Trust, said that 88% of investments came from institutions.
In the same period, the assets under management (AUM) of the Grayscale Bitcoin Trust just hit $3 billion, according to its CEO Barry Silbert.
â88% of inflows this quarter came from institutional investors, the overwhelming majority of which were hedge funds,â said the investment firm.
The gradual increase of inflow in capital into institutional products of Grayscale since January 2020 indicates that institutions consistently invested in Bitcoin throughout the first quarter.
In other trending Bitcoin News today:
BTC Halving 2020 Explained: Are the Stars Aligning for the Next BTC Bull Run?
With just 12 more days away until the infamous Bitcoin halving, could it ever be a good thing to have your salary cut in half?
Ask a Bitcoin miner and your answer might well be a resounding âyesâ.
Follow Us:
đ„ Blog/Podcast: http://CryptoNewsYes.com
đ„ Subscribe on YouTube: http://CryptoNewsAlerts.net
đ„ Subscribe on iTunes: http://itunes.cryptonewsalerts.net
đ„ Subscribe on Stitcher: http://stitcher.cryptonewsalerts.net
đ„ Subscribe on TuneIn: http://tunein.cryptonewsalerts.net
đ„ Follow on Twitter: https://twitter.com/CryptoNewsYes
đ„ Join our Private Crypto FB group: âș http://fb.cryptonewsalerts.net
đ„ Join our Private Crypto Telegram group: âș http://telegram.cryptonewsalerts.net
đ„ Binance â Buy, Sell or Trade Over 400 Altcoins: âș http://binance.cryptonewsalerts.net
đ„ [IMPORTANT] â Secure your crypto with a Trezor or Ledger hardware wallet:
Trezor: âș http://trezor.cryptonewsalerts.net
Ledger: âș http://ledger.cryptonewsalerts.net
DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
Show Notes / Resources:
Not very surprising that all altcoins completely collapsed today against #BitcoinWhen will people realise that altcoins are just cheap copies of Bitcoin?
Bitcoin is the only truly decentralised blockchain and has a higher hash rate than all the top altcoins combined!
â The Moon (@TheMoonCarl) April 30, 2020
Bitcoinâs Halving: Are the Stars Aligning for the Next BTC Bull Run?
https://cointelegraph.com/news/3-key-factors-why-bitcoin-price-exploded-to-94k-overnight
Post Views: 254 -
Bitcoin Price To Rise Above ,000 in 2020, Says Bitpayâs Singh | Elon Musk Drops BTC Bomb
âĄïžÂ OPM Wealth: http://opm.cryptonewsalerts.net
âTis the season of Bitcoin price predictions.
Only days after Nexo co-founder Antoni Trenchev made the case for a $50,000 BTC price in 2020, Bitpay Chief Commercial Officer Sonny Singh has also shared his belief that Bitcoin (BTC) will hit a new all-time highs this year.
Notably, Singh shared what turned out to be a correct prediction that Bitcoin would get close to $15,000 in 2019 with Bloomberg a little more than a year ago.
âThis year, Iâm going to make a prediction,â Singh told Bloombergâs Taylor Riggs on Wednesday.
âI think Bitcoin passes the all-time high and goes passed $20,000 this year.â
In other Crypto news today, Elon Musk dropped a Bitcoin Bomb on Crypto Twitter⊠again.
In an innuendo-filled tweet, the chief executive of both SpaceX and Tesla joked that Bitcoin is â*not* my safe word.â (If you donât know what âsafe wordâ means, please search it up.)
Follow Us:
âĄïžÂ [PODCAST PROMO] Get $25 In Free CMDX Tokens from our sponsor: http://promo.cryptonewsalerts.net
đ„ Blog/Podcast: http://CryptoNewsYes.com
đ„ Subscribe on YouTube: http://CryptoNewsAlerts.net
đ„ Subscribe on iTunes: http://itunes.cryptonewsalerts.net
đ„ Subscribe on Stitcher: http://stitcher.cryptonewsalerts.net
đ„ Subscribe on TuneIn: http://tunein.cryptonewsalerts.net
đ„ Follow on Twitter: https://twitter.com/CryptoNewsYes
đ„ Join our Private Crypto FB group: âș http://fb.cryptonewsalerts.net
đ„ Join our Private Crypto Telegram group: âș http://telegram.cryptonewsalerts.net
đ„ Binance â Buy, Sell or Trade Over 400 Altcoins: âș http://binance.cryptonewsalerts.net
đ„ [IMPORTANT] â Secure your crypto with a Trezor or Ledger hardware wallet:
Trezor: âș http://trezor.cryptonewsalerts.net
Ledger: âș http://ledger.cryptonewsalerts.net
DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
Show Notes / Resources:
Bitcoin is *not* my safe word
â Buff Mage (@elonmusk) January 10, 2020
Post Views: 224 -
BITCOIN WILL HIT 0K IF REPEATS 2016 HALVING CYCLE PATTERN!! YEARN FINANCE (YFI) FLIPS BTC PRICE!!
âĄïž Tap into OPM (Other Peopleâs Money): http://opm.cryptonewsalerts.net
Bitcoin price needs to hit $340,000 just to match its performance from its last BTC halving cycle, data shows.
In a Twitter series on Aug. 20, popular statistics resource ChartsBTC noted that the BTC price still has huge room for growth at current levels of $11,700.
Comparing lows, highs and halving prices from its two previous Bitcoin halving cycles, ChartsBTC put the difference between peaks at 36x for the 2012 cycle and 17x for the 2016 cycle.
In order to repeat even the more modest cycleâs success, BTC/USD would have to trade at $340,000. 36x from last cycleâs high â Bitcoinâs all-time record of $20,000 â comes to $720,000.
Comparing cycle lows, the results are even more dramatic â the smallest jump of 130x from the previous cycle would deliver a Bitcoin price of $400,000.
Running the same diagnosis for Bitcoinâs price at the time of its halving events, the price target is $250,000.
âThe multiples from prior cycles applied to the current one arrive at highs between $250k and $1.6M in the next 18 months,â ChartsBTC summarized.
The account noted that while the math adds up, there is little evidence which demands that such levels really do appear within the given timeframe. âWhile this may sound exciting, itâs just hopium,â it added.
âThe prior highs and lows wonât dictate the future.â
In other trending Bitcoin News today:
Yearn Finance (YFI) Becomes First Altcoin to Exceed the Price of Bitcoin â Now What?
Yearn.financeâs native governance token YFI became the first-ever altcoin to surpass the price of Bitcoin (BTC) on Aug. 20.
It spiked to as high as $13,444 on Binance, fueled by the growing demand for Decentralized Finance, or DeFi.
Yearn.finance is a DeFi protocol that launched in July with no premine in a decentralized setting by developer Andre Cronje.
It is the first protocol on Ethereum that claims to give token holders all the power to govern the network.
Blockchain analytics firm IntoTheBlock said`:
âJust a month ago, the yearn.finance token was trading around the $1000 mark. #YFI is up more than 10x in one month, climbing to $10,551.25 yEarn Finance is the first project on Ethereum, whose governance is entirely in the hands of token holders.â
Cryptocurrency researcher Hasu explains yearn.finance as a platform that allows users to execute various investment strategies.
He says: âIf youâre not familiar with Yearn, you can think of it as a smart bank account that automatically allocates your assets to different low-risk investment strategies that execute on the Ethereum blockchain.â
The price of YFI, the governance token of the protocol, increased naturally as the total value locked in yearn.finance surged.
According to data from Defipulse, more than $670 million worth of capital is locked in yearn.finance.
Compared to other tokens, the price of YFI is high due to its unique monetary supply.
Its supply is capped at 30,000, which is significantly lower than most digital assets.
While the price of YFI has surpassed $12,000, its market capitalization remains below $400 million.
By market cap, it is the 45th biggest cryptocurrency in the global market.
As such, crypto startup investor Ian Lee explained that YFI surpassing Bitcoin is more of a psychological event than anything else.
He explained:
âYFI âflippingâ BTC price is arbitrary & more psychologically than practically important. What is important is what yearn.finance is doing & Andre Cronje is building in DeFi.â
Follow Us:
đ„ Blog/Podcast: http://CryptoNewsYes.com
đ„ Subscribe on YouTube: http://CryptoNewsAlerts.net
đ„ Subscribe on iTunes: http://itunes.cryptonewsalerts.net
đ„ Subscribe on Stitcher: http://stitcher.cryptonewsalerts.net
đ„ Subscribe on TuneIn: http://tunein.cryptonewsalerts.net
đ„ Follow on Twitter: https://twitter.com/CryptoNewsYes
đ„ Join our Private Crypto FB group: âș http://fb.cryptonewsalerts.net
đ„ Join our Private Crypto Telegram group: âș http://telegram.cryptonewsalerts.net
đ„ Binance â Buy, Sell or Trade Over 400 Altcoins: âș http://binance.cryptonewsalerts.net
đ„ [IMPORTANT] â Secure your crypto with a Trezor or Ledger hardware wallet:
Trezor: âș http://trezor.cryptonewsalerts.net
Ledger: âș http://ledger.cryptonewsalerts.net
DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
Show Notes / Resources:
15,000 followers đ„ł Thank you everyone! Let’s break down the #bitcoin cycles and see how well history is rhyming. /1High $32, Low $2, Halving $12High $1,163, Low $152, Halving $658
High $19,892, Low $3,129, Halving $8572 pic.twitter.com/LmsuGjDiiq
â ChartsBTC (@ChartsBtc) August 20, 2020
The $ghost project is calling me a loose cannon because I called them on their bullshit.If I am a loose cannon because I dropped my support for a failing project so be it.
I will not support bullshit.
â John McAfee (@officialmcafee) August 19, 2020
https://cointelegraph.com/news/yfi-becomes-first-altcoin-to-exceed-the-price-of-bitcoin-now-what
https://cointelegraph.com/news/bitcoin-will-hit-340k-if-btc-price-repeats-2016-halving-cycle-pattern
https://cointelegraph.com/news/john-mcafee-has-left-his-own-privacy-asset-project
Post Views: 220