HERE’S A REALISTIC PRICE PATH FOR BITCOIN THIS CYCLE, ACCORDING TO ON-CHAIN ANALYST!!!!!

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A Bitcoin (BTC) exchange-traded fund (ETF) has a 75% chance of being approved this month — in some form.

In comments this weekend, Eric Balchunas, senior ETF analyst for Bloomberg, said that United States Bitcoin futures ETFs were “likely on schedule” for the regulatory green light.

“Yes, the SEC has kicked can on bitcoin ETF approval BUT that is for the physically-backed ones under ’33 Act. The futures ETFs filed under the ’40 Act (which Genz loves) are very much alive and likely on schedule (we think 75% chance approved in Oct).”

In other trending Bitcoin News today: The Analyst That Nailed Aug and Sep Bitcoin Closing Price Predicts BTC at $63K in October.

PlanB’s BTC predictions for August and September were spot on and his October closing price sees bitcoin tapping $63,000.

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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://cryptopotato.com/the-analyst-that-nailed-aug-and-sep-bitcoin-closing-price-predicts-btc-at-63k-in-october/

https://cointelegraph.com/news/commodity-strategist-predicts-bitcoin-etf-could-get-the-nod-in-us-next-month

https://cointelegraph.com/news/futures-based-bitcoin-etf-has-75-chance-of-approval-in-october-analyst

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Eerie Bitcoin Fractal Predicts It May Be Just Weeks Before Bitcoin (BTC) Hits $14,000

After rallying as high as ~$10,100 on leading exchanges this week, Bitcoin plunged off a proverbial cliff.

Within 12 hours after hitting the highs, the cryptocurrency dipped by almost $1,000, crushed as long orders cascaded BTC lower.

While this was a bearish rejection at a crucial level, analysts are still bullish.

They cite a confluence of technical and fundamental factors showing that the BTC trend remains slanted to the upside.

Bitcoin’s recently price action may make it seem like a top is forming, but a fractal analysis from a leading analyst in the space has suggested the opposite.

“Fractals also refer to a recurring pattern that occurs amid larger more chaotic price movements.”

The analyst suggested that a fractal has formed between the start of 2019’s 300% rally and BTC’s price action over the past few weeks.

The fractal suggests that BTC will trade as high as $14,000 by the middle of July.

As a pertinent aside: the analyst who shared the chart below is known for observing accurate fractals, which predicted a number of key swings over the past year.

In other trending Bitcoin News today:

Three Altcoins Ready to Outperform Bitcoin (BTC), According to Crypto Analytics Firm Santiment

Crypto analytics firm Santiment says a handful of crypto market metrics indicate that Ethereum (ETH), Basic Attention Token (BAT) and Maker (MKR) all look more bullish in the short term than Bitcoin (BTC).

Santiment looked at each asset’s three-day averages in three metrics.

The first, Daily Active Addresses (DAA) vs. Price

Divergence, compares an asset’s price action to the number of unique crypto addresses interacting with that specific coin on a daily basis.

The metric views price action that outpaces DAA as a bearish signal, and vice versa.

The second, Network Value to Transactions Ratio (NVT), compares the value transferred on a specific network (transaction volume/token circulation) to the network’s market cap. If the transaction volume is low relative to market cap, an asset is considered overvalued and vice versa.

The third metric, Sentiment Volume Consumed, measures the sentiment of market participants on Twitter.

Santiment evaluated each asset using a simplified rating system: 0-10, with 0 representing the most bearish and 10 the most bullish.

A 5 implies a prediction of sideways consolidation.

Bitcoin scored a 3 on the DAA vs. Price Divergence metric, a 2 on the NVT, and a 6.5 on Sentiment Volume Consumed, for an average rating of 3.8, or “slightly bearish.”

Ethereum scored a 5 on DAA vs. Price Divergence, a 5.5 on NVT, and a 6 on Sentiment Volume Consumed, for an average rating of 5.5 (neutral).

Basic Attention Token scored an 8.5 on DAA vs. Price Divergence, a 9.5 on NVT, and a 6 on Sentiment Volume Consumed, for an average rating of 8.0 (bullish).

Maker scored a 9 on DAA vs. Price Divergence, a 10 on NVT, and a 5.5 on Sentiment Volume Consumed, for an average rating of 8.2 (bullish).

Santiment cautions that none of these scores are indicative of the firm’s long-term outlook on each asset.

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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:

Don’t lose sight of the HTF…Our prior resistance region has now been broken and is now being tested as support. Bulls remain in control and gunning for the highs again imo. HTF has been bullish since posting this weeks ago, hope you have been buying the dips. $BTC https://t.co/Q7k4bd86Q5 pic.twitter.com/WpVUf1wPGt

— Credible Crypto (@CredibleCrypto) June 4, 2020

Eerie Bitcoin Fractal Predicts It May Be Just Weeks Before BTC Hits $14,000

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Adam Back, the CEO of Blockstream who was quoted in Satoshi’s white paper, says that the Bitcoin price hitting $20,000 would’t seem surprising to him if that happened due to the current BTC market conditions.

“woke up to a vivid dream this morning, which took a moment to realize was a dream. sure you’ve had them once in a while. it was that bitcoin hit $20k overnight and then pulled back to $16k. didn’t seem surprising given the market conditions, so it wasn’t price that caused wakeup” – Adam Back

Bitcoin Could Rocket Higher

It is worth noting that Back accurately called Bitcoin’s recent price spike.

As reported by U.Today, he explained that dip buyers would soon start putting their cash to work.   

The drop that followed dampened bullish sentiment, but it remains to be seen whether this downtrend will continue.

With the U.S. Federal Reserve firing new bazookas and the Bank of England promising to print an unlimited amount of money, there hasn’t been a better time for Bitcoin (BTC) to shine. 

Bitcoin Price Analysis: BTC Continues To Be Resilient As Economy Tanks – Are We Headed Above $7,000 Next?

Bitcoin fell by a total of 4% over the past 24 hours of trading.

It had dropped much further lower but managed to find strong support at $5,786 which allowed the cryptocurrency to rebound higher and break back above $6,000.

The cryptocurrency is proving to be extremely resilient as it continues to stabilize whilst the rest of the economy around the world continues to fall further lower.

Short term prediction: NEUTRAL Bitcoin remains neutral and would need to close above $6,500 before we can consider a very short term bullish trend. 

Toward the upside, the first level of strong resistance lies at $6,175.

The coin has struggled with this resistance over the past 4-days of trading and failed to close above here on each attempt.

Above this, resistance lies at $6,542 (bearish .5 Fib Retracement) and $7,000. If the buyers continue to drive even further above $7,000, resistance lies at $7,100, $7,174 (bearish .618 Fib Retracement), and $7,270.

On the other side, support is located at $5,786. This is followed with support at $5,600, $5,500, and $5,467 (.618 Fib Retracement).

Key Levels Support: $5,911, $5,786, $5,600, $5,500, $5,467 $5,200, $5,000, $4,800, $4,672, $4,577, $4,139, $4,000, $3,912, $3,500, $3,436..

Resistance: $6,174, $6,542, $6,700, $6,800, $7,000, $7,174, $7,200, $7,270, $7,500, $7,676, $8,000, $8,073, $8,250, $8,461, $8,672, $8,979, $9,000, $9,100.

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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:

$btc will continue to be volatile over the next few months but the macro backdrop is WHY it was created. This will be and needs to be BTC’s year.

— Michael Novogratz (@novogratz) March 22, 2020

but don’t write off the value of liquidity, trading with less 3rd party custody, atomic trade – that’s part of the value of bitcoin. cypherspace zero trust things are very cool and literally a cypherpunk dream realized already https://t.co/AC5CnuFGlX

— Adam Back (@adam3us) March 21, 2020

https://u.today/bitcoin-btc-price-hitting-20000-wouldnt-be-surprising-for-blockstream-ceo-heres-why