The futures price of Hamster Kombat, a popular electronic trading asset, has experienced a significant drop in recent trading sessions. Market analysts have pointed to a combination of factors contributing to the sudden decline, which has sparked discussions among investors and traders about the future of this highly volatile asset.
Hamster Kombat has been a favorite among speculative traders, known for its rapid price fluctuations and high trading volumes. The recent decline in its futures price marks a notable shift in the market sentiment, which had previously seen a bullish trend in this asset class. The drop has been attributed to a mixture of broader market adjustments and specific developments within the trading environment.
One of the primary factors influencing the price drop is the ongoing recalibration of the electronic trading ecosystem. Market participants have been adjusting their positions in response to changes in liquidity and market-making activities, leading to increased volatility. The shift in trading volumes, along with heightened scrutiny from regulatory bodies, has also played a role in the downward pressure on Hamster Kombat futures.
Additionally, the asset’s price has been influenced by technical factors, including changes in trading algorithms and the recalibration of risk models by major market participants. These adjustments have resulted in a re-evaluation of the asset’s risk profile, prompting some traders to reduce their exposure.
As the market continues to react to these developments, the future of Hamster Kombat futures remains uncertain. Traders and analysts will be closely monitoring the situation to gauge whether this price drop represents a short-term fluctuation or a more prolonged trend.
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Three Altcoins Ready to Outperform Bitcoin | K BTC Price May Be Just Weeks Ahead
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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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BLOOMBERG: BITCOIN PRICE ACTION REMINISCENT OF 2015 BEFORE HISTORIC 100X BTC BULL CYCLE BEGAN!!
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Bitcoin may be breaking free from its correlation with the stock market and gearing up for a parabolic 2021, according to a new Crypto report from Bloomberg.
The financial news outlet’s latest monthly outlook on crypto calls BTC a “caged bull” that could be on the cusp of a massive long-term breakout.
“Bitcoin may undergo a parabolic 2021, as it did in 2013 and 2017, if previous patterns play out again. New highs are a next potential iteration for the firstborn crypto and may be only a matter of time unless something we don’t foresee trips up the trend of greater adoption and demand vs. constrained supply.
Favorable macroeconomics, akin to those buoying gold, supports the digital store-of-value, notably vs. the oversupplied broader crypto market…
Bitcoin may be in early days of ending its constraining relationship with the Nasdaq 100 Stock Index, in our view.
Technically, the Bitcoin-to-Nasdaq ratio near 1.2 on Oct. 27 has extended above 1.1 resistance that has held for about a year.”
According to the report, Bitcoin’s resistance at $10,000 may morph into resistance at $20,000 next year.
The report cites Bitcoin’s dwindling supply and ultimate cap of 21 million coins as a key driver placing the leading cryptocurrency on a positive trajectory.
It also names steady BTC buys from the institutional crypto asset manager Grayscale as a factor supporting Bitcoin’s price.
Bloomberg analyst Mike McGlone says Bitcoin’s 2020 price action is also reminiscent of 2015, ahead of a bull cycle that ultimately saw BTC rise by 100x.
“2020 Bitcoin may be 2015 launchpad deja-vu. Some key technical indicators portend a strong up-year for Bitcoin in 2021. In 2020, the benchmark crypto dipped below its 50- month moving average and 180-day volatility dropped below 40% at the start of November.
This price foundation pair was last matched in 2015 as Bitcoin bottomed near $200; it peaked about 100x higher in 2017. We see Bitcoin volatility declining with natural maturation and little chance of similar high-velocity appreciation, but the indication is clear: Unless something significant trips it up, the crypto’s price is ripe to advance in the coming years.”
In other trending Bitcoin News today:
“3 Primary Reasons Why Ethereum (ETH) Could Hit $500 in Q4”
A confluence of bullish fundamental and technical indicators sees Ethereum rallying upward towards $500 in the fourth quarter.
The second-largest blockchain asset by market capitalization has rallied by more than 200 percent in 2020, with its price trading just shy of $490 in early September.
Nevertheless, its uptrend paused as traders migrated to Bitcoin, the flagship cryptocurrency that earlier gained entry into the investment/service portfolios of significant corporations (Square, MicroStrategy, PayPal, etc).
#1 ETH/BTC Support
A slowdown in Ethereum’s dollar-based uptrend finds headwinds in the ETH/BTC chart.
The pair, which pits Ethereum directly against Bitcoin, is trading lower since August 31.
As of Thursday, it was down by more than 32 percent from its YTD high of 0.0406 sats.
#2 Ethereum Ascending Triangle
Ethereum’s correction from its YTD high followed by a subsequent pullback to the upside left its price in a consolidation channel.
That range, with a fixed horizontal resistance line and a trail of higher lows, made an Ascending Triangle pattern.
#3 Fundamentals
The reason why Ethereum could perform per its bullish technical expectations is a solid fundamental catalyst.
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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:
#Bitcoin may undergo a parabolic 2021, as it did in 2013 and 2017, if previous patterns play out again. New highs are a next potential iteration and may be only a matter of time unless something we don’t foresee trips up the trend of greater adoption and demand vs. limited supply pic.twitter.com/w742J7bXfC
— Mike McGlone (@mikemcglone11) November 4, 2020
https://assets.bbhub.io/promo/sites/12/917428_Crypto-Nov2020Outlook.pdf?link=button-header
https://cointelegraph.com/news/bitcoin-hits-14-7k-3-reasons-this-rally-may-see-new-all-time-highs
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BITCOIN CAN GO STRAIGHT TO $1 MILLION THIS BULL CYCLE!! ETHEREUM CO-FOUNDER BECOMES BILLIONAIRE!!
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Dan Held, head of growth at Crypto exchange Kraken in a new interview asserts that if Bitcoin can break $300,000, the bullish narrative surrounding the BTC may be so overpowering that there won’t be enough sellers to drive down the price.
“What happens when ownership of Bitcoin moves from 0.01% of the world to 1%? What happens when part of the $100 trillion managed by institutions flows into Bitcoin to preserve wealth?
It certainly won’t be going from $20,000 to $100,000. It could move from $20,000 to $1 million and then only have smaller cycles after. This may be one of the final big cycles.”
In other trending Bitcoin News today: Ethereum Co-Founder Vitalik Buterin Becomes Billionaire As Ether Hits $3K!
Vitalik Buterin, a co-founder of the world’s most popular smart contract platform, the Ethereum blockchain, has officially become a crypto billionaire.
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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://cointelegraph.com/news/btc-price-nears-60k-showdown-5-things-to-watch-in-bitcoin-this-week
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