TRON (TRX) IS OVERRUN WITH DAPP BOTS! | Bulls Push Bitcoin Price to a 2-Week High, is ,700 Next?

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The pseudonymous crypto trader who accurately predicted the Bitcoin collapse of 2019 says BTC is due for one more test before launching a mega bull rally.

In a new tweet, the analyst who is known in the industry as Dave the Wave says it is within the realm of possibility for Bitcoin to continue consolidating for the rest of the year.

“What if the major line of resistance first identified became a rough line of support for price to grind down slowly over the course of the fourth quarter to meet the log growth curve? This would set up perfectly for the run up going forward…”

Based on the crypto analyst’s chart, Bitcoin may continue hovering above the former resistance of the ascending triangle that ended the 2017 BTC bull run and kept the market bearish for over two years.

Dave’s chart also shows that the previous resistance and the logarithmic growth curve will touch base on December 31st, 2020.

According to Dave, the meeting of two support lines can ignite a bull market that catapults the Bitcoin price to $120,000.

Should Bitcoin follow Dave’s script, he says the consolidation should give investors a chance to accumulate BTC in the buy zone for several months before it launches a manic phase.

In other trending Bitcoin News today:

New Bitcoin-Stablecoin Metric Reveals ‘Intense’ Buy Pressure

A new Bitcoin (BTC) metric says that investors are still much more interested in buying than selling at $10,000.

In a tweet on Sep. 7, Ki Young Ju, founder of on-chain analytics resource CryptoQuant, unveiled his latest tool for tracking Bitcoin investor sentiment.

Dubbed “Potential BUY/ SELL Pressure,” the tool takes exchanges’ total BTC reserves and divides them by stablecoin reserves.

The resulting number provides a rough impression of trader appetite, and it is currently skewed to the bullish side.

“BTC still has intense buy pressure. Exchanges are holding more stablecoins and fewer BTC compared to the beginning of this year,” Ki tweeted. 

“I think we still have room for BTC bullish trend.”

Ki added one proviso to the data — that exchange traders could use stablecoins to purchase cryptocurrencies other than BTC as well as hold Tether (USDT) to buy at lower prices later.

The environment on exchanges is decidedly in a state of flux with Bitcoin’s latest price action. 

Tether, the largest stablecoin, has passed a total market cap of $14 billion, while other recent data also suggested that buyers were looking to use stablecoin assets to snap up BTC at lower prices.

That came in the form of Glassnode’s stablecoin supply ratio (SSR), which recorded a level three times stronger in late August than in June 2019, when BTC/USD traded at an identical price point — $11,400. 

In other trending Cryptocurrency news today: Top Analyst Names 8 DeFi Gems Set to Pop, Says Bitcoin and Four Altcoins Worth Holding for Long Run Closely-followed trader and crypto strategist Josh Rager is eyeing a handful of decentralized finance (DeFi) assets along with a small number of cryptocurrencies that he deems worthy to hold long term.

In a new tweet, Rager says he sold some of his positions on altcoins that he doesn’t want to hold for the next 12 months.

The trader says he feels secure in making long-term investments in Bitcoin (BTC), Ethereum (ETH), and Chainlink (LINK), Zcash (Zec), and Polkadot (DOT).

Rager’s optimism in the top cryptocurrency comes as Bitcoin bulls stepped up and successfully defended key support of $10,000.

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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:

Right now my position is in more secure long term holds $BTC $ETH $LINK $YFL etcAlso holding a decent amount of cash & cut some moderate positions on alts that I don’t care to hold for another year

Didn’t sell the top but still booked nice profits & will continue to yield farm

— Josh Rager 📈 (@Josh_Rager) September 7, 2020

What if the major line of resistance first identified here [first chart above] became a rough line of support for price to grind down slowly over the course of the fourth quarter to meet the log growth curve? This would set up perfectly for the run up going forward… pic.twitter.com/KUCBrNGdjH

— dave the wave (@davthewave) September 5, 2020

https://dailyhodl.com/2020/09/08/top-analyst-names-8-defi-gems-set-to-pop-says-bitcoin-and-four-altcoins-worth-holding-for-long-run/

https://cointelegraph.com/news/new-bitcoin-stablecoin-metric-reveals-intense-buy-pressure-analyst

💰 Crypto’s Next $1 Trillion Coin: http://teeka.cryptonewsalerts.net

Closely-followed cryptocurrency trader Michaël van de Poppe is unveiling how high Bitcoin, Ethereum, Cardano and a handful of other crypto assets can rise before this bull market expires.

In a new tweet, Van de Poppe tells his 192,000 followers that he expects Bitcoin (BTC) to end the bull market with a price tag between $350,000 and $450,000. From BTC’s current value of $58,427, the trader’s apex target represents an upside potential of over 670%.

In other trending Bitcoin News today:

XRP Surpasses $1 For The First Time Since 2018: What’s Behind The New Rally?

The price of XRP has surpassed $1 on April 6 for the first time since March 2018, putting its market valuation at around $47 billion.

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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/xrp-surpasses-1-for-the-first-time-since-2018-what-s-behind-it

https://cointelegraph.com/news/bitcoin-s-1-trillion-market-holds-for-10-days-straight

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The BTC price faced a serious downturn this week, shedding more positions from above $9,500.

Now, the Bitcoin price is fighting for key support levels, in case it breaks down closer to the low $8,000s.

Bitcoin bounced on Friday, moving to $8,659.07 after dipping twice to the $8,500 tier.

At these price levels, the accounts in the money and out of the money are pretty well balanced.

The latest IntoTheBlock report shows that bitcoin may put up a serious fight around the $8,600 to $8,900 level, where 873,000 addresses are holding onto 643,000 BTC.

If that level breaks through, there are other signs of possible support levels between $8,100 and $8,300.

At that area, defense may come from an even larger group of 810,000 holders, who bought 593,000 BTC at this price point.

Addresses out of the money, if they decide to liquidate, may pose resistance at above $9,150.

But overall, the robust number of addresses in the money may lead to “hodling” behavior, giving bitcoin more resilience.

Chainlink (LINK) Up 40% despite Ongoing Crypto Meltdown; More Gains Coming?

Chainlink’s native token LINK was among the biggest gainers as a majority of assets in the crypto market plunged deeply earlier this week.

The eleventh-largest cryptocurrency beat the bearish odds to grow by more than 40 percent since February 26.

It established a week-to-day high at $4.38 in early Saturday trading, hinting its inclination to behave as a hedge against Bitcoin, the top asset that plunged by circa 16 percent this week.

“Chainlink is receiving tremendous exposure during this BTC, ETH retrace. It’s performing with the lights on. There will be a sizable increase in wallets. More excited evangelists. More tweets. More buying, less selling. Welcome All To The Brotherhoood. LINK”

The safe-haven narrative was not in play during most of the February session.

The LINK-to-USD exchange rate slipped almost in tandem with the rest of the crypto market after settling its year-to-date high of $4.90.

It was down by up to 36 percent before it even attempted a pullback.

But Chainlink validated its key supports, which other cryptocurrencies failed to maintain.

The coin bounced back from its 50-day moving average, showing higher buying interest near the area. It was not the case with Bitcoin or XRP, which plunged below their short-term moving averages in massive sell-off rounds.

Chainlink’s ability to maintain its crucial floors led to a decent recovery this week, opening up the possibilities of extended upside momentum in the next.

“A bullish retest of the monthly close bought up recently,” said popular market analyst CryptoGainz. [There is now] zero resistance above. Absolute juggernaut. No reason to think [LINK] won’t outperform the field again next month.”

2020 #bitcoin halving will not be an easy ride:– US/Mnuchin: draconian anti-btc laws– Craig Wright: legal & patent FUD– Hacks: like 2016 halving (DAO,Bitfinex)– MtGox & PlusToken selling narrative– Miner death spiral & futures FUD– Forks

Risk vs S2F:https://t.co/FIMcEZWDPn

— PlanB (@100trillionUSD) February 18, 2020

Massive $68 Trillion Wealth Transfer Bullish for Bitcoin (BTC), Says Crypto Influencer

A looming, massive transfer of wealth is one of the single largest reasons to be bullish on Bitcoin, according to crypto influencer Nick Chong.

Chong, a journalist and marketer at the HTC Exodus Bitcoin division, says Millennials will likely funnel a portion of inherited wealth from their parents and grandparents into BTC, a shift that bodes well for the leading cryptocurrency’s long-term prospects.

“Bitcoin’s most bullish statistic: millennials will inherit $68 trillion from baby boomers. Why? Confluence of distrust in institutions, devaluation of fiat, shift from gold to BTC, and the growth of digital tech will make Bitcoin investing a no-brainer.”

Cerulli Associates, an asset management research firm, estimates nearly 45 million US households will hand over $68.4 trillion in wealth to heirs and charity in the next quarter century.

Chong cites an April 2019 report from venture capital firm Blockchain Capital, which indicated that millennial interest in Bitcoin was increasing despite the bear market at that time. 

Wrote Spencer Bogart, a general partner at the firm,

“Younger demographics appear most inclined to purchase Bitcoin: 42% of those aged 18–34 said they are ‘very’ or ‘somewhat’ likely to purchase Bitcoin in the next 5 years — up 10 percentage points from 32% in October 2017.”

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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:

#Chainlink is receiving tremendous exposure during this $BTC, $ETH retrace. It’s performing with the lights on. There will be a sizable increase in wallets. More excited evangelists. More tweets. More buying, less selling. Welcome All To The Brotherhoood. $LINK

— John Cioffoletti (@JohnCioffoletti) February 27, 2020

Where’s money going? It’s clear money’s going into US10Y bonds (Blue). Money was going into Gold until recently (Black). Bitcoin (Orange) continues to be dragged down with stocks (Green) at this point.

BUT, the stage is set for #Bitcoin to do it’s own thing this weekend. $BTC pic.twitter.com/pZzgh225lK

— Alex Saunders (@AlexSaundersAU) February 28, 2020

With Crypto Markets, Gold, Stocks Falling, Where is the Money Going?

Chainlink (LINK) Up 40% despite Ongoing Crypto Meltdown; More Gains Coming?

Bitcoin Price Could Recover If Bulls Defend These Key Levels