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

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Compared to the Bitcoin price analysis of the previous two weeks, this weekend has been relatively relaxed for Cryptocurrency traders.

On Saturday the BTC price came within $10 of $10,000 before pulling back to $9,794.

Despite the inability to hold above $9,900, the shorter timeframe also shows Bitcoin (BTC) price painting higher lows since the drop on Feb. 19 to $9,352 and the price is also holding well above the 20-MA of the Bollinger Bands indicator.

A high volume surge could easily push the price to the upper Bollinger band arm at $10,126 but Bitcoin would still have some challenges ahead.

If Bitcoin can hold the $9,850 support and push above $9,883, we could see the price rise to $10,200 as it is currently sandwiched between VPVR nodes at $10,210 and $9,892.

In an earlier analysis, Cointelegraph contributor Keith Waring explained that $10,000 is a less important level to attain when considering that a significant resistance at $10,300 awaits.

Waring also notes that even though Bitcoin’s current setup strengthens the probability of the price retaking the $10K mark, the CME close at $9,740 on Feb. 21 means traders believing in the CME gap narrative will hold their powder with the expectation of the price revisiting the gap.

Meanwhile, crypto analyst Micheal Van De Poppe has taken a more bullish point of view, tweeting the above chart and saying:

“Retest done. As long as this level remains support, I’m expecting continuation towards $11,000 / $11,600.”

WHY BITCOIN MAY NOT SKYROCKET IMMEDIATELY AFTER HALVING

To form a Bitcoin price prediction analysts generally look at previous market patterns and events.

The two BTC halvings that have already occurred may offer some indication as to what will happen after the next one, and there might not be the big pump that is expected.

With less than 78 days to go to the halving, the debate is raging on as to whether prices are already factored in or not.

Opinion is pretty evenly divided between those that believe prices are not factored in and there will be a pump, and those that think the opposite will occur.

Binance boss Changpeng Zhao appears to be leaning towards the latter group with a recent post depicting charts that show flat markets following previous halvings.

“History may not predict the future, and correlation does not prove causation… Watch what happens AFTER halving. Markets are inefficient, at least, historically.”

Markets did indeed remain flat for several months following the first halving in 2012.

Only in 2013 did they start to run with an epic gain of around 8000% from $13 to over $900.

A bear market followed in 2014 then momentum started to build the following year in the lead up to the 2016 halving.

Following that one there was very little activity until 2017 when momentum started building again and bitcoin surged from around $1,000 to over $20,000.

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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:

History may not predict the future, and correlation does not prove causation.

Here are just 2 charts around the previous #bitcoin halving. Watch what happens AFTER halving. Markets are inefficient, at least, historically.

Just data, draw your own conclusions. pic.twitter.com/AwChmAGvrK

— CZ Binance 🔶🔶🔶 (@cz_binance) February 23, 2020

https://www.tradingview.com/chart/BTCUSD/rpbLc78K-Bitcoin-ready-for-retest-of-9-400-before-move-towards-11-000/

https://bitcoinist.com/why-bitcoin-may-not-skyrocket-immediately-after-halving/

https://cointelegraph.com/news/bitcoin-price-rebounds-but-cme-gap-103k-remain-big-obstacles

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MicroStrategy CEO, Michael Saylor says once Bitcoin passes the market cap of gold, around $11 trillion currently, nothing will stop BTC.

Saylor, a true Bitcoin bull who currently holds 105,000+ BTC on his corporate balance sheet, sees Bitcoin capable of reaching a market cap of $300 trillion in the long run. 

He talks about a future goal. With a market cap of $300T, the Bitcoin price would be around $14 million per BTC.

In other trending Bitcoin News today: Argentina’s President: No Reason to Push Against Adopting Bitcoin!

The president of Argentina has indicated that there’s no reason why the country would push back against potential Bitcoin adoption.

El Salvador’s decision to adopt BTC as a legal tender has rattled the cages in Central and South America. Argentina’s president was the latest to showcase support to some extent in a recent interview.

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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://finance.yahoo.com/news/1-bitcoin-worth-10-years-210751579.html

https://cointelegraph.com/news/ada-hits-2-first-the-time-since-may-ahead-of-cardano-smart-contract-announcement

https://cointelegraph.com/news/bitcoin-cancels-entire-day-s-btc-price-dip-with-fresh-push-above-46k

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Bitcoin (BTC) will trade between $20,000 and $50,000 according to top Cryptocurrency analyst Simon Peters of eToro.

In other trending Crypto news today:

Ethereum (ETH) Just Saw A Key Technical Breakout And $230 Seems Imminent

Since March’s capitulation lows of $3,700, Bitcoin has performed extremely well, recently rallying to $10,000.

It’s a level that BTC has traded above only for 5% of its history.

The move from the lows has undoubtedly been impressive, with Bitcoin attracting mainstream media attention as the world grapples with a recession.

Though analysts remain optimistic, asserting that new all-time highs past $20,000 are likely in the years ahead.

Analysts touting this sentiment include Galaxy Digital’s Mike Novogratz, Raoul Pal of Real Vision, and Dan Morehead of Pantera Capital — all former institutional traders turned crypto bulls.

There are also individuals like the Winkelvoss Twins, who are behind the Gemini crypto exchange, who buy into this as well.

Another is Simon Peters, analyst at eToro who told Bloomberg that in the next 18 months, Bitcoin will trade between $20,000 and $50,000.

For most of these individuals, the bullish sentiment comes down to one thing: central banks and governments.

Over the past few weeks, to respond to the growing economic crisis caused by the outbreak of COVID-19 and the subsequent lockdowns, the world’s monetary and fiscal authorities have printed trillions of dollars.

The Federal Reserve alone has added over $2 trillion to its balance sheet in the past two months, while the White House has signed off on trillions of dollars worth of stimulus.

The aforementioned Bitcoin proponents expect this macroeconomic trend to rapidly prove the value of a scarce and decentralized asset.

As Novogratz explained in a recent CNN interview:

“We have quantitive easing over quantitative easing all over the world, not just in the U.S. […] On the flip side, Bitcoin’s halving is basically ‘quantitative tightening’. So you have this exclamation point on the story of a scarce asset.”

Ethereum is up more than 5% and it broke the key $205 resistance against the US Dollar.

ETH price remains well supported and it is likely to continue higher towards $230.

After forming a strong support base above $192, Ethereum price started a fresh increase against the US Dollar. 

Bitcoin price also gained pace towards $10,000, resulting in an upside break above the $200 resistance zone.

The price surged above the $205 resistance and the 100 hourly simple moving average.

Ether is up more than 5% and it is now trading near the $215-$216 resistance zone.

An initial support is near the $214 level.

The 23.6% Fib retracement level of the recent rise from the $206 low to $216 high is also near the $214 level.

The first major support is seen near the $212 level, where the bulls might take a stand.

More importantly, there is a key bullish trend line forming with support near $210 on the hourly chart of ETH/USD.

The trend line is close to the 50% Fib retracement level of the recent rise from the $206 low to $216 high.

If Ethereum starts a downside correction, it is likely to find bids near the $212 and $210 levels.

Any further losses may perhaps lead the price towards the main $205 support zone (the recent breakdown zone).

If the bulls fail to keep the price above the $205 zone, there are chances of a renewed downtrend towards $192.

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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:

ECONOMY dying. FED incompetent. Next BAILOUT trillions in pensions. HOPE fading. Bought more gold silver Bitcoin. GOLD @$1700. Predict $3000 in 1 year. Silver @ $17. Predict $40 in 5 years. Bitcoin @$9800. Predict $75000 in 3 years. PRAY for the BEST-PREPARE for the WORST.

— therealkiyosaki (@theRealKiyosaki) May 16, 2020

This started as a joke, but now I’m afraid I’ll never be able to log in to Twitter again without someone getting angry I don’t own Bitcoin. One day you’ll see a wizened old woman in the street, trying to trade a Harry Potter book for a potato. Be kind. She did try to understand.

— J.K. Rowling (@jk_rowling) May 15, 2020

https://cointelegraph.com/news/bitcoin-price-charts-hint-at-the-most-exciting-breakout-in-over-a-year