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Crypto analyst Justin Bennett expects that crypto investors will face much more volatility in the weeks ahead and warns some traders will be shaken out of the market. Bennett argues that the recent Bitcoin crash in BTC price was driven by wealthy players who now have an opportunity to increase their positions in the flagship cryptocurrency.
In other trending Bitcoin News today: BTC Crash Reveals Resiliency of Crypto Markets, Lack of Systemic Risk, Says Macro Guru Raoul Pal! The former Goldman Sachs executive says the crypto industry largely absorbed the downtick in price without punishing anyone but speculators.
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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.
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BTC Halving 2020 | Two Years of Upside? Bitcoin Yearly Candles Hint Explosive Price Growth Incoming
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http://trade.cryptonewsalerts.netWith the next BTC halving 2020 event just 5 months out, the Bitcoin price might be a long way off its 2019 high of almost $14,000 but this year has still seen the BTC price gain 94%.
The year opened with the leading cryptocurrency trading at just below $3,800, considerably less than its current price of around $7,300.
Although yearly price data is clearly limited, if previous years are anything to go by Bitcoin (BTC) looks set to post two more years of gains.
There seems a pattern emerging that sees a year of decline follow three years of upside.
Some traders and market analysts believe that the next halving will result in another parabolic run up in Bitcoin prices, like those seen in 2017 and 2013.
PlanB argues that the reduction of new Bitcoin regularly hitting the market will eventually see the price rise to around $55,000 per Bitcoin.
The analyst makes no prediction as to when this will occur. However, given that the stock-to-flow theory of Bitcoin’s value centers around the halving events every four years, if PlanB’s prediction comes true, we will see a $55,000 Bitcoin at some point within the four years following May 2020.
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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.
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BITCOIN (BTC) BREACHING ‘THIS LEVEL’ WILL TRIGGER MARKET FIREWORKS | B in Stablecoins Ready To Go
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BITCOIN (BTC) BREAKING THIS LEVEL WILL VALIDATE BULLS, HURT BEARS
Although the Bitcoin price seems volatile, the cryptocurrency has been in a period of consolidation over the past two weeks, stalling in the high-$6,000s and the low-$7,000s after briefly interacting with the highs of $7,470.
Bitcoin seems to be stuck between a rock and a hard place, with any move below $6,700 being bid heavily and $7,300-$7,400 failing to crack due to that zone’s historical importance to the market.
But according to a prominent crypto analyst, if a certain price point is reached, fireworks — or a rapid move higher, in other words — are likely to follow.
A trader with the moniker CryptoYoda — who has garnered over 200,000 followers on Twitter — on Saturday released the latest iteration of his technical analysis newsletter series, the Letters from Dagobah.
In it, he explained that while the market structure is leaning bearish due to the existence of a rising wedge formation and a head and shoulders pattern — two trends that are bearish by textbook definition — Bitcoin breaking $7,475 would invalidate the bear case, “pushing Bears out of their positions while inviting Longs buying the Bears’ pain”:
“A takeout of that High could lead to massive covering of Shorts and buying on volume leading to a strong rally, especially as buyers have already eaten through the Resistance levels of previous Lows.”
What he’s explaining is that if Bitcoin manages to set new highs, it will prove that the ongoing consolidation is not indicative of a top, but is instead consolidation proceeding bullish continuation, likely to $8,000 and beyond.
Importantly, the analyst did admit that if this breakout can take place, there remains “significant overhead Resistance” with the daily 100 and 200 exponential moving averages at $7,600 and $7,900, respectively.
$3,000,000,000 in ‘Dry Powder’ Poised to Enter Bitcoin (BTC) and Cryptocurrency Markets: Messari CEO
The CEO of blockchain database startup Messari says there’s a huge amount of crypto capital sitting on the sidelines, ready to move into Bitcoin, Ethereum, XRP and the greater altcoin markets.
Ryan Selkis cites new data that shows cryptocurrency exchanges are now holding over $3 billion in stablecoins on behalf of their customers.
He says these investors are in a strategic position to re-enter the speculative crypto market at a moment’s notice.
“There’s now $3 billion++ of stablecoins sitting on exchanges. If investors wanted to cash out of crypto completely, they would have withdrawn funds to banks. Instead, we’ve got more dry powder held in the crypto economy than ever before. In both real and market cap % terms.”
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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.
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Bitcoin Breaching This Level Will Trigger Market Fireworks: Analyst
https://u.today/active-bitcoin-btc-supply-hits-new-high-in-6-months-as-hashrate-drops
https://yoda.substack.com/p/the-attempted-break
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MAX KEISER REAFFRIMS HIS 0K BITCOIN (BTC) PREDICTION; ETH, BSV, BCH, AND DEFI SCAMS GO TO ZERO!!
➡️ September 9th – Teeka Tiwari’s ‘Set For Life’ Summit: Register here: http://teeka.cryptonewsalerts.net
In a recent interview with Cointelegrpah, Max Keiser, host of the Keiser Report reaffirms his $400K Bitcoin price prediction while ETH, BSV, BCH, and DeFi scams go to Zero.
Max sees the BTC price climbing to $28,000 in the short term before seeing any major pullback and goes on to share that his $100,000 Bitcoin price prediction he made back in 2011 is still currently in play.
He recently increased his $100,000 Bitcoin prediction to $400,000 because he’s completely confident in that BTC will compete with gold.
In other trending Bitcoin News today:
$100,000 Bitcoin Prediction From Three Arrows Capital CEO Goes Viral As BTC Holds Above $10,000
A Bitcoin prediction from the CEO of the fund management firm Three Arrows Capital is going viral.
In a post on Friday, Su Zhu initially predicted that he expected Bitcoin to pull back to below $9,000.
“Reality is that markets frequently retrace one third or more in bull markets after local euphoria. BTC $8,800 and ETH $320 are perfectly healthy targets and your trading plan needs to incorporate nonzero probabilities to such levels.”
But the top cryptocurrency appears to be defying Zhu’s expectations as it continues to hold steady above support of $10,000.
According to the executive, Bitcoin’s resilience is a sign that the top cryptocurrency will reach monumental heights.
“ETH $320 as a bottom made sense and played out; BTC I am actually flabbergasted by the strength shown at $10,000 and probably means $100,000 is more likely than $5,000 at this stage.”
In addition to Bitcoin, Zhu is closely monitoring the action in the decentralized finance (DeFi) space.
He says there’s much to be learned from the craze and its various exit scams and scandals.
Zhu believes that while there’s a lot that can be improved in DeFi, the nascent sector has the potential to rise up and compete with the more established centralized finance (CeFi) markets.
In other trending Cryptocurrency news:
Top Strategist Outlines Path Ahead for Bitcoin, Ethereum, and XRP After Major Market Correction
“Bitcoin – finally, liquidity at the lows taken. Reclaim of $10,000 would mean a S/R flip and a very probable chance we’ll look for liquidity above the range highs.
That would suit a bounce towards $10,750-10,900 and majority of the markets bounce 25-40%.”
As for Ethereum, Van de Poppe still believes in the coin’s long-term bullish potential even amid the heavy correction.
“ETH is one of the coins you’d want to hold for the coming years. The lower, the better.”
Although the trader remains optimistic that ETH will eventually regain its bullish tone, he’s not eliminating the possibility that the second-largest cryptocurrency can go below $300.
“What is the level to hold for Ethereum? Clearly, it is the $245 area. If we get into this zone, that might be the long opportunity of a lifetime, if we get anywhere close to the weekly level around $245.”
Should Ethereum hit support at $245, Van de Poppe says the pullback could set up the coin for a major rally to $800.
Meanwhile, van de Poppe is looking forward to buying the dip in XRP. The fourth-largest cryptocurrency has hit his first buy target at $0.2458 in the midst of a retracement, and Van de Poppe is eyeing support at $0.21245.
“XRP Takes ages, but we’ll get there.”
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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.
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One of the massive levels of $ETH is coming up.If you want to catch a long, that’s one of those zones.
First bounce area towards the $400 zone.$ETH is one of the coins you’d want to hold for the coming years.
The lower, the better. pic.twitter.com/sm1iPgbGYi
— Crypto Michaël (@CryptoMichNL) September 5, 2020
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