BITCOIN PRICE TARGETING 0K IN NEW MARKET CYCLE | BTC Could Explode 100% and Hit ,000 by May

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The Bitcoin price has continued its cataclysmic November, with BTC dropping further overnight to $6,500, levels not seen since this May. 

In today’s show, we examine the following 4 Reasons Why Bitcoin Price Continues to crash:

In other Cryptocurrency news today…

Market analyst says, “The BTC price is headed for $20,000 – $25,000 zone next year.”

The Crypto market has been a disappointment lately. Lackluster bitcoin price action has intensified overall selling activity. But things are in for a welcome change, as BTC is expected to explode next year. 

Crypto Michael shared on twitter:

$BTC #BITCOIN All in all, the long-term trend is still fine, aside from a parabolic explosion earlier this year (which is an outburst to the upside). Keeping the trend intact -> market is fine. Onwards to $20,000-25,000 in 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.

Show Notes / Resources:

Whatever movements there are now (whether we go back to $7,800 prior to any further downwards movements), I do believe that the asset $BTC is one of the few bullish assets macro wise for the coming years.

Bottoming $6,200-6,500? Hell yes, I’ll be happy. Stack some more BTC.

— Crypto Michaël (@CryptoMichNL) November 24, 2019

$BTC #BITCOINAll in all, the long-term trend is still fine, aside from a parabolic explosion earlier this year (which is an outburst to the upside).Keeping the trend intact -> market is fine.

Onwards to $20,000-25,000 in 2020. pic.twitter.com/uednu3jgo4

— Crypto Michaël (@CryptoMichNL) November 23, 2019

Not making reference to manipulation. Bitmex is now collecting in fees as much as 7% as all miner issuance combined, maybe slightly less given how fees are not flat. A large percentage is sold into the market. A significant sum for a single entity.

— Alex Krüger (@krugermacro) November 25, 2019

Added liquidity can only help price, but $BTC doesn’t respond to macro variables.It is such an illiquid/fragmented market that in the absence of mass influx of new buyers, actions of a few determine direction. Micro, not macro.

Only narrative still standing is the halving/s2f.

— Alex Krüger (@krugermacro) November 24, 2019

Bitcoin Price Headed For $20k – $25k Zone Next Year: Analyst

4 Reasons Why Bitcoin Price Continues to Crash

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Over the past few weeks, investors have begun to doubt the veracity of the assertion that “BTC is on the verge of its next bull run.”

While there are reasons to believe this is the case, an analyst has asserted that per one key metric, the Bitcoin price has “never been more bullish.”

The past few weeks have undoubtedly been weak for the cryptocurrency market; the BTC price has collapsed from the $10,500 high to a price as low as $8,400 established just this weekend, while the hash rate of Bitcoin has stagnated.

But, according to the latest data from Blockchain.com, miners are once again allocating many resources to the security of the world’s largest cryptocurrency.

Case in point: the hash rate of the Bitcoin network reached a new all-time high of 136 exahashes (or 136,000,000 terahashes) per second just two days ago – nearly three times higher than it was one year ago.

Commenting on the significance of this, crypto price tracking app Blockfolio wrote:

“As Wall Street experiences the worst week since the 2008 financial crisis, Bitcoin’s hash rate has just reached a new all-time high. 136,264,908 tera hashes per second.”

This optimism has been echoed by analyst RookieXBT, who noted on Tuesday that the hash rate is almost “~940% from where it was when Bitcoin (BTC) was at an all-time high” of $20,000.

This, RookieXBT wrote, is a sign that “Bitcoin has never been more bullish.” Indeed, growth in the hash rate of the network suggests at least two things: 1) Bitcoin miners are confident in the long-term success of the cryptocurrency (especially in terms of price) and allocate more resources to the security of the network; and 2) the technology of mining machines is being improved on, resulting in the increase in hash rate.

Chainlink (LINK) Nears $5 All-Time High Unfazed by Bitcoin Price Slump

Chainlink’s (LINK) 27.48% gain over the past four days shows that the altcoin continues to function as an outlier when compared against the recent performance of other cryptocurrencies.

This strong recovery from the swing low at $3.30 to $4.79 has LINK now approaching its previous all-time high at $4.86. 

Unlike Bitcoin (BTC), LINK trading volume has shown that traders are excitedly buying each dip and the candlesticks of the past 3 days clearly show that a strong reversal has occurred. 

In the daily timeframe, the moving average convergence divergence (MACD) shows a bull cross between the MACD and signal line and the histogram has recently popped above 0, a rather compelling move considering that the altcoin has already gained 26.57% since March 2.

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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/chainlink-link-nears-5-all-time-high-unfazed-by-bitcoin-price-slump

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Popular on-chain analyst Willy Woo says that Bitcoin is poised to hit the six-digit price range once its retracement is over.

According to Woo, his top model is flashing a new price target for Bitcoin at $157,000. However, he predicts that once Bitcoin resumes its bull trend, he expects the model to hike up the price target.

“If we squeeze out of this accumulation band like I’m expecting, I would say that we will start curving upwards into the $250,000 to $350,000 range. Sounds a bit ludicrous right now, but that’s what the model says.”

In other trending Bitcoin News today: 10X User Growth in Sight by 2022 for Emerging Crypto Sector, Says Venture Capital Head!

Successful crypto-focused venture capitalist Arthur Cheong is making some bullish predictions for Ethereum and the decentralized finance (DeFi) sector for the rest of 2021.

He predicts that by the end of the year, the number of DeFi users could multiply between five and 10 times, pending scaling solutions.

“I’m looking forward to this crossing 5 million and 10 million probably by the end of the year. I think it’s possible if we have a very successful scalin

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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 Showing Signs of Potential Bounce: Crypto Analytics Firm Santiment

https://cointelegraph.com/news/brazilian-securities-regulator-approves-ether-etf

https://cointelegraph.com/news/bitcoin-price-can-only-go-up-if-30k-accumulation-reset-continues-research