BITCOIN SELLING FOR ,000 IN IRAN! | Why The BTC Price Could Hit K In 2020

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DARING ANALYST CALLS BITCOIN CRASH TO $2.4K SOON

With market data showing a range of conflicting signals, one analyst has now made a bold prediction that the BTC price will soon see its largest collapse in over a year.

Whereas investors should consider all possibilities, such a bold assumption is certain to be controversial.

This claim of a possible major drop comes from The Moon who has tweeted: “Possible Bitcoin bear flag on the 4-hour chart. The target will be approximately $2,400 if the bear flag support breaks.”

He bases his argument on the four hour price chart, which clearly indicates a bear flag, yet does not necessarily coincide with other timelines. It is worth noting, however, that The Moon also successfully predicted the Bitcoin price drop which took place on March 12th.

Given the heightened volatility over the past few weeks, Bitcoin (BTC) analysts have come out with a range of predictions. It is thus difficult to know which data is most telling of the market’s next moves.

The most basic indicators signal continued price swings in the short term, yet a stronger recovery over the next few weeks.

Many conclusions can be reached using chart data alone, which is why other market considerations should be examined when making BTC price predictions.

There are presently no shortage of larger indicators that analysts have been using to emphasize Bitcoin’s remarkable potential for big gains.

These include the impending block reward halving, a significant increase in overall blockchain activity, and an increasing interest in using Bitcoin as a financial safe haven.

Bitcoin continued to trade near $7,000 on March 27 after traditional markets showed bullish signs and the Dow Jones had its best day in 87 years.

Having preserved support at the lower end, Bitcoin saw its third consecutive day above $6,000 as coronavirus misery appeared to abate for some parts of the world’s financial system.

They were building on the success of the Dow, which on Wednesday saw its biggest one-day growth since 1933 at 20%.

For the Wall Street Journal, this was even enough to call a bull market.

That, in turn, followed an announcement from the United States Federal Reserve to print unlimited amounts of money, something which immediately pumped markets but rattled Bitcoin proponents.

While Bitcoin continued to fluctuate, data suggested that traders were not in the mood to sell — according to monitoring resource Glassnode, exchange balances were at an eight-month low as of Thursday.

“Despite the volatility, Bitcoin holders appear to be withdrawing their funds from exchanges. Outflow has been increasing daily since March 18,” the company summarized on Twitter.

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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:

Breaking: A new bull market has begun. The Dow has rallied more than 20% since hitting a low three days ago, ending the shortest bear market ever. https://t.co/06YS0XqWGP

— The Wall Street Journal (@WSJ) March 26, 2020

Daring Analyst Calls Bitcoin Crash to $2.4K Soon

https://cointelegraph.com/news/bitcoin-price-holding-65k-as-media-calls-new-bull-market-in-stocks

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Widely followed on-chain analyst Willy Woo predicts Bitcoin will ‘go nuts’ in the coming months as long-term holders continue to accumulate the leading cryptocurrency (BTC).

“This is a macrocycle thing. You would have seen it at the 2015, 2014 bottom. You saw it at the 2019 bottom, and actually, you saw it over the 2020 where we came back down. There was the Covid crisis. There was Michael Saylor scooping up all the coins, and that was another peak of long-term holders accumulating. We’re moving into a peak, and we will be at the peak at current rates by next month. 

That means peak accumulation. Peak accumulation means, that’s defining this kind of sideways band and then after that, we do a run-up.

The last run-up was $10,000 to $60,000 starting from October last year. The run-up before that was from $4,000 to $14,000 over a matter of months. So if October we start to peak… we’re starting to look into November onwards to go. That’s when the run-up happens. All the coins are being scooped up by these long-term guys… Just the structure of the market is like, “This thing is going to go nuts.’”

In other trending Bitcoin News today: Bitcoin in a Supercycle? Analyst Will Clemente Says Long-Term BTC Holders Changing Market Structure!

“If I had to use one chart to argue that we are in a ‘Supercycle’ it would be this. Macro HODLing (hold on for dear life) behavior has shifted after March of last year. Makes a convincing case for the end of the 4-year cycle.”

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Trezor: ► http://trezor.cryptonewsalerts.net

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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/remarkable-on-chain-metrics-could-spell-bitcoin-ethereum-bull-market-return-new-report

https://cointelegraph.com/news/bitcoin-price-sinks-to-46-7k-despite-record-accumulation-and-supply-shock-events

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Global payments giant PayPal disclosed on Friday that its customers in the United Kingdom can now buy, sell, and hold multiple cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH), directly from their accounts.

“We are delighted to share that all eligible customers in the UK can now buy, hold, and sell Cryptocurrencies Bitcoin, Ethereum, BitcoinCash & Litecoin from their PayPal accounts. Look out for it in the PayPal app,” the announcement reads.

In other trending Bitcoin News today: Ethereum eyes $6.5K bullish target as ETH price chart paints ‘cup and handle’!

The success rate for cup-and-handle patterns in forex and stock markets, on daily timeframes, are 65% and 68%, respectively, per a Harvard study.

Ethereum blockchain’s native asset, Ether (ETH), faces the prospect of exploding toward $6,500 in the coming sessions.

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🔥 [IMPORTANT] – Secure your crypto with a Trezor or Ledger hardware wallet:

Trezor: ► http://trezor.cryptonewsalerts.net

Ledger: ► http://ledger.cryptonewsalerts.net

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://cryptopotato.com/paypals-u-k-customers-can-now-buy-sell-and-hold-bitcoin/

https://cointelegraph.com/news/ethereum-eyes-6-5k-bullish-target-as-eth-price-chart-paints-cup-and-handle

https://cointelegraph.com/news/satoshi-nakamoto-statue-goes-up-in-budapest

https://cointelegraph.com/news/bitcoin-sees-quite-healthy-consolidation-on-200m-btc-options-expiry-day