The price of Bitcoin is a viral topic on many best cryptocurrency news sites. In the latest edition of the BTC news, one crypto analyst predicts Bitcoin to rocket soon, saying that it could visit the $25,000 mark by the end of this year.
We are talking about the millionaire cryptocurrency trader and analyst called Oliver Isaacs who recently set a new target for the Bitcoin price. As he told The Independent, more and more investors are viewing Bitocin as a safe haven asset in the wake of the growing macroeconomic tensions. He referred to the ongoing trade conflicts between the US and China that sent the global equity market on a downward trend last month.
According to Isaacs who is featured in the latest cryptocurrency news, there is a lot of sentiment for Bitcoin to rocket soon – which is driven by the negative sentiment which prompted investors to hedge in cryptocurrencies. As he said:
“I believe bitcoin has the potential to hit $25,000 by the end of 2019 or early 2020. There are multiple drivers behind the recent resurgence. There are geopolitical, technological, and regulatory drivers. The net effect of the trade war between the U.S. and China has led to a sudden interest in bitcoin as a hedge on investments.”
This statement by Oliver Isaacs follows the dramatic correction in the recent market cycle in which the dominant cryptocurrency dropped by more than 18% after establishing its 2019 high near $9,090 on the San Francisco-based exchange, Coinbase.
Nonetheless, Isaac predicts Bitcoin to rocket because of the positive trend which is seen in its broader outlook, showing that Bitcoin’s year to date performance has 146% in gains. Isaacs also noted that Bitcoin adoption is another big factor which could push BTC in a positive direction. He did not share much of his outlook when it comes to the coming altcoin news – but indicated that the cryptocurrency ecosystem has turned more positive since it crashed by more than 85% in 2018.
Meanwhile, other notable analysts think that Bitcoin is due for a considerable drop. According to Willy Woo who is the founder of Woobull.com, the dominant cryptocurrency has become overvalued because of its latest upside movements. The analyst said that there is a considerable divergence between the current Bitcoin price and the NVT Ratio (explained on this link) which is currently bearish.
Bitcoin Ignores Correction Calls: Where Is BTC Headed?
“$BTC – found resistance right at the lower cloud and has opened the weekly candle inside the cloud. This represents the highest time frame that #bitcoin has breached into the cloud…with resistance at just above $10K…”An analyst named Chonis Trading then took to Twitter with the following statement: https://twitter.com/BigChonis/status/1140410183665049603 He also added:
“One more step up the mountain as #bitcoin hits right at the 38.2% fib resistance making it the next target for the bulls to close over and also makes maintaining the 23.6 fib support that much more important for overall continuation…”As Bitcoin ignores correction calls, many believe that the $10,000 mark could be achieved very soon.
Bitcoin Hash Rate Reaches New High As Price Reclaims $9,000
Bitcoin Just Surpassed 1 Million Daily Active Addresses
"When Bitcoin first broke 1 million active addresses (Nov 27, 2017), 1 BTC was $9,352 and the median tx fee was $3.23. Yesterday 1 BTC was $8,230 and the median tx fee was $1.33."Even though the DAA does not man much in practice, the fact that Bitcoin just surpassed 1 million daily active addresses is an important metric on many altcoin news sites - mostly because it shows actual and unique transfers which are separate from the direct ones to and from bigger exchanges. The fact that there are more than million unique addresses transacting on the blockchain is good for Bitcoin. https://twitter.com/kerooke/status/1139919876838047744 In order to put this number in perspective, however, we can link to Uber and its estimated 14 million rides per day or estimated 798,877 iPhones a day which Apple sold in 2017. While these are comparisons like Apples to oranges, it is definitely interesting to note that Bitcoin is doing the transaction volume of some of the biggest brands in the world. The news that Bitcoin just surpassed an interesting milestone are re-shared on many best cryptocurrency news sites. Curiously, shortly after reaching this milestone, Bitcoin's price started rising going from $8,450 to a $9,300 high. At press time, the Bitcoin price seems to have corrected and is trading a little over $9,100. One of the factors behind the flagship cryptocurrency and its price rise could be Facebook's foray in the crypto space. Still, Bitcoin just surpassed 1 million daily active users and there could be a real possibility that BTC is heading for the $10,000 mark by June 21 because of it. Right now, there are no coming altcoin news or altcoins showing a similar level - or active addresses which surpassed one million. The Bitcoin traders should be proud of that - and proud of a retracement for the Bitcoin blockchain which has not been since two years ago - in November 2017.
Bitcoin Above $9.3k: BTC Price Records A 13-Month High
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