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Bitcoin News

Bloomberg Analyst Thinks That Bitcoin’s Price Is Oversold, BTC May Have Found A Bottom

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A leading analyst from Bloomberg is in the latest Bitcoin news, suggesting that the Bitcoin bottom is somewhere around $3,000 or $3,100. Using the GTI Global Strength Technical Indicator, his analysis focuses on Bitcoin and its oversold conditions at this point.

As the analyst wrote:

[The indicator] for Bitcoin is nearing oversold levels, clocking in at 35.6. That’s the lowest level since December. Bitcoin appears to be stabilizing around $3,500, with clear support at $3,000 to $3,100, the measure suggests.

In the report, the analysts also claims that “many regular investors remain wary of the crypto market” suggesting that a clear bottom can help and reignite the mainstream interest in cryptocurrency. Right now, clear support exists around $3,100 or as low as $3,000.

Even though the Bitcoin price has been stabilizing around the $3,500 margin, it is after all a bear market – one that could likely drop $1,000 in one day or do the opposite and start a bull run. The latter, however, is a scenario that is very unlikely.

Whatever happens, long-term Bitcoin trading still depends on the ETF decision as well as other big news that might spur interest from the mainstream. As a last note, nearly half a trillion dollars were there over the course of 2018, and under the right conditions, they might re-enter when they feel the conditions are right.

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Bitcoin News

Bitcoin Investing: Over 50% Of Retirees In US Are Crypto-Aware

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A new survey is in the latest cryptocurrency news, showing that more than 56% of American retirees aged 50 and older know what Bitcoin is but refuse to invest in it. In parallel with this fact, Bitcoin investing is something that only 3% do from the entire population. First announced by Gold IRA Guide which is a magazine about precious-metal investing, the news show that 1 in 3 retirees in the United States have actually no idea what Bitcoin is. Gold IRA surveyed the American retirees with interest in getting their response regarding BTC investing. If you are a crypto fan, you may find these results as discouraging because they show that retirees remain skeptical of crypto and haven't bought into the hype of the past few years. Below, we are breaking down the key findings which sum up the knowledge that US retirees have related to Bitcoin investing.
  • I know bitcoin is, but am not interested in investing - 56.7%
  • I already own some bitcoin - 2.7%
  • I have no idea what bitcoin is - 32.9%
  • I know bitcoin but don’t know how to invest - 3.4%
  • I’m keeping an eye on it - 4.3%
These results also suggest that the cryptocurrency community has a lot of work to do when it comes to educating the general public about Bitcoin. However, at the same time, Bitcoin investing is a very popular topic for retirees because they generally have money to invest. The report further notes:
“This audience represents some low-hanging fruit for the Bitcoin community to go after. Retirees are always interested in alternative assets that can help diversify their portfolio against market fluctuations.” “The IRS approving cryptocurrency IRAs is an indication that retirees are increasingly interested in including some cryptocurrencies in their retirement accounts.”
For now, US retirees are active in traditional investments such as stocks, bonds and real estate - while Bitcoin investments are still on the rise. In contrast to them, millennials are far more open-minded when it comes to embracing new asset classes, as many best cryptocurrency news sites have reported. Baby boomers, on the other hand, are somewhere in the middle.
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Bitcoin News

2019 Bitcoin Gains Are Now At 44% Against The US Dollar

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The 2019 Bitcoin gains are a hot topic on many best cryptocurrency news sites. For many analysts, it is hard to see where Bitcoin (BTC) is right now in terms of its bullish versus bearish scenario. However, what's certain is that the most dominant cryptocurrency is 'in a good mood' lately as the market approaches a new $181 billion in total capitalization. One analyst has recently tweeted about the growth of cryptocurrencies this year, reporting the 2019 Bitcoin gains as well as the gains filtered through different categories and details such as oil and other best-performing assets. https://twitter.com/charliebilello/status/1119218063486914560 As we can see, the initial 20% rally that Bitcoin made in early April when it surged from $4,200 to $5,000 was crucial for changing the sentiment around the crypto market. Investors at the time expected that the market would correct. Instead, the 2019 Bitcoin gains got to be even higher and the market was led by BTC in another bullish scenario. Over the past few days, Bitcoin has continued to increase in terms of its value and has recently surpassed the $5,300 mark, recording a 32% increase in price within one month. The momentum of BTC had a lot to do with the growing market as well as the rise of Binance Coin (BNB) which is featured in the altcoin news - leading the market today and managed to get to the seventh spot on the most valuable cryptocurrencies on the market. Even though the latest reports featured in the latest cryptocurrency news show that the 2019 Bitcoin gains have a lot to do with institutional investors turning to crypto, it is more likely that funds that are already in the crypto market in the form of stablecoins, hedge funds and fiat on exchanges would contribute to a larger effect on the short-term performance of the market. Right now, it is easy to see that the growth of Bitcoin is definitely attributed to the entrance of Binance Chain in the blockchain space, changing the landscape of tokens so far and changing the market interest all around it. It may be too early to predict, but everyone is hoping to see more of the Bitcoin gains in 2019 in the near future.
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Altcoin News

Crypto Market Cap Surges To $180 Million, Binance Coin (BNB) Leads

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crypto market cap
In the latest cryptocurrency news, we are seeing a lot of positive movements as another weekend unfolds. Currently, the crypto market cap is back over $180 billion as it approaches the previous highs for 2019, according to data from CoinMarketCap. The big question is - are new highs on the horizon for 2019? A lot of analysts think so when seeing the total cryptocurrency market capitalization and the major cryptos surging. Obviously, the main point for the future is the $200 billion mark which needs to be established quickly - which will be the case if the positive sentiment continues. Over the past day, Bitcoin (BTC) has managed to climb 1.5% and contributed to the growth of the crypto market cap. The most dominant cryptocurrency is now closer to its highest price for the past 24 hours at $5,330 - in fact only a few dollars below that. Ethereum (ETH), on the other hand, is in the coming altcoin news and part of the growing crypto market cap for its return to $175 which is a crucial level for the coin. The ETH chart looks like a mirror of the Bitcoin momentum. Ethereum managed to gain more than 5% since last weekend but the gains have been slow going. Right now, the top ten coins are contributing to the crypto market cap with small yet important gains. The Asian trading session saw all of the top ten coins in the green, with only Binance Coin (BNB) going massive and reaching a new all-time high at $24.80 All of the signals now are that BTC will retest the 2019 high of $5,400 and many analysts sharing their thoughts on the best cryptocurrency news sites are confident that the resistance will be broken as well. Bitcoin Cash (BCH) is also up 3.5% as it climbs above $307 - however, the rest of the market made only marginal movements over the past 24 hours. The top twenty sees minimal rises which on a wider scale, ramp up and contribute to the growing crypto market cap. There are no big dumps occurring today. However, at the bottom of one hundred largest cryptocurrencies, Bitcoin Gold is perhaps one of the losers, dropping 3.5%. Right now, the total cryptocurrency market cap is $180.5 billion and is heading for the $181 billion mark.
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Analysis

Bitcoin Price Analysis: BTC Is On A “Slow And Painful” Way To $20,000

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In the latest cryptocurrency news, we are focusing on the Bitcoin price analysis as a main topic - especially because of one analyst who went in with a statement that BTC could be leading its way to $20,000 in a slow and painful process. As the crypto news featured on Forbes wrote, quoting Kevin Dennean as a top tech analyst at the Swiss bank UBS:
“We’re struck by how long it took other asset bubbles to recover their peak levels (as long as 22 years for the Dow Jones Industrials) and how pedestrian the annualized returns from trough to the recovery often are.”
He also went on to add that "crypto-bull contingents should consider what happens after the bubble–not every bubble that bursts recovers the old highs," saying that he believes that the current Bitcoin price analysis shows that just like other classes, BTC faces a slow and painful path to recovery. Featured on many best cryptocurrency news sites, Dennean's statement also likened the Bitcoin price "bubble" to the 1929 Dow Jones collapse, suggesting that it might take slightly more than two decades for the dominant cryptocurrency to reach its highs in the likes of $20,000.
"The argument here is that bitcoin has gone through its bubble phase and is ready to rise phoenix-like from the ashes just as other assets and indices did in the past,"
In his Bitcoin price analysis, Dennean said:
"The argument here is that bitcoin has gone through its bubble phase and is ready to rise phoenix-like from the ashes just as other assets and indices did in the past."
He also compared the rapid rise and fall of the Bitcoin price and warned the public:
"Maybe crypto-bull contingents should consider what happens after the bubble–not every bubble that bursts recovers the old highs."
In line with the coming altcoin news which see a lot of coins as idle, the latest Bitcoin price analysis shows that there could be a possibility for a bullish run for BTC in the future - and all of this alone gives hopes to many traders and BTC price believers.
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