BNB price analysis shows that the price of the altcoin shows signs of reversing the bearish trend and increased up to 12 percent over the 24 hours. The current price of the altcoin is now up to $21.80 and in the coming altcoin news, we make a broader analysis. Binance has recently announced the next Binance Launchpad token sale or the next Harmony Protocol which is a new innovative platform. With the announcement, the price of the BNB coin also increased. Harmony is a low-latency and low-fee consensus platform but more details about it we have to expect after May 15 during the new announcement. If you take a look at the BNB/USD1-Day charts, you can see the price action of the BNB coin. For example, after the latest BNB price analysis, we can see that the pair is falling even lower and it reached the outlined support at $18.81. The support at the current level is provided by a short-term downside at 1.414 Fibonacci Extension level. The BNB coin has rebounded before reaching this level and has also broken back above the $20 price point. It is also currently trading at the same position. The nearest resistance level of the coin is located at $22. Another resistance level could line with the $24.40 and $25.18 price points. Above the $25.18 price point, a higher resistance could be located somewhere around $26.60. On the downside, the nearest level of support is now at $20.85 or $20. Further downside support can be found at $19.50 and $18.81. If the sellers manage to break the low level at $18.81, the next support line could be found at $17.84 and $16.30. The trading volume of the coin has managed to remain average over the past few days but it still relatively high. The RSI index shows an extremely oversold area. A crossover above could even spike a positive correction. The previous BNB price analysis which we covered in the latest cryptocurrency news shows that the coin continued to decline against BTC and has even fallen beneath the support of the 100 days moving average. The initial support line lies at 00.0031 BTC and the 0.0030 BTC area. The Stochastic RSI indicator could produce a crossover above oversold territory and a further bullish correction is approaching.

Bitcoin will triple by 2021 at least this is what Mike Novogratz believes will happen in the next year-and-a-half. The BTC billionaire thinks that the price of bitcoin will surpass the $20,000 all-time high after it recovers from the price slump in 2018 and we find out more in our altcoin news below. The Galaxy Digital CEO strongly believes that bitcoin is on its way to recovery and is currently doing great by reclaiming the $6,000 price mark. This is a good sign since it reached this point again since November 2018. Analysts believe that BTC bottomed out during the 2018 price crash when the number one cryptocurrency fell below the $3,000. While speaking at the SALT Conference in Las Vegas, Mike Novogratz predicted that the price of bitcoin will triple in the next 12-18 months:

 “Out of the rubble, bitcoin has popped back up. It would take something like that to shatter this newfound confidence.”

Since the start of 2019, Bitcoin increased by 65 percent and still continues to recover from the harsh bear market. Most of the gains happened between April and May 2019 when the largest cryptocurrency increased by 50 percent. According to the Bitcoin Bull, BTC going strong and it would take a serious event to crush its recent surge. Following the latest cryptocurrency news, the bitcoin price was not affected by the recent happenings. The Galaxy Digital CEO is not the only one that is bullish about bitcoin. Multiple analysts have been rooting for a bitcoin bull run. Experts notice the improved technical fundamentals of the currency and claim an impending price surge. Another popular bitcoin trader Peter Brandt who predicted the 80 percent crash in 2018, predicted that BTC is setting up for another massive growth similar to the one in 2017. Other enthusiasts say that the surge in interest for bitcoin will lead to another bullish cycle as well.  Sources from Fidelity Investments say that the company will debut Bitcoin trading to institutional clients and this is another key indicator that the interest for bitcoin is growing. Fidelity could also be joining BTC trading providers such as TD Ameritrade and E-Trade. Bakkt is also working hard to get approval from the U.S Commodity Futures Trading Commission.

New Bitcoin 2019 high was achieved in a period of three hours when the number one cryptocurrency managed to increase from $5,682 to $5,910 on almost all leading crypto exchanges. The altcoin news report that Bitcoin soared by more than 11 percent in the past week. The major cryptocurrency allowed for the rest of the crypto market to add about $20 billion to its market cap after it surged on Coinbase, reaching a new 2019 high. Considering the recent performance of the biggest cryptocurrency and how the industry experts projected, crypto researcher Willy Woo says that he is certain that the low $3,000 region was the real bottom of bitcoin. Woo previously predicted that BTC will reach a bottom in the second quarter of 2019 according to the NVTS indicator. The indicator evaluates transaction volume data and analyses the long-term trend for BTC. During that time in 2018, Woo said that the blockchain indicators point towards a bearish trend. A couple of days later, the bitcoin price dropped from $6,000 to $3,150. He stated:

 “This last reading of our blockchain and macro market indicators is still in play. What has changed is that NVTS has now broken its support, typically a sell signal. All our blockchain indicators remain bearish. NVT, NVTS, MVRV, BNM, NVM. They are experimental but have served to make very correct calls to date, even when traditional on-exchange indicators were reading to the contrary.’’

The analysis that Woo conducted can be attributed to his calculation of fundamental factors but also the technical factors in order to better evaluate the market. He later said that Bitcoin will likely hit a new bottom at $3,150 because of the Bitcoin Network Momentum and the technical indicators at that time as it was reported in the latest cryptocurrency news. In the next couple of weeks, the analysts believe that Bitcoin will undergo a consolidation period and will stabilize. Some traders are waiting to see whether the dominant cryptocurrency will retest some of the supporting levels below $5,000. The increase in interest in bitcoin which led to the new 2019 high, comes after Bloomberg reported that Fidelity will launch a crypto trading service soon.

Bitcoin began a massive rally this Thursday, going from $5,300 to $5,800 and setting new five month highs. A lot of Bitcoin analysts were impressed about the dominant cryptocurrency and its push past key levels in a matter of days. However, the latest cryptocurrency news show that most of these analysts also fear that the digital asset market may be poised for a major pullback. One of the Bitcoin analysts that is skeptical about the future is Awe & Wonder. He broke down the reasoning for his belief that Bitcoin may correct and that there could be a major pullback coming next. He noted that Bitcoin is currently mirroring a major historical trend in which it underperforms its logarithmic regression trend line - which is actually sitting around 40% higher than the current value of BTC. https://twitter.com/Awe_andWonder/status/1124400550408335360 Other Bitcoin analysts have backed this claim too. In another tweet, the same analyst noted that Bitcoin's exponential trend model is showing that there is "downside risk to still be considered" as in previous cycles. Shared by many best cryptocurrency news sites, his outlook shows that the price-based metrics are "signaling caution." In another tweet, a famous trader known as Panama Crypto explained that Bitcoin's medium-term and long-term charts show "mighty resistance" at and above $6,400 which is the current support line according to many crypto analysts. https://twitter.com/Panama_TJ/status/1124306512917270529 The majority of today's Bitcoin analysts also expect the asset to trade between $5,400 and $6,400 if a major correction occurs. David Puell is next with his outlook. Even though his tweet about Bitcoin is brief and he said that he is "scared to bid this insanity" - he looks next to volume and this is far from the only bullish sign. Contrary to the other Bitcoin analysts, Puell thinks that the situation is not bad. As he tweeted, "Ce n'est pas mal!" which literally means "this is not bad," a notable amount of trading activity signals renewed the interest in the market. https://twitter.com/kenoshaking/status/1124468866028068864 The Bitcoin analysts have not commented anything about altcoins or anything that we would feature in the altcoin news section. Currently, Bitcoin is trading at $5,765 with a 0.72% negative change over the past couple of hours. The Bitcoin market cap sits right below $102 billion and the trading volume is $16.76 billion. The total crypto market cap is valued at $182.8 billion and Bitcoin's dominance is 55.8%.