A lot of analysts, researchers and traders are now wondering if the leading cryptocurrency, Bitcoin, could make new headlines on our DC Forecasts Bitcoin news site and shutter the market with a new rally.
Over the past ten days, the price of Bitcoin has remained in a stable but tight position, going from $6,300 to $6,500 and not showing a noticeable movement. However, the one day price charts of Bitcoin demonstrate that the most dominant cryptocurrency is stable for nearly two weeks and unable to engage in a short-term rally to confirm a new breakout.
Over the past 24 hours, the volume of BTC has fallen to $3.1 billion – by more than 10% – and the lack of trading activity can be attributed to the tendency of traders to prevent any initiation of high-risk and high-return trades in times of extended stability and low volatility.
However, some analysts predict a new breakout. Peter Brandt, who is a prominent trader and technical analyst, recently suggested that buyers are in control in a market that is dominated by bears and sellers since early 2018.
In order to see a new rally, traders need an abrupt increase in the price of Bitcoin – to at least $6,800 to $7,000 and similar margins, especially going above the $6,800 resistance level which is crucial at this point.
The low volume is the main reason why a movement like this seems impossible at this point. What’s good, however, is the stability of the BTC price – which could lead to an increase in value of small market cryptocurrencies as well as other altcoins.
Bitcoin Is Doomed: Analysts Are Afraid Of Bears After $400 Drop
"I do remember bears being euphoric with a $1000 dropdown on a daily candle, now they are euphoric with a $300 retrace after one of the most bullish candles in the history of bBTC."https://twitter.com/CryptoMichNL/status/1193102628479094784The cryptocurrency and its long-term charts indeed seem to be implying that medium to long-term upside is highly likely. As reported in our Bitcoin news before this, the trader HornHairs noted that he "likes the chance we hit $14,000 before $7,000." With this, he remarked that there is still a possibility for Bitcoin (BTC) to rise and lean bullish rather than bearish.https://twitter.com/CryptoHornHairs/status/1189968006006353921Filbfilb was also in the news, noting that by the end of November or start of December, the 50-week and 100-week moving averages will see a "golden cross" which he claims is far more significant for the BTC market than other technical crosses.
MoneyGram US-Mexico Business Is 10% Crypto Enabled?
“The 10% relates to the ODL (On Demand Liquidity) platform and represents the percent of our Mexican peso volume that we trade. We take USD and buy Mexican pesos. We continue to work with Ripple to build liquidity. We now have four new corridors we are starting, including the Philippine peso and Australian dollar. True success will be determined by others joining the platform, so it’s early days.”As a last resort, Holmes reserved himself when asked about the volume of the MoneyGram US-Mexico business - and instead focused on the technology and its massive potential to bring ease of international transactions in new countries.
Ripple Price Follows Uptrend Above $0.3, Next Target At $0.35
- Hourly MACD – The MACD for XRP/USD is right now (re)gaining its pace in the bullish zone.
- Hourly RSI (Relative Strength Index) – The RSI for the XRP/USD pair is barely staying above the 50 level.
- Major Support Levels – $0.3000, $0.2985 and $0.2970.
- Major Resistance Levels – $0.3025, $0.3030 and $0.3050.
BTC Is Trending Higher, Tackling $9,300 With An Upward Momentum
“Once we get a monthly close above $14k, we'll be in the second phase of the bull market; a steady, lowish volatility, run in price. Should happen by the start of 2020, that's the best time to deploy capital,” Woo explained in a number of tweets this Monday.As we reported in the news before, Woo is not alone with this prediction about the BTC/USD pair. Last week, the contributor filbfilb also eyed the potential for the pair to revisit the $8,000 region.
“Suspect there are a lot of over leveraged people in the 9300s with stops below 9k. Whales probably tempted to dump it and get a lower entry,” the analyst said in an update on his Telegram channel.Currently, BTC is trending higher and just crossed the $9,256 mark with a 0.53% increase on the day. The market cap also managed to increase for a couple of billions which is another good sign for a potential bull run.
OKEx Expands Product Offering With Tether-Margined BTC Futures
Bitcoin Difficulty Drops, Can The Miners Survive The Halving Event?
NEO And VeChain Pose Impressive Rallies The Past Week: Analysis
Zimbabwe Believes Bitcoin Is The Best Solution For Hyperinflation
FED Added $12.7 Million Bitcoin To Financial System As Bailout
Anonymous Donates $75 Million In BTC To Increase Online Anonymity
Bithumb Global Launched Native Coin For Its Custom Blockchain
Royal Bank Of Canada (RBC) Is Set To Open A Crypto Exchange
Crypto Exchange Execs From South Korea Jailed For Fraud
CFTC Chairman Urges America To Lead The Blockchain Race
China Declares Bitcoin As Property! Central Banks Prefer Crypto? SONY “Contactless” Hardware Wallet
JPMorgan Predicts A 60% Recession, Is Crypto The Best Chance Now? | [Bitcoin News // Crypto News]
Ethereum Sees Record Number of Shorts! NEM Blockchain Hub | Samsung Blockchain Supply Logistics
Crypto Jobs Up 300%! Lost BTC 20% Rate of Recovery | Only 45% of Exchanges Meet Security Standards
DC Forecasts Proudly Backed The Global Disruptive Blockchain Innovation Summit
Join us on Facebook
UPCOMING EVENTS RECOMMEND BY DC FORECASTS
- Ethereum News7 days ago
Ethereum Istanbul Hard Fork Set To Launch On December 4: Official
- Ethereum News6 days ago
Ethereum Is Still Declining And Will Continue Lower In The Short-Term
- Litecoin News5 days ago
Litecoin Gains 2% On The Day, Analyst Outlook Is Bright
- Ethereum News5 days ago
Ethereum Co-Founder: “We May Interoperate With China’s CBDC”
- Ethereum News5 days ago
ETH Weekly Forecast Shows That There Is A Hold Of Uptrend Support
- Altcoin News7 days ago
Silvergate Crypto Bank Goes Public In Listing On NYSE
- Altcoin News7 days ago
Maker Accounts For Over Half Of The $650M Locked In DeFi
- Blockchain News3 days ago
Blockchain Spending China Will Surpass $2 Billion In Two Years