Bitcoin BTC Rallying to 10000 is Only a Matter of Time: Analyst

Bitcoin (BTC) Rallying to $10,000 is Only a Matter of Time: Analyst

Bitcoin Rally to $10,000 on the Horizon

Over the past few days, Bitcoin (BTC) has stopped dead in its tracks. After rallying from a multi-week low of $7,450 to briefly flirt with $9,400, the cryptocurrency stopped its upward momentum. Since then, BTC has been rather flat, trading between $9,000 and $9,300. But, one analyst claims that the asset is poised to break out — upward that is. In a recent tweet, he laid out his thoughts.

As seen below, the analyst, Smart Contracter, who correctly called that Bitcoin was going to bottom around $3,500 at the start/middle of 2018, believes that BTC is soon poised to hit $10,000 for the first time since early-2018.

He claimed that BTC is currently trading in a triangle pattern, marked by an increasingly tighter range. With there being dropping volume, a break out is becoming increasingly likely. Per Smart Contracter’s use of wave analysis, this breakout will bring Bitcoin to $10,000. As he claims, “I think its only a matter of time now before we break up again.”

He isn’t the first to have claimed that $10,000 is inbound. In Tuesday’s segment of CNBC “Futures Now”, the two guest traders and Fundstrat’s Tom Lee claimed that they are currently bullish on cryptocurrency. One of the traders claimed that as long as BTC holds $9,100, he would be inclined to believe that Bitcoin can soon reach $10,200.

This comes briefly after Lee and his peers at Fundstrat claimed that $10,000 is the level to watch for Bitcoin. They claim that once Bitcoin reaches $10,000, “Level 10” FOMO will grace this market, which last occurred when BTC blipped above $4,500 in late-2017. If history is any guide, the cryptocurrency market will shoot even higher once $10,000 is breached. As the analyst wrote on Twitter earlier this month, “[$10,000] will see FOMO from those who gloated about the 90% crash in BTC… and those who saw Bitcoin dead as forever.”

Once $10,000 is broken past, Lee expects a “fast and furious” move to $20,000. And from there, the analyst claims that Bitcoin will double in the next five months, reaching $40,000 in a jaw-dropping move.

ecosystem for entrepreneurs
Markethive Advertisement

Sentiment Wildly Bullish

The crypto community also seems to convinced that a further rally is only a matter of time. According to recent sentiment analysis compiled by analytics startup The TIE, there were 38,889 Bitcoin-related tweets yesterday — the highest daily count in June so far. 61.4% of tweets mentioning both Bitcoin and Libra were purportedly positive, marking overall bullish sentiment.

What’s more, overall crypto community sentiment is at its highest since May 15th, which was when BTC first started to move past $8,000 in this cycle. The TIE writes: “Despite a 2.5% drop in the price of Bitcoin it appears that the markets response to Facebook’s Libra release has been strongly positive.”

Original article written by Nick Chong and posted on the EthereumWorldNews.com site.

Article posted on Markethive by Jeffrey Sloe

Visit MarketHive to learn more: http://markethive.com/jeffreysloe

Investing in Bitcoin is it the Right Thing to Do?

Investing in Bitcoin, is it the Right Thing to Do?

All this talk about Bitcoin and the Blockchain has gotten me into doing additional research. So, what is Bitcoin? How do you get Bitcoin? Is Bitcoin legit, and is it what some people call, "The New Gold Rush"?

These and many other questions are answered in the Bitcoin Complete Guide ebook. Many have also concurred that Bitcoins are the future of currency worldwide. However, many Governments have only begun to sit up and take notice, whether of its value or validity.

If you're like most people, sceptical and unsure, the Bitcoin Complete Guide will give you the knowledge so you can make the right decisions about wheteher to invest in Bitcoin or not. If you're like a lot of the nay-sayers that are saying it's too late to invest, you may be missing out on one of the BIGGEST revolutions of our lifetime.

Bitcoins have ONLY been around since 2009; if you would have purchased Bitcoins back in 2012, you would have been graced with a greater than 6600% return. Today, most experts predict that Bitcoin will continue to increase in value and may even reach as high as $100,000 (USD).

No one knows, or can predict, the future, however, the writing is on the wall. Is it worth your time to learn more about the Bitcoin revolution? That's the question ONLY you can answer. If you don't know where to start, click on the following link to learn more about the Bitcoin Complete Guide ebook.

It may just be what the doctor ordered!

Posted on Markethive by Jeffrey Sloe

Visit MarketHive to learn more: http://markethive.com/jeffreysloe

Inbound Marketing Social Platform

A safe, secure, powerful broadcasting platform, delivering value and merit for joining and engaging your audiences. An exclusive Airdrop, Faucet and Bounty social network. Markethive. Joining is free, upgrading is rewarding. https://markethive.com/jeffreysloe

By Invitation: https://markethive.com/jeffreysloe

Originally written and post by https://maarkethive.com/marketing

Visit MarketHive to learn more: http://markethive.com/jeffreysloe

If Bitcoin BTC Closes Week Above 8800 Crypto Set for Move Even Higher

If Bitcoin (BTC) Closes Week Above $8,800, Crypto Set for Move Even Higher

Bitcoin Rallies Hard Past $9,300

And just like that, Bitcoin (BTC) is right back above $9,000. The past 72 hours have been absolutely stellar for the crypto market, as it saw all digital assets gain notably across the board. BTC, most notably, moved from the low-$8,000s, where analysts expected heavy resistance, to $9,150 where it stands right now.

With this, the bullish cries of traders all across the industry have returned, despite the fact that they were calling for a massive pullback just weeks earlier. And more importantly, some have begun to claim that a massive move higher is still on the horizon.

In a recent tweet, prominent analyst Josh Rager, who has risen to prominence amid the crypto bear market of 2018, remarked that Bitcoin’s weekly chart is currently experiencing a massive “bullish engulfing candle”. This means that last week’s losses, which saw BTC fall from $8,800 to briefly tap $7,450, have been reversed, barring that we don’t close under $8,800 at 0:00 UTC on June 17th.

Rager claims that this pattern, which includes a strong pullback (black candle) and a subsequent bullish reversal (engulfing white candle), is what “led to continued uptrend last bull cycle.” Thus, he notes that if Bitcoin manages to finish this week strong, and not scale back by the 3% or 4% to $8,750, he will be convinced that BTC will continue on to post new yearly highs in the coming weeks and months. Analyst Nunya Bizniz pointed out this pattern exact too.

But where is that exactly? According to analyst Credible Crypto, BTC’s next stop would be in the high-$9,000s and low-$10,000s, which is where the next line of heavy resistance lies.

$10,000 is where BTC topped in last years’ bear market rallies, and where the asset found heavy resistance on its way up during the legendary 2017 boom.

Bulls on Parade

Regardless of what exactly plays out over the next few days, many are sure that a bull run is surely on. Rager recently noted that the Super Guppy, an indicator that singles out overarching trends, has flipped from red to grey on Bitcoin’s one-week chart after it flipped from grey to green on Bitcoin’s three-day chart. This occurred when BTC pushed past $7,000 just weeks ago. While the one-week Super Guppy isn’t green yet, signaling a clear uptrend, Rager notes that Guppys are “lagging indicator”, meaning that the change from red to interim grey makes for a “strong confirmation” of a bull trend.

This isn’t the only confirmation of a bull trend that BTC has recently seen. Per Josh Olszewicz, an analyst at Brave New Coin, the 100 exponential moving average (EMA) and 100 daily moving average (SMA) on Bitcoin’s daily resolution has only crossed six times in BTC’s history as a liquid asset. Most recently, BTC’s 100 EMA has crossed above its 100 SMA, a “bull cross” according to Olszewicz. The last time this technical signal came to fruition (late-2015, pre bull run), BTC rallied parabolically in the months that followed, peaking at $20,000 as we know well know.

And most importantly, Bitcoin recently closed its fourth consecutive weekly candle above its 50-week moving average, a series of events that have never failed to mark a bull run in the past.

Original article written by Nick Chong and posted on the EthereumWorldNews.com site.

Article posted on Markethive by Jeffrey Sloe

Visit MarketHive to learn more: http://markethive.com/jeffreysloe

Bitcoin BTC Needs to Pass 8200 to Kickstart Next Leg Higher

Bitcoin (BTC) Needs to Pass $8,200 to Kickstart Next Leg Higher

Bitcoin Needs $8,200

Over the past few days, Bitcoin (BTC) bulls have made their presence known once again, boosting the leading cryptocurrency from a multi-week low of $7,450 to $8,150 as of the time of writing this. While this solid price action, which comes after BTC has ostensibly topped at $9,100, has many enthused, the trend isn’t bullish just yet.

In a recent podcast with Forbes contributor Benjamin Pirus, prominent analyst Ledger Status, known as Brian Krogsgard off of the ‘interwebs’, explained that Bitcoin has one more key level to breach before resuming a clearly bullish trend.

In a recent podcast with Pirus (all credit to him), Ledger remarked that Bitcoin is currently in the midst of trying to determine whether it will consolidate at higher levels and eventually push higher, or is topping out to precede a strong retracement. Krogsgard notes that “$8,200 [is a key level] on the daily,” explaining that this coincides with the Bollinger Band midline (a key technical indicator meant to determine ranges, key support/resistance). From Ethereum World News’ point of view, $8,200 also lines up with the 0.786 of the Fibonacci Retracement from $9,100 to $5,000, meaning that it is a level to watch.

If $8,200 is surmounted, presumably meaning a daily close above that level, Krogsgard expects for Bitcoin to begin its next leg higher, meaning a move to retest its year-to-date highs and potentially continue even higher. So, is $8,200 possible?

According to a number of analysts, for sure. Per previous reports from this outlet, the asset’s four-hour chart is looking like an Accumulation pattern laid out by technical analysis guru and legend Richard Wyckoff. If the textbook pattern plays out in full, analyst Financial Survivalism explains that he expects for BTC to break past $8,040, fall back to $7,700, and then return back to the mid to high-$8,000s.

This isn’t the only bullish sign that the analyst observed. In a subsequent tweet, Survivalism explained that if the nine four-hour exponential moving average crosses above the 50, Bitcoin will be “fully bullish” on the four-hour chart, implying “another leg up in the market.”This has yet to happen, but if BTC keeps the upward pressure, it will likely happen within the coming day.

Survivalism isn’t the only one that is short-term bullish. In a recent tweet outlining an astute observation, analyst Filb Filb noted that movements in Tether’s market capitalization have accurately predicted moves in BTC. With the number of Tether rapidly rising, recently surmounting a jaw-dropping $3 billion, Filb seems to be predicting that Bitcoin will soon shoot higher. While Tether was found not to directly be manipulating markets, more USDT in circulation is supposed to mean more money flowing into this space.

Pullback Still on the Table

Krogsgard was sure to leave skepticism on the table, however. Despite the fact that he expects for Bitcoin to likely revisit $9,100 and potentially move even higher, he reminds listeners to Pirus’ podcast that he “I wouldn’t say $8,000 bitcoin is a particularly attractive place to buy.” He adds that the cryptocurrency market has evidently moved fast this year, meaning a that an eventual correction to lower levels, like the $6,000s, is more than likely. Put best,

Even in bull markets, corrections of 30-40% are normal, so I’m waiting for when that occurs. It could be now, with an outside chance of another high, maybe into that $9,600 range first.”

When that comes, though, no one is all too sure.

Original article written by Nick Chong and posted on the EthereumWorldNews.com site.

Article posted on Markethive by Jeffrey Sloe

Visit MarketHive to learn more: http://markethive.com/jeffreysloe

Bitcoin ATM Spotted Spitting Out Money in London

Bitcoin ATM Spotted Spitting Out Money in London

A few days ago Londoners witnessed a bizarre movie-worthy scene: A Bitcoin ATM suddenly started spitting bills non-stop in a shopping center.

Several people were able to record the odd event and share it on Reddit. On the footage, a security guard protects the machine from the curious people who saw the scene. None of them (at least as far as one can see in the video) tried to take a bill.

 


From Bitcoin

The cashier was spitting out money for several minutes, which is why several people speculated that it was not a malfunction but rather a hack. The methodology, known as “jackpotting” basically allows the hacker to operate the ATM remotely making it spit out money on command.

If true, the perpetrator could be facing criminal charges.

Bitcoin ATM Operator: “It Was Not a Hack”

Shitcoins Club, a polish company that owns more than 60 Crypto ATMs distributed all over Europe, managed the Bitcoin ATM.

ecosystem for entrepreneurs
Markethive Advertisement

In statements to The Next Web, Shitcoins Club denied that it was a hack and commented that from their point of view everything was a trick to give the illusion that the ATM went crazy:

“Everything was going well during this transaction … As you can see there is a bag in front of the ATM.”

In fact, in a Reddit post, a spokesperson said that anyone can see the location and funds availability of each of their ATMs, so it was easy to withdraw such a large amount of money (as long as the necessary funds were available).

“Our ATMs are the only ones in UK which can handle large cash withdrawals. On our website shitcoins.club on the “locations” tab, you can find out exactly how much GBP ready to withdraw holds each of our ATMs. The ATM at Bond Street Station (West One Shopping Centre), has at the moment 30,000 pounds which can be withdrawn immediately, in exchange for BTC, LTC or DASH. Our ATMs are usually topped up to 20 000 pounds.”

So everyone is free to draw their own conclusions. Maybe it was all the work of a skillful hacker who somehow wanted to generate a negative image of Bitcoin ATMs or maybe it was all the work of a troll who wanted to make a joke by daring to lose his money at the hands of a crowd that one can never know for sure how will react before the opportunity to have free money.

Either way, the crypto-verse is one weird place to be sometimes.

Original article written by Jose Antonio Lanz and posted on EthereumWorldNews.com site.

Article posted on Markethive by Jeffrey Sloe

Visit MarketHive to learn more: http://markethive.com/jeffreysloe

Facebook Crypto on the Horizon: Firm Has 100 Blockchain Staffers Now

Facebook Crypto on the Horizon: Firm Has 100 Blockchain Staffers Now

Facebook Crypto is (Almost) Ready to Launch

After months of rumors, it seems that Facebook’s crypto is finally right on the horizon. Reported by TechCrunch today, a source claims that the technology company is looking to release the white paper for what is known as “Globalcoin” on June 18th, a mere two weeks away. This has seemingly been confirmed by a Facebook executive, who discussed the June 18th date previously. What’s more, The Information, a publication known to have very good sources within the cryptocurrency and blockchain industry, recently revealed that Facebook will be making a big announcement about its ambitions in the digital asset space this month.

As Globalcoin nears launch, Facebook has purportedly begun to bolster its staffers in the cryptocurrency space. The firm, according to LinkedIn data, has a jaw-dropping 100 people working in the Facebook Blockchain division, and is looking for forty more talents to fill in some gaps. A listing reads:

Our ultimate goal is to help billions of people with access to things they don’t have now — that could be things like healthcare, equitable financial services, or new ways to save or share information.

For those who missed the memo, Globalcoin is slated to be a stablecoin based on a basket of currencies and assets, which will purportedly be used to give billions across the world a way to transact value at low cost, without border, and without the difficulties with traditional banking. Facebook is purportedly seeking funding from Visa, Mastercard, and other mainstream firms, and has even been in discussion with crypto exchanges Gemini and Coinbase.

A Net Benefit For Bitcoin?

This all begs the question — will Globalcoin help the adoption of decentralized crypto assets, namely Bitcoin?

ecosystem for entrepreneurs
Markethive Advertisement

Per Mike Novogratz of Galaxy Digital, it might do just that. The former Wall Street hotshot, now a well-known cryptocurrency investor, told CNBC last week that “Facebook is wildly important for the ecosystem”, adding that this tacit endorsement of the technology behind Bitcoin is resounding. He even states that contrary to popular belief, Globalcoin will add value to the non-centralized cryptocurrency ecosystem, not subtract.

Novogratz isn’t the only industry executive to have thought so.

In a Twitter thread published in Q1 2019, Ari Paul, the founder of BlockTower Capital, noted that while the so-called “coporatecoins” will operate in an intranet-esque fashion, they will help the more Internet-like Bitcoin. The investor explained that Globalcoin and its ilk are inherently “uninteresting” to Bitcoin’s crusaders, who are enamored with censorship resistance, immutability, security, and peer-to-peer systems. Yet, he adds that centralized cryptocurrencies will “increase global interest dramatically.”

And, Anthony Pompliano of Morgan Creek Digital in late-2018 postulated that “Anything Facebook launches will quickly become the most popular product in the industry….maybe even one of the most popular products in the world.”

Original article written by Nick Chong and posted on the EthereumWorldNews.com site.

Article posted on Markethive by Jeffrey Sloe

Visit MarketHive to learn more: http://markethive.com/jeffreysloe

Google Facebook Apple Amazon face US anti-trust probe

Google, Facebook, Apple, Amazon face US anti-trust probe


Image © GETTY IMAGES

The US government is to take a fresh look at how the four tech giants Google, Facebook, Apple and Amazon wield their power.

It comes in the wake of criticism about privacy breaches, disinformation and anti-competitive practices.

It could lead to more formal investigations from the Federal Trade Commission, among others.

Shares in all four fell on the news but none has yet commented.

At a news conference, Democratic congressman David Cicilline, who is chairman of the House Judiciary's sub-committee, said it plans a number of hearings and will take testimony from executives of leading technology firms.

There could also be requests for politicians to view internal documents.

He said the investigation would not target one specific company but rather focus on the belief that "the internet is broken".

Investigations

US President Donald Trump has called for closer scrutiny of Google and social media firms, accusing them of suppressing conservative voices. He has also criticised Amazon for taking advantage of the US Postal Service.

The FTC is already investigating Facebook over the Cambridge Analytica scandal with the social network bracing itself for fines of up to $5bn (£3.9bn).

Google has also been scrutinised by the FTC and was fined 1.5bn euros (£1.3bn) in March for abusing its dominant position in online search advertising.

Apple is also the subject of an EU investigation following a complaint from streaming music provider Spotify that it abuses its power over app downloads.

Article written by and posted on the bbc.com website.

Article reposted on Markethive by Jeffrey Sloe

Visit MarketHive to learn more: http://markethive.com/jeffreysloe

Bitcoin Mining Difficulty Hash Rate Surge As BTC Holds Above 8000: What Death Spiral?

Bitcoin Mining Difficulty, Hash Rate Surge As BTC Holds Above $8,000: What Death Spiral?

Bitcoin Fundamentals Booming

With BTC moving above $8,000, the fundamentals of the Bitcoin blockchain have also surged. As pointed out by industry researcher Kevin Rooke, Bitcoin’s mining difficulty has reached an all-time high of 7.46 trillion. The thing is, we’re still down by around 55% from BTC’s all-time high of $20,000, and public awareness of the cryptocurrency space is still much lower than it was back in 2017. For those unaware, mining difficulty refers to how hard miners need to work to solve one block.

This comes after mainstream media, namely this one report from MarketWatch, called for a “death spiral,” whereas miners would fold en-masse, sending BTC into the ether. This booming difficultly figure shows that this isn’t the case. As Andreas Antonopoulos, a legendary Greek-British Bitcoin educator, once explained:

“If [miners] wait until the difficulty retargets and the difficulty becomes less, then each miner who waits makes more profit because in the new scheme they have a greater percentage of the mining power than they did before. Let’s say if the mining power drops by 50%, the miners who stick around and wait for the difficulty to retarget are now twice as profitable after the retargeting.”

This is just the start though. Bitcoin’s hash rate has neared an all-time high, reaching 58 million terahashes per second this week. And also, the number of transactions being made with BTC have skyrocketed.

Market Infrastructure Strengthening Too

Not only are on-chain fundamentals extremely strong, but Bitcoin’s underlying market infrastructure too. Over the past few months, the market has seen a massive uptick in interest from institutions and corporations, most of which are looking to solidify this market is something that is here to stay.

This strong infrastructure is what some, like BitPay’s Sonny Singh, believe is what is behind the recent Bitcoin run, and why the ongoing bull market is likely just getting started. Per previous reports from Ethereum World News, this surge both in public awareness and in the press has much to do fundamentals. He explains that while 2017’s boom and 2018’s massive downturn was driven by hysteria and “momentum”, Bitcoin’s jump from $3,200 to $8,000+ is actually backed by infrastructural developments. The Bitpay C-suite member names the following developments:

  • JP Morgan’s JPM Coin: Earlier this year, the banking giant launched its own cryptocurrency on Quorum, a private version of the Ethereum blockchain meant for more enterprise-specific tasks. JP Morgan has been using the digital asset as a way to transfer value inter-bank but intends to allow JPM Coin to see use in brick and mortar/online stores in the future. While JPM Coin is incompatible with Bitcoin, analysts suggest it will warm the public up to the idea of cryptocurrency.
  • AT&T Accepts BitcoinAnnounced last Thursday, AT&T, a Texas-based American technology giant valued at $234 billion, will be accepting Bitcoin payments for its services through BitPay. Per a press release, AT&T is now the first “major U.S. mobile carrier” to provide its millions of customers with the ability to purchase services for cryptocurrency. This doesn’t mean that the firm is accumulating BTC per se, but it does show that AT&T acknowledges BTC as a viable medium of exchange.
  • Square’s Cash Offering BTC: Although Square’s Cash App has been offering Bitcoin purchases and sells for its clientele since the peak of 2018’s boom, the company has continued to sell more and more BTC quarter-over-quarter. What’s more, Cash is continually near the top of the U.S. App Store, and the Bitcoin service is built right in, thereby increasing public awareness of Bitcoin greatly.
  • Fidelity Investments Offering Bitcoin Custody, Trade Execution: Fidelity Investments, one of the world’s largest asset managers, has begun to offer an institutional-centric cryptocurrency custody and trade execution service for beta testers in its 20,000-odd non-retail clients.

Singh notes that these underlying shifts in cryptocurrency infrastructure confirm the validity of this asset class, and “is making people really excited, as is the light at the end of the tunnel for use cases.” He concludes with the idea that $9,000 is just the tip of the iceberg for Bitcoin, looking to the fact that many cryptocurrency projects from big-name corporations have yet to launch, or haven’t even been announced yet.

Original article written by Nick Chong and posted on the EthereumWorldNews.com site.

Article posted on Markethive by Jeffrey Sloe

Visit MarketHive to learn more: http://markethive.com/jeffreysloe

Litecoin LTC Leading in 10 Billion Crypto Market Surge

Litecoin (LTC) Leading in $10 Billion Crypto Market Surge

A crypto correction that started a couple of days ago was quickly quashed when Bitcoin found support and moved back towards $8k once again. Since then the altcoins have been on fire with some, such as Litecoin, surging ahead of the pack.

Another $10 Billion Back into Crypto

From a low of $243 billion yesterday crypto market capitalization has pumped to a high of $254 billion before stabilizing at around $250 billion where things currently sit. Daily volume has surpassed $80 billion once again which is extremely bullish. May has seen some of the highest volumes on record and they have been maintained which has kept markets buoyant.

Bitcoin has made it back over $8k one again, hitting an intraday high of $8,140 according to Coinmarketcap.com. The bullish sentiment has resulted in a further 2 percent gain from Bitcoin which has yet to have any real pullback in this current rally. After spending the majority of April at around $5,300 BTC has found a new resistance zone around $8,000. Its market dominance is currently 56.6 percent and the altcoins are leading the digital race today.

ecosystem for entrepreneurs
Markethive Advertisement

Litecoin Ignited in 20% Pump

Litecoin is one of the top performing altcoins at the time of writing. It has surged from $88 to $104 over the past day and reached its highest level for almost a year. There is massive resistance at $100 which LTC has already hit last week. A move above it could send the ‘silver of crypto’ surging in a parabolic pump mirroring that of December 2017. LTC has trounced EOS to take fifth spot with a market cap now exceeding $6.4 billion.

The halving event in 73 days is likely to be driving early momentum for LTC which is bound to trade a lot higher as August approaches. Coin scarcity and increased demand could push prices back to their all-time highs of $370.

Binance Coin is also trading well and has just made a new all-time high at $34. A 7 percent surge on the day has been the result of the world’s top exchange announcing margin trading features. Though it can’t catch Litecoin at the moment, EOS has made 8 percent and is up to $6.50 at the time of writing.

The momentum for crypto markets is holding and May is shaping up to be another month of solid gains. Crypto market cap has doubled since the beginning of the year indicating that things have finally lifted off the bottom and the bulls are running the show now.

Original article written by Luke Thompson and posted on the EthereumWorldNews.com site.

Article posted on Markethive by Jeffrey Sloe

Visit MarketHive to learn more: http://markethive.com/jeffreysloe

Sharing information with Vemma distributors on the smart way to build a business