Bitcoin's current market structure is similar to its setup before reaching its all-time high in November 2021, suggesting a potential bullish trajectory for the leading cryptocurrency, according to crypto expert Credible Crypto, who believes a breakout from the accumulation range could lead to a 120% rally and new all-time highs this year. However, a drop below $24.8k would invalidate this prediction.
Bitcoin and other cryptocurrencies are facing intense pressure as prices drop and short-term holders offload their assets, signaling a possible capitulation phase and suggesting further downside potential. Additionally, major altcoins like Ethereum, Solana, and Cardano have witnessed a decline in their Total Value Locked (TVL) over the past week, indicating a decrease in popularity and utilization in the decentralized finance (DeFi) ecosystem.
Bitcoin and Ether both rose over 3% as the crypto market recovered from its losses last week, while alternative cryptocurrencies also saw gains; however, experts remain divided on the future of prices, with some predicting continued downtrend and others expecting a rebound.
Bitcoin and Ether rose over 3% to reach their highest prices in a week, while Solana, NEAR, Cardano, Polkadot, and Binance's altcoins also experienced gains, following a surge in traditional markets; however, experts predict that the downtrend in digital assets may continue for the next few weeks.
Bitcoin price reaches a 2-month low, but crypto analyst Michaël van de Poppe predicts a positive change in the future due to market cycle theories and the upcoming Bitcoin halving in 2024, potentially reaching a price of $50-55K pre-halving.
Bitcoin and altcoins are currently in a ranging market, with uncertainty about the next directional move, making it advisable to wait for a breakout before placing large bets.
Bitcoin may experience a period of stagnation before turning bullish again, according to crypto analyst Jason Pizzino, who believes that the cryptocurrency could remain in its current pattern for the next couple of months before potentially surging in late 2021 or early 2024.
Key social metrics suggest that cryptocurrency markets may soon rebound, as the use of the term "bear market" has reached an 11-week high on social media platforms, which historically indicates that price rises are likely; additionally, deep-pocketed investors are accumulating Bitcoin again, contributing to a recent rally.
Bitcoin remains on track for a massive bull cycle despite recent price decline, as indicated by broader indicators of its price patterns and the use of logarithmic growth curves. The 200-week moving average is seen as less significant as a key price support level for Bitcoin, and the analyst is also looking for an entry point for Ethereum.
Altcoin Pepe has seen a significant drop against Bitcoin, leading crypto strategist Credible Crypto to warn of potential similar price declines for other altcoins, while also predicting a rise in Bitcoin's dominance in the market.
Ethereum's price has surpassed Bitcoin's in the second half of 2023, as investor sentiment towards Ethereum has improved and Bitcoin dominance has declined, indicating a shift towards altcoins; Ethereum's oversold status and resilient consolidation above $1,500 suggest a potential bullish reversal in the coming days, but a drop below $1,500 is possible if bears gain control.
Following Bitcoin's recent price fluctuations and failure to meet short-term bullish expectations, the altcoin market is expected to have a substantial recovery rally in the coming week, with Ethereum, Litecoin, and Shiba Inu potentially leading the way.
The cryptocurrency market has experienced a recent decline in prices, particularly for Bitcoin, Ethereum, and Dogecoin, leading to concerns among traders and investors. Despite this, there is optimism surrounding the performance of the top 5 altcoins (DOGE, SHIB, SFP, OCEAN, FET) in the coming weeks, with AI-driven projects generating hype and potential gains.
Bitcoin's velocity has decreased to a 3-year low, potentially suggesting that whales are holding onto their positions rather than transferring ownership to new investors. Meanwhile, select altcoins like Toncoin, Monero, Mantle, and Quant are showing signs of strength and could present short-term trading opportunities depending on Bitcoin's next move.
The upcoming Bitcoin halving event is expected to drive the price of Bitcoin to a new all-time high, potentially surpassing $100,000, according to analysts and investors, despite the current lack of fresh inflow to the crypto market and macroeconomic challenges. Hut 8 vice president Sue Ennis believes that the Bitcoin price will rise above $100,000 in the next year, citing the increasing hash rate and the entry of new participants into the global Bitcoin network. Ennis also mentioned the importance of revenue diversification for miners to stay profitable after the halving, including exploring AI applications and offering ASIC repair services. Additionally, Ennis expressed optimism about the potential approval of a spot Bitcoin ETF, which she believes would be bullish for the asset class.
Former Goldman Sachs executive Raoul Pal believes that Bitcoin may be on the verge of a massive rally, based on the historical volatility of the cryptocurrency dropping below 20, a level that has preceded significant price increases in the past. Pal also notes that Bitcoin's Bollinger Bands, a volatility indicator, are the tightest they have ever been, further indicating the potential for a strong upward movement. Ethereum is also highlighted as trading within a bullish pattern despite recent market corrections.
Bitcoin pulled back from its all-time high above $28,000 as investors analyzed the implications of Grayscale's court victory against the SEC, with the cryptocurrency dropping 2% to $27,240, while Ether decreased 1.7% to just above $1,700, leading to a decline in the broader crypto market.
Crypto analyst Benjamin Cowen believes that Bitcoin is likely to follow its historical bearish price action seen in pre-halving years and predicts that the cryptocurrency will remain within a range of $12,000 to $35,000 for the rest of 2023.
A trader predicts that Bitcoin will reach a new all-time high before the end of 2023, with the possibility of a 157% rally from the current level.
Crypto analyst Nicholas Merten warns that the altcoin market could lose $60 billion, with Ethereum failing to break above $2,000, indicating a bearish pattern, and he plans to short Bitcoin as well.
Bitcoin is likely to experience a deep corrective move in September, with a potential drop of over 10% from current levels, according to crypto strategist Benjamin Cowen, who also suggests that the altcoin markets may see a resurgence next year due to a confluence of macro tailwinds.
Some altcoins like OKB, Ocean Protocol (OCEAN), Bitcoin Cash (BCH), and Toncoin (TON) show potential for bullish trends in September, with OKB potentially hitting a new all-time high at $72.10. However, a breakdown in the support areas could result in bearish trends for these cryptocurrencies.
Despite the current market conditions, a crypto strategist believes that Bitcoin (BTC) could experience a significant upward movement, potentially forming a bullish higher-low setup after a possible drop to around $23,600.
Bitcoin's four-year cycles may not be directly linked to halving events, as an alternative theory suggests that they are more closely correlated with the global M2 money supply and macro patterns. However, analysts still anticipate a rally and new bull cycle following the next Bitcoin halving event in late 2024.
Bitcoin (BTC) has remained stagnant below $26,000, with investors waiting for further developments in the cryptocurrency market and the wider economy, while Ether (ETH) is expected to outperform BTC in September and October due to the potential approval of the first ether ETF in mid-October. Additionally, SOMA Finance plans to sell tokens that represent a financial interest, addressing the criticism that crypto tokens lack equity or debt claims. Binance continues to dominate the crypto market as the leading exchange.
Bitcoin (BTC) could reach $35,000 by the end of 2023, according to veteran analyst Filbfilb, who also predicts a potential price dip to the low $20,000 range before a reversal in Q4 and a price target of $46,000 by the 2024 halving. He believes that altcoins like XRP and Dogecoin (DOGE) could perform well in the next cycle.
Bitcoin (BTC) remains near a key long-term trendline as the U.S. dollar strengthens, with market participants predicting further downside for BTC and altcoins.
The upcoming Bitcoin mining reward halving in April 2024 is anticipated to boost the cryptocurrency market, although previous halvings did not single-handedly initiate bull runs, as macroeconomic factors like fiat liquidity conditions also played a significant role, according to MacroMicro data. The growth rate of the M2 money supply by major central banks, including the U.S. Federal Reserve, European Central Bank, Bank of Japan, and People's Bank of China, is expected to impact the magnitude of the halving-induced uptrend.
Bitcoin could experience one final correction of up to 10%, according to crypto analyst Michaël van de Poppe, who advises long-term bulls to see it as an opportunity to increase their BTC holdings. However, if Bitcoin manages to stay above the 200-week EMA, it could continue to move upwards.
Bitcoin must surpass a key price level in order to signal the end of its price stagnation, according to analyst Credible Crypto, who believes that Bitcoin dominance is rising and altcoins will suffer as a result.
The top crypto exchanges in the world are dominating the market, with the eight largest platforms accounting for over 91% of market depth and 89% of trading volume, according to crypto insights firm Kaiko. Binance remains the leading exchange, with a market share of 64.3% in 2023, but liquidity is concentrated within a few exchanges, leading to concerns about decentralization. Altcoin liquidity has also suffered due to regulatory issues in the US, with Coinbase, Kraken, and Bitstamp holding the majority of altcoin liquidity.
Bitcoin's hash rate is near a record high, addresses holding 0.1 BTC are at an all-time high, and the amount of Bitcoin held on exchanges is declining, indicating bullish fundamentals for the cryptocurrency.
Despite the overall bearish trend, crypto strategist Benjamin Cowen believes Bitcoin could see occasional rallies, following the recent death cross formation, with three potential scenarios playing out, including a possible 12% increase from the current level.
Bitcoin could potentially surge over 70% in a move similar to 2015, as crypto analyst Michaël van de Poppe observes patterns that indicate a sustained trading range before a significant upside move ahead of the 2016 halving event.
The price of Bitcoin is slightly lower but still up 2% from a week ago, as concerns over a potential market dump by FTX are mitigated by positive news from Franklin Templeton and Deutsche Bank, although altcoins show weakness.
A crypto analyst has shared a "cheatsheet" for predicting Bitcoin price movements ahead of the next halving, suggesting that BTC's current prices are within the expected pre-halving range and that a post-halving rally is likely.
Enterprise-focused altcoin VeChain experiences a surge in value following its listing on Coinbase, rising 17.8% in one day, with its associated gas token VeThor also increasing by 85% after the news.
Bitcoin (BTC) is showing signs of a relief rally as it aims to end the week in positive territory, with the potential for further upward movement if it maintains above $26,500; meanwhile, select altcoins like Maker (MKR), Aave (AAVE), THORChain (RUNE), and Render (RNDR) are also experiencing positive developments.
Bitcoin has the potential to rally and reach a new high in 2023, according to an analyst, who also states that the current price action looks constructive after a period of downward trend.
Bitcoin, ethereum, BNB, and XRP have experienced a strong price rally in 2023, but a small cryptocurrency has surpassed them, while the Federal Reserve's interest rate decisions could impact the bitcoin price.
Bitcoin's market dominance rate has reached its strongest level in a month, rising to 50.2%, as risks rise for the rest of the cryptocurrency sector, while alternative cryptocurrencies may be on the brink of breaking lower.
Bitcoin could experience another parabolic rally and potentially reach over $80,000 following its 2024 halving event, according to a popular crypto analyst.
Bitcoin and other cryptocurrencies experienced a rise in value as traders made bullish bets in anticipation of the Federal Reserve's interest rate decision, though this surge may be premature.
Crypto strategist Benjamin Cowen predicts that Bitcoin will experience a short-term rise to test its bull market support band before resuming its downward trend, potentially falling below $20,000, although he believes it could eventually break through the band and enter a sustained bull market.
Altcoins are expected to struggle for the rest of 2023 based on historical patterns, according to crypto analyst Benjamin Cowen, who also warns that Bitcoin may close the month in the red as it did in 2019.
