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.
The recent surge in Bitcoin's price on the Kraken exchange could signal a market reversal, according to believers of the "Kraken magic" theory, suggesting that large-scale purchases on regulated platforms indicate a whale's confidence in the asset's future performance. However, caution is advised as relying solely on price anomalies on one exchange may not accurately predict broader market trends.
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.
Analyst Nicholas Mertens warns that both Bitcoin and Ethereum are likely to face significant challenges and potential price declines, with Ethereum at risk of breaking support and dropping below $1,000 due to a lack of buyers.
Ethereum may have reached a bottom in the bear market and is expected to break out from an ascending triangle pattern, according to crypto strategist Credible Crypto, who predicts a consolidation between $1,600 and $2,000 for the rest of the year before a surge in early 2024. However, they also hold a bearish view for ETH/BTC in the short term.
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.
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.
Bitcoin prices experienced a sudden drop last week, with analysts attributing it to large liquidations of perpetual futures and a report that SpaceX had sold the cryptocurrency, while industry insiders have mixed opinions on the impact of spot bitcoin ETFs and Coinbase's investment in Circle.
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.
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 experienced a dip in price after the U.S. Federal Reserve Chair hinted at the possibility of an interest rate hike, but an on-chain indicator suggests that Bitcoin is undervalued and presents a good opportunity for long positions in the coming week.
Summary: Meme cryptocurrencies, including Pepe, LUNC, and SHIB, have experienced price corrections but show potential for a rebound with bullish reversals and recovery rallies expected.
Investors are turning their attention to altcoins like $ROE from Borroe, which harnesses AI and blockchain technology, offers a range of features, and has a deflationary token with potential for capital appreciation. Meanwhile, Ripple's $XRP and Filecoin's $FIL are gaining momentum, and Ethereum's price volatility may be mitigated by the potential approval of Ether futures ETFs by the US SEC.
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's price is closely linked to stock prices and has seen significant growth, outperforming Amazon over a 12-year period, according to Bloomberg analyst Mike McGlone; however, he is skeptical about its move into the mainstream and warns of potential price declines when the masses invest. Other analysts speculate on Bitcoin's price, with predictions ranging from a dip to $23,500 to exceeding $30,000 by year-end. McGlone is known for identifying unique trends in Bitcoin, and JPMorgan suggests that the recent crypto asset selloffs are mostly over.
Crypto analyst Michaël van de Poppe suggests that altcoins, including Ethereum, are following a historical pattern before Bitcoin halving events, indicating a potential bullish move in the 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.
Bitcoin's price dropped below $26,000 as the approval of a Bitcoin ETF was further delayed by the SEC, reversing the bullish gains from the Grayscale court decision earlier in the week. The crypto market also experienced a decline, with Ethereum's price going down by 3.5% and the overall market cap losing $11.2 billion. However, Maker and Toncoin managed to resist the bearish trend with positive gains. The global macroeconomic landscape also added to the uncertainty, as key economic data raised doubts about a potential interest rate hike.
Bitcoin's recent legal victories and temporary price surges should not be mistaken for long-term catalysts, as the approval of a spot ETF, liquid staking capabilities, and the upcoming halving event hold the key to sustainable price appreciation.
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.
Bitcoin and other cryptocurrencies are experiencing a decline as analysts predict further decreases ahead.
Ether's price has been supported by the Federal Reserve's injection of $300 billion, but doubts are growing about its ability to sustain this level due to bearish sentiment in the cryptocurrency market and declining metrics on the Ethereum network, including a decrease in the number of ETH investors and a decline in activity on decentralized applications. Competitors such as Solana are also benefiting from stablecoin volumes, and there is an increased likelihood of Ether's price dropping below the $1,600 support level.
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 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's weak performance and its potential "double top" structure raise concerns of more downside, with predictions of new local lows; however, there are indications that Bitcoin may experience a major shakeout before rebounding to "fair value" and the 200-week EMA near $25,600 may offer some optimism; debate ensues over the possibility of Bitcoin filling the $20,000 CME futures gap; liquidity levels on BTC/USD markets continue to increase, adding to bearish predictions; ahead of the Federal Reserve meeting, the United States Consumer Price Index (CPI) data release on September 14 brings potential volatility to the market and may impact crypto market expectations.
Dogecoin (DOGE) price is facing selling pressure and is underperforming Bitcoin, with analysts predicting a potential bearish trend and a downside move if it fails to break above the critical $0.058 level.
Bitcoin, Ethereum, and other cryptocurrencies have been experiencing a steady decline in prices due to concerns from the Federal Reserve, leading to warnings of a potential price crash, although some analysts remain hopeful for improvement.
Analyst Bluntz predicts that Ethereum (ETH) will continue its bearish price action and potentially drop to $1,440 before rallying, while other trader Benjamin Cowen believes the digital asset could experience a massive freefall, potentially reaching lows below $800.
Bitcoin's recent dip below $25,000 is seen by some as a buying opportunity, but the low amount of BTC changing hands and the risks associated with a potential price increase suggest otherwise.
Bitcoin, ethereum, and other top cryptocurrencies have been struggling recently despite the market conditions, as the bitcoin price drops and Coinbase plans to integrate bitcoin's lightning network, potentially causing crypto price chaos.
Bitcoin's vulnerability to contracting global liquidity is highlighted by Bloomberg Intelligence's crypto market analyst Jamie Coutts, who suggests that the cryptocurrency will only turn bullish when global liquidity levels expand, warning that it is unlikely to rise until liquidity reverses and anticipating that institutional investors will only show significant demand for digital assets once liquidity rises.
Crypto veteran Arthur Hayes believes that Bitcoin (BTC) can rise in price regardless of the U.S. Federal Reserve's decision on interest rates due to the government's continued spending and the shift towards hard financial assets.
Bitcoin's pre- and post-halving price action could differ from previous cycles due to a change in global monetary policy and tightening liquidity, potentially causing more pain for risk assets like Bitcoin and altcoins, according to crypto market analyst Jamie Coutts.
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.
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.
Bitcoin and other cryptocurrencies have seen a rise in price as traders anticipate a potential macroeconomic catalyst that could lead to a significant movement in the market.
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 is expected to mimic its previous rally and potentially see significant gains in the near future, according to crypto strategist Credible Crypto, who points to a bullish engulfing candle pattern and the defense of a key support level as positive signs for BTC's upward momentum.
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.
Crypto strategist Credible Crypto suggests that Bitcoin could dip to around $24,900 but still remain on track for a bull market cycle, and he is closely monitoring Bitcoin options open interest as an indicator for the market bottom.
Ether (ETH) has experienced a modest increase in price in 2023, but it is still trading significantly below its peak in November 2021, raising questions among investors about the reasons behind the decline and potential catalysts for a reversal. The ongoing legal battle between Ripple and the SEC, as well as regulatory uncertainties surrounding the Ethereum ICO, remain sources of concern. However, positive surprises such as the request for a spot Ether ETF and Ethereum's position to benefit from Bitcoin-related catalysts give hope to investors.
