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 (BTC) faces uncertainty and fear in the market as it struggles to recover from a 10% crash, with short-term holders experiencing increasing unrealized losses and on-chain transactions setting multiyear highs. Traders are cautious about the outlook, but historical patterns and upcoming events, such as the Jackson Hole Economic Symposium, may provide opportunities for recovery.
Crypto data platform Santiment suggests that the right time to accumulate Bitcoin and altcoins is when trader sentiment on major social media platforms is neutral, indicating a lack of optimism or pessimism.
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 could reach a new all-time high faster than expected as the co-founders of Glassnode predict that the peaking US dollar index will create a "prime Bitcoin environment," with a projected surge to over $144,000 by early 2024.
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.
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.
Glassnode and Ark Invest have collaborated to develop a new economic metric for the Bitcoin network called Cointime Economics, which offers a suite of analysis tools and metrics to improve valuation models and measure the network's dynamics. The metric focuses on coinblocks created, destroyed, and stored, and provides a consistent framework for measuring Bitcoin's economics.
Renowned author Nassim Nicholas Taleb has predicted the downfall of Bitcoin, stating that its eventual demise will be due to "inexorable decay" rather than a crash, highlighting concerns about dwindling interest and market manipulation.
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.
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, as the world's first decentralized digital currency, is challenging traditional notions of money by empowering individuals, offering a store of value, and demonstrating a growing network effect. With its scarcity, transparency, and potential for financial inclusion, bitcoin is positioning itself as a transformative force in the digital age.
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 is trading near the $26,000 level and uncertainty about its next move suggests a limited downside in the near term, with hopes for approval of a spot Bitcoin exchange-traded fund by the SEC potentially providing support.
Altcoins could potentially rally ahead of the Bitcoin halving, according to cryptocurrency analyst Michaël van de Poppe, who believes that the Bitcoin dominance chart suggests a surge in altcoin value rather than a downward market. Van de Poppe is also bullish on Ethereum against Bitcoin, predicting a rise in ETH/BTC to 0.06992 BTC.
Bitcoin is expected to experience a corrective move before resuming its bullish momentum and potentially surpassing its previous highs, according to a pseudonymous analyst who accurately predicted the lowest price of the cryptocurrency during the 2018 bear market.
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.
Bitcoin is trading within a narrow range and could form a third consecutive Doji candlestick pattern, indicating a firm bear grip on the overall cryptocurrency market. However, some asset management firms are showing seriousness about implementing digital strategies, which could potentially impact Bitcoin's buying interest in altcoins.
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.
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.
Bitcoin is expected to experience an upward surge following a bounce off a large ascending channel and the decline of its risk signal, according to Glassnode founders, potentially leading to a breakout past $27,000 and a rally to higher prices near $150,000.
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 (BTC) shows optimism as it starts the week with the first green weekly candle in over a month, with price strength improving and network fundamentals reaching new records, while traders await the U.S. Federal Reserve's interest rate decision for potential volatility.
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 and other cryptocurrencies experienced a rise prior to the Federal Reserve's decision on interest rates, signaling possible volatility in the market.
Bitcoin is expected to experience a strong upward pressure on its price due to the upcoming halving mechanism, making it an attractive time for investors to consider bitcoin mining stocks like Bitfarms and Cipher Mining.
Bitcoin and other cryptocurrencies are experiencing a decline in prices due to a strengthening dollar and risk-aversion, but there is hope for a rebound.
Bitcoin is poised for a bull run next year according to analyst Dave the Wave, who cites the cryptocurrency's monthly moving average convergence divergence (MACD) and logarithmic growth curves (LGC) as indicators of a maturing market and potential price increase, although short-term volatility is still possible.
Bitcoin is on the verge of reaching levels that offer accumulation opportunities and could potentially start an uptrend, according to crypto trader Michaël van de Poppe, who compares the current price action to that of a pre-halving year.
Bitcoin and other cryptocurrencies remained stable or slightly increased in value despite market turbulence, raising questions about the stability of Bitcoin.
Bitcoin and other cryptocurrencies are rising as traders are optimistic about the potential of a US government shutdown, despite the risk of liquidity drainage.
Bitcoin (BTC) starts Uptober with a bullish move past $28,000, marking its best weekly close since mid-August and sparking excitement about potential price gains in October. Meanwhile, Bitcoin network fundamentals are not reflecting the bullish sentiment, as mining difficulty is set to decrease at its next readjustment on October 2.
Bitcoin is expected to continue its upward trajectory, leaving behind traders who are waiting for a further correction, according to crypto analyst Credible Crypto.
Crypto strategist predicts that Bitcoin will enter a massive bull run and reach new all-time highs once it surpasses a key support level, but warns that bearish speculation from the stock market could decrease momentum.
Bitcoin is poised to reach new highs, according to crypto analyst Michaël van de Poppe, while Chainlink may undergo one final correction before a breakout that could extend into 2024.
Bitcoin could face difficulties in the long term due to tightening liquidity in the current macroeconomic environment, according to crypto analyst Nicholas Merten. Merten believes that Bitcoin's price is heavily influenced by monetary policy and warns that if sentiment turns bearish, investors may start cashing out.
