The Bitcoin price has continually tested resistance levels above $95,000 in its pursuit to reach and surpass the anticipated $100,000 all-time high. Following its surge to $98,000, a crypto analyst has asserted that the BTC price has officially entered the parabolic phase of this four-year market cycle. Related Reading: Is $10 Within Reach For Cardano? Whale Moves Signal Big Rally Ahead Bitcoin Price Enters Parabolic Phase Popular crypto analyst Rekt Capital has declared to his 517,800 followers on X (formerly Twitter) that Bitcoin, the world’s largest cryptocurrency, has officially and completely transitioned into its “Parabolic Upside phase” this bull cycle. The analyst shared a chart illustrating the coin’s price action during the 2021 bull run and the current bull cycle. After its halving event in 2022, the Bitcoin price experienced a massive rally that pushed it to its 2021 all-time high of over $64,000. At the time, Bitcoin had experienced a significant correction before fully entering its bullish upside phase. Interestingly, a similar trend can also be seen in this bull cycle, signaling a possibility of more price rallies. In the last few months, the BTC price entered a re-accumulation phase characterised by slight declines and consolidation before recording a subsequent rally above $99,000. Rekt Capital disclosed that after BTC hit $98,000, the pioneer cryptocurrency had successfully entered its parabolic upside phase. This phase suggests that Bitcoin could rise even higher, matching analysts’ expectations in this bull market. On November 27, Rekt Capital also shared a post illustrating the crypto asset’s steady progression into the parabolic phase. He pointed out that the cryptocurrency was on the verge of exiting a reaccumulation phase and transitioning into the parabolic upside, as indicated by the green zone on the price chart. Bitcoin Price: $100,000 ATH – Now Or Never The crypto community is on an intense bullish ride, as analysts and investors widely anticipate the Bitcoin price surge to $100,000. The leading cryptocurrency has been trading just shy of the $100,000 mark, experiencing a price increase above $98,000 at some point in the past week. A crypto analyst identified as Trader of Crypto on X is tapping into this strong bullish trend, announcing that “the clock is ticking” for Bitcoin to reach $100,000. His statement underscores how close Bitcoin is to reaching the milestone during this cycle. Trader of Crypto has also stated that it is only a matter of time before Bitcoin breaks past the anticipated $100,000 all time high. While the analyst has maintained a bullish outlook on Bitcoin, he has also presented a price chart that suggests that the cryptocurrency could experience a crash towards $46,757 if bears take over. Related Reading: Hoskinson’s Bold Bitcoin Forecast: $500K Fueled By DeFi And Global Interest The Bitcoin price is currently trading at $96,965, marking a 1% increase in the past 24 hours, according to CoinMarketCap. Featured image from Pexels, chart from TradingView
A known personal finance book author joined many cryptocurrency analysts in saying that Bitcoin could hit $100,000 anytime soon as the crypto reached the $96,000 mark today. American author Robert Kiyosaki made a controversial stand after commenting that the psychological phenomenon of the fear of missing out (FOMO) can be a positive driving force that will push investors to buy the top crypto before it reaches the $100,000 level. Related Reading: Hoskinson’s Bold BTC Forecast: $500K Fueled By DeFi And Global Interest Bitcoin: The Challenge To Invest Kiyosaki warned that once Bitcoin surpassed the $100,000 level, it would be challenging for the middle class to invest significant amounts in the firstborn crypto, urging them to invest now that the digital currency is still below the said level. “Once Bitcoin passes $100,000 it will be almost impossible for the poor and middle class to catch up,” Kiyosaki said. The American author explained that once Bitcoin becomes more accessible only to the ultra-wealthy, holders of traditional fiat currencies such as the dollar, euro, and yen will lose out. Kiyosaki, who is an advocate of alternatives to fiat currencies such as gold, silver, and Bitcoin, argued that if BTC breaks the $100,000 level, “only the ultra-rich such as corporations, banks, and sovereign wealth funds will be able to afford Bitcoin of any consequence.” THE RICH WILL GET RICHER: Q: WHO WiLL BE RICHER? A: The people who save Gold, Silver. Bitcoin. I own all three financial assets. Q: WhO WILL BE POORER? A: The people who save dollars, Pesos, Yen, Euro, & Loonies. As I warned in Rich Dad Poor Dad “Savers are losers…because… — Robert Kiyosaki (@theRealKiyosaki) November 29, 2024 Embracing FOMO Ever since Kiyosaki has been promoting investment in Bitcoin, he believed that the crypto offers an opportunity to better protect wealth than the traditional currencies. Now that BTC is nearing a new all-time high, Kiyosaki urged people like those in the middle class to invest in Bitcoin, saying that if they are hesitant, they can embrace the FOMO mentality. “FOMO is good. Don’t be left behind!” he added. He explained that the fear of missing out on the Bitcoin opportunity could pull people to invest in the crypto so they could benefit when the coin reaches new heights. Fiat Savings Not Good The author dispelled people from saving, saying that ‘savers are losers” because, in his opinion, “cash is trash.” Kiyosaki explained that holding Bitcoin is better than saving in cash because traditional fiat currencies have to contend with inflation which reduces its value over time. Related Reading: Is $10 Within Reach For Cardano? Whale Moves Signal Big Rally Ahead In an X post, he urged people to diversify their assets and invest in alternatives such as Bitcoin, claiming that government monetary policies and inflation will continue to “erode the purchasing power of traditional currencies.” He pointed out that today is the right time to invest in BTC because once the coin breaches the $100,000 milestone, it will be nearly impossible for most people to get hold of it. As of press time, BTC is being traded at $96,722 per coin, with a total market capitalization of $1.9 trillion. Featured image from Pexels, chart from TradingView
In a major move towards successfully regulating digital assets in the country, Russian President Vladimir Putin has signed a law that creates a new legal framework for taxing Bitcoin mining and transactions, recognizing them as property and setting the stage for formal taxation. Russia’s New Bitcoin And Crypto Tax Law According to local media reports, […]
Bitcoin’s risk indicators, critical metrics that help to determine the next direction of BTC’s price have risen significantly alongside the crypto asset’s ascent towards various pivotal levels, indicating a potential sell signal. Risk Levels For Bitcoin Rises To A Historical Point In a recent insightful report, Alphractal, an advanced data analysis and investment platform has […]
Although currently undergoing a brief correction after almost touching the $100,000 price level, technical analysis has shown the emergence of a bullish pattern on the Bitcoin price chart. Notably, the correction has given rise to the formation of a bullish pennant on the 3-day candlestick Bitcoin price chart. This development might be the bullish momentum needed to eventually break past the $100,000 price threshold. However, the anticipated breakout is not just above $100,000, but a run that would send the cryptocurrency to $145,000. Bullish Pennant Emerges On Bitcoin Price Chart Recent price action in the past 24 hours has seen the Bitcoin price returning to the $96,000 price level after spending the majority of the week on a correction path. Particularly, this correction saw the Bitcoin price hitting a low of $91,000 as many traders took profit. Related Reading: Analyst Maps Out Dogecoin Price Arc To $3 Using A Logarithmic Scale Notably, this back-and-forth movement of the BTC price has given rise to the formation of a small bull pennant. Crypto analyst Trader Tardigrade, known for his technical analyses, pointed out this formation on social media platform X. In his post, he stated, “Small Pennant Big Target,” while pointing to the formation on the 3-day candlestick Bitcoin price chart. A bullish pennant is a continuation pattern that often emerges during strong uptrends. It begins with a sharp price movement (the flagpole), followed by a consolidation phase (the pennant), before potentially breaking out in the same direction as the initial trend. The emergence of this bullish pennant on Bitcoin’s 3-day chart suggests that the cryptocurrency may be gearing up for another leg higher. However, the formation suggests that the Bitcoin price could still continue to consolidate for a while as the liquidity in the pennant is yet to be filled. Nonetheless, Trader Tardigrade’s analysis highlights the longer-term implications of this formation. According to his projections, once Bitcoin completes its consolidation and breaks out of the pennant, it could surge toward an ambitious price target of $145,000. The $145,000 price target has become somewhat recurring among crypto analysts. For instance, this price target also made its way into an analysis by crypto analyst Tony Severino, whose analysis pointed to the Bitcoin price top for this cycle at around $145,000. $100,000 Price Target Still In Play At the time of writing, the BTC price is trading at $96,070 and is up by 0.5% in the past 24 hours but down by 3.3% in the past seven days. The possibility of the Bitcoin price reaching the $100,000 price mark is not a matter of if at this point but of when. Related Reading: Bitcoin Price Rejection At $99,000: Temporary Or End Of The Bull Rally? Speaking of when, the BTC price is about to witness another catalyst that could finally send it above $100,000. Bitcoin is about to undergo its largest monthly options expiry of 2024 on Friday, involving a total exposure of $13.6 billion. This expiry event could provide the momentum needed for bullish traders to drive Bitcoin’s price past the $100,000 milestone in the coming week. Featured image created with Dall.E, chart from Tradingview.com
Vancouver is the latest city to join the discussions on adding Bitcoin to the government’s financial reserves. At a city council meeting on November 26th, Mayor Ken Sim submitted his notice of motion, where he plans to introduce his proposed Bitcoin bill on December 11th. Related Reading: Is Bitcoin Suriname’s Future? Presidential Candidate Makes Bold […]
As US markets closed for Thanksgiving Day, the largest cryptocurrency on the market, Bitcoin (BTC), recovered the $96,000 mark, inching closer to its all-time high of $99,500 and the much-coveted $100,000 milestone. Analysts Skeptical Of Sustaining Momentum Toward $100,000 Recent fluctuations in Bitcoin’s price have been attributed to a combination of profit-taking by long-term holders and broader market dynamics. As noted by Andre Dragosch, head of research for Europe at Bitwise, significant amounts of Bitcoin have been distributed into the recent rally, leading to increased supply. Related Reading: Ethereum Price On The Verge Of Repeating 2017-2021 Cycle Breakout, Target Above $20,000 Despite the recent rally, some strategists remain cautious about Bitcoin’s ability to break through the $100,000 barrier. David Morrison, a senior market analyst at Trade Nation, remarked that this psychological threshold seems to have become a formidable hurdle for further price gains. The sentiment among some market participants suggests that Bitcoin’s recent surge may create a “false sense of security,” as highlighted by George Milling-Stanley, chief gold strategist at State Street Global Advisors. Milling-Stanley emphasized that many investors are drawn to Bitcoin “purely for capital gains rather than any intrinsic value or utility” offered by the market’s leading cryptocurrency. Galaxy Digital CEO Warns Of Potential Bitcoin Correction The recent launch of options on spot Bitcoin exchange-traded funds (ETFs) has added another layer to the market’s dynamics. These options enable investors to speculate on Bitcoin’s price movements with less capital compared to outright purchases. This increased leverage could amplify both potential gains and losses, as noted by Galaxy Digital CEO Mike Novogratz, who anticipates a market correction given the high levels of leverage in the crypto community. Related Reading: Hoskinson’s Bold Bitcoin Forecast: $500K Fueled By DeFi And Global Interest Amid these mixed signals, some analysts see potential for a “Thanksgiving rally.” Crypto analyst Ali Martinez identified a key demand zone at $93,580, where approximately 667,000 addresses collectively bought nearly 504,000 Bitcoin. Maintaining this support level is crucial to prevent mass selling from these holders. Martinez’s optimistic forecast suggests that the spirit of the holiday could inspire conversations about Bitcoin among family members, potentially driving renewed interest and investment. The analyst further stated earlier on Thursday: Tonight, coiners are going to tell their families about Bitcoin BTC, triggering some sort of Thanksgiving rally. This is why I think BTC is bound for a rebound to $99,000, and the technicals support it. At the time of writing, the largest cryptocurrency on the market is trading at $96,780, up 10% in the fourteen-day time frame, yet significantly lower of the gains reported the previous two weeks since the recent correction towards the $91,000 level on Tuesday. Featured image from DALL-E, chart from TradingView.com
Switzerland has officially passed legislation to explore Bitcoin mining, signaling a growing acceptance among traditional financial institutions and governments worldwide. This initiative, reported by Dennis Porter, CEO of the Satoshi Action Fund, reflects a broader trend accelerated by recent political shifts, including Donald Trump’s election, which have reignited interest in Bitcoin as a viable financial […]
Crypto analyst TradingShot recently discussed the Bitcoin price rejection at $99,000, providing insights into whether this was temporary or marked the end of the bull rally. His analysis indicated that this price rejection was temporary and that Bitcoin would still reach the $100,000 mark and possibly surpass it. Bitcoin Price Rejection At $99,000 Likely Temporary In a TradingView post, TradingShot suggested that the Bitcoin price rejection at $99,000 is likely temporary. As to what could have caused this price rejection, the analyst noted that this could be due to the exhaustion of the post-election euphoria, as the market has fully priced into the fact that pro-crypto Donald Trump will be the next US president. The analyst added that there is also the psychological weight of the $100,000 barrier, possibly because investors tend to take profit around such levels. From a technical analysis perspective, the analyst explained what could be causing this Bitcoin price rejection at the $99,000 level. TradingShot highlighted a Fibonacci channel that has been going on through the last three cycles, including this one. He noted that this pattern started with a strong rebound that formed the December 2013 top for the Bitcoin price. That cycle top was on the 0.236 Fib level of the cycle, which is a level that has rejected rallies during subsequent cycles. This Fib level rejected the Bitcoin price uptrend on November 22 and is acting as this ‘1st Real Resistance of the Bull Cycle.’ TradingShot stated this is the first major rejection level a bull cycle faces before the eventual market top. The analyst added that the high during the last two cycles has been on the 0.0 Fib level, which is technically at the top of this channel. The analyst’s accompanying chart showed that the target at the top of this channel for the Bitcoin price is above $200,000. However, TradingShot mentioned that the red spot on the current cycle in late 2025 doesn’t represent a projection but is simply an illustration for comparison purposes. When The Market Top Could Happen TradingShot also provided insights into when the Bitcoin price could top in this market cycle. The analyst noted that the past bull cycles have been roughly 150 weeks (1050 days). Therefore, a repeat of this pattern would mean that the Bitcoin top for this cycle could come around late September or early October. The analyst stated that it is much better to try to time the market top and sell rather than put an actual price tag on it. TradingShot added that even though the Bitcoin price is on a technical rejection, the current rally started on the August 5 low, which is exactly in the 1-week 50-day moving average. As long as this trendline holds, the analyst remarked that the cyclical bullish wave should stay intact. Featured image created with Dall.E, chart from Tradingview.com
Bitcoin price is recovering higher above the $95,000 level. BTC is showing positive signs and aims for a fresh increase above the $98,000 level. Bitcoin started a fresh increase above the $95,000 zone. The price is trading above $95,500 and the 100 hourly Simple moving average. There was a break above a short-term contracting triangle with resistance at $95,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could gain bullish momentum if it clears the $97,000 resistance zone. Bitcoin Price Eyes More Upsides Bitcoin price remained stable above the $93,500 zone. BTC formed a base and started a fresh increase above the $94,500 resistance zone. The bulls were able to push the price above the $95,500 resistance zone. There was a break above a short-term contracting triangle with resistance at $95,500 on the hourly chart of the BTC/USD pair. The pair climbed above the 61.8% Fib retracement level of the downward wave from the $98,880 swing high to the $90,735 low. Bitcoin price is now trading above $95,500 and the 100 hourly Simple moving average. On the upside, the price could face resistance near the $97,000 level. It is near the 76.4% Fib retracement level of the downward wave from the $98,880 swing high to the $90,735 low. The first key resistance is near the $98,500 level. A clear move above the $98,500 resistance might send the price higher. The next key resistance could be $98,800. A close above the $98,800 resistance might initiate more gains. In the stated case, the price could rise and test the $100,000 resistance level. Any more gains might send the price toward the $102,000 level. Another Decline In BTC? If Bitcoin fails to rise above the $97,000 resistance zone, it could start another downside correction. Immediate support on the downside is near the $95,500 level. The first major support is near the $94,500 level. The next support is now near the $93,200 zone. Any more losses might send the price toward the $91,500 support in the near term. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $95,500, followed by $94,500. Major Resistance Levels – $97,000, and $98,800.
The price of Bitcoin is back and trading above $95,000 after surging 2.70% from the previous day’s close. The asset’s recovery is a welcome development for holders and investors, who have witnessed a two-day decline, dipping to $90k on November 27th. Related Reading: Critical XRP Warning: Analyst Flags Biggest Reason To Sell Bitcoin’s price surge happened after the market witnessed Tornado Cash’s major court victory. A US Appeals Court reversed a 2022 decision, saying that the Treasury Department acted beyond its authority when it imposed sanctions on the crypto mixing platform. Coinbase joined in the celebration over the court victory since it’s one of the crypto exchanges that supported Tornado Cash. With the recent Tornado Cash court win and favorable macroeconomics, one analyst boldly offers a price prediction for Bitcoin. In a Twitter/X post on the Angry Crypto Show, Cardano’s Charles Hoskinson believes that the world’s top digital asset can hit $250,000 to $500,000 in 12 to 24 months. BREAKING: #Cardano $ADA Founder Charles Hoskinson says “it is my belief that #Bitcoin will go to $250,000 to $500,000 within 12 to 24 months, because of inflows and interest. $BTC is the store of value for the Internet, and will remain in that role now that it has a DeFi layer.” pic.twitter.com/1txPQV61Nl — Angry Crypto Show (@angrycryptoshow) November 26, 2024 Tornado Cash Court Victory Boosts Bitcoin Price In a post by Paul Grewal at Twitter/X, Tornado Cash’s court victory was a “win for privacy.” Grewal reported that the Treasury Department’s sanctions on the crypto mixing platform were unlawful. He added that the recent court decision was a victory for the crypto sector and those supporting freedom. Privacy wins. Today the Fifth Circuit held that @USTreasury’s sanctions against Tornado Cash smart contracts are unlawful. This is a historic win for crypto and all who cares about defending liberty. @coinbase is proud to have helped lead this important challenge. 1/6 — paulgrewal.eth (@iampaulgrewal) November 26, 2024 Tornado Cash’s victory is the latest in a string of wins for the crypto industry, which has helped push Bitcoin’s price up. The crypto sector is also anticipating the next moves of incoming US President Donald Trump, who is expected to adopt crypto-friendly policies. Hoskinson Remains Bullish On BTC For some analysts and observers, Bitcoin’s recent losses were just a retracement, and the bullish sentiment remains. For Cardano’s Charles Hoskinson, Bitcoin remains on the bullish trend, and he thinks that the asset’s price can increase to $250k and $500k in 12 to 24 months. According to Hoskinson, a few factors help boost Bitcoin’s price stability. He mentioned that there is still a growing interest in Bitcoin as an asset. For example, MicroStrategy has been increasing its Bitcoin holdings. Michael Saylor’s company currently holds $32 billion worth of BTC, and its market cap now exceeds $70 billion. Other countries are also interested in Bitcoin, with El Salvador being the top country outside the US in harnessing the asset. Related Reading: Shiba Inu Eyes Explosive Growth: Over 200% Surge Ahead, Analyst Says Continuous Inflow And Interest Help Bitcoin According to Hoskinson, Bitcoin remains bullish for him because of soaring interest and inflows. The Cardano founder says that Bitcoin remains a viable store of value, and it will continue this service now that DeFi is becoming more popular. Recently, Cardano’s Emurgo shared that it’s developing a bridge in collaboration with BTCOS. According to Hoskinson, this new network will feature DeFi apps secured by Bitcoin. He added that developers can design Hybrid Cardano and Bitcoin apps in Aiken and pay fees in BTC. Featured image from DALL-E, chart from TradingView
As Bitcoin is regaining significant upward strength, a notable trend has been spotted among long-term holders as indicated by a huge drop in the average age of wallets holding BTC. The trend demonstrates shifting market dynamics, prompting the modification of positions by retail and institutional players in anticipation of future price fluctuations. A Persistent Drop […]
Chris Giancarlo, a leading candidate to head the US Commodity Futures Trading Commission (CFTC) and author of the book “Crypto Dad,” recently addressed key aspects of President-elect Donald Trump’s ambitious plans for the crypto sector. In an interview with Fox Business, Giancarlo highlighted Trump’s vision of making the United States the global hub for cryptocurrency […]
In the wake of President-elect Donald Trump’s proposal for a strategic Bitcoin (BTC) reserve at the National Bitcoin Conference in Nashville earlier this year, there has been a noticeable uptick in BTC adoption by various countries and companies. This month alone, nine major firms from diverse sectors, including finance, healthcare, and artificial intelligence (AI), have embraced […]
Despite a brief correction towards the $91,000 mark on Tuesday, which represented a 7% drop from its all-time high of $99,500, the market’s leading crypto, Bitcoin (BTC), has regained the strength it has posted over the past three weeks since Donald Trump’s election, on its way to the $100,000 milestone. Coinbase, Robinhood, And MicroStrategy All Post Gains In the 24-hour time frame, Bitcoin recorded gains of nearly 5%, regaining the $96,100 level as a key to reach a new record high in the last days of the month. This bullish price action was expected by experts and analysts throughout the year as a normal upward behavior during Halving cycles, further boosted by Trump’s crypto agenda, which notably include making BTC a strategic reserve for the US. Related Reading: XRP Consolidates Below Crucial Resistance – Analyst Sets $1.60 Target This week marked a notable divergence, as Bitcoin decoupled from the tech-heavy Nasdaq Composite, which fell by 1%. According to CNBC data, the Dow Jones Industrial Average and S&P 500 also experienced declines, yet Bitcoin managed to maintain its upward trajectory. This strength was reflected in the performance of crypto-related stocks, with US-based crypto exchange Coinbase (COIN) up more than 5%, Robinhood (HOOD) up 4%, and MicroStrategy (MSTR) up 10%. Bitcoin Enters ‘Uncharted Territory’ In addition to the bullish outlook provided by the data and figures recorded over the past three weeks in crypto prices, market analysts are optimistic about Bitcoin’s future, with Alex Thorn, head of research at Galaxy Digital, claiming that “the Bitcoin bull market has legs.” Thorn acknowledges the possibility of corrections and “regulatory jitters” stemming from the outgoing Biden administration but believes that increasing adoption from institutional, corporate, and potentially nation-state entities will drive Bitcoin’s price higher in the near to medium term. Related Reading: BNB Eyes Recovery: $605 Support Sets The Stage For A New Rally Katie Stockton of Fairlead Strategies also highlighted that Bitcoin investors are currently in “uncharted territory” regarding resistance levels, meaning there are few historical price points to indicate potential pullbacks. Support is identified around $74,000, suggesting a solid foundation for future growth. Stockton further claimed: Bitcoin does tend to stair step both to the downside and to the upside, meaning that it sees these very sharp runups and then consolidates. People should … be willing to give Bitcoin, and the cryptocurrencies in general, more room because of the volatility there and also because of the long-term potential. With a year-to-date gain of 124%, Bitcoin remains on track to cross the $100,000 threshold before the end of the year. By comparison, Ethereum (ETH), the second largest cryptocurrency, has also performed well since the election but lags behind BTC with a year-to-date gain of 55%. Featured image from DALL-E, chart from TradingView.com
Bitcoin price is recovering higher above the $94,000 level. BTC is consolidating and aims for a fresh increase above the $97,000 level. Bitcoin started a fresh increase from the $91,000 zone. The price is trading above $95,000 and the 100 hourly Simple moving average. There is a connecting bullish trend line forming with support at $95,750 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could gain bullish momentum if it clears the $97,000 resistance zone. Bitcoin Price Recovers Losses Bitcoin price found support near the $91,000 zone. BTC formed a base and started a fresh increase above the $93,500 resistance zone. The bulls were able to push the price above the $95,000 resistance zone. The price surpassed the 50% Fib retracement level of the downward move from the $98,880 swing high to the $90,735 low. There is also a connecting bullish trend line forming with support at $95,750 on the hourly chart of the BTC/USD pair. Bitcoin price is now trading above $95,000 and the 100 hourly Simple moving average. On the upside, the price could face resistance near the $97,000 level. It is near the 76.4% Fib retracement level of the downward move from the $98,880 swing high to the $90,735 low. The first key resistance is near the $98,000 level. A clear move above the $98,000 resistance might send the price higher. The next key resistance could be $99,200. A close above the $99,200 resistance might initiate more gains. In the stated case, the price could rise and test the $100,000 resistance level. Any more gains might send the price toward the $102,000 level. Another Drop In BTC? If Bitcoin fails to rise above the $97,000 resistance zone, it could start another downside correction. Immediate support on the downside is near the $95,750 level. The first major support is near the $95,000 level. The next support is now near the $93,000 zone. Any more losses might send the price toward the $91,000 support in the near term. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $95,750, followed by $95,000. Major Resistance Levels – $97,000, and $98,000.
Bitcoin has experienced a significant rally in 2024, and its price has more than doubled since the beginning of the year to approach the psychological $100,000 mark. Interestingly, Tony “The Bull” Severino, a popular crypto analyst on the social media platform X, suggested when to expect the peak of the BTC price this bull run, […]
Despite recent price fluctuations in the past few days, there is still robust optimism and confidence in Bitcoin‘s potential for a significant rally in the short term. Multiple seasoned crypto analysts have cited the psychological $100,000 as the next key level to watch once BTC regains its upside momentum. Bullish Trajectory Toward $100,000 Hinges On […]
Joana Cotar, a member of the German Bundestag and a longtime advocate of Bitcoin (BTC) adoption, is pushing back against the government’s recent decision to sell its BTC holdings. Having witnessed the sale of approximately 50,000 confiscated Bitcoin earlier this year, Cotar is now championing the idea of establishing a strategic Bitcoin reserve for Germany. […]
A prominent figure in the cryptocurrency space made a bold prediction that Bitcoin could hit a total market capitalization of $15 trillion in the next four years. Pantera Capital CEO Dan Morehead said that global blockchain adoption still lags compared to other global financial assets, saying that blockchain’s untapped potential could drive Bitcoin to an exponential growth in its market capitalization. Related Reading: Shiba Inu Eyes Explosive Growth: Over 200% Surge Ahead, Analyst Says Bitcoin And The $740,000 Target The Pantera executive believes that Bitcoin price could soar to $740,000 per coin, something the CEO said would happen in the next four years. Morehead said that the price surge will be fueled by the growing technology adoption in the financial sector, adding that “blockchain remains largely untapped.” If Bitcoin reaches the $740,000 mark, Morehead predicted that the firstborn cryptocurrency’s total market capitalization could reach a whopping $15 trillion. Pantera Capital CEO predicts Bitcoin at $740K Dan Morehead, CEO of Pantera Capital, highlighted in a letter to investors that the firm’s Bitcoin fund, launched in 2013, has delivered a 132,118% lifetime return, Bloomberg reported. Morehead predicts Bitcoin could eventually reach… — CoinNess Global (@CoinnessGL) November 26, 2024 Some might think that $15 trillion is an exaggerated figure but it is not, according to the crypto executive. Morehead explained that a $15-trillion market capitalization for BTC is still modest, pointing out that global financial assets have a market capitalization of $500 trillion. Financial Wealth Needs Tech Morehead did not pluck his forecast out of thin air, saying that is based on the fact that financial wealth needs technology. The crypto executive pointed out that around 95% of financial wealth is not yet engaging in technology. Many analysts see blockchain technology revolutionizing the financial sector. Morehead said that the financial wealth industry is at the early stages of a “massive transformation.” “95% of financial wealth has not addressed blockchain. They are just beginning this massive transformation now. When they do, Bitcoin might be at something like $740,000/BTC,” he noted. Morehead said Bitcoin could reach a $15 trillion market cap as early as April 2028. However, he cautioned that hitting this market cap level might take a few years more than April 2028, citing the price trend’s unpredictability as the main driver of Bitcoin’s valuation trajectory. As of writing, Bitcoin is being traded at $93,785 per coin with a total market capitalization of $1.8 trillion. Bitcoin: Historical Growth Morehead said that historically, there are three orders of magnitude in BTC’s price surge, pointing out that another price growth is possible. He noted that Bitcoin and other cryptocurrencies are compelling investments because digital assets have high potential returns relative to their risk profile. “The expected value of the trade is the most compelling I have seen in almost 40 years of doing this,” he added. Related Reading: Crypto Bloodbath: Over $500 Million Liquidated As BTC Slides To $92K – Report Current Market Condition In the past few days, analysts noted that Bitcoin price decreased by 1.23% to $91,000 while its trading volume increased by 12% to $91 billion. On the other hand, BTC’s total market capitalization slightly went down to $1.8 trillion. Further, the market liquidations of Bitcoin and small market cap coins were pegged at $112 million and $81 million, respectively. Featured image from DALL-E, chart from TradingView
Crypto analyst Trader Tardigrade has drawn the community’s attention to the fact that the Bitcoin price is mirroring 2023 movements. The analyst further provided insights into what this means for the flagship crypto. Bitcoin Price Mirroring 2023 Movements In an X post, Trader Tardigrade said that the Bitcoin price stays on track with the 2023 moves. He further remarked that the flagship crypto has just completed the pullback. With the pullback complete, the crypto analyst asserted there will be a surge above 100,000, followed by a consolidation around that level. Interestingly, Trader Tardigrade also predicted that the Bitcoin price would reach $200,000 in early 2025. The analyst’s accompanying chart showed that this price rally to this target will happen by March 2025. This parabolic rally to $200,000 is expected to mirror a similar rally that BTC enjoyed from early December that year as it rose to the previous all-time high (ATH) of $73,000 in March earlier this year. Meanwhile, it is worth mentioning that Trader Tardigrade isn’t the only one who has predicted that the Bitcoin price can reach this level in this market cycle. Bernstein analysts also previously predicted that the BTC price would reach $200,000 by year-end 2025, although they claimed that was a ‘conservative’ target. Geoffrey Kendrick, Standard Chartered’s Head of Research, also predicted that Bitcoin could reach this price target and gave a similar timeline as Bernstein analysts. However, crypto analyst Tony Severino is skeptical that the Bitcoin price could reach $200,000 in this bull cycle. Instead, he has made a more conservative prediction, stating that the flagship crypto would likely peak somewhere in the $160,000 range. The analyst noted this was a more feasible target, considering that the golden ratio is in this range. BTC Is “Far Away” From A Market Top In an X post, crypto analyst Ali Martinez asserted that the BTC price is still “far away” from a market top. He made this statement while highlighting the market value to realized value (MVRV) indicator, which shows whether the asset is overvalued or undervalued. The chart showed that Bitcoin has yet to reach its true value. Related Reading: Bitcoin Price Crash Not Over? Why A Decline To $89,000 Is Possible The Bitcoin price is currently facing a significant price correction, having been pumping nonstop since Donald Trump’s victory. However, Martinez suggested this might be a great time to buy this dip. According to him, the TD Sequential presents a buy signal on the Bitcoin hourly chart, while a bullish divergence forms against the Relative Strength Index (RSI). He added that this could help Bitcoin rebound to between $95,000 and $96,000. At the time of writing, the Bitcoin price is trading at around $93,400, down in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
From its peak of $99,531 on November 23rd, Bitcoin, the world’s leading digital asset, is now trading at the $92k to $93k level, prompting many to speculate that its historic price run has ended. However, for CryptoQuant CEO Ki Young Ju, the alpha coin’s current price action isn’t a cause for concern. Related Reading: Justin […]
As Bitcoin (BTC) prices faced a correction on Tuesday, Dan Morehead, founder and managing partner of Pantera Capital, expressed optimism about the cryptocurrency’s future. In a recent interview, he suggested that the current market challenges could be temporary and that the rally might not be over. Bullish Future For Bitcoin Amid Regulatory Shifts Reflecting on Pantera Capital’s journey since launching its Bitcoin fund 11 years ago, Morehead acknowledged the skepticism they faced in 2013. “People totally thought we were crazy in 2013,” he stated, emphasizing the persistent negativity surrounding Bitcoin. The executive views this prevailing pessimism as a positive sign, reinforcing his bullish stance. “So many people are still negative. It’s far from being a bubble,” Morehead told Bloomberg. Related Reading: Bitcoin Price Alert: Expert Warns Of Upcoming 25% Drop, Timing And Trends Explained Pantera’s Bitcoin fund has yielded a substantial lifetime return of 132,118% since its inception in July 2013, when Bitcoin was valued at just $74. Morehead predicts that Bitcoin could eventually reach $740,000, attributing this potential growth to a changing regulatory landscape. Morehead highlighted the shift from “15-year regulatory headwinds to tailwinds,” particularly citing the more crypto-friendly policies expected from the administration of President-elect Donald Trump. The original Bitcoin fund launched by Pantera is notable for being the first to provide US investors with direct exposure to the cryptocurrency. Having recently traded around $91,000 after nearing $100,000 last week, the Bitcoin price has surged approximately 120% this year. Advocating For Crypto Reserves Morehead also discussed Pantera’s new venture fund, Pantera Fund V, which aims to raise $1 billion to invest in various blockchain assets, including private tokens and “special opportunities” such as locked Solana (SOL) tokens from the FTX estate. “Fortunately, we raised the big fund right before the industry-wide blowups in 2022,” Morehead remarked, noting that this timing has allowed them to deploy capital effectively over the last few years. The company’s founder pointed out that many “generalist firms” have exited the cryptocurrency space, leaving fewer competitors in the market. This environment has reportedly enabled Pantera Capital to secure “better pricing and more advantageous deals.” Related Reading: BNB Price Sets Up for a Comeback: Bulls Eye Higher Levels Morehead, who has a background as a trader at Goldman Sachs, also commented on Trump’s proposal for a US Bitcoin stockpile. He described the idea as “rational,” arguing that holding gold as a reserve is an “outdated method” of storing wealth. “If they put some of that money in Bitcoin, that is a fantastic way to have a reserve currency holding,” he concluded. At the time of writing, the leading crypto has regained the $93,000 level, while recording a 1.5% decline in the 24-hour timeframe. Featured image from DALL-E, chart from TradingView.com
Bitcoin price is correcting gains below the $95,000 support. BTC traded close to the $90,000 level and is currently consolidating near $92,500. Bitcoin started a downside correction below the $95,000 zone. The price is trading below $94,500 and the 100 hourly Simple moving average. There is a connecting bearish trend line forming with resistance at $93,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another increase if it clears the $93,500 resistance zone. Bitcoin Price Corrects Gains Bitcoin price struggled to extend gains and started a downside correction below the $97,500 level. BTC dipped below the $96,000 and $95,000 levels. It even dipped below $92,000. A low was formed at $90,736 and the price is now rising. There was a move above the $91,800 resistance level. The price cleared the 23.6% Fib retracement level of the downward move from the $98,880 swing high to the $90,736 low. Bitcoin price is now trading below $95,000 and the 100 hourly Simple moving average. On the upside, the price could face resistance near the $93,500 level. There is also a connecting bearish trend line forming with resistance at $93,500 on the hourly chart of the BTC/USD pair. The first key resistance is near the $94,800 level. It is close to the 50% Fib retracement level of the downward move from the $98,880 swing high to the $90,736 low. A clear move above the $94,800 resistance might send the price higher. The next key resistance could be $95,750. A close above the $95,750 resistance might initiate more gains. In the stated case, the price could rise and test the $97,500 resistance level. Any more gains might send the price toward the $98,000 level. Another Drop In BTC? If Bitcoin fails to rise above the $93,500 resistance zone, it could start another downside correction. Immediate support on the downside is near the $91,800 level. The first major support is near the $90,500 level. The next support is now near the $90,000 zone. Any more losses might send the price toward the $88,000 support in the near term. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $91,800, followed by $90,500. Major Resistance Levels – $93,500, and $94,750.
As Bitcoin’s price continues to fluctuate, several important metrics might be essential in determining the digital asset’s next direction so that crypto enthusiasts and investors can position themselves for notable market shifts in the upcoming days. On-chain Data Reveals Bitcoin’s Momentum Under Threat Kyle Doops, a technical analyst and host of the Crypto Banter show, […]
In a step toward integrating crypto into the country’s financial framework, Brazilian federal deputy Eros Biondini introduced a bill to create a national Bitcoin reserve. Brazil’s Proposed Bitcoin Reserve Bill Filed on Monday, the legislation proposes the establishment of the Sovereign Strategic Bitcoin Reserve (RESBit), which is designed to diversify the financial assets of Brazil’s […]
Bitcoin‘s recent upward momentum appears to be losing steam as the digital asset has shifted toward bearish territory, sparking speculations about upcoming price corrections. However, considering several factors and trends, these much-anticipated price pullbacks for BTC might be short-lived. Bitcoin Likely To Recover Swiftly From Any Correction Delving into Bitcoin’s price dynamics and developments, Santiment, […]
The Bitcoin price recently closed above the median in a bull channel, providing a bullish outlook for the flagship crypto. In line with this, crypto analyst Tony Severino provided insights into what could come next for Bitcoin. What Next For Price After Close Above Bull Channel In an X post, Tony Severino mentioned that the Bitcoin price is now retesting the median in the bull channel, with an evening star pattern forming on the chart, which hints at a potential reversal. He noted that Bitcoin is fighting to stay above the $96,000 range, which could invalidate this sell signal. Related Reading: Over $500 Million Wiped Out From The Market As Bitcoin Price Fluctuates Heavily However, if Bitcoin closes below this median range, Tony Severino warns that the price could record a significant downtrend to the $90,000 range. If this median range holds, the crypto analyst expects Bitcoin to break into the upper channel above the $100,000 level. Tony Severino revealed that the target for this uptrend channel is $267,000. However, he doesn’t think the Bitcoin price will reach that level in this bull run. Instead, the crypto analyst predicts that Bitcoin could peak between $160,000 and $190,000, although Severino is more confident about the former being the market top. The crypto analyst added that the golden ratio is in the $160,000 range, which makes this target more feasible. He also raised the possibility of the Bitcoin price eventually rallying to $169,000 as it peaks in this range. Amid this analysis, it is worth mentioning that Bitcoin is currently at risk of dropping to this $90,000, having failed to hold the median at the $96,000 range. The $94,000 Range Is Another Level To Watch Crypto analyst CrediBULL Crypto recently suggested that the $94,000 range is another level to watch for the Bitcoin price. According to him, this is the key level that matters. He claimed that BTC is bullish on all timeframes as long as the flagship crypto stays above this level. However, if Bitcoin loses this level, it could lead to a significant downtrend. Related Reading: Long-Term Bitcoin Holders Remain Greedy Amid Price Break Toward $100,000, Why This Is Good CrediBULL Crypto stated that a break below $94,000 will indicate a momentum shift and a potential larger correction that could cause Bitcoin price to drop to the low $80,000 range. The positive is that investors still look heavily bullish on Bitcoin’s trajectory despite a potential price correction on the horizon. In an X post, crypto analyst Ali Martinez mentioned that investors are buying the dip. This came as he revealed that the percentage of all traders with long Bitcoin positions has increased from 45.36% to 55.93%. At the time of writing, the Bitcoin price is trading at around $94,800, down over 3% in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
Bitcoin (BTC) stands firm at $93,257, a crucial support level that could determine its next major move. As the battle between bulls and bears intensifies, the stakes are high: a successful defense could spark renewed momentum, while a break below might trigger significant losses. As the market navigates this pivotal moment, this article aims to analyze BTC’s current position at the critical $93,257 support level, exploring the factors influencing its price movement. By examining key technical indicators and market dynamics, the goal is to assess whether the bulls can defend this level and potentially drive a rebound or if a break below could cause deeper losses. Analyzing The Recent Price Action Of Bitcoin Bitcoin is facing a bearish trend, attempting to break below the $93,257 support level. If this continues, BTC could test the 100-day SMA on the 4-hour chart, which could act as support or signal further weakness. A failure to hold above this level might lead to a deeper correction and possibly more notable losses toward lower support zones. The 4-hour Relative Strength Index (RSI) analysis shows that BTC may continue its decline, as the RSI has dropped to 35%, indicating increasing selling pressure. A reading below 50% suggests a weakening bullish trend and raises the likelihood of more declines. If the RSI continues to dip, it could signal that Bitcoin is entering a prolonged bearish phase. Related Reading: Bitcoin Rally Pauses Before $100K—Here’s What Could Happen Next Despite trading above the key 100-day SMA, Bitcoin is showing strong negative momentum on the daily chart, highlighted by bearish candlesticks and increasing selling pressure. This suggests that the crypto asset is struggling to sustain its upward strength, and if the downtrend continues, it may lead to large corrections and test lower support levels. Lastly, the RSI on the daily chart has dropped to 63% from the overbought zone, signaling a shift in market sentiment. This implies that buying pressure is easing, and the bullish momentum may be weakening. A move away from the overbought area could signal the start of a consolidation phase or the onset of a corrective pullback. Potential Scenarios: Rebound Or Breakdown? As Bitcoin tests key support levels, a rebound or a breakdown is expected. Thus, if the bulls manage to defend critical levels like $93,257, BTC witness a rebound, gaining upside strength and targeting its previous high of $99,575. Furthermore, a break above this level may pave the way for the digital asset to set new highs, extending the bullish trend. Related Reading: Analyst Sounds Bearish Alarm For Bitcoin As $100,000 Presents Psychological Resistance However, if selling pressure intensifies and BTC successfully breaks below the $93,257 mark, it could drop through key support zones, potentially triggering further declines toward the $85,211 support range and beyond. Featured image from Adobe Stock, chart from Tradingview.com
The Bitcoin price could crash if it fails to hold key resistance levels. A crypto analyst has revealed that a decline to $89,000 was well within possibility, as sell-offs below the $100,000 mark have continued to hinder Bitcoin’s price upward momentum. Bitcoin Price Correction To $89,000 Possible On November 26, TradingView crypto analyst Pejman Zwin shared a detailed chart representing a technical analysis of Bitcoin‘s price movements in a 1-hour time frame. The Bitcoin price chart highlighted vital resistance lines, support zones, and technical indicators suggesting an impending crash. Related Reading: Dogecoin Extends Rally – Can This Lead To A Breakout Above $0.82? At the top of the price chart is a yellow zone identified as the Potential Reversal Zone (PRZ), where Bitcoin is expected to face significant resistance as it aims for the $100,000 milestone. The chart also highlights a horizontal resistance line of around $95,904, which Bitcoin previously struggled to break. At current resistance levels between $97,000 and $98,000, Zwin has indicated that if Bitcoin can successfully push above these thresholds, its price could rise significantly towards $100,000. On the other hand, Bitcoin could experience a massive price decline if it fails to reach the resistance levels mentioned above. The analyst’s price chart showcases green zones representing critical support cones where Bitcoin could bounce back if its price corrects. If Bitcoin drops below support levels between $95,600 and $92,000 and breaks the lower line of the ascending channel on its chart, Zwin has forecasted that its price could crash as low as $89,000 this bull cycle. The analyst describes this crash point as the “cumulative long liquidation leverage, where Bitcoin could see its price correcting between $91,000 and $89,000, representing an 8% to 10% crash for the pioneer cryptocurrency. Key Factors Pushing The BTC Price Upwards On the flip side, Zwin disclosed in his Bitcoin analysis report that the cryptocurrency is pumping again, driven by a wave of positive market sentiment sparked by recent developments in the crypto space that have been headlines. The analyst revealed that the news of the Chinese Court affirming the legality of Bitcoin and crypto ownership has been a key catalyst behind the sharp rise in the price of BTC. Related Reading: ETH/BTC’s 8-Year Cycle Chart Shows How High Ethereum Price Can Go This Cycle Additionally, Donald Trump‘s plans to appoint a White House crypto advisor have provided a significant boost to the BTC price, propelling it to current levels and enabling it to break through important resistance lines. Based on the above chart, Zwin reveals that Bitcoin has entered five new impulsive waves from the Elliott wave theory. This bullish development occurred after the cryptocurrency broke past key resistance lines. Moreover, Zwin’s Bitcoin price chart showcases a “Bump and Run Top Pattern,” with the cryptocurrency already completing the “Bump phase” and entering a “Run phase.” Taking this into consideration, the analyst has predicted that if Bitcoin can surge above $98,700, investors and market watchers should expect it to skyrocket to $100,000. Featured image created with Dall.E, chart from Tradingview.com