Despite Bitcoin (BTC) Stagnation, Economist Has High Hopes For The Crypto

Bitcoin (BTC) bears slow down
In 20-30 years Bitcoin will be money says a BoE Chief Economist

Ethereum (ETH) Price In Corrective Decrease: $260 Support Holds Key
Wednesday June 19, 2019

ETH price started a downside correction after it failed to clear $275 against the US Dollar. The price declined below the $265 support level, but it is holding the $260 and $262 supports. Recently,...

The post Ethereum (ETH) Price In Corrective Decrease: $260 Support Holds Key appeared first on 12bitplay - Bitcoin Play.

Andrew G. Haldane, the Chief Economist of the Bank of England, believes Bitcoin will be money in the next two to three decades. Presently, BTC is trending within a $30 range as bears attempt to press lower.
Bitcoin Price Analysis
Fundamental
Well, it has been a see-saw for Bitcoin and most cryptocurrencies because of their direct correlation with the king. Although some skeptics as Roubini and traditional market influencers as Kevin O’Leary of Shark Tank have their doubts, Bitcoin performance over the last decade is impressive. Designed to counter bankers and decentralize control, Bitcoin is now a global phenomenon. It is the basis of research and a blend of various disciplines, including Economics and Cryptography.
According to Andrew G. Haldane, the Chief Economist of the Bank of England, the peer-to-peer electronic cash will be money in the next two to three decades. While addressing students, an eyewitness said:
“Mr. Haldane said it [Bitcoin] could replace cash. He even joked about us likely having Bitcoin in our wallets. He said he didn’t think it’d replace cash tomorrow, but he was quite open to the idea 20 or 30 years down the line. He was also quite familiar with cryptocurrencies and joked that there were now thousands of them.”
Candlestick Arrangement

Ripple Effect: MoneyGram Stock Continues to Soar, When Will XRP Price Follow?
Thursday June 20, 2019

It wasn’t just Facebook making one of the biggest announcements and steps towards mainstream adoption in the crypto space this week. Ripple also announced a strategic partnership with international money transmission service MoneyGram that...

The post Ripple Effect: MoneyGram Stock Continues to Soar, When Will XRP Price Follow? appeared first on 12bitplay - Bitcoin Play.

Meanwhile, bears are tapering and bear momentum slowing down. Bitcoin (BTC), although up 2.1 percent at the time of press, is correcting, printing lower lows albeit in tight trade ranges. Simply because of this, our last BTC/USD trade plan is valid.
Despite yesterday’s long lower wick hinting of support in smaller time frames, the fact that prices are trending in a $60 range just above the middle BB is a hint of underlying demand. Even so, the failure of buyers to print higher and prevent liquidation as volumes shrink is an indicator of sell pressure.
Pasting a simple Fibonacci retracement tool on May high-low reveals that yesterday’s prices retested the 78.6 level. However, typical of Bitcoin corrections and even with today’s pull-back, we expect a retest of the $6,300 mark before Bitcoin snap back to the primary trend.
Technical Indicator
In general, average participation is high. By yesterday’s close, mean volumes stood at 31k against 21k of May 13th. Even so, volumes are a tad bit lower at 37k against 47k of May 13th.
Therefore, for trend continuation or nullification, any bar closing above $8,500 or $5,600 ought to be with high volumes exceeding 47k.
Chart courtesy of Trading View. Image Courtesy of Shutterstock
The post Despite Bitcoin (BTC) Stagnation, Economist Has High Hopes For The Crypto appeared first on NewsBTC.

Crypto Market Targets $300 Billion Cap: Bitcoin Cash, EOS, TRX, ADA Analysis
Monday June 17, 2019

The total crypto market cap gained momentum and broke the $260.0B resistance area. Bitcoin price broke the main $9,000 resistance area and traded close to $9,400. EOS price traded nicely above the $6.50 and...

The post Crypto Market Targets $300 Billion Cap: Bitcoin Cash, EOS, TRX, ADA Analysis appeared first on 12bitplay - Bitcoin Play.

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