Bitcoin Bulls Will Be Back In The Picture Once BTC Rally Above $9,100
BTC slides 2.1 percent
Bitcoin is a safe haven, a Satoshi now worth more than several fiat currencies.
Ripple (XRP) Undervalued, Libra Is A Wake-Up Call For Banks
Friday June 21, 2019
Ripple (XRP) adds 10.3 percent Brad Garlinghouse bullish on Bitcoin At the backdrop of Facebook and its coin Libra, XRP is steady. While volatility is low and volume shrinking, a break above 50 cents...
The post Ripple (XRP) Undervalued, Libra Is A Wake-Up Call For Banks appeared first on 12bitplay - Bitcoin Play.
Hardly surprising, a single Satoshi, the smallest unit of Bitcoin, is more valuable than several fiat currencies. Increasingly, Bitcoin is a safe refuge against inflation. As such, accompanying demand could spur demand, thrusting BTC above $9,100 towards $10,000 and beyond.
Bitcoin Price Analysis
What’s encouraging is that Bitcoin (BTC) bulls-after initial doldrums are back. It’s a relief for traders as well as optimistic investors reeling from last year’s upheavals. Nevertheless, that is not an endorsement of bulls. Just not yet. If anything-and being very conservative, there must be complementing fundamental and candlestick arrangements flashing “buy” before buyers take charge.
Meanwhile, tech companies are readying their machinery and deep pockets. Their cross-hairs are on crypto. Facebook is leading the way, while Samsung and Apple are setting the necessary infrastructure.
The entry of Facebook and their novel project, Libra, as they roll out a stablecoin pegged by a basket of fiat currencies is an existential threat. Bitcoin may end up suffering. That is because Facebook will surely leverage their broad user base, mobilizing more than two billion active users to use a stablecoin.
Meanwhile, the news is that ravaging inflation in countries as Iran and Venezuela means the smallest unit of Bitcoin, Satoshi, is worth more than a single government-issued Iranian Rial and a Vietnamese Dong.
Following a massively volatile past few days for Bitcoin and the aggregated crypto markets, BTC has now been able to slow down and find some stability around $10,700 and is forming $10,500 as a...
The smallest denomination of Bitcoin, a single satoshi, is now worth more than some national currencies.
0.00000001 BTC is worth more than the:
– Iranian Rial– Vietnamese Dong– Indonesian Rupiah
"Magic internet money" is now just "money".
— Rhythm (@Rhythmtrader) June 9, 2019
Analyst: Institutions Are Behind Bitcoin’s Recent Bullishness; Will Individuals Enter Next?
Wednesday June 19, 2019
Bitcoin and the aggregated crypto markets have been in a firm uptrend for the past several months and BTC has put a significant amount of distance between its current prices and its year-to-date lows...
The post Analyst: Institutions Are Behind Bitcoin’s Recent Bullishness; Will Individuals Enter Next? appeared first on 12bitplay - Bitcoin Play.
However, the list of near worthless fiat currencies, thanks to bad leadership and central bank printing, could be higher if BTC spikes to over $20,000.
Currently, Bitcoin (BTC) is changing hands at $7,804, dropping 2.1 percent in the last day. All the same, bears are marauding in higher time frames. At spot rates, BTC is down 4.8 percent week to date. In line with previous BTC/USD trade plan, it is crucial that prices rally and close above May 2019 high.
The level is at $9,100. Once bulls close above this mark, then traders can confidently tune entries in smaller time frames with modest targets at $10,000 and later $12,000. Meanwhile, aggressive traders can enter at spot rates with a stop limit at $7,500. $7,500 is the main support line of the $1,000 trade range where prices are oscillating in.
Optimistic, May 30th bear candlestick leads this trade plan. The bar has high trading volumes of 31k. If bulls are in control, any breakout above May high must be with an uptick in participation exceeding 31k or even 47k of May 13th.
Chart courtesy of Trading View. Image Courtesy of Shutterstock
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