The Bitcoin and Gold Advantage, Will BTC Trounce Status Quo?

Bitcoin (BTC) uptick, adds 16.7 percent
The entry of Lagarde as ECB chair is bullish for cryptocurrencies

‘Libra vs Alipay, WeChat’ Trending High on Chinese Search Engine
Thursday July 18, 2019

Since Facebook announced its new cryptocurrency “Libra,” it has faced resistance from global regulators and financial sectors. The People’s Bank of China, which in 2017 banned the use and trading of cryptocurrencies, has also...

The post ‘Libra vs Alipay, WeChat’ Trending High on Chinese Search Engine appeared first on 12bitplay - Bitcoin Play.

Gold and Bitcoin, according to leading analysts, are certified safe havens. The global economy may end up floundering. However, the entry of Christine Lagarde as the ECB chair is bullish news for cryptocurrencies like Bitcoin. Thus far, BTC is up 16.7 percent week to date.
Bitcoin Price Analysis
Fundamentals
The battle for the next generation store of value is a fierce contest between gold and Bitcoin. While the former has a well tabulated history, the latter is an emerging, scarce and community-powered asset.
It is purely digital, and unlike gold with infinite supply, BTC is all about transparency and mathematics. Participants, through a public blockchain, can determine the exact number of BTCs in circulation and even make projections of future emissions. Even so, there are skeptics.
Although both assets are making a comeback with gold breaking from a five-year trade range, surging towards the $2,000 in June 2019, BTC has more potential. However, that is not enough to convince gold supporters, with a superior market cap and liquidity, gold is undoubtedly a trusted asset backed by central banks.
In that case, Jim Rickards of Strategic Intelligence and an author of Currency Wars: The Making of the Next Global Crisis differs from BTC bulls. Saying the world’s most valuable asset is a bubble, he claims:
“It’s clearly a bubble — it looks like the second biggest bubble in history after tulip mania. Although at the rate it’s going it will pass tulip mania, you know, in a matter of days. Name your bubble. It’s bigger than all of them.”
Candlestick Arrangements

Analyst Who Predicted Bitcoin Bottom Says It Won’t Find New Lows
Wednesday July 17, 2019

Bitcoin has suffered significant losses after dropping by thousands of dollars to take its value below the $9,500 level. Market analysts believe that the criticism of Facebook’s cryptocurrency Libra by the US senators has...

The post Analyst Who Predicted Bitcoin Bottom Says It Won’t Find New Lows appeared first on 12bitplay - Bitcoin Play.

By surpassing expectations, there is an element of resilience as far as BTC is concerned. After weathering and successfully rejecting bearish attempts, BTC is literally on a roll. Snapping back to trend and adding an impressive 4.8 percent and 16.7 percent in the last day and week, buyers are back in contention.
Presently, BTC is changing hands at slightly over $12,400. Therefore, bulls are a pole position to add to their gains. Even though capped inside June 27 trade range, bulls of April through to June may flow back boosting prices. As a result, risk-off traders can buy the dips as long as prices are trending above the middle Bollinger Bands (BB).
Meanwhile, risk-averse traders can wait for conclusive breakouts above $14,000 or June 2019 high before initiating buy positions on dips. Like before, feasible bull targets are at $15,000 and $18,000. On the other hand, sharp liquidation below $9,500 and middle BB cancels this bullish outlook.
Technical Indicators
It is imperative that BTC buyers reverse June 27 losses. For comprehensive trend continuation, any surge above $14,000 confirming bulls must be with high trade volumes exceeding 82k of June 26.
Chart courtesy of Trading View. Image Courtesy of Shutterstock
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Litecoin Leads The Way: As Bitcoin Plummets, Altcoins Rise Across the Board
Wednesday July 17, 2019

The crypto market is at a critical junction. Altcoins such as Litecoin, Ethereum, and Ripple have been capitulating, then bouncing as Bitcoin begins to struggle with its return to a bull market. Since this...

The post Litecoin Leads The Way: As Bitcoin Plummets, Altcoins Rise Across the Board appeared first on 12bitplay - Bitcoin Play.

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