Bitcoin Price Analysis: Crypto, The New Amazon– Charles Hoskinson
Bitcoin price stagnant in a $300 range
Charles Hoskinson says crypto will retest 2017 peaks in 11 years
Transactional volumes low, average 12k thus consolidation
Bitcoin Just Tapped $10,000: Is the Market Recovery Just Getting Started?
Sunday February 23, 2020
Just minutes ago, Bitcoin tested $10,000. This came after the cryptocurrency had flatlined at $9,900 for most of Sunday, seemingly trying to establish some directionality. Unfortunately, the brief surge to $10,000 failed, with the...
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According to Hoskinson, the crypto market is far from mature. In that case, he expects assets like Bitcoin to retest 2017 highs in the next 11 years. Even so, there are movements, and the failure of bears to drive prices below $3,500 is an endorsement for bulls.
Bitcoin Price Analysis
Charles Hoskinson is the founder of Cardano and the co-founder of Ethereum Classic. However, he is not shy to engage and give his two cents on important as well as contentious matters.
Though he is unfazed by stagnating prices, he is optimistic and realistic at the same time. At the moment, investors are anxious, and as they wait for prices to rally, Charles is pouring cold water on their ambitions.
In a recent interview at the Crypto Finance Conference, he said the crypto ecosystem should mature in the next 11 years. Like Amazon, a rebound will take time and patience is key. By his analysis, Charles has reasons to believe that prices will finally retest 2017 peaks in the next decade more than quadrupling its valuation. By then, there will be billions of users and crypto assets will be the hottest commodities with mega-valuation.
“It might take 11 years for us to recover in fact where we were in 2017, but we will be a dramatically different ecosystem at that point. We’ll have millions, perhaps even billions of users will be in many consumer products the easy-to-use landmark.”
Bitcoin Now in Firm Bull Territory; Here’s Why a Move to Fresh 2020 Highs is Imminent
Wednesday February 19, 2020
Bitcoin (BTC) saw some intense bull-favoring volatility this morning when the cryptocurrency rallied from $9,600 to over $10,000, with the latest upwards movement marking an ardent defense of the support that exists around $9,500....
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BTC prices are stable. By extension, this means our previous BTC/USD trade plan is valid, and bulls are technically in charge. That’s notwithstanding shrinking transaction volumes and uneventful price action. As visible from the chart, Jan 22 bull bar is confining price action within its high low.
Therefore, unless otherwise there are noticeable gains above $3,700—the upper limit of our support, we shall stick to our last trade plan retaining a neutral stance. The only trigger that will cause trade initiation is a high volume close above $3,800.
That’s around Jan 14 highs. Conversely, any drop below $3,500 shall trigger a sell-off forcing flight to safety—USDT or any other stable coin.
Overly, we are bullish, but before we trigger positions, we should see an increase in market participation. That means a sharp spike in transactional volumes from current averages of 12k. Ideally, break and close above $3,800 or ($3,500) should be accompanied by a surge in participation pushing volumes above 35k.
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XRP Positioned to See Major Downside Because of These Simple Factors
Saturday February 22, 2020
XRP’s recent price action has been lackluster to say the least, with its notable surge up to highs of $0.35 being met with significant resistance which, coupled with the bearishness seen across the aggregated...
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