Bitcoin Price Forecast and Beware Bitcoin Regulation
Weekend trade returned the Bitcoin Price to the lower trendline of a channel that previously contained wave action. Price action is animated but awaits Monday trade to set direction. Today's analysis takes a long-term view to try and put expectations in perspective. Weekly Bitcoin Chart. In order to get a coherent historical picture, the combined BTC-China and Mt. Gox weekly charts provide us with the most thorough price records. Mt. Gox. Firstly, the blessed Mt. Gox weekly chart. Notice how, at inception, price spikes out in an expanding triangle formation that pivots around $0.06 before....
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I have been asked both publicly and privately to speculate as to when and where the price will bottom. Speculation of that nature is risky, because it is so very easy to get the forecast wrong. Unfortunately, the nature of the internet audience is such that even if the forecast pans out, trolls will say it was a "lucky guess," or otherwise find a reason to minimize that success. On the other hand, if the forecast proves to be mistaken, the mistake will be loudly heralded as proof positive that the analyst knows nothing at all. However, there is a place in price-time which is increasingly....
Bitcoin price is back above $55,000 in a lighting fast recovery from below the key level of $50,000. Although the rebound thus far appears as if it is a gift from the heavens above, the technical forecast suggests cloudy days are ahead. Here’s a closer look at everything going on with Bitcoin “at a glance” […]
Russia’s government has just approved a package of crypto regulation bills that make trading through regulated intermediaries the only legal route, highly limiting off retail access. An Authoritarian Crypto Restriction? On Monday, the Russian Ministry of Finance said in a press release that Moscow had greenlit a bundle of draft laws to legalize the circulation […]
Ark Invest, an American investment management firm, has recently shared a long-term forecast that envisions the Ethereum (ETH) price reaching the six-digit territory if the total crypto market capitalization surges to $25 trillion. Ark Invest also notes that Ethereum stands to be one of the biggest winners in this scenario, with XRP also set to […]
Last month, the popular bitcoin analyst and creator of the stock-to-flow price model, Plan B, explained that he believed the “bull is not over.” On August, 6, Plan B is still showing confidence in his forecast and reconfirmed his message from last month. Meanwhile, bitcoin prices have been able to bounce back and on Sunday, bitcoin prices tapped a high of $45,355. Plan B Shows Confidence in Previous Forecast While Bitcoin Prices Tap Fresh Highs Bitcoin (BTC) has been on a tear lately and oddly enough in the face of regulatory uncertainty in the United States. BTC has gained....