Connect with us

#Bitcoin Price Analysis

BTC Daily Trading Signals: 26 October



Dominant bias for Bitcoin (BTC)- Ranging

Resistance Levels- $6800, $6900, $7000

Support Levels- $6000, $5900. $5800


BTC continues in a range-bound market. Efforts by the bulls to push price a little higher after a brief returned when BTCUSD was at 6462.9 in the support area was rejected. 6568.7 at the resistance area was the point the bulls could push to before the bears stage a return as the candle closes as gravestone doji followed y an inverted hammer which reflects strong bears presence. BTCUSD was down to 6528 in the support area. This was lower than the previous day low which was $6536.It is quite obvious that the bears are determined to continue the journey down south within the range.


BTC 4-hour chart

BTC 4-hour chart


BTC had already dropped to $6522.4 after today’s opening with a strong indication of a further downward movement. Price is below the two EMAS and the stochastic oscillator at 41% and its signal pointing down. These confirm the downward movement in the price of the cryptocurrency within the range.

BTC remains in consolidation and trading between $6800 in the upper resistance area and at $6300 in the lower support area of the range. Traders are advised to be patient at this critical period for a breakout at the upper resistance area or a breakdown at the lower support area before taking a position.

#Bitcoin Price Analysis

Bitcoin Price Analysis: Will BTC Rise Again?



Bitcoin price improved more than 8% yesterday after the successful bitcoin cash hard fork completion. Bitcoin price fell down from $6500 to a whopping low of $5190 before the BCH hard fork. The price started to experience improvements after the hard fork and went above the $5770 mark but the market could not sustain the bullish momentum for a long time and fell down up to $5555. BTC is currently trading at $5615 (at the time of writing).
The bitcoin market volume has decreased and the bull run is expected not before the upcoming week. The support level of the BTC lies around $5598 and the resistance around $5622. Bitcoin price needs to break the resistance level in order to move above the desired $6000 mark.


BTCUSD 5 day chart

BTCUSD 5 day chart


BTC is currently trading at the year’s lowest price range where the traders are worried about further losses. However financial analysts believe that bitcoin price is likely to rise a little at the end of 2018 up to the start of 2019. Traders also believe that 2019 end and 2020 will be the year of a major cryptocurrency bull momentum because of the predicted financial crisis of 2020. Investors and financial analyst believe that people will be forced to move towards assets such as gold and cryptocurrencies with the predicted downfall of the US dollar.


BTCUSD 24 hour chart

BTCUSD 24 hour chart


Looking at the 24-hour chart bitcoin price fell down from $5750 up to $5555. The price is currently trying to tackle the bear attack but is experiencing hurdles. Bitcoin price may likely improve up to $5700 today but the major improvement is predicted when the volume increases, most likely next week.

Continue Reading


Can Bitcoin Hit $90,000 Within Five Years?



Recently, two analysts from ICO advisory firm, Satis Group, predicted that bitcoin prices will hit $96,000 in the next five years.

Recently, two analysts from ICO advisory firm, Satis Group, predicted that bitcoin prices will hit $96,000 in the next five years.

In making this forecast, Sherwin Dowlat, head of research, and Michael Hodapp, research analyst, leveraged fundamental analysis.

“Currently, the vast majority of the total crypto asset market capitalization is held in traditional store of value markets, with offshore deposits accounting for nearly 40% of the total,” they stated in the report.

Going forward, growth in this market capitalization will come “primarily from the increased store of value use case penetration,” the analysts claimed.

Further, they predicted that as custody solutions “come online,” the “penetration” of offshore deposits will increase “dramatically.”

The analysts forecasted that the broader digital currency market would enjoy robust growth, reaching a total value of $3.6 trillion in 2028, roughly 1,700% higher than its current value of approximately $210 billion on CoinMarketCap.


Analysts’ Mixed Views

When surveyed, analysts offered mixed responses to the report’s prediction that bitcoin prices could reach $96,000 by 2023.

Some criticized the forecast as being overly bullish, while others emphasized the difficulty of accurately forecasting what a digital currency’s price will be five years from now.

“Bitcoin’s price can be anywhere in 5 years, from $10,000 to $100,000,” stated Joe DiPasquale, CEO of cryptocurrency fund of hedge funds BitBull Capital.

“An exact prediction is hard to provide because there are numerous fundamentals that are likely to change between now and 2023.”

He added that:

“Digital currencies and assets are the future of transactions and value storage, and Bitcoin is leading this revolution. But this doesn’t make it easy to guarantee a specific price tag five years down the road.”


An ‘Ambitious’ Price Forecast 

Marouane Garcon, managing director of crypto-to-crypto derivatives platform Amulet, stated that the $96,000 price prediction “may be a bit ambitious.”

“I don’t think we’ll hit $96,000 by 2023,” he stated.


Yazan Barghuthi, CEO of Jibrel Network, also threw cold water on the forecast, stating that:

“I do believe BTC has a compelling use-case as a store of value, particularly in countries experiencing hyperinflation (Iran, Turkey, Venezuela), but to assume it will capture sizable market share from Private Banks in markets such as the US, Switzerland, Singapore, Germany, Netherlands, etc. over the next 5 years, is extremely optimistic.”


Bitcoin Bullish Predictions ‘Entirely Possible’

While the aforementioned analysts appeared skeptical, some market observers went on the record stating that bitcoin could very well hit $96,000 by 2023.

Eric Ervin, CEO of Blockforce Capital, stated that “a $100,000 per coin valuation for bitcoin is entirely possible.”

“Bitcoin’s current 112 billion dollar market cap represents just 0.1% of the entire global money supply which is currently valued at approximately 90.4 trillion dollars,” he added.

Marius Rupsys, a digital currency investor, offered a similar take on the matter.

“To reach the price of $96,000 seems achievable given past bull markets,” he stated.

Rupsys added the following:

For example, bitcoin went from less than $1,000 per coin to more than $16,000 per coin in 2017 alone. Which is more than 16x increase in 1 year. Bitcoin is trading at $6,450 today, meaning it needs to increase 15 times in the next 5 years to reach $96,000. Assuming bitcoin survives this long and volatility keeps similar levels, it should be quite realistic to do it during the next bitcoin bull run.


Digital Assets ‘Here To Stay’

Oliver Isaacs, blockchain investor, advisor & influencer, also provided bullish input on the digital currency markets.

“Digital assets are here to stay,” he said.

Isaacs emphasized that while the market capitalization of cryptocurrencies is roughly $200 billion, “the demand for money is around $200 trillion.”

“If cryptocurrencies are truly solving the problems of paper and fiat currencies which I believe, we are going to see that 200 billion start to move up to 200 trillion and that gap close (that’s a 100,000% gain).”

As a result, bitcoin prices could reach $96,000 during a “during a strong bull run leading up to the Bitcoin ‘Halving’ in 2020,” he stated.


We thank Matt Chambers for this guest post.

Continue Reading


Bitcoin Price will reach $250k by 2022: Tim Draper



Crypto fan and investor Tim Draper, who stood out as truly newsworthy over the crypto world when he obtained the Silk Road bitcoins from the US Marshals.

Bitcoin maximalist Tim Draper who earlier predicted BTC price to reach $250k by April, 2018 says BTC will reach $250,000 by 2022 during the Web Summit on 6th November.

A global and more open currency will dominate the world, says Draper, who believes Bitcoin will bring the power of money from banks to the common people.

“If we combine Bitcoin, block-chain with smart contracts and artificial intelligence, we could create the perfect bureaucracy.”

Draper says,

“Believe it, it’s going to happen – they’re going to think you’re crazy but believe it, it’s happening, it’s going to be awesome!”


Crypto Market Capitalization will reach $80 trillion in 15 years

Draper also predicted that the total market cap of cryptocurrencies will reach $80 trillion within the next 15 years.

“Cryptocurrency will go after trillion dollar markets these are finance, healthcare and insurance, banking and investment banking, and governments.”

At reporting time, Bitcoin BTC is trading at $6441 on Binance.

Check out the Top 5 Bitcoin Predictions in another article from Coinnounce.

Continue Reading

Live Crypto Prices

  • BTC
  • USD
  • AUD
  • CAD
  • EUR
  • BTC
    Bitcoin(BTC) 5618.64057528
  • ETH
    Ethereum(ETH) 176.719845493
  • BCH
    Bitcoin Cash(BCH) 385.565147491
  • EOS
    EOS(EOS) 4.582590061
  • LTC
    Litecoin(LTC) 42.2816432465
  • ADA
    Cardano(ADA) 0.0618485057
  • TRX
    TRON(TRX) 0.0188366883
  • DASH
    Dash(DASH) 132.584153504
  • XEM
    NEM(XEM) 0.0932694026