Crypto Analyst Expects “Escape Velocity” When Bitcoin Breaks $60K. Here’s Why

Bitcoin price is still stuck under $60,000 but unable to push any lower than $55,000. The tightening across the crypto market has been long and arduous but when $60,000 is finally broken, the crypto asset should reach what one analyst calls “escape velocity.” Here’s what the term means and what that could look like post-breakout of the key resistance level. Bitcoin Could Reach Escape Velocity After Breaking Above $60,000 Bitcoin price action has come to a critical impasse, either ready to explode to hundreds of thousands of dollars per coin,…

The major Ethereum support area is $1,800 but weaker than Bitcoin‘s — analyst

The price of Ether (ETH) is hovering near its all-time high once again, while Bitcoin (BTC) is still far from surpassing its record high at $60,805. But despite ETH demonstrating strong technical momentum and entering price discovery, on-chain analysis finds that its support is “narrower” than Bitcoin. Simply put, ETH faces a bigger risk of seeing a deeper pullback than Bitcoin in the foreseeable future, if the market turns around. USD cost of Ethereum held since November 2020. Source: Chainalysis, Phillip Gradwell Why does Ethereum have a weaker support area…

SEC likely to approve Bitcoin ETF in 1-2 years, says analyst

According to an analyst at CFRA Research, VanEck, Fidelity Investments, and Valkyrie Digital Assets may not see their Bitcoin exchange-traded funds, or ETFs, approved by U.S. regulators for up to two years. In an interview on CNBC’s ETF Edge Monday, Todd Rosenbluth, head of ETF and mutual fund research at CFRA, told host Bob Pisani that he believed the U.S. Securities and Exchange Commission, or SEC, would extend the timeline for considering the Bitcoin ETF first pitched by investment management firm VanEck in January. The SEC officially acknowledged receipt of…

Buy more Bitcoin, analyst tells institutions as $257M in BTC leaves Gemini

Institutions should start buying Bitcoin (BTC) again, leading analyst PlanB has said as one exchange sees a fresh $250-million withdrawal. In a tweet on Tuesday, PlanB argued that conditions were now right for buyers to continue accumulating BTC with confidence. PlanB: “Probably time” for Q2 buying BTC/USD had seen a lack of momentum over the weekend, culminating in a dive to near $56,000. With resistance near all-time highs of $61,700 now at its lowest since the time that level was first reached, it may now pay to be bullish. In…

Low Volatility Affirms $130,000 Bitcoin Target, Says JP Morgan Analyst

Key Takeaways JP Morgan strategists maintain that Bitcoin’s recent decline in volatility could attract more institutional buyers. Given the new fundamental developments around BTC, the investment bank reaffirmed its $130,000 target. Even though Bitcoin’s price has tripled over the past few months, a particular on-chain metric validates the bullish forecast. Share this article According to JP Morgan, a less volatile Bitcoin would open the gates for a new influx of institutional capital, setting BTC up for an upswing to $130,000.  Institutional Demand Rises, Volatility Decreases Bitcoin’s volatility has been in…

Bitcoin ‘on brink of strong breakout’ says analyst ahead of Coinbase IPO

Bitcoin (BTC) is primed for a price breakout after beating out volatility, but April may still produce a surprise sell-off. In his latest market update on April 2, filbfilb, co-founder of trading suite Decentrader, said that he now expects upside to take over on BTC/USD. BTC/USD 1-day candle chart (Bitstamp). Source: Tradingview BTC “threatening a breakout” Bitcoin has recovered from its flash crash earlier in the week and briefly hit $60,000 overnight on Friday.  With seven-day gains still at 13%, there are plenty of reasons to be bullish in the…

Bitcoin futures premium hits 30% but analyst says ‘This time it’s different’

March 30 could become a historical day that will be remembered by Bitcoin (BTC) fans for a long time. Besides marking a 17% recovery from the $50,300 bottom on March 25, PayPal officially confirmed that it will support crypto payments for U.S. customers. Moreover, CME Group announced that its Micro Bitcoin futures contracts will launch on May 3 with the contract size starting at 0.1 BTC each.  Additional bullish news came as Morning Brew, a daily business newsletter with 2.5 million subscribers, finally dropped gold and is now exhibiting Bitcoin…

When ‘alt season?’ Now, says analyst as Bitcoin dominance hits 6-month low

Bitcoin (BTC) now accounts for less than 60% of the total cryptocurrency market capitalization, heralding the arrival of “alt season 2.0.” In a tweet on March 29, analyst Filbfilb, co-founder of trading suite Decentrader, announced that conditions were finally right for a fresh altcoin surge as their total market capitalization is hitting new highs of nearly $750 billion. Altcoin market capitalization. Source: CoinMarketCap Bitcoin dominance at its lowest since October 2020 Highlighting the current BTC/USD spot price, the combined altcoin market cap in U.S. dollars and Bitcoin’s market cap dominance,…

‘Deflationary’ Eth2 could flip Bitcoin: Messari analyst

Ryan Watkins, a senior research analyst at crypto analysis firm Messari, has speculated that Ethereum could overtake Bitcoin as the largest crypto asset once its Eth2 and Proof-of-Stake overhaul is complete. Appearing on Youtube show ‘FinTech Today’ on March 18, Watkins noted that while he does not know “if or when” Ethereum will flip Bitcoin, he does believe Ether could emerge as the leading crypto asset in the future, due to Eth2, stating: “The selling point of Bitcoin over Ethereum as a store of value asset boils down its monetary…