Great Time For LINK Rally, Hints Analyst As Price Rebounds 20%

The analyst who correctly predicted a major drop in the LINK price earlier this September had eased his bearish bias on the cryptocurrency. Per the pseudonymous entity, LINK/USDT is in the middle of confirming a bottom after plunging by almost 63 percent from its YTD/record top at $20. The said downside move brought the pair inside what appears to be a reliable support range. The analyst highlighted the area in his latest tweet as he made a cautious bullish prediction. LINK/USDT is looking to establish a price floor as per…

Bull Case: Analyst Explains How Uniswap’s UNI Could Surge 34%

The latest rebound in the UNI market has raised its expectations of extending its bullish move by at least 34 percent. So says a pseudonymous analyst whose recent predictions for the newly-launched decentralized finance (DeFi) token have come accurate. The chartist in his Thursday tweet adjusted UNI/USD’s upside target to $6.43. The pair was trading near $4.91 at the time of this writing. Trade setup presented by MacnBTC. Source: TradingView.com Trade setup presented by MacnBTC. Source: TradingView.com The analyst envisioned UNI/USDT to retest $4.67 as its local support, primarily because…

Profit taking Bitcoin miners won’t stop the next bull run: On-chain analyst

Historical data shows that some miners began to sell Bitcoin (BTC) at the end of July, leading to increased selling pressure in the cryptocurrency market. Eventually, the dominant cryptocurrency fell steeply from mid-August, recording a 13% fall and since then BTC has struggled to retake the $12K mark. Bitcoin selling by miners from 2017-2020. Source: CryptoQuant According to CryptoQuant CEO Ki Young Ju, continued selling by miners might not be enough to prevent a bull run. On-chain data analysis firms closely observe the movements of miners and whales because they…

ETH 2.0 Won’t Fix Ethereum’s Scalability Problems, Analyst Argues

Key Takeaways Unique addresses for DeFi are growing exponentially, crossing the 450,000 mark since the beginning of this year. Ethereum needs to scale considerably to on-board the existing crypto user base of 50 million to DeFi platforms. ETH 2.0 along with the layer-2 implementations might not be able to keep up with the growth in network usage from DeFi. Share this article The average transaction fee on Ethereum costs $7.5, three times that of Bitcoin. Setting up a wallet on MakerDAO costs over $40, while the fees to lend on…

Analyst Sees Ethereum in “Reversal Stages” as Price Dips 20%

Ethereum is on the track of registering more losses eves as it trades 196 percent higher on a year-to-date timeframe. A pseudonymous analyst highlighted a string of technical and fundamental catalysts that could push the second-largest crypto lower. He first noted that ETH/USD is repeating a market setup from the mid-2019, wherein the pair early rallied strongly but then pared a majority of its gains. ETH/USD cycle from 2019 showing its massive downside correction following a major rally. Source: TradingView.com Ethereum performed strongly in 2020, especially in the aftermath of…

Bitcoin will continue appreciating, although at a slower pace than in the past, Bloomberg analyst explains

Mike McGlone, Senior Commodity Strategist at Bloomberg, is convinced Bitcoin will continue to appreciate thanks to its fixed supply coupled with increasing demand.  “I don’t see what [could] make it stop doing what [it’s] been doing for the last 10 years. And that’s going up”, he told Cointelegraph in a recent interview.  McGlone sees Bitcoin’s capped supply as the main feature. He said that this potentially makes it a better store of value than gold, the total amount of which is unknown.  Given the fixed supply, Bitcoin is going to…

Analyst Gives 3 Reasons Why XRP Price May Fall 35%

Ripple blockchain’s native token XRP is up more than 25 percent so far into 2020. Nevertheless, the fourth-largest cryptocurrency is still looking to pare those gains, according to a string of bearish indicators brought forward by a TradingView.com analyst. The US-based chartist pitted XRP/USD against three technically bearish setups. They included a long-term Moving Average wave, a Bearish Divergence between price and momentum, and a ‘death cross.’ Together, all three suggesting an extended dive towards $0.15, a classic support level situated 35 percent below the current rate. Ripple chart shows…

Don’t expect another Bitcoin price ‘catastrophic dump’ — Analyst

Bitcoin (BTC) price trajectory is looking to favor bulls going forward, statistician Willy Woo believes as the market nears $11,000. In a series of tweets on Sept. 14, Woo highlighted strength in market composition and said that current price levels could be a useful entry point for investors. Woo: Little chance of “catastrophic” BTC price dump “Another impulse of coins changing hands has completed, the next directional move over the coming weeks is likely upwards,” he summarized. “It’s very unlikely we’ll see any kind of a catastrophic dump in price…

Here’s Why An Analyst Thinks the Ongoing Bitcoin Rally Is “The Real Deal”

Bitcoin has begun to press higher despite weakness in legacy markets. The price of the leading cryptocurrency is currently at $10,470 despite reaching lows of $9,800 earlier this week; also, altcoins have begun to surge, suggesting that this is once again a buyer’s market. BTC is moving above pivotal support levels during this slight rally. While some think this is an upward fakeout, there are signs that this may be the start of a rally that takes Bitcoin back to $11,000. Here’s why. Related Reading: CNBC’s “Mad Money” Host Jim Cramer…

This Top Macro Analyst Is Bullish on Ethereum’s Nexus Mutual (NXM)

Ethereum’s decentralized finance space has been catching a lot of attention over the past few weeks. This is for good reason: since the start of the year, the value of tokens locked in DeFi has surged in excess of 1,000%. Certain projects, too, have come under the scope of top investors. One macro analyst, Remi Tetot of Global Macro Investor and Real Vision, thinks that Nexus Mutual, an Ethereum-based decentralized mutual, is a project with strong potential. Related Reading: CNBC’s “Mad Money” Host Jim Cramer Is Finally Buying Bitcoin Remi Tetot…