Bull flag breakout sets a $55,000 target for Bitcoin price

Bitcoin (BTC) price sliced through the $50,000 resistance level during the early trading hours on March 3 as bulls found their momentum and the majority of altcoins joined in on the rally as the day progressed.  Data from Cointelegraph Markets and TradingView shows that the price of Bitcoin was trading at $48,500 in the early hours on March 3 before surging 8.6% to an intraday high of $52,631. Currently, BTC price trades slightly below $51,000, and while $50,000 may have become a soft support, a daily close above the 23.6%…

Bitcoin hits $51K as short-term bull case strengthens amid weakening dollar

The U.S. dollar index (DXY) is showing signs of a short-term top as the price of Bitcoin (BTC) demonstrates signals of a short-term rally. There is a narrative that the price of Bitcoin often coincides with a drop in the value of the dollar. Since stores of value, like gold and Bitcoin are priced against the dollar, theoretically, a downtrend in the DXY would likely have a positive impact on the price of BTC. Bitcoin retakes $50,000 again As the dollar began to consolidate, Bitcoin broke above $50,000 on March…

Bitcoin price crashes below $48K, but is the bull market in danger?

Bitcoin’s (BTC) price has been grinding up nicely over the past few weeks, but the past 24 hours have seen a significant correction. BTC price dropped by over $10,000 from $58,000 to under $48,000, a correction of almost 20%. This pullback — which many anticipated as 28,000 BTC was deposited to Gemini — also caused other cryptocurrencies to fall alongside Bitcoin, resulting in Bitcoin’s market dominance rising as a result. But will history repeat and produce a dull, corrective March? Let’s analyze the charts.  Bearish divergence implying further downside to come BTC/USDT…

Icon, Ravencoin and Lisk are riding the bull wave on possible future developments

Bitcoin (BTC) created another milestone today when the price breached the $50,000 barrier. Bitcoin has now risen about 1,230% from a low of $3,803.58 on March 13 of last year to a new all-time high at $50,622 today. This rally has been led by strong institutional demand that is showing no signs of stopping. MicroStrategy meanwhile said it plans to again raise $600 million through a sale of convertible notes and the proceeds will be used to buy Bitcoin. While institutional investors continue to buy, Glassnode data suggests that long-term…

Altcoins move higher as Bitcoin bull flag points toward $50K BTC price

Growing institutional interest in Bitcoin (BTC) helped elevate the top cryptocurrency to a new record high on Feb. 9 and led to a total market cap value higher than the market cap of the Russian ruble.  Data from Cointelegraph Markets and TradingView shows Bitcoin established a new all-time high of $48,220 in the early hours on Tuesday and has since pulled back to $47,092, marking a 9.24% increase over the past 24-hours. BTC/USDT 4-hour chart. Source: TradingView According to Decentrader founder, filbfilb, today’s market action showed strong activity from the…

BlockTower Capital CIO estimates another 9–22 months of bull run for crypto

How long will crypto’s current season of prosperity last? Ari Paul, chief information officer at BlockTower Capital, thinks the bull run has at least nine more months.  In a tweet on Feb. 4, Paul said the industry is currently in the “7th inning of the crypto bull market.” He added: “This is where we get ongoing, dizzying rotation. BTC up, then when BTC takes a breather, ETH and some largecaps (and in this regime, defi bluechips), then smallcaps, rinse and repeat. Of course, throw in some 30-60% retracements for fun.”…

‘Top around $390K’ — New chart shows this Bitcoin bull run is only beginning

Bitcoin (BTC) could reach almost $400,000 this bull cycle simply by copying previous behavior, one popular analyst has said. In a tweet on Feb. 4, Yassine Elmandjra, cryptoasset analyst at asset manager ARK, revealed just how early on in its current bull run BTC/USD really is. BTC price to $400,000? Compared to 2013 and 2017, the 2020-21 cycle is barely off the start line, with a hypothetical chart suggesting that the top this time around could be as high as $390,000. “This is how bitcoin’s price would behave if the…