Bitcoin Beats Other Cryptos in ‘Smarter’ Bull Market, Says Billionaire Investor

By CCN: Mike Novogratz, the billionaire CEO of Galaxy Capital and a former hedge fund manager at Fortress Investment Group, believes alternative cryptocurrencies, or altcoins, will be outperformed by bitcoin in the bull market. Not this time. Market getting smarter. $btc will outperform. — Michael Novogratz (@novogratz) May 19, 2019 The statement of Novogratz comes after the bitcoin price risen by more than 115 percent year-to-date against the U.S. dollar, leading the crypto market to add $124 billion to its valuation. Will bitcoin continue to outperform altcoins? Historically, altcoins have…

Bitcoin Awaits Big Bull Run as China Hits U.S. Back with New Tariffs

The bitcoin price surged 10 percent in the 24 hours and the sentiments are switching back to the buying side as tensions in the global markets escalate. The Chinese Finance Ministry announced Monday that it plans to raise tariffs on $60 billion worth of US imports. Beijing said they would increase duty tax on U.S. goods from 10 percent to 25 percent as it battled a similar action from Washington in the ongoing US-China trade war. I say openly to President Xi & all of my many friends in China…

Bitcoin Critics to Catch FOMO at BTC $10,000, Says Crypto Bull Tom Lee

By CCN: Bitcoin’s run higher is igniting a wave of fear-of-missing-out (FOMO) among those who gloated about the cryptocurrency’s imminent demise. Fundstrat Co-Founder Tom Lee recently took time to engage with crypto Twitter now that bitcoin’s price has rebounded considerably. Through a Twitter poll, he asked, “At what price will see FOMO from those who gloated about 90% crash in BTC?” Before he closed the voting over the weekend, nearly 8,000 people had participated. Most of them believe bitcoin hitting $10,000 again will bring naysayers to their knees, causing them…

Bitcoin Price Smashes Through $7,500 With Spectacular Return of Bull Market

By CCN: The crypto market has made a spectacular return as it added $28 billion in the past 48 hours. The bitcoin price surged past $7,400 and hit a new 2019 high, marking the start of a new bull market. In many major markets, the volume of bitcoin has returned to the late 2017 level with the “real 10” daily spot volume of bitcoin surpassing $1.9 billion. The bitcon price hit a new 2019 high after surging over $7,500 The “real 10” volume calculates the daily volume of BTC using…

Vinny Lingham Vows to Become a Raging Bull if Bitcoin Price Holds $6,200

By CCN: Not to compare Vinny Lingham to Cinderella, and he’s not about to turn into a pumpkin or anything. But one of the biggest skeptics on the bitcoin price is hours away from turning bullish as the clock ticks closer to midnight. Lingham had made himself warm and cozy in the crypto winter, so this is a 180-degree turn for him. All kidding aside, the founder of blockchain-fueled identity startup Civic has also been a realist throughout the market downturn. He was never afraid to bet against the crowd…

Weekly Bitcoin Price Indicator Prints Strongest Bull Signal Since Early 2018

A technical indicator used to identify the momentum behind asset prices is registering its highest value since the beginning of 2018 when applied to bitcoin, a possible positive sign for the cryptocurrency’s market.  The relative strength index (RSI) takes into account the speed and change in price movements, i.e. momentum, to reveal when the trend of the underlying asset is shifting from bearish to bullish market conditions and vice versa, as well as when it has become overextended. Traditionally, an RSI value above 70 is considered to be “overbought” and…

Here’s Why Bitcoin Price is Looking at an Eye-Popping Bull Run

Hackers stole $40 million worth of bitcoin from one of the largest cryptocurrency exchanges; the New York Attorney General sued a bitcoin exchange for allegedly hiding its insolvency; the Chinese government hinted that it would ban bitcoin mining operations. But none of these adverse events could stop the cryptocurrency from rising above $6,000. The BTC/USD instrument on Thursday reached its 2019 high towards $6,096, its highest in 2019. The price action helped the pair reclaim a psychological target at $6,000 which had a strong probability of deflecting the bitcoin uptrend.…

Bitcoin Price Retreats But Bull Case Intact Above $5.7K

View With prices holding above Tuesday’s low of $5,687, bitcoin remains on track for a break above $6,000. Acceptance below $5,687 would validate the bullish exhaustion signaled by a “shooting star” candle that formed Tuesday and could yield a deeper drop to the 30-day moving average (MA), currently at $5,333. The case for a deeper pullback would further strengthen if the current 3-day candle ends below $5,510. Bitcoin’s (BTC) bullish case is still intact after a pullback from 5.5-month highs, but prices must stay above key support at $5,700 to…

Buy Bitcoin Before Next Bull Run in H2 2019, Fundstrat Analyst Advises

Bitcoin’s (BTC) price may pull back soon, but investors should leverage it to buy more, Bloomberg quoted market strategy firm Fundstrat Global Advisors as saying on May 3. In a note to clients on May 2, Fundstrat analyst Robert Sluymer said that while bitcoin’s current strength marks the start of a longer-term bullish trend, the accumulation phase is not yet over. BTC/USD has climbed throughout this week to hit 2019 highs on Friday, continuing on to achieve its highest levels since November 2018’s breakdown. “Use pending pullbacks to continue accumulating…

Bearish on Bitcoin? This Fidelity Research Will Turn You Into a Raging Bull

By CCN: Fidelity Digital Assets, a subsidiary of the world’s fourth-largest asset manager with $2.46 trillion in assets under management, said in a research paper that institutional investments in bitcoin and other crypto assets are likely to increase over the next five years. The research read: “Nearly half of respondents (47%) appreciate that digital assets are an innovative technology play. 46% find digital assets’ low correlation to other assets among the most appealing characteristic. Financial advisors (74%) and family offices (80%) view the characteristics of digital assets most favorably.” We…