Experts divided on BTC predictions: Bullish or super bullish?

Despite the current battle between Bitcoin bulls and bears around the $50,000 price mark — and an 8.7% pullback over the past 24 hours — a raft of analysts and commentators have got out their crystal balls to tip a glittering future for Bitcoin prices. On Mar. 4, Senior Commodity Strategist for Bloomberg Intelligence Mike McGlone pointed to historical data to suggest that Bitcoin is on the way to $100,000. McGlone’s logic revolves around the growing discount for shares in the Grayscale Bitcoin Trust which is at the same level…

This bullish Bitcoin options strategy lets traders speculate on BTC price with less risk

Historical data shows that it is nearly impossible to consistently predict Bitcoin’s price action and many traders that attempt this end up losing money. Now that Bitcoin trades near $50,000, the ultimate goal for most traders is to hold on to their current holdings and incrementally add to them in a way that is not terribly risky.  Options strategies provide excellent opportunities for traders who have a fixed-range target for an asset. For example, using leveraged futures contracts might be a solution for a scenario where one expects a price…

Traders remain bullish even as DeFi’s TVL falls to $54.4 billion

Decentralized finance and the numerous platforms offering investment services have been the talk of the cryptocurrency sector for several months, and this has resulted in investors capturing spectacular gains for some of the top DeFi tokens like Uniswap’s UNI and AAVE.  The fast-moving prices and 1,000% annual percentage yield on staked tokens elicited cheers from investors when the market was going up, but the recent selling pressure seen as Bitcoin’s (BTC) price dropped below $45,000 shows that the highest fliers are often the quickest to fall as traders rush to…

Dogecoin Prepares for a Bullish Impulse Towards New All-Time Highs

Key Takeaways Following a 40% correction, Dogecoin looks primed to rebound towards new all-time highs.  Trading veteran Peter Brandt suggests that DOGE is forming a bullish continuation pattern.  Transaction history shows this cryptocurrency sits underneath a formidable resistance. Share this article Dogecoin entered a consolidation period after surging by nearly 1,100% in late January. Despite these gains, one of the most prominent technical analysts in the industry believes that DOGE has room for growth. Dogecoin May Resume Uptrend Peter Brandt, CEO of Factor LLC, recently commented on Dogecoin’s price action…

Privacy coin season? DASH price gains 100% in a week as Monero, Zcash flip bullish

The strength of the cryptocurrency market is spreading appears to be spreading to privacy-focused coins. The calm price action of Bitcoin (BTC) often sets up an intense period for altcoins to rally, where several groups of coins can start becoming bullish.  One of those segments is the privacy coin segment. For example, Monero (XMR) rallied by more than 50% last week. Meanwhile, Dash (DASH) has more than doubled with a 125% gain while Zcash (ZEC) rallied by 70% during the same period. Monero breaks out of USD downtrend XMR/USD 1-week…

BTC whales buying big as retail goes bullish

The latest findings by Santiment, published in Cointelegraph Consulting’s biweekly newsletter, indicate that the total amount of BTC held by addresses with 100+ Bitcoin has seen a particularly strong uptick since the news of Tesla investing $1.5billion in BTC, growing by an additional 20,490 BTC. This brings the total amount of Bitcoin located in whale addresses to a new all-time high of just over 11.6 million, a number likely reflecting the increase in institutional participants over the recent time period. The lunar calendar ended with a flurry of news that…

Bullish $10K Ethereum call options excite traders but there’s a catch

Ether’s (ETH) $10,000 Dec. 31 call options recently came under the spotlight after surpassing $15.2 million in open interest (8,400 contracts). These instruments give the buyer the right to acquire Ether at a future date for a fixed price and the seller is obliged to honor it. For this right, the buyer pays an upfront fee (premium) to the call option seller. For this reason, call options are deemed neutral-to-bullish as they give its buyer the possibility of high leverage with a little upfront investment. This ‘right’ is currently being…

Record $6.5B futures open interest signals traders are bullish on Ethereum

Ether (ETH) price has rallied by 33% over the last five days and data shows that as this occurred some buyers began to use excessive leverage.  Although this is not necessarily negative, it should be considered a yellow flag as a higher premium on futures contracts for short periods is normal. ETH/USD 4-hour chart. Source: TradingView Although Ether’s upward movement has been going for an extended period, it was only in February that Ether finally broke the $1,500 psychological barrier and entered price discovery mode. To assess whether the market…