Bitcoin Price Catalyst Will Be S&P 500 New All-Time High, Says Tom Lee

Wall Street strategist and co-founder of Fundstrat Global Advisors Thomas Lee has argued that a strong macro outlook will provide the tailwinds for the next Bitcoin (BTC) bull run. In an interview for CNBC’s Fast Money on Sept. 13, Lee broke with the narrative that investors buy into Bitcoin to hedge macro risks — viewing the asset as a safe-haven asset or type of digital gold.  Instead, he argued that investors buy into the cryptocurrency when they feel optimistic about the wider economy, geopolitics and industry and traditional markets are…

2 Bullish Crosses Suggest a New 2019 High Is in Play

Bitcoin is back to doing Bitcoin (BTC) things and anyone who bought the dip around the $9,350 local bottom is a happy camper. Surely those who employed a little leverage on that entry are even happier.  Before looking forward, let’s take a moment to review the “Keep It Simple Stupid” approach to trading. On Sept. 2, the Moving Average Convergence Divergence (MACD) pulled off a bullish Bitcoin price crossover and the histogram flipped positive on the daily time frame.  Source: Tradingview The MACD and signal line has yet to cross…

Are VanEck ‘ETF’ and Bakkt Catalysts to Take Bitcoin to 2019 High Again?

VanEck and SolidX are reportedly selling a “limited version” of a bitcoin ETF after every BTC ETF proposal has been rejected by the SEC. | Source: Shutterstock Primarily targeting institutional investors, VanEck and SolidX are reportedly selling a “limited version” of a bitcoin exchange-traded fund (ETF) after every bitcoin ETF proposal has been rejected by the Securities and Exchange Commission (SEC) to date. According to the VanEck SolidX Bitcoin Trust 144A Shares proposal, qualified institutional buyers (QIBs) will be able to purchase publicly quoted DTC-eligible BTC security through a brokerage…

Bitcoin Rejected By High Timeframe Resistance, Here’s What To Possibly Expect

Bitcoin price is at risk of falling from the current trading range and is hanging by a thread at $9,600 after repeated attempts to hold above $10,000 failed. And while a rebound from here cannot be ruled out, Bitcoin price was rejected by high timeframe resistance dating back to the previous crypto market bull run, when Bitcoin reached $20,000 and eventually began to crash. 2017’s Bull Run Support Is Rejecting Bitcoin Price Almost Two Years Later After Bitcoin price met its all-time high price in late December 2017 at the…

New Bitcoin Network Hash Rate High Suggests Price Is Next

The Bitcoin (BTC) hash rate has broken yet another new all-time high, according to Aug. 19 data from monitoring resource Blockchain.com. The top coin’s hash rate has continued to break previous records throughout summer, today hitting an whopping 82.5 TH/s. Bitcoin network hash rate, 1-year chart. Source: blockchain.com Network Fundamentals The hash rate of a cryptocurrency — sometimes referred to as hashing or computing power — is a parameter that gives the measure of the number of calculations that a given network can perform each second. A higher hash rates…

Bitcoin Price Straddles $10K as Consensus for New 2019 High Remains

Bitcoin (BTC) price fell below $10,000 once more on Aug. 16 after climbing as high as $10,440 in early trading.  Market visualization. Source: Coin360 Mixed signals for Bitcoin price Data from Coin360 spelled out another day of uninspiring performance for Bitcoin traders Friday, with BTC/USD failing to find support at five figures. This week produced multiple $10,000 crossings for Bitcoin. Markets dipped on Thursday as low as $9,500 before rebounding. At press time, however, the price was higher, remaining above $9,900. Bitcoin 7-day price chart. Source: Coin360 Those continually higher…

BTC Is Genuine Safe Haven, Potential New All-Time High by End of 2019

Senior analyst at market strategy and sector research company Fundstrat Global Advisors Tom Lee is confident that Bitcoin (BTC) became a genuine safe haven for investors. When asked directly “whether Bitcoin is a genuine safe haven” during an interview on the Fox Business channel on Aug. 15, Lee confirmed his position: “Yes. You can see it in markets. Where there’s turmoil, the local Bitcoin prices tend to surge and trade at a premium, because people are trying to find ways to protect their money. So yes.” Bitcoin is a good…

Bitcoin Price (BTC/USD) Targets Fresh Weekly High Above $12.2K

Bitcoin price is trading nicely above the $11,650 and $11,500 supports sharply against the US Dollar. The price is likely to break the $12,000 resistance and continue higher in the coming sessions. There is a crucial contracting triangle forming with resistance near $12,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price could either rally above $12,000 and $12,200 or it might start a fresh decrease below $11,500. Bitcoin price is trading with a positive bias above $11,500 against the US Dollar. BTC price is…

Bitcoin Price Explodes Past $12,000, ‘Clear Skies’ to 2019 High

Bitcoin price shatters a new milestone amid a stock market tumble. | Source: Shutterstock The bitcoin price pierced $12,000 on Tuesday as traders seek refuge from global instability on traditional markets. As global stock markets reel from the escalating trade war between the US and China, Bitcoin has climbed more than 20% in five days, briefly hitting $12,265 on Coinbase. The move upwards was accompanied by the strongest volume in over two weeks. The bitcoin price rocketed past $12,000 on Tuesday as global instability grips the stock market. Source: TradingView…

Bitcoin Price Rises Above $12K to Hit One-Month High

View Bitcoin’s move above $12,000 is backed by an uptick in trading volumes and bullish readings on the daily chart. BTC could close well above $12,000 today, confirming a falling channel breakout on the daily chart and extend gains toward $13,200 (July 10 high) in the short-term. The 4-hour chart is reporting overbought conditions and a bearish indicator divergence. So, prices may pull back to $10,800–$10,600 and the bullish UTC close above $12,000 may be delayed till Wednesday. The bullish case would weaken if prices drop below key average support,…