Key Bitcoin Price Indicator Suggests $21,000 ‘Fair Value’ By End Of 2019

The bitcoin (BTC) price is unlikely to break $40,000 in 2019, Bitcoin Knowledge podcast host Trace Mayer declared as part of new analysis on June 24. Uploading fresh readings from his price forecasting tool, the ‘Mayer Multiple,’ the serial commentator and bitcoin proponent said that current trajectory should favor an end-of-year bitcoin price of $21,000. This, while below the estimates of other industry figures such as Fundstrat’s Tom Lee, still places the largest cryptocurrency ahead of its record high set in December 2017. The Mayer Multiple is a calculation achieved…

Crypto Market Holding Key Support: Bitcoin Cash, EOS, TRX, ADA Analysis

The total crypto market cap surged higher and tested the $325.0B level before correcting lower. Bitcoin price spiked above the $11,000 resistance level and it is currently consolidating gains. EOS price is back below the $7.200 level and it might test the $7.050 or $7.000 support. BCH price rallied significantly in the past few days and it is currently trading near $475. Tron (TRX) price broke the key $0.0350 resistance and it is currently near $0.0370. Cardano (ADA) price is slowly climbing higher towards the key $0.1000 resistance area. The…

Ripple (XRP) Price Analysis: Recovery Facing Key Hurdles

Ripple price started a major downside correction after a strong rally above $0.4600 against the US dollar. The price tested the $0.4175 support area and it is currently recovering above $0.4300. There is a rising channel forming with support near $0.4300 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair is likely to face a strong resistance near the $0.4400 and $0.4450 levels in the near term. Ripple price is currently moving higher against the US Dollar, but consolidating vs bitcoin. XRP could gain momentum…

Ripple (XRP) Price Approaching Key Supports: Can Bulls Regain Strength?

Ripple price started a downside correction after rallying towards $0.4630 against the US dollar. The price declined sharply and broke the $0.4400 and $0.4300 support levels. This week’s followed bullish trend line was breached with support near $0.4365 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair is currently holding the $0.4200 support level and is trading near a key resistance area. Ripple price is currently struggling to hold gains against the US Dollar and bitcoin. XRP is likely to climb higher again as long…

Ethereum (ETH) Price In Corrective Decrease: $260 Support Holds Key

ETH price started a downside correction after it failed to clear $275 against the US Dollar. The price declined below the $265 support level, but it is holding the $260 and $262 supports. Recently, there was a break above a declining channel with resistance at $264 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to climb higher again as long as it is trading above the $260 support area. Ethereum price is showing signs of a correction versus the US Dollar, and remains bearish…

Ethereum (ETH) Price Testing Key Support: $250 Holds The Key

ETH price started a downside correction after trading towards the $265 level against the US Dollar. The price declined below the $255 level, but the $250 support area is acting as a support. There is a key bullish trend line forming with support near $253 on the hourly chart of ETH/USD (data feed via Kraken). The pair must stay above the $250 pivot level to start a fresh increase in the near term. Ethereum price corrected lower below $260 and $255 versus the US Dollar, but it was stable vs…

Google Trends Bitcoin Searches, a Key Price Indicator, Turn Mega Bullish

By CCN Markets: On June 7, Coin Street News (@CoinStreetNews) shared a chart on Twitter that could have serious implications on bitcoin’s price action. The account specializes in technical analysis of cryptocurrencies and other assets. They posted a Google Trends chart and revealed that “there are more people searching ‘bitcoin’ now than during the 2013 bubble.” The tweet also noted that the year-over-year data for the search term “bitcoin” has gone up for the first time in the past year. Coin Street News noted the significant rise in the search…

If Bitcoin Hits This Key Level, It’s Going to Make a Run for $40K: Tom Lee

By CCN Markets: The bitcoin price might have slipped below $8,000 for now, but it could be headed much higher in the near future. Fundstrat Global Advisors Co-Founder Thomas Lee is willing to put it on the line for bitcoin once again, making an aggressive short-term prediction on where the cryptocurrency could be trading if it can capture enough momentum. In an interview with Binance CFO Wei Zhou, Lee laid out his bullish case. Lee and Zhou agree that once bitcoin regains the $10,000 level, it will be “fast and…

Bitcoin (BTC) Price At Risk Of Additional Weakness: $8,000 Holds Key

Bitcoin price started a major downward move below the $8,200 and $8,000 supports against the US Dollar. The price even broke the key $7,600 support level and it is currently recovering higher. There are two major bearish trend lines forming with resistance near $7,950 and $8,200 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely to struggle near the $8,000 and $8,200 resistance levels in the near term. Bitcoin price is facing an increase in selling pressure against the US Dollar. BTC might…

Bitcoin Bulls Rage in Key Indicator Despite $11 Billion Crypto Flush

By CCN: In an overnight pullback, the bitcoin price has dropped by around 2.3 percent from $8,700 to $8,500, leaving major crypto assets such as Ethereum, Bitcoin Cash, XRP, and EOS with 3 to 8 percent losses against the U.S. dollar. The bitcoin price has been on a downward trend for nearly a week (source: coinmarketcap.com) As the bitcoin price endured a minor correction, the valuation of the crypto market has dropped by nearly $11 billion from $279 billion to $268 billion. Still, despite the short-term correction of bitcoin and…