Bitcoin price rally at risk as gold and US dollar show signs of recovery

Dan Tapiero, the co-founder of 10T Holdings, said weak hands have been shaken out in the gold market. This raises the probability of a gold rally in the near term, especially as it comes off of an 80-day pullback period. A rally in gold and the dollar may dampen Bitcoin price Bitcoin has seen strong momentum in the past three months, as it achieved an all-time high on Coinbase and a number of other major exchanges. Despite this, the threat of a correction for Bitcoin is a real possibility if…

Bitcoin price correction begins — Here’s how low BTC can go

The price of Bitcoin (BTC) has been seeing a massive run in recent months as it surged by almost 100% from $10,000 to $19,800. However, the all-time high region at $20,000 has been showing significant resistance, causing the price to drop several times including today as BTC has now fall below $19,000 on Dec. 4. The chances of a correction have been slowly increasing amid diminishing volume in recent days. Multiple arguments can be made for a deeper correction, which wouldn’t necessarily be bad for the market in general.  All-time…

Why Bitcoin Price Could Correct Sharply If It Breaks 100 SMA

Bitcoin price attempted an upside break above the $19,500 resistance against the US Dollar, but failed. BTC could decline sharply if there is a clear break below the 100 hourly SMA. Bitcoin is currently struggling to clear the key $19,500 resistance level. The price is likely to continue lower below $19,150 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $19,200 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely to accelerate lower if…

Bitcoin is the ‘wrong price for the possibilities it has,’ says Paul Tudor Jones

Legendary investor Paul Tudor Jones has likened Bitcoin (BTC) to precious metals and other cryptocurrencies to industrial metals in terms of use case — a clear indicator of where he thinks the market is headed over the next 20 years.  In a Thursday interview with Yahoo Finance’s Julia LaRoche, Jones outlined his vision of the digital currency market over the next several decades. “I’m not an expert on Bitcoin by any stretch,” Jones said, adding: “With a market cap of $500 billion, it’s the wrong market cap in a world…

Yearn.finance mergers and sideways Bitcoin price propel DeFi tokens higher

Yearn.finance has been busy announcing a slew of mergers in the past week and these have the DeFi space buzzing once again. Just after the Yearn and Pickle finance merger, Yearn has announced a partnership with Cream to launch Cream v2. Some of the key takeaways are that teams from both protocols will merge their development resources and Yearn vault shares can be kept as a collateral to borrow on Cream. Yield farmers might also benefit as Yearn vault strategies will have access to leverage through Cream. The collaboration has…

Bitcoin price metric that called 2020 bull runs flashes ‘buy’ again

An “elegant” Bitcoin (BTC) metric that predicted its run to $12,000 in August has flashed bullish again for the first time since July. As noted by creator Charles Edwards on Dec. 3, the Hash Ribbons indicator is now signalling for buyers to enter the Bitcoin market. Hash ribbons post rare “blue dot” Uploading an annotated chart to social media, Edwards, who is also the founder of digital asset manager Capriole, noted similarities between Bitcoin now and before previous bullish upticks this year. “Look what I found. A blue dot,” he…

Bitcoin price consolidates as traders contest the $18.2K to $19.5K range

After an impressive run to a new all-time high on Dec.1, Bitcoin (BTC) price appears to have entered a short consolidation phase as the price ranges between $18,200 and $19,500.  The 1 and 4-hour charts show the price compressing into a pennant-like structure and break out from the pattern would likely see the price move to the $19,400 level where is a bit more resistance. BTC/USDT 4-hour chart. Source: TradingView A breakthrough the pennant would also suggest that the $19,000 level could now function as solid support and if bulls…

This Economic Model Predicts a $200,000+ Bitcoin Price by 2022

Bitcoin has been on a wild ride throughout the past few days, with bulls sending the cryptocurrency rocketing up to fresh all-time highs yesterday around $19,800 before losing their strength and succumbing to bears. From here, the cryptocurrency’s price saw a vicious decline that sent it all the way down to lows of $18,200. The buying pressure here was quite intense and sparked a nearly instant rebound. It rallied as high as $19,400 this morning before facing an influx of selling pressure that slowed its ascent and caused it to…