Not Convinced New Investors are Buying Bitcoin, Top Analyst Says

While headlines about tanking bitcoin prices serve ideal opportunities for investors to enter the cryptocurrency market, one top analyst thinks the asset is lacking new buyers. Alex Saunders, the CEO & Founder of Australia-based Nugget News, offered a wave of discouraging catalysts that might have driven people out of cryptocurrencies, including a wrecked US job report. More than three million Americans filed for unemployment last week, providing first-hand information about how the Coronavirus pandemic is affecting the US economy. “A downside is [now] likely for stocks & crypto,” asserted Mr.…

Why ‘Control’ Deserves to Top Your Coronavirus Lockdown Gaming Queue

Control is on sale for the lowest price yet on PS4. Nvidia has announced GeForce Now support for Remedy Entertainment’s standout 2019 hit. The Foundation expansion launched yesterday, bringing a brand new storyline to the game. If you’ve yet to sample the delights of Remedy Entertainment’s supernatural action-adventure, Control, then there’s never been a better time. Widely considered by the gaming press as one of the best games of 2019, but sadly overlooked by many, Control has popped up in the news again for all the right reasons. Lowest Price…

BTC Will ‘Come of Age’ in Crisis, May Top All Time High

Pantera Capital Founder and CEO Dan Morehead has predicted Bitcoin will “come of age” during the 2020 financial crisis and may top its all time high price within 12 months. The San Francisco-based blockchain and cryptocurrency hedge fund founder made the comments in a March 25 letter to investors examining the fallout from the COVID-19 financial crisis. Morehead offered a grim prediction for the economy and said he believes the global economy is about to enter its first ever period of negative growth. “I now believe that the recession is…

Bitcoin Paints Two Extremely Bearish Patterns: Death Cross and Double Top

Bitcoin prices rallied Wednesday to reach an intraday top at about $6,983 but the move did not improve its bearish outlook for the rest of the month. The bitcoin-to-dollar daily chart saw the formation of two extremely bearish patterns: Death Cross and Double Top. The former appeared after bitcoin’s short-term moving average slipped below its long-term moving average. Meanwhile, the latter appeared as the price reached a peak two consecutive times with a moderate decline between them. BTC/USD forming death cross and double top on the same day | Source:…

Bitcoin Cash and SV Among Top Performers in Recent Run Up

Bitcoin Cash and Bitcoin SV are among the top performers in the recent run-up seen across the entire cryptocurrency industry. Now, these cryptocurrencies sit at a pivotal point that could decide where they are headed next. Bitcoin Cash Slices Through Resistance After peaking at a high of nearly $500, Bitcoin Cash plummeted over 70% to hit a low of $134 in mid-March. The significant sell-off appears to have been stopped by the 78.6% Fibonacci retracement level. This major level of support served as a rebound zone pushing BCH up over…

Top Analyst Explains Why Bitcoin Price is Up 78% amid Coronavirus Outbreak

Bitcoin resumed its roller-coaster rally even as the worsening Coronovirus pandemic discouraged investors from holding risky assets. The benchmark cryptocurrency jumped 29.11 percent in the last 24 hours, hitting a new weekly high of $6,900 on Coinbase. The move uphill came after last week’s erratic sell-off that crashed bitcoin from $7,969 to as low as $3,858. Nevertheless, a renewed buying interest near the session lows helped the price rebound, eventually taking it up by 78 percent by this Friday. BTC/USD jumps buy up to 78 percent | Source: TradingView.com But…

Bitcoin Risks Tanking to 13-Month Low Even as Top Analysts Remain Bullish

Bitcoin prices remain vulnerable to more dives even as top analysts print a rosy picture for the cryptocurrency. The bitcoin-to-dollar exchange rate appears trapped inside a technical range, dubbed as Symmetrical Triangle, since March 12. The pair is oscillating between two converging trendlines as it marches towards the Triangle’s apex. The pattern shows a weak buying demand near the Resistance and a similarly low selling pressure near the Support. BTC/USD stuck in Triangle’s range | Source: TradingView.com Bitcoin’s hourly momentum indicator flashes a similar buying/selling sentiment. The cryptocurrency’s recent higher…

Bitcoin Is Forming a Double Top At $6,000, And Now At Risk Of a Big Drop

Bitcoin is likely forming a double top pattern near the $6,000 resistance against the US Dollar. BTC price remains at a risk of a sharp decline below $5,000 if it fails to recover above $6,000. Bitcoin is showing a few bearish signs below the $6,000 and $6,200 resistance levels against the US Dollar. There is likely a double top pattern forming near the $6,000 resistance area. A key bearish trend line is forming with resistance near $5,650 on the hourly chart of the BTC/USD pair (data feed from Kraken). The…

Here’s Why Bitcoin Didn’t Bottom at $3,800 According to a Top Analyst

While Bitcoin seemingly remains in a bear trend, sentiment has spread over the past few days that the cryptocurrency market has bottomed; analysts cite the fact that BitMEX funding rates are decisively negative, suggesting an extreme bottom, along with other technical analysis-based evidence to back their lofty opinion. But according to a top analyst, there is no way Bitcoin has bottomed yet. Here’s why. Why Bitcoin Might Not Have Bottomed Yet Over the past week, Bitcoin has shown a remarkable correlation with traditional markets; when traditional markets crashed on Monday,…