Tag Archives: Bitcoin Value

Many have been bearish on bitcoin after the dominant cryptocurrency breached support of $9,000 in September. The month-long consolidation around $8,000 is not helping either. It is only giving bitcoin haters more reason to scream their bearish outlook. Peter Schiff forecasting bitcoin to plummet to $2,000. | Source: TwitterBitcoin’s technicals may not be pretty but global macro factors favor the king of cryptocurrencies. That’s according to trader and game liquidity theorist Majin. The...

Bitcoin’s status as an uncorrelated asset is about to be revoked, as a scarily close relationship to the price of avocados implies that the digital currency may be about to fall off a cliff. The Bitcoin-Avocado Connection Bitcoin’s performance of late has left a little to be desired, and strangely so has the price of avocados. This relationship was pointed out in a profoundly insightful tweet by Bloomberg’s financial Journalist, Tracy Alloway. A graph depicting the price of Hass avocados...

The global dollar shortage is a looming crisis that doesn’t get much media attention. Instead, we keep hearing about the trade war and the seesawing stock market but almost nobody talks about the biggest problem that overshadows them all. There’s a shortage of dollars in the global financial system. China, one of the countries that sorely needs dollars, has been boosting its gold reserves over the last ten months. According to economist Luke Gromen, the Asian giant may be planning to use...

Ripple has been deteriorating in bear territory for most of 2019 against bitcoin. The third-largest cryptocurrency is down by over 63% year-to-date. The deep dive has driven many traders to take a bearish stance on the XRP/BTC pair. A trader seeing a massive XRP dump. | Source: TwitterNevertheless, the widely-followed accounts on Crypto Twitter (CT) think otherwise. They are seeing encouraging developments in the coin that they are sharing bullish charts. XRP/BTC Looks Hungry, Says Analyst...

Bitcoin’s bounce from lows of $7,714.70 on September 30th gave bulls a solid reason to be optimistic. At that point, the number one cryptocurrency shed over 44% of its value from the 2019 top of $13,880. To some traders, this price action is not out of the ordinary. More importantly, they expect bitcoin to resume its uptrend soon. Trader Rekt Capital is unfazed by the current bitcoin pullback. | Source: TwitterUnfortunately, the bounce was short-lived and bitcoin resumed its bearish trend....

Bitcoin is down by over 40% from the 2019 high of $13,880. Any other asset plunging by 20% or more would have been in a bear market. But not the king of cryptocurrencies. Bitcoin has retraced by more than 40% in previous bull runs and many market participants are comfortable holding the cryptocurrency. Trader Mayne believes bitcoin will quickly bounce back. | Source: TwitterTo prove our point, we asked experts what are their year-end target for the top cryptocurrency. We were surprised to...

Bayern LB, one of Germany’s top banks, has published a report in strong support of bitcoin superseding gold, predicting a price of $90,000 per BTC post bitcoin’s halving in 2020. Within a report entitled, “Is bitcoin outshining gold?” the bank’s researchers delved into the stock-to-flow ratios of gold and bitcoin, specifically regarding the impact of reduced supply on asset value. The Stock-to-Flow Model A stock-to-flow (SF) ratio is an analytical method commonly used within commodities,...

Bitcoin’s fall from grace over the last few days has emboldened bears to come out of hiding. Calls for a plunge to $7,000 and below are overwhelming social media channels. It appears that in one bearish push, all the hard work that the bulls put in this year has gone out of the window. The CIO of Redacted Capital sees bitcoin dropping by another 15%. | Source: TwitterTo get a better sense of where bitcoin is headed in the near-term, we asked several experts on what they think would be the...

Peter Schiff, the chief executive of Euro Pacific Capital and Chairman of Schiff Gold, is an outspoken bitcoin hater. His animosity against the top cryptocurrency can be traced as far back as June 21, 2011. In his very own radio show, Schiff fervently expressed how bitcoin had no intrinsic value. He said, Intrinsically, the bitcoin itself has no value. It only has value as a medium of exchange so long as people are willing to accept it. The talk show host then proceeded to emphasize the...

On July 26th, CCN reported that Crypto Twitter’s (CT) biggest bull,  Majin, has turned bearish and called for a bitcoin plunge to $7,000. Two months later, the call of the liquidity game theorist is coming to pass. As of this writing, the most dominant cryptocurrency is rapidly descending to support of $7,000. Majin was right to say that demand at $8,000 is so weak that it won’t ignite a bounce. Majin predicting the breach of $8,000 months ago. | Source: TwitterNow that we’re headed to...