Analysis

Wall Street analyst downplayed year-end price target in Bitcoin

Wall Street analyst downplayed year-end price target in Bitcoin

Wall Street analyst downplayed year-end price target in Bitcoin

Wall Street analyst Thomas Lee, the last conditions in the frame of $ 25,000 previously announced Bitcoin’de year-end price harshly lowered.

Wall Street’s most recognized crypto-bull has reduced the Bitcoin price target by almost half.

Thomas Lee, co-founder of Fundstrat Global Advisors, reduced the year-end target from $ 25,000 to $ 15,000.

In making these predictions, Lee takes Bitcoin’s break-even point, which is the level at which mining costs match the price. Fundstrat’s data science team had previously set $ 8,000 for Bitmain’s S9 machines at $ 8,000, but later on $ 7,000. Based on this, Lee estimates that the real value of Bitcoin will be about 2.2 times the $ 7,000 break-even point.

According to the data obtained from Binance , Bitcoin is bought and sold for $ 5,600. Most of the major crypto-currencies saw double-digit declines this week and Bitcoin fell to the lowest level of the year.

But Lee still believes that the market will improve. On Friday, he said to his customers, derinlik Even in the depths of the previous month market between 2013 and 2015, it did not act with any extension under the breakeven point. 

Lee, former chief stock strategist of JPMorgan, said, ın The fact that Bitcoin fell below a psychologically significant level of $ 6,000 led to a new wave of pessimism. However, we believe that negative oscillation in emotion is much worse than fundamental inference. 

Lee went on to say that most of these price movements were driven by Cash crypto-specific inin events, including Bitcoin Cash.

Despite all this, Lee foresees a further increase in corporate participation, with prices increasing at the end of this year. Wall Street analyst ICE, Starbucks and Microsoft-supported Bakkt and Fidelity’s entry into the market is part of creating a larger infrastructure required for institutional participation was passed.

Ripple Passes Ethereum

Ripple Passes Ethereum

 

The crypto money market is getting pretty bad lately. But even in this case, there is a crypto money that manages to save itself 

The markets rushed to second place by passing through Ripple Ethereum.

The crypto money market experienced significant declines this week. The three largest token of the market could not stay still.

Bitcoin, known as the first crypto currency in the world, has been moving in a relatively constant manner in the last months to the other crypto coins and going through the $ 6300 and $ 6300 band. Looking at the current situation, it is seen that Bitcoin maintains its first position. However, Bitcoin has fallen to as low as $ 5,400 this year. At the time of writing, Bitcoin is at US $ 5,622 and has a market volume of $ 97.7 billion.

On the other hand, the whole market is becoming red, and Ripple continues in the green with an opposite move. In fact, Ripple reached the market volume of $ 19 billion and climbed to second place, leaving Ethereum, the market volume of $ 18.5 billion. And Ripple and Ethereum won’t run for the second time. In September, the same situation was experienced between two crypto currencies.

This situation of the market was connected to the Bitcoin Cash’s hard fork by the whole crypto money world. Melks Demirörs of Coinshares said, “The stiff forks always make strange and strange moves. So people taking risks trying to get out profitable. “ He explained.

Source: Coininsider

US $ 20 trillion in US debt will inevitably lead to a massive explosion of crypto money

US $ 20 trillion in US debt will inevitably lead to a massive explosion of crypto money

The CEO of ShapeShift, the crypto-money platform, claimed that the US $ 20 trillion debt would inevitably lead to a massive explosion of crypto money.

The CEO of ShapeShift, Erik Voorhees, said the US’s growing debt to $ 21.7 trillion in November would inevitably lead to a large increase.

During the next global financial crisis, Voorhes argued that the world would realize that organizations could never pay 20 trillion dollars of debt, which would result in the deaths of nominal money. . Watch what happens to Cryptoya,crypto money expert said.

Voorhes claims that the government and the federal reserve will have to print more money to pay back the national debt, which would result in a rise in inflation and a decrease in the US dollar’s purchasing power.

BlackRock worried including major financial institutions

BlackRock , the world’s largest asset manager , is the largest financial institution in the United States, expressing concerns about the US national debt quickly.

Larry Fink, CEO of the company, said the US government is heading towards a resource issue because of the country’s growing budget deficit. Fink said the US may have to borrow $ 1 trillion at the beginning of next year.

Economics professor Nouriel Roubini also shared Fink’s ideas and stressed that the interest rate rises to a point where the US economy cannot match the growth rate.

The US dollar may suffer a substantial loss if a financial crisis is experienced by the end of 2020 due to the extremely high interest rate set by the Federal Reserve, as suggested by many economists. This situation may direct investors to value storage tools such as gold and crypto coins that are not connected to the global economy.

Reasons for the sudden drop in Bitcoin last night

Reasons for the sudden drop in Bitcoin last night

Bitcoin’s relatively stable state ended yesterday.

According to the data obtained from Bitfinex, crypto money fell to $ 5,680. Bitcoin was trading at around $ 6,400, which was in contrast to the volatile periods in most autumn seasons.

Other crypto coins other than Bitcoin performed worse. According to market capitalization, XRP, the third largest crypto money , fell 15 percent, while Ether declined by 13 percent.

According to Brian Kelly, CEO and founder of BKCM, the collapse in prices is due to the uncertainties associated with Bitcoin Cash.

Bitcoin Cash fell 18 percent ahead of the planned bifurcation today. After bifurcation, Bitcoin Cash will be divided into two different block chains as Bitcoin ABC and Bitcoin SV. As a result, two different crypto coins will emerge. Bitcoin Cash itself was also forked from Bitcoin last year due to a disagreement over the best way to scale up crypto money.

Mati Greenspan, senior market analyst for eToro, a social trading platform, said: Another contributing factor is the current decline in technology stocks that can spread to crypto money markets. Katkı

The power battle in Bitcoin Cash turns the market upside down

We had reported that Bitcoin Cash had been waiting for a major force battle for days ahead. The Bitcoin Cash community, which was divided into two camps, was preparing to be able to control Bitcoin Cash . For instance, it was revealed that Bitmain started to negotiate with some mining farms in China and deploy 90,000 mining equipment before the expected bifurcation.

On the other hand, the other group, led by Craig Wright and Calvin Ayre, has increased the mining power over the Bitcoin Cash block chain to 70% over the last few days.

Both groups are said to rent more mining power in order to take power, which is financed by Bitcoin sales. The sale of more Bitcoins means that the price will fall further. It is argued that this is one of the reasons for the hard movements seen, perhaps the most important.

In the meantime, Craig Wright addressed Bitcoin miners in a post on his personal Twitter account during harsh price movements, saying, bunu If you switch to BCH, we may need to finance it with BTC,, and hinted that they could sell huge amounts of Bitcoin. As a result, the price of the number one crypto money may drop considerably

Ethereum Technical Analysis, What is waiting for us this week?

Ethereum Technical Analysis, What is waiting for us this week?

Dear friends, the information, comments and evaluations included here are NOT within the scope of Investment Consultancy . The analysis and evaluations I made are technical studies based on education. (Date of analysis: 12.11.2018)

Ethereum started at $ 212 a week next week and tested $ 225 a week . However, the sales pressure in the market caused the closing of the week to be $ 212 again . Let’s continue by examining the technical developments during the week.

Ethereum had a nice acceleration by breaking up the falling trend L3 seen in the second chart the previous week . We see that the upward movement is continuing earlier this week. With this upward movement, price L2 (second chart) tested the falling trend. However, as a result of the sales pressure on Wednesday, the L2 trend could not be broken up. We see that the sales pressure continued on Thursday and Friday. Despite the upward movement on Saturday, the movement could not continue and the sales pressure continued its effect on Sunday. When we look at the volume side, we see relatively high bars at the beginning of the week. As a result of these developments, let us evaluate.

As a result of Ethereum’s movement this week, we see that the medium-term outlook has not changed. The price continues in the medium term, which still continues with the channel L2 ($ 190) – L3 ($ 261) . There are some developments in the short-term chart. One of them is that I have tested the falling trend of L2 in the second chart . I mentioned that it was important to break up this trend in the previous week. As seen in the chart, the sales pressure in the L2 trend prevailed this week with the effect of the market. I think the price will again test the L1 trend if the market pressure continues . L1 trend support as long asThe jamming between L1-L2 will continue. The maturity of this jam is around 10-12 days according to the intersection points in the graph . In this period of time, I think that the market will be a break in the direction of the situation. If the breakdown is down, the L2 ($ 190) (first chart) horizontal support will be raised in the short term after $ 195 . In the upward trend, I think the L3 ($ 261) horizontal trend region will be targeted behind the $ 250 level .

In the ETH / BTC weekly (linear) graph, the number 4 trend has been tested twice in recent weeks. This week we have seen that the number 4 trend has been retested but could not be broken up. However, when we look at the graph on a daily basis, we see the formation of a streamer formation. I think that if this formation works, the number 4 trend will break up. If the transition to the number 4 trend is permanent and permanent, the price will be directed on the number 1 train.

Graphic Source: TradingView

Bitcoin Technical Analysis, What is waiting for us this week?

Bitcoin Technical Analysis, What is waiting for us this week?

 

Dear friends, the information, comments and evaluations included here are NOT within the scope of Investment Consultancy . The analyzes and evaluations that I have made are technical studies based on the analysis (Date of analysis: 12.11.2018)

Bitcoin started the week at $ 480 . Although the increase to $ 6620 during the week was seen, the close of the week ended at $ 6420 as the result of heavy sells . Bitcoin lost 1% on a weekly basis with this close . It can be said that this limited sale of bitcoin is more felt on the altcoin side of the pressure. Let’s continue by examining the technical events taking place during the week.

Bitcoin tested the L1 trend in the previous week and had an upside reaction from here. In the first three days of this week, we see a continuation of this reaction. This upward movement continued until A trend seen in the first chart. We see the sale raid in the A trend on the red bar on Thursday. This sales pressure moved the price back to the L1 trend. The L1trend was re-tested in the bar on Sunday and worked as a support for the L1 trend again. On the volume side, we can see that there is not a significant development, but a low course. As a result of these developments, we can make our main evaluation.

Bitcoin, 128 days of the last 154 days, $ 6000- $ 7,000banded Bitcoin’s fall in this band gap and the fact that it has been recovered at this level for five months is very important in terms of the long term. What should be considered here, in which direction will BTC be out of this band? How will the market conditions take shape in the coming period? It is not possible to say this directly. However, recent positive news from the crypto money market (Regulatory regulations, Bitcoin’s ETF expectation continued, Bakkt platform developed by Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, indicates that the market will move upwards in the coming period. . If we come to the technical view with positive news, $ 6000 -7000breaking up the band will be the first step of the upward movement. I narrow down this band and follow the range of ($ 6100) – ($ 6800) trends. I think that the closures that will take place under ($ 6100) will put the bull market in serious condition for some time. For the current situation, L1 trend should be followed as support in the short term . Since the L1 trend has been supporting for 140 days, the downward trend will increase the sales pressure. Below the L1 trend, the red-cut horizontal trends in the second chart will be considered as a support area. L1above the trend of the price (6800 $) I think that the trend. However, the continuation of the pressure of the falling trend A in this region will continue to limit the movement. There is a need for volume support to break up A trend. I expect the movement on the A trend to gain momentum.

Bitcoin moving averages graph; This week we are trying to break up the MA50, but we can not succeed. As a result, the price has changed back to below the value of MA21 and MA50. Keeping the price at these levels will cause the sales pressure to continue. However, I think the price of MA50 will be up to MA200 if the MA50 is broken up.

Graphic Source: TradingView

Bitcoin ‘s critical support 6,300’

Bitcoin ‘s critical support 6,300’

Leading crypto money Bitcoin is trading at an increasingly narrow range since June, while critical support is at $ 6,300.

Bitcoin , which has formed a triangle since June , has come to an end in this triangle. Leading crypto money continues to be traded in a fairly narrow range. This jam in Bitcoin indicates that a strong movement could come in either direction.

According to the data from Bitfinex, Bitcoin is currently changing hands at $ 6,510.

CoinDesk analyst Omkar Godbole says the $ 6,300 support for Bitcoin is critical, and the price may show a great deal of relaxation to 5.755 if the bulls fail to defend it.

Godbole states that Bitcoin will face a strong support of around $ 6,000 as the $ 6,300 withdrawal is going on and that a solid backlash from this level will end the month.

The analyst says that if Bitcoin demonstrates a convincing move above $ 6,588, it will weaken the bear position on the hourly chart.

On the other hand, some of the subcoins may be seen in Bitcoin. One of them is Bitcoin Cash. The third largest subcoin has risen from $ 448 to $ 565 since yesterday. It is claimed that Bitmain’s application for the first IPO was effective in this rise of crypto money.

Bitcoin Gold, which has risen by about 20 percent in the last 24 hours, is another notable crypto.

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