On the other side, influencers, BTC maximalists and a range of other fanatical “shills” maintain its price could skyrocket to $80,000 and beyond. There is evidence to support both sides. One issue is that they may be looking at different time horizons. There’s a strong case to be made that BTC is likely to drop sharply in the months ahead but potentially rise in mid-to-late 2023. The case for a 2023 BTC price increase Bitcoin bull runs historically coincide with the four-year market cycle, which includes accumulation (buying), an uptrend, distribution (selling) and a downtrend. We would generally expect the …

Bloomberg Intelligence senior commodity strategist Mike McGlone says Bitcoin's (BTC's) relative discount to its high hash rate in October — the largest since the first quarter of 2020 — could soon see Bitcoin return to "its propensity to outperform most assets." In an Oct. 19 Twitter post, the Bloomberg analyst suggested that Bitcoin's ever increasing hash rate — a measure of the processing power and securit of a blockchain — relative to its price points to "to risk/reward leaning favorably." Many believe that in theory Bitcoin's hash rate should go up relative to its price. McGlone pointed to a graph …

Crypto market turbulence can be an immensely stressful time for customer support staff at crypto exchanges, with companies vastly bolstering headcounts just to meet demand during surges. Speaking to Cointelegraph, Alex Harper, co-founder and CEO of Australian crypto exchange SwyftX said that “no matter what your role title is [...] no one was above customer support at Swyft." He said that he, along with staff members from human resources and the CFO have had to work late into the night on occasion to assist their customer support teams when markets go crazy, explaining: “Elon Musk quotes posts about Dogecoin, you …

Hedging against downside has always been a challenge for Bitcoin BTC miners, and the current bear market is a perfect example of how energy prices and crypto market volatility can negatively impact miners’ profit margins and their ability to stay solvent. Oftentimes, institutional and retail traders use BTC-, stablecoin- and U.S. dollar-settled derivatives (options and futures contracts) to create hedging strategies that mitigate downside in Bitcoin price, and now an instrument specific to Bitcoin mining is available to miners. The Oct. 10 launch of Luxor Hashprice NDF, a non-deliverable forward contract, will allow miners to hedge their exposure to Bitcoin …

Markets briefly flashed green on Sept. 27 as equities markets bounced back from Monday’s pullback, bringing BTC price back to the long term descending trendline resistance which currently resides at $20,100. Unfortunately for bulls, the positive momentum for stocks and cryptocurrencies rapidly eroded and Bitcoin price gave up a majority of the intraday gains as it slipped back below $19,000. As has been the case since March 25, BTC price has been unable to kick above the resistance for more than a few hours and the Sept. 27 breakdown at the trendline continues the trend of successive bear flags that …

Bitcoin (BTC) has rebounded by 20% to almost $22,500 since Sep. 7. But bull trap risks are abound in the long run as Elon Musk and Cathie Wood sound an alarm over a potential deflation crisis. Cathie Wood: "Deflation in the pipeline" The Tesla CEO tweeted over the weekend that a major Federal Reserve interest rate hike could increase the possibility of deflation. In other words, Musk suggests that the demand for goods and services will fall in the United States against rising unemployment. A major Fed rate hike risks deflation — Elon Musk (@elonmusk) September 9, 2022 Rate hikes …

Ethereum's native token, Ether (ETH), looks ready to grow stronger compared to the U.S. dollar and Bitcoin (BTC) in the days leading up to its proof-of-stake transition in September. ETH price chart bullish setup The bullish outlook emerges from classic technical indicators on ETH/USD and ETH/BTC charts. For instance, ETH/USD has been forming a "falling wedge" pattern with a profit target sitting around 30% above the current prices. Meanwhile, the ETH/BTC chart is painting a potential "bull flag" that could increase the price by approximately 10% from current price levels upon resolution. Here's how these bullish setups could play out. …

Bitcoin (BTC) price may climb by more than 50% in September, a month otherwise considered ominous for the cryptocurrency due to its poor historical returns. BTC price double-bottom and then to $30K? The conflicting upside signal comes from a potential double-bottom pattern on Bitcoin's longer-timeframe charts against the U.S. dollar. Double-bottoms are bullish reversal patterns that resemble the letter "W" due to two lows and a change in direction from downside to upside. Bitcoin's decline below $20,000 in July, followed by a sharp recovery toward $25,000 and a subsequent return to the $20,000-level in August, partially confirms the double-bottom scenario. …

On August 15, Bitcoin (BTC) price and the wider market corrected while the S&P 500 and DOW looked to build on four-straight weeks of robust gains. Data from TradingView and CNBC show the Dow pushing through its 200-day moving average, a first since April 21 and perhaps a sign for bulls that the market has bottomed. While equities markets have been strikingly bullish in the face of high inflation and a steady schedule of interest rate hikes, a number of traders fear that the current 32 day uptrend in the DOW and S&P 500 could be a bear market rally. …

Bitcoin (BTC) investors in China plan to buy the dip despite an ongoing market correction and a nationwide crypto ban, a new survey shows. Consensus sees Bitcoin at $10K A survey of 2,200 people conducted on China-based social media platform Weibo found that 8% would buy Bitcoin when its price hits $18,000, according to Wu Blockchain. While 26% of the respondents prefer to wait until BTC reaches $15,000. But a majority anticipated the price to fall even further with 40%, saying they would buy BTC at $10,000. In a survey of more than 2,200 people conducted in Chinese crypto community …

The positive gains recorded in the first ten days of July have all but disappeared on July 13 as Bitcoin (BTC) and the wider market slid back toward new yearly lows. Subdued action in the market can be traced back to a variety of factors, ranging from July 13's record-high Consumer Price Index print and a raging U.S. dollar that recently hit its highest level since October 2002. Data from Cointelegraph Markets Pro and TradingView shows that July 13 marked the fifth consecutive day of a declining BTC price, which hit an intra-day low at $18,910, following the declines across …

Bitcoin (BTC) could undergo a massive price recovery in the coming months, based on an indicator that marked the 2015 and 2018 bear market bottoms. What's the Bitcoin Pi Cycle bottom indicator? Dubbed "Pi Cycle bottom," the indicator comprises a 471-day simple moving average (SMA) and a 150-period exponential moving average (EMA). Furthermore, the 471-day SMA is multiplied by 0.745; the outcome is pitted against the 150-day EMA to predict the underlying market's bottom. Notably, each time the 150-period EMA has fallen below the 471-period SMA, it has marked the end of a Bitcoin bear market. For instance, in 2015, …