As Bitcoin (BTC) continues to trade sideways around $48,000, Kraken CEO Jesse Powell is not counting out a potential crash on cryptocurrency markets in the short term. A crypto winter is now “possible,” Powell said in a Dec. 14 interview with Bloomberg Technology, noting that Bitcoin and the crypto ecosystem have historically evolved around cycles based “sort of around the Bitcoin halving.” But despite a potentially looming crypto winter, Powell is confident that the market will bounce back from a bear market once investors start buying should BTC drop below $40,000: “I think a lot of people see anything under …

Ethereum's native token Ether (ETH) reached an all-time high around $4,867 earlier in November, only to plunge by nearly 20% a month later on rising profit-taking sentiment. And now, as the ETH price holds $4,000 as a key support level, risks of further selloffs are emerging in the form of multiple technical and fundamental indicators. ETH price rising wedge First, Ether appears to have been breaking out of "rising wedge," a bearish reversal pattern that emerges when the price trends upward inside a range defined by two ascending — but converging — trendlines. Simply put, as the Ether price nears …

$100,000 Bitcoin (BTC) and $2,000 gold could greet 2022 as global markets face “deflationary forces,” says Bloomberg Intelligence. In a tweet on Dec. 9, Mick McGlone, a senior commodity strategist at Bloomberg’s research arm, forecast that next year would be good for both gold and BTC. "Positive ramifications" for Bitcoin thanks to deflation As inflation makes headlines worldwide this month, Bitcoin has faced criticism over its alleged role as a hedge thanks to its 39% drawdown from all-time highs. As Cointelegraph reported, the latest U.S. Consumer Price Index (CPI) data is due Friday, with analysts presuming that inflation will have …

As 2022 draws closer, some cryptocurrency investment experts are now doubtful on whether Bitcoin (BTC) has enough time to hit $100,000 in 2021. Following a major flash crash in the cryptocurrency market, Bitcoin is unlikely to break new all-time highs in the next three weeks and go all the way up to $100,000, according to Bitwise’s chief investment officer Matt Hougan. “$100,000 by the end of the year is a difficult prediction to make [...] I think $100,000 could be in target in 2022 but this year, I’m not so sure,” Hougan said in a Dec. 6 interview. He noted …

As popular music streaming services like Spotify cut much of musicians’ revenues, new technologies like nonfungible tokens (NFTs) are likely to help artists grab back their fair share, Saxo Bank predicted. According to one of Saxo Bank’s Outrageous Predictions 2022: Revolution, music creators would benefit from NFT-based streaming platforms as they allow distributing music directly to listeners without centralized middlemen charging a fee. Saxo Bank’s cryptocurrency analyst Mads Eberhardt argued that mainstream music streaming platforms like Spotify and Apple Music take a substantial cut, which together with the cut paid to labels is some 75% or more of the total …

Bitcoin (BTC) has failed to hit the November closing price demanded by one of its best-known models — but its creator is not giving up. In a Twitter post on Dec. 1, PlanB said that he would give his floor model one more month to prove itself. BTC floor model on probation BTC/USD should have rounded out November in a "worst case scenario" of $98,000, but a combination of factors conspired to produce a much lower monthly close. At close to $57,000, the pair firmly missed its target, this translating to the first such failure of PlanB’s floor model in …

Bitcoin (BTC) will "probably" miss out on its predicted monthly close for November, analyst PlanB concedes. In a Twitter update on Nov. 25, the creator of the "worst case scenario" end-of-month price forecasts prepared to accept defeat for the first time. First ever miss "probable" for Bitcoin floor model At around $40,000 short, Bitcoin is currently far below what should have been its minimum monthly close for November. Now, PlanB acknowledges that BTC/USD hitting $98,000 in the next five days is somewhat unlikely. "Floor model $98K Nov close will probably be a first miss (after nailing Aug, Sep, Oct)," he …

Bitcoin (BTC) is still on to run to $90,000 in the coming weeks after “trapping” leverage traders. In its latest market update on Nov. 12, trading platform Decentrader underscored popular sentiment on BTC price action. Update: High timeframes "remain bullish" Despite losing $4,000 in a single day Wednesday and trending sideways since, Bitcoin is anything but bearish, many analysts argue. With short-term conditions punishing leveraged long traders but funding rates still high, however, hodlers may be in for more pain before a recovery kicks in. When it does, new all-time highs are due, Decentrader believes. “We remain bullish on high …

Bitcoin (BTC) will invalidate one of its best-known price models this cycle as $1 million becomes a focus for 2025, says well-known analyst Matthew Hyland. In a series of tweets on Nov. 9, Hyland, who has created a loyal following for his Bitcoin commentary over the years, predicted that only one of the two stock-to-flow models would survive beyond 2022. Bye bye, $288,000 stock-to-flow target? With $100,000 still a lofty yet plausible end-of-year price for 2021, attention is turning to what could lie beyond. For Hyland, new large-volume investors will play a key role in how BTC price action unfolds …

Bitcoin (BTC) could nail the now-popular $98,000 price target — but it could end up being the cycle top, new research argues. In its October 2021 Market Recap and Outlook, major U.S. exchange Kraken said that Bitcoin should reach around $96,000 if this quarter copies the last bull run. Copycat Bitcoin may top out below $100,000 With BTC price predictions reaching $300,000, new analysis from Kraken suggests that if BTC/USD were to copy its 2017 performance, this cycle's top could end up still being under $100,000. While facing calls for a "worst case scenario" November closing price of $98,000, it …

Former Goldman Sachs hedge fund manager and founder of Real Vision, Raoul Pal, believes that the social media pundits are wrong and the crypto market cycle won’t end this year. But things might get a bit hairy on the way. In a Real Vision interview on Nov. 3rd Pal predicted that the current bull run won’t end in December as it did spectacularly in 2015 and 2017, and will instead extend to some time between March and June. According to Pal, Bitcoin, Ethereum and altcoin markets are likely to “take the path of most pain”, potentially crashing twice over the …

Bitcoin's (BTC) pullback from its record high of $67,000 to below $60,000 has not deterred bulls from eyeing another peak level ahead, per an indicator that attempts to predict market bottoms and tops. Dubbed MVRV, the risk metric represents the ratio of Bitcoin's market value to its realized value — similar to the price to book (P/B) ratio that compares a company's market value to its book value. In doing so, MVRV attempts to identify whether an asset is under or overvalued. A 2017-like bullish setup An MVRV reading above 3.7 alerts about Bitcoin topping out, prompting selloffs. On the …