Bitcoin (BTC) is currently facing a crucial resistance to breakthrough after a massive rally of 70% since the recent low in July at $28,000. This resistance is found in the psychological area between $50,000 and $51,000 and can be classified as the final hurdle before a new all-time high. This correction started when Michael Saylor revealed that MicroStrategy had purchased another $177 million worth of Bitcoin, while the company is already one of the largest holders of Bitcoins. The market hasn’t seen any correction since the recent bottom at $28,000, through which a potential correction might be on the horizon. …

Bitcoin (BTC) is wowing the market by holding $50,000, but a bullish metric is pointing to much larger potential gains. Data from TradingView now clearly shows that the weekly moving average convergence/divergence (MACD) indicator for BTC/USD has flipped from red to green. Time for another 5.5X BTC price surge? There is no shortage of bullish BTC price indicators this month, with everything from exchange balances to network fundamentals firmly in an optimistic mode. The MACD, which produced a rare crossover earlier in August, nonetheless adds the potential for upcoming gains to be an order of magnitude larger than what the …

A crossover between two Bitcoin (BTC) moving averages that appeared before the 2020 price boom is hinting at making a return in 2021, just as the flagship cryptocurrency eyes a bullish breakout from its current $30,000–$40,000 trading range. The indicators in focus are the MACD Line and Signal Line. MACD is an acronym for Moving Average Convergence Divergence, and a MACD Line represents the difference between the 12- and 26-period moving averages. Meanwhile, a Signal Line is a nine-period moving average. Plotting the MACD Line and Signal Line together forms the so-called MACD Indicator, which allows traders to predict future …

The private stablecoin market will surge parabolically in the next four years despite the existing regulatory uncertainty, Unstoppable Domains CEO Matthew Gould believes. In a Thursday interview with Business Insider, Gould predicted that the stablecoin market would hit $1 trillion by 2025 to see roughly a tenfold increase from around $115 billion at the time of writing. “We may even do it quicker than that,” the CEO noted, adding that the global stablecoin adoption will be partly driven by the growing acceptance of decentralized finance applications. “The more people with stablecoins in the pocket, the more people who can participate …

Amid the looming Ethereum London hard fork, Pantera Capital CEO Dan Morehead predicted that the upcoming upgrade would likely help Ether (ETH) outpace Bitcoin (BTC) as the largest cryptocurrency. As a newer cryptocurrency, Ether has more potential than Bitcoin, Morehead said at the Reuters Global Markets Forum on Monday, noting that the latest Ethereum Improvement Proposal (EIP) 1559 upgrade will help the digital token to trade more like a fixed asset. One of five EIPs in the Ethereum London upgrade, EIP-1559 is an anticipated update to Ethereum’s existing fee structure, introducing a minimum payment for sending Ethereum transactions and move …

A new report on the potential for blockchain identity management solutions to become integrated across sectors has forecast strong growth for its global market, at a compound annual rate of close to 71%. The report grounds its predictions on a study broken down into segments by sector — e.g., government, healthcare, banking, financial services and insurance (BFSI), geography, and applications. It was published by the Lyon-headquartered market research solution provider ReportLinker. Drawing on an analysis of several existing blockchain identity management market vendors — Accenture, Amazon, Bitfury Group, Civic Technologies and others — the report expects the total global market …

Ethereum's native asset Ether (ETH) faces prospects of closing above $14,000 sometime in 2021 based on its current trend's striking similarity with the one from last year. Ether price fractal First spotted by user TradingShot, the Ethereum fractal involves three technical indicators: a 50-day simple moving average (50-day SMA), a Fibonacci channel, and a relative strength index (RSI). Ether closed above its 50-day SMA in July 2021, the first time since the May 2021 bearish correction. As TradingShot noted, breaking above the said moving average wave historically predicts bull runs. For instance, a run-up above the 50-day SMA in April …

Bitcoin (BTC) has a better probability of recovering back to $60,000 than breaking below its current support level of $30,000 to target $20,000, believes Mike McGlone, senior commodity strategist at Bloomberg Intelligence. A screenshot from McGlone's latest analysis on the flagship cryptocurrency, first shared by Bloomberg senior ETF analyst Eric Balchunas, shows him comparing Bitcoin's ongoing price action with the "too-cold" period of the 2018–2019 trading session. In detail, the BTC/USD exchange rate entered a prolonged consolidation period near $4,000 following an 80%-plus crash in 2018, but a sudden run-up in 2019 sent its prices to as high as $14,000 …

Bitcoin (BTC) prices broke below a long-standing support wave that was instrumental in keeping its strong bullish bias intact after March 2020's crypto market crash. Dubbed the 50-week simple moving average, or 50-week SMA, the wave represents the average price traders have paid for Bitcoin over the past 50 weeks. Over the years, and in 2020, its invalidation as price floor has contributed to pushing the Bitcoin market into severe bearish cycles. For instance, the 50-week SMA acted as support during the 2018 bear market. The wave helped prevent Bitcoin from undergoing deeper downtrends — between February 2018 and May …

Bitcoin (BTC), the largest cryptocurrency by market capitalization, has already started losing its market dominance to Ether (ETH), according to Celsius Network CEO Alex Mashinsky. In a Monday interview with Kitco News, Mashinsky argued that the Ether “flippening,” or the hypothetical scenario in which Ether overtakes Bitcoin as the world’s most valued cryptocurrency, is already happening right now. Mashinsky said that the flippening has already happened on Celsius. “We manage about $17 billion in deposits, or in customer coins, and the number one coin held in dollar terms is Ethereum,” he said. Mashinsky also predicted that Ether will have completely …

Bitcoin (BTC) closed its third red monthly candle in a row this week as a popular analyst likened BTC price action to January 2019. In a tweet on Thursday, PlanB said that BTC/USD is now the furthest away from his stock-to-flow model’s estimates in over two years. Stock-to-flow “make or break” After May’s huge capitulation event, Bitcoin price action has failed to regain lost ground, staying around 50% below recent all-time highs. As a result, price models are getting a serious test — even as on-chain indicators are beginning to flash bullish again. In the case of stock-to-flow, which calls …

Twitter CEO Jack Dorsey has again rejected the idea of him buying into Ether (ETH) despite the social media platform’s activities with Ethereum-based nonfungible tokens (NFT). On Wednesday, the social media platform announced a giveaway through Rarible, a major NFT platform utilizing the Ethereum blockchain network for minting digital collectible tokens. But despite Twitter releasing 140 NFTs on Ethereum — the foundation for the second most-valued cryptocurrency after Bitcoin (BTC) — Dorsey apparently remains loyal exclusively to Bitcoin. Following the NFT news, Twitter user Packanimal suggested that it was “only a matter of time before” Dorsey invested in Ether, to …