After inadvertently advertising Bitcoin (BTC) last week, United States President Donald Trump has now hinted that he expects oil to crash to just $9. In a press conference on March 31, Trump reiterated what has become a penchant for lower oil prices. Trump: $9 could “get you what you wanted” He was speaking amid talks with both Russia and Saudi Arabia, both of which plan to increase oil production this month despite the plunge in demand caused by coronavirus. WTI crude prices have lost more than 50% in the past 30 days alone. “Look, it’s $22, but it’s really much …

Bitcoin (BTC) likely reached its low when it hit $3,700 earlier this month, veteran trader Tone Vays has forecast as markets remain up 70%. In the latest episode of his Trading Bitcoin YouTube series on March 29, Vays repeated his previous claim that, logically, BTC/USD should bottom at 20% of its 2019 highs — $2,800. Vays on $2.8K: “I don’t think it’s likely anymore” This could occur before May’s block reward halving and not endanger Bitcoin’s long-term perspective, he said, but a dive after that event could have grave consequences. After March 12, when BTC/USD bounced off 15-month lows of …

Pantera Capital Founder and CEO Dan Morehead has predicted Bitcoin will “come of age” during the 2020 financial crisis and may top its all time high price within 12 months. The San Francisco-based blockchain and cryptocurrency hedge fund founder made the comments in a March 25 letter to investors examining the fallout from the COVID-19 financial crisis. Morehead offered a grim prediction for the economy and said he believes the global economy is about to enter its first ever period of negative growth. “I now believe that the recession is likely to be larger than any post-War recession,” he said …

Millennials and Generation Xers in the United States currently practicing sheltering in place and social distancing may find some solace that — in addition to saving lives — they may stand to inherit almost $70 trillion from Baby Boomers in the years to come. Kraken Intelligence, the in-house research team at the crypto exchange of the same name, released a new report entitled “Inheriting USDs & Acquiring BTCs: How ‘The Great Wealth Transfer’ Will Fuel ‘The Great Bitcoin Adoption.’” According to the report, if American Millennials were to invest at least five percent of their inherited wealth into Bitcoin (BTC), …

Bitcoin’s (BTC) road to recovery could be a long one, according to Rob Sluymer, a technical researcher at market research firm Fundstrat Global Advisors. Per Bloomberg on March 20, Sluymer wrote in a recent note that Bitcoin’s price action was severely compromised by the recent price drop. He wrote: “The crypto breakdown over the past week mirrored the ‘get me out of everything’ panic that dominated all asset classes, whether they were defensive (bonds and gold) or not (equities). [...] Lower highs and lower lows are in place for Bitcoin, leaving in a compromised, potentially vulnerable longer-term profile.” Still, Sluymer …

Chainalysis posted their report for the BTC market for March 2020. According to the blockchain and crypto analytics firm, exchanges have experienced a huge inflow of BTC since March 9, receiving nearly 319,000 of the cryptocurrency on March 13 alone. However, between March 12-13, almost nine times the average daily amount of Bitcoin was sent to exchanges to be sold, causing the price to plummet to $3,000s. This represented BTC’s biggest daily drop in the last seven years. Has the price of Bitcoin stabilized for now? Though the volume of crypto inflow remains high — twice the daily average — …

Amid some notable recovery of Bitcoin (BTC) after a number of subsequent market crashes last week, billionaire investor Tim Draper delivered another optimistic forecast about Bitcoin. In a March 16 interview with 415 Stories podcast, Draper outlined decentralization powered by Bitcoin and other new technologies as a major tool that has the “ability to transform the biggest industries in the world.” “It will be Bitcoin, not banks and governments that save the day” According to Draper, Bitcoin will be one of the most crucial tools in the times of the recovery of the ongoing global financial crisis, opposing the major …

Famous trader Peter Brandt explained why he is convinced that the impact of the block reward halving is less relevant for Bitcoin’s (BTC) price than most believe. In a March 17 tweet, Brandt explained that he considers the daily trading volume of Bitcoin to be its real supply. Because of this, he believes that the daily reduction of mined Bitcoins is equivalent to about 2/100th of 1% of the real supply. Is Peter Brandt right? Brandt concluded that the reduction of new supply due to halving is “chump change” when considered as a percentage of the real Bitcoin supply. Still, …

Bitcoin (BTC) may end up in a race with gold to hit the $1,000 mark, as one analyst identifies support below $1,400 for the precious metal. In a tweet on March 16, trader Peter Brandt warned that if nearby levels around $1,350 failed to hold, XAU/GOLD may yet fall to within an inch of three figures. Brandt: only “pie in the sky” can save BTC “There should be support for Gold prices under $1400. If price drops below $1300, then $1,050 here we come,” he wrote. Gold has copied Bitcoin in seeing precipitous falls in March, as coronavirus panic spills …

Bitcoin (BTC) likely bottomed when it hit $3,700 this week but will likely dive below $5,000 one more time, says Tone Vays. In the latest edition of his Trading Bitcoin YouTube series on March 13, the veteran trader described the week of mayhem for Bitcoin which culminated in 60% daily losses as the capitulation he’s been waiting for. Vays: “All signs point to final capitulation” Introducing the episode on Twitter, he summarized: “All Signs Point to this being the final capitulation of the 2 year Bear Market.” Traditionally conservative about Bitcoin price action, Vays sounded the alarm about potential weakness …

Bitcoin dipped below $4000 today, for the first time since the depths of crypto winter — and one veteran market analyst believes it could have even further to fall. Crypto markets have been in freefall following the announcement of travel bans yesterday between the U.S. and Europe, and ongoing volatility in all financial markets. Veteran trader Peter Brandt — who is famous for correctly predicting the market crash from the all time high — today tweeted an answer that no one wanted to hear in response to an inquiry about the new ‘bottom’ for Bitcoin due to coronavirus. Brandt said …

Bitcoin (BTC) will likely hit lower levels of up to $6,000 but will avoid bigger losses, the CEO of derivatives giant BitMEX says. In the latest edition of the exchange’s Crypto Digest on March 12, Arthur Hayes joined other trading sources warning that Bitcoin was not safe from current market turmoil. Hayes tells of “intense volatility” Hayes stated that the content of the post should not be republished or reproduced outside of its original location. On Twitter, he described it as “a look into my trader brain during this time of intense market volatility.” In the short term, Hayes thinks …