Heroes of Ukraine

«Market Leader» - news and previews making you rich.

Tuesday, 19 June 00:15 (GMT -05:00)



Foreign exchange market

Bloomberg Intelligence Predicts Bitcoin Crash Down To $900


According to some experts working for Bloomberg Intelligence, the BTC exchange rate may crash all the way down to 900 dollars per 1 Bitcoin in the near future. They say this may happen because of decreased trading volume and bearish market sentiment.
 
The thing is, the world’s first and biggest cryptocurrency grew too fast throughout 2017. Apparently, this create reasonable worries that another bubble was inflating in the global market of cryptocurrencies and it was about to burst. That’s why the market has been really sensitive about any negative information somehow related to digital currencies in general and Bitcoin in particular. This created market panic and massive sellouts. Basically, that was the key reason why the Bitcoin exchange rate crashed from the all-time high close to $20000 all the way down to $6000-7000. Even though, Bitcoin has recovered to the level close to $10000, this is still less than 505 of the highest price ever since in the market.

The experts say that the recent Bitcoin crash resembles the one seen in the U.S. stock market during the so-called dot-com boom in the late 1990s and early 2000s. In particular, one of them says that he has spent quite a lot of time studying the topic and the deeper he dives into the research, the more bearish he gets on Bitcoin and other cryptocurrencies.

In particular, Bloomberg Intelligence experts have analyzed the dynamics of Nasdaq Composite as well as the ups and downs of Amazon stock during the dot-com boom when the stock market set another all-time high and then crashed by more than 70% to make hundreds of related companies bankrupt at the same time. The current situation with Bitcoin resembles then one seen during the very dot-com era.
 
On top of that, there is another bearish factor for Bitcoin. The whole point is, due to a number of forks, the real volume of Bitcoin mining is way bigger than expected previously. At the same time, Bitcoin keeps on losing its market share. For instance, back in 2017, Bitcoin used to enjoy a market share bigger than 50%. Today, the figures have already dropped all the way down to 35%. This means that altcoins keep on winning more and more of the market share for themselves, especially as they are still growing in number. Even though Bitcoin is still the most expensive cryptocurrency out there, altcoins are getting more and more sophisticated and improved. In 2017 alone, the amount of tokens more than doubled (120%).
However, some experts contradict the bearish expectations expressed by Bloomberg Intelligence. Based on the result of technical analysis, they say that if Bitcoin breaks above the resistance are around 10128 и 10776 USD/BTC, it will get a decent chance to get back into the price channel between 14 334 and 16 304 USD/BTC.


 

 

You are free to discuss this article here:   forum for traders and investors

 

Add to blog
Got a question? – Ask it here »
 

Today’s Bitcoin Rate Signals Growing Risks in Banking Sector

Yesterday, the BTC exchange rate suddenly started growing, probably as a part of a recovery move against the existing downtrend. According to CoinMarketCap, the current BTC exchange rate is somewhere above 7500 USD/BTC. Over the last 24 hours, the world’s first cryptocurrency has gained some 5%, trying to recover from May’s downtrend (in case you don’t know, the coin has lost 20% since early May before starting to recover yesterday).

Publication date: 31 May 08:33 AM

Bitcoin Goes Down Before Another Rally?

The BTC exchange rate keeps on going down while being driven by a number of factors and circumstances. International experts say that the price of the world’s first and most popular cryptocurrency is currently going down just to gain some momentum later and skyrocket to new highs.

Publication date: 29 May 11:19 AM

Masterforex-V Analysts name Successful ICOs in May 2018

For those of you who don’t know, an Initial Coin Offering (ICO) is all about raising funds. To be more specific, startups sell their underlying crypto tokens in exchange for existing crypto currencies, mostly Bitcoin, Ethereum and other altcoins out there. This resembles an IPO in the stock market where investors buy a newly offered stock.

Publication date: 23 May 12:14 PM

Bitcoin Will Hit $20K, CoinShares Says

Bitcoin is really capable of getting back to the all-time high at $20K per coin. This is what founder of Coinshares Danny Masters thinks on the matter. He is not a rookie in this business. His company has been creating investment products for the cryptocurrency market and conducting blockchain-related research for years. Mr. Masters believes in the future of Bitcoin and altcoins. However, he thinks the market is yet to pass a few development stages. 

Publication date: 20 May 08:38 AM

German Stock Exchange Börse Stuttgart Welcomes Cryptocurrencies

Soon enough, maybe this fall, German stock exchange Börse Stuttgart is going to start working with cryptocurrencies. For that purpose, the exchange is expected to use its branch. Trading cryptocurrencies will be implemented through the Bison app. The expected trading turnover is around 100 billion dollars.

Publication date: 17 May 12:00 PM

Bitcoin Goes Down, Getting Closer to 8000 USD/BTC

Earlier today, the world’s first and most expensive crypto currency was going down while continuing the downtrend seen a day before. According to CoinMarketCap, the BTC exchange rate dropped below 8300USD/BTC, though it recovered a bit later on. Over the last 24 hours, the currency lost more than 5% of its dollar value. 

Publication date: 16 May 11:51 AM

Bitcoin Rallies Despite Criticism from Buffet and Gates

This trading week, Bitcoin is unlikely to conquer another major threshold located at 10000 USD/BTC. The thing is that some Bitcoin investors were cooled down by the statements made by investment guru and billionaire Warren Buffett, founder of Berkshire Hathaway, as well as by Bill Gates, founder of Microsoft and one of the richest people on the planet.

Publication date: 10 May 09:05 AM

Will Bitcoin Rate Exceed $10K This Week?

This week, the BTC exchange rate may well break above 10000 USD/BTC, most of the experts interviewed by PRIME think.

Publication date: 09 May 12:51 PM

Bitcoin Prospects Look Vague Against Altcoins

The situation in the global market of cryptocurrencies has been changing for a while. Bitcoin seems to be gradually losing its status of the world’s biggest and most popular digital currency.

Publication date: 05 May 10:53 AM

Bitcoin Exchange Rate Goes Up Rapidly, Over $9600 Already

Over the last few days, the Bitcoin exchange rate has been going up continuously. On Thursday, the rate conquered two strong levels of resistance at 9300 and 9400 dollars respectively. On Friday morning, the rate changed to 9600 dollars and continued its way up to new local highs.

Publication date: 04 May 02:08 PM