Bitcoin – Base formation or rising wedge?

• BTC bears unable to break on the downside.

• Bulls unable to cross past range $4,100-$4,400.

Bitcoin, the largest cryptocurrency by market capitalisation has been forming a technical pattern that's making it difficult for the bulls as well as bears to break past easily. However, as soon as it breaks on either side, the moves would be large enough
 

BTC/USD is trading flat on day at $3,986 and in less than one percent range for the day – proof of consolidation days of the poster boy of cryptos. On the 720-minute chart, after forming bottom of $3,126 in the month of December last year, the king of cryptos has been slowly and gradually moving up.
 

Inspite that, the bulls have not been able to cross past the range of $4,100-$4,400. Resulting in a base formation on the downside and a rising wedge like formation. If rising wedge holds true (which it may not, given past failures of falling wedges) then the next downside on BTC would be chaotic as the fall would then bring about sub-$2k levels.
 

BTC/USD 720-minute chart:

Alan Zibluk Markethive Founding Member

Bitcoin can surge as high as $400,000

Naeem Alsam, Chief market analyst at Think Markets, columnist at Forbes, and crypto enthusiast, said that he personally believes that each Bitcoin can go up as much as $400K.

Naeem Aslam, the chief market analyst at Think Markets U.K., explained why the $4,000 level is of such importance for Bitcoin, as it will set the trend for which direction the markets will take next.

'Questions are being asked constantly when it comes to Bitcoin's battle with the $4000 mark', Aslam said.

'The result of this battle sets the tone for a bullish or bearish trend. Since December 14, 2018, there have been several battles between bulls and bears at the price level of $4K. In each of this battle, bulls have lost the war because, after the first attack at the $4K level, the bears have been able to gain enough strength to push the price back below this critical mark. It is in this essence, that this level has become a matter of death or life for crypto traders.'

The chief market analyst went on to say that 'if you are a long-term investor, you will not really worry about these short-term levels', referring to the fact that Bitcoin's current price levels do seem to be significant in the short term, in the long term these prices may turn out to be highly insignificant, as Aslam believes that BTC could eventually surge as high as $400k.

'This is because there is a high chance that the next bull run has a minimum potential of pushing the price 5 times higher. That is over $100K', Aslam said.

'I personally believe that each Bitcoin can go up to as much as $400K and if history repeats itself, this number is not a fool’s paradise. This is a simple math calculation: approximate percentage projection of the price which we experienced during the last bull run.'

In the beginning of December 2018, Aslam already mentioned that the feeling of panic which was and (still is) spreading throughout the crypto universe was a good indicator that a Bitcoin bottom was close enough.

Chepicap reported recently that another prominent cryptocurrency trader, going by the Twitter handle Galaxy, tweeted to his 49K Twitter followers that April will be the last month where you will be able to grab yourself some cheap Bitcoin.

The analyst said that more often than not, the Bitcoin price seems to move in a random manner. However, BTC creates repeating patterns and trends, and according to Galaxy, this observed pattern will make April 2019 the last month of cheap $BTC … ever again!

22 MAR, 2019 BY JOERI CANT

Alan Zibluk Markethive Founding Member

Bitcoin Cash price analysis – BCH/USD capped by $160.00, bears are on the alert

• BCH/USD has gained over 22% in recent 7 days.

• The upside may be limited due to technical correction.

Bitcoin Cash (BCH), the sixth largest coin by market value, is changing hands at $156.23. The coin has gained 1.2% since this time on Wednesday, though it is still 6% lower from the recent high touched at $166.53 on March 18. Bitcoin Cash has a capitalization of $2.8B and an average daily trading volume $376M.

On the intraday level, BCH/USD is supported by SMA100 (1-hour) currently at $156.49. Once it is cleared, the downside is likely to gain traction with the next bearish target $152.90 (Wednesday’s low) followed by psychological $150.00. Meanwhile, a sustainable move lower will open up the way towards $147.50 (SMA50, 4-hour) and $146.70 (SMA200, 1-hour).

On the upside, the major short-term target is $160.00, followed by the recent high at $166.53. The ultimate bullish target at this stage is $170.00; however, the move towards that area seems less likely considering flat intraday RSI and an extended consolidation below recent highs.

BCH/USD, 1-hour chart

Tanya Abrosimova

FXStreet

Alan Zibluk Markethive Founding Member

Bitcoin Mining Hardware Market Analysis 2019 – ASICrising GmbH, Bitmain Technologies Ltd.

Global Bitcoin Mining Hardware Market Trends, Size and Segment Forecasts, 2019-2026 published by Market Research Place includes data of the key industry players and their scope in the market. The report offers a comparison of key countries based on contribution to global as well as regional level with types, applications, manufacturers, opportunities, challenges. It delivers a balanced mix of main and subordinate research methodologies for its analysis. recent developments and latest contracts awarded in the market across different regions are demonstrated in the report.

Competitive Analysis:

The research analyses market size and forecast of Bitcoin Mining Hardware by product, region, and application. Market competition situation among the vendors and company profile is featured in the report. A section dedicated to company profiles covers business profiles, SWOT analysis, project feasibility analysis, product portfolio, cost structure, and project feasibility analysis of key manufacturers. The buyer of this report will be able to take accomplished decisions, plan new projects and business strategies evaluate drivers and restraints, know upcoming opportunities and difficulties, and offer you an industry forecast for 2019 to 2026.

The study focuses on industry chain analysis and all variables including upstream and downstream. These comprise equipment and raw materials, industry trends and proposals, raw materials, client surveys, and marketing channels. Furthermore, researchers have performed a top to bottom investigation of the market measure, different geographic locales, premium industry patterns, and real market portions.

Segment by product type, this report focuses on consumption, market share, and growth rate of the market in each product type and can be divided into: Type 1, Type 2, Type 3, Others

Segment by application, this report focuses on consumption, market share, and growth rate of the market in each application and can be divided into: Enterprise, Personal,

Key Takeaways From This Report:

Explore market potential through examining growth rates, price, and volume for products type, end use applications.

Understand the various dynamics influencing the Bitcoin Mining Hardware market –hidden opportunities, key driving factors, and challenges.

The market report estimates the sales and distribution channels across key geographies to boost top-line revenues.

Evaluate the supply-demand gaps, import-export figures and restrictive landscape for prime countries globally for the industry.

The Scope of The Report: This report focuses on the Bitcoin Mining Hardware in the global market, especially in North America, Europe, Asia Pacific, South America and Middle East & Africa

ACCESS FULL REPORT: https://www.marketresearchplace.com/report/global-bitcoin-mining-hardware-market-trends-size-and-128450.html

Market competition by top manufacturers/players includes key players such as Antminer, ASICrising GmbH, Bitmain Technologies Ltd., BIOSTAR Group, BitDragonfly, BitFury Group, DigBig, Ebang, Gridchip, BTCGARDEN, Butterfly Labs, Inc., Clam Ltd, CoinTerra, Inc., Black Arrow, Btc-Digger, Gridseed, HashFast Technologies, LLC, iCoinTech, Innosilicon, KnCMiner Sweden AB, Land Asic, LK Group, MegaBigPower, SFARDS, Spondoolies-Tech LTD, TMR,

The report can reduce risks involved in making decisions and strategies for companies and other individuals who want to enter the Bitcoin Mining Hardware market. Performance of contestant operating in the market with respect to market shares, strategies, monetary benchmarking, product benchmarking and additional is measured. Additionally, the report provides a fast outlook on the market covering aspects such as deals, partnerships, product launches of all key players for 2013 to 2018.

Barry Collins

March 20,

Alan Zibluk Markethive Founding Member

Bitcoin maintains above $4K, most top 100 in red, Kin sees 47% gain

The new week has started in a not-too-good stance for almost all coins in the top 100, with few exceptions coming from coins, such as Stellar (XLM), Kin and Enjin Coin (ENJ).
 

Overall

The new week has started low for most coins as red color dominates the top 100-coin list. That said, the total market capitalization doesn’t see any significant changes at $139,654,671,582.

Top 10

The largest cryptocurrency, Bitcoin (BTC) has successfully maintained its value above $4,000 at $4,034, despite seeing a minor 0.38% loss in the last 24 hours.

The other coins on the top 10 have been seeing losses, except Stellar (XLM) and Tether (USDT), with the biggest loss experienced by Litecoin (LTC) with -3.05% at $60.1 price point.

XLM is leading the gain by 2.55% at $0.11, while USDT sees a 0.21% gain at $1.01 price point.

Top 100

Most coins in the top 100 are in red color, with few exceptions, such as Enjin Coin (ENJ), Ravencoin (RVN), Maximine Coin (MXM) and Kin (KIN).

The biggest gain is seen by KIN with an impressive 47.8% at $0.000073, followed by ENJ and MXM that see 15.39% and 12.67% gains at $0.19 and $0.04 price points respectively.

Crypto.com Chain (CRO) has again seen another dip with -9.56% at $0.068, followed by REPO with -7.73% at $0.61 and DigiByte (DGB) with -7.16% at $0.013.

Will BTC maintain above $4,000 the whole week? Will Craig "Faketoshi" Wright's legal issue and his decision to leave the Twitter-verse have an impact on Bitcoin SV's price? Stick with Chepicap to find out.

19 MAR, 2019 ,  BY FIFI ARISANDI

Alan Zibluk Markethive Founding Member

Bitcoin Bottom? Two Strong Signs of a Crypto Market Trend Reversal

This past weekend the cryptocurrency market enjoyed a spectacular rally, reaching almost $140 billion in value. Leading crypto asset Bitcoin (BTC) soared past the critical $4,000 resistance level that has been holding it down for months, prompting many to ask – is the bottom in for Bitcoin?
 

Two crypto enthusiasts on Twitter have pointed out compelling arguments as to why they believe the bottom could be in for Bitcoin and the crypto market’s year-long bear run might be over.

High Volume

Crypto investor and creator of Twitter tipping app tippin.me, Kevin Rooke, recently posted a tweet detailing the huge increase in BTC’s daily exchange volume.
 

“Volume has increased by ~150% in the last 5 months,” he points out in the tweet. That’s the highest that Bitcoin’s daily exchange volume has been in over a year and the majority of the increases have been this month. In fact, Bitcoin’s daily exchange volume has exceeded $10 billion only nine times in the past year. “5 of those days have been in March 2019,” the tweet continues.

Last night’s massive injection of volume and the resulting rally that pushed BTC above $4,000 certainly backs up Rooke’s assertions. This is the second time in two days that BTC has tested and surpassed $4,000. A third test and break above will indicate a confirmed trend reversal and open up $4,850 as the next upside target.
 

Gold Chart Comparisons

Comparisons between Bitcoin and Gold are nothing new, with many crypto investors dubbing BTC “digital gold” over the years. However, Twitter user @CabSav9 recently made and an even more telling comparison between the two assets.
 

When comparing Bitcoin and the long-term chart of Gold since its peak in the late ’70s and the resulting decade long bear market, the two graphs look shockingly similar. After it’s crash in the early ’80s, Gold took almost two decades to stabilize and begin accumulating value again. Bitcoin, by comparison, appears to have followed a similar pattern but over a much shorter timeline. This accelerated correction makes sense considering the speed at which assets can be traded nowadays and the increased pace of life in general.

If @cabsav9’s comparison is anything to go by, Bitcoin should begin to build a decent rally soon. In fact, if one were to redraw the chart to follow the Gold trend, BTC could be on $10,000 as early as June this year.
 

The truth is, if you looked hard enough you would probably find several charts that coincidentally follow similar trend patterns when adjusted for time. However, the fact that Gold and Bitcoin have so often been compared in the past makes for a strong argument.

Bitcoin is currently trading just above $4,000 and as Asian markets opened strong this morning, it looks set to make some further gains throughout the day.

AUTHOR

Mark Hartley

March 18, 2019, GMT+0000, 5:06 am

Alan Zibluk Markethive Founding Member

Bitcoin breaks above $4,000, most coins in the top 100 see red

Bitcoin breaks the $4,000 resistance, the top 100 is dominated by red, with few exceptions, such as Binance Coin (BNB), BitTorrent (BTT) and ABBC Coin (ABBC).

Overall

The overall crypto market is dominated by red color with several exceptions from several coins, such as Bitcoin (BTC), Binance Coin (BNB), ABBC Coin (ABBC) and BitTorrent (BTT).
 

The total market cap is $139,279,230,113.

Top 10

The gain on the top 10 coin is led by BNB that sees a 4.96% gain at $15.86, followed by Tether (USDT) that gains by 0.49% at $1.01.

The largest cryptocurrency, BTC manages to break through the $4,000 resistance level at $4,022 after seeing a 0.4% in the last 24 hours.

On the other hand, Bitcoin Cash (BCH) sees the biggest loss at $150.10 with -4.82%, followed by TRON (TRX) that’s losing by 1.39% at $0.02 and Litecoin (LTC) that sees a loss of 0.9% at $61.14 price point.

Top 100

The biggest gainer on the top 100 is BitTorrent (BTT) that sees 11.09% at $0.0008, followed by the coin that just changed its name, the ABBC Coin (ABBC) that gains by 7.85% at 0.37 and Maximine Coin (MXM) that sees a 6.27% loss at $0.03 price point.  

While the top 3 biggest losers on the top 100 are Crypto.com chain (CRO) that’s losing by 22.89% at $0.07 after seeing an impressive 47.78% gain in less than 24 hours ago, followed by Digitex Futures (DGTX) and Wanchain (WAN) that see 7.43% and 5.17% loss at $0.07 and $0.4 price points respectively.

17 MAR, 2019 | UPDATED: 17 MAR, 2019

Alan Zibluk Markethive Founding Member