Bitcoin Value can not break all-time high until 2024: Crypto Trader

The price of Bitcoin currently exceeds the minds of most traders and financial analysts. As the crypto asset earned its third-highest profit in a day since the beginning of last week.

The powerful movement has once again led to a renewed discussion of all the highest levels of BTC. What it can cost and when. However, a leading cryptocurrency trader who has made many precise calls in the past believes that. Bitcoin will not set a new historical high in the next five years.

According to the Fibonacci sequence in October 2024, Bitcoin is reaching its highest point

About two years ago Bitcoin set its all-time high at height of the crypto bubble, priced at $20k per BTC. Since then, it went through a painful bear market and fell to a minimum of $3,100. It more than 80% retracement from its peak to the minimum.

This year, Bitcoin made its first real attempt to set a new record and attracted intelligent and risk-tolerant investors. Who recorded the lowest profit of 350% at the last local peak. But once Bitcoin reached $14,000, it violently rejected. Putting a brake on everything that set the new all-time high for this year.
However, crypto investors expect the next Bitcoin stop in May 2020 to take the asset to a new record level. Even a highly-quoted BTC flow quote model suggests that Bitcoin will be at least $ 55,000 per BTC per year, while it is Bitcoin at the beginning of next year.

However, another theory emerged, which immersed in mathematics. A leading cryptocurrency trader who has made several successful calls, even calling for an explosion in early June and suggesting that it would be one of the first alternative currencies to explode after the NEO, states that Bitcoin is a new one. It will not set a record high until 2024.
The analyst's theory is based on the Fibonacci sequence. The Fibonacci number forms a sequence in which each number is the sum of the previous number. The analyst is trying to apply the idea that Bitcoin will set its next historical maximum.

According to the trader, it took 625 days for Bitcoin to exceed all the peak highs of the bull market in 2011. Then it took 1250 days to exceed the all-time high during the Bull Run 2013.

Interestingly, the sum of 625 + 625 is 1250, which increases the reliability in the merchant's theory that each new historical maximum is set at twice the previous maximum. The Fibonacci sequence would suggest that the current historical maximum of $20,000 would not be broken until 2500 days have passed, or until October 24, 2024.
While this may seem like an eternity at this point, BTC only reached $20,000 680 days ago. This means that the new Bitcoin record price still saved approximately 70% before setting the new BTC record price if the theory correct.

Chinese Appetite in Bitcoin remains high post Crypto Rally in line with knowledge

Last week, the news that Chinese President Xi Jinping spoke in support of blockchain technology led to an increase in crypto markets and Bitcoin set its third-largest profit of a day in terms of percentage in the history of ten years of assets.

However, price action has slowed down. According to an array of popular Chinese websites, interest in Bitcoin is just as high and could be an indication that another bull impulse will soon form.

Chinese continues to show growing interest in Bitcoin after widespread pumping

Chinese President Xi Jinping approved the blockchain technology that describes Bitcoin and several other crypto assets that generated shocks in the industry and led cryptocurrency prices during the past week.
Bitcoin was trading locally for $7,400, then suddenly it rose to $10,500 before a setback to replenish its jet. The measure set the record for the highest one-day gain since 2011 and the third-largest one-day gain in history assets.

After pumping bitcoin, Chinese alternative currencies like NEO also began to increase. Tron, Bytom and some other Chinese alternative currencies followed, more than 30% intraday.
Since then, the bombs began to fade, however, consolidation may occur before the current price action advances another step. According to data from the popular social media messaging application WeChat. The Weibo microblogging service and the Baidu search engine, the interest in Bitcoin that leaves China remains as strong as when the news was first announced.

But will China really pay expensive crypto when they are launching DCEP?

Despite the sudden increase in interest in Bitcoin, some are skeptical. Dowie Wan, affected by the popular cryptocurrency, points out that the average household income in China is only $ 10,000. Roughly the price of a full BTC at current prices. She concludes that most citizens will see bitcoin as "very expensive" and, instead, will see cheap altcoins and blockchain actions.
Both types of assets were also received in the news. But they could also be a temporary increase, as China has revealed that. It will soon introduce its centralized digital currency, the DCEP.

The People's Bank of China will launch the DCEP and convert it into the digital currency of favor in the country. China known for its closed-wall policies that control the flow of information it receives from its citizens. The DCEP will probably be used for similar purposes, and China can see other cryptocurrencies such as Bitcoin instead of the new national currency, and can try to destroy Bitcoin or possibly prevent its citizens from using it.
The seal of approval of Xi in the blockchain does not necessarily translate into support for bitcoin, and only time will tell if there was a recent increase, or if it was simply news for whales to pump bitcoin under a false event. It was an incident

Ripple Bulls are silent while many Altcoins rally Importantly

The price of the Ripple is gradually increasing and is below the $ 0.3150 resistance zone against the US dollar.
The price faces several upward obstacles near the $ 0.3120 and $ 0.3150 levels.
The hourly chart of the XRP / USD pair (Kraken data source) has a significant uptrend line with support close to $ 0.2950.
Several altcoins such as TRX, ONT, NEO and VET have risen more than 20% in the last three sessions.
The price of the Ripple is increasing with a slower rate against the US dollar, while Bitcoin and Ethereum are increasing more. The XRP price must break $ 0.3150 to remain high.

Ripple Value Analysis

In recent days, we saw a strong rebound in some important heights against Bitcoin, Ethereum and the US dollar. Ripple prices rose further and broke the resistance levels of $ 0.2850 and $ 0.3000.

In addition, the price rose above $ 0.3040 and was set above the simple 100-hour moving average. A high swing was made about $ 0.3149 before the correction for the price drop.

There was a break below the support area of ​​$ 0.3000. In addition, the price traded below the 23.6% Fibonacci retracement level of an upward movement of $ 0.2470 to $ 0.3179 maximum. Finally, there was a break below the support zone of $ 0.2950.

However, the $ 0.2850 support area served as a strong support with the 100-hour SMA. In addition, the price remained stable above the 50% retracement level from the minimum of $ 0.2470 to the maximum of $ 0.3179.

Initially, the price of the Ripple has steadily increased and is quoted above the $ 0.3000 level. More importantly, in the XRP / USD hourly chart, there is a significant uptrend line with support close to $ 0.2950.

If there is a disadvantage below the trend line, the price can reissue the $ 0.2850 support zone and the 100-hour SMA. Any additional loss could probably increase the pressure of the recession and push the price towards the support area of ​​$ 0.2750.

On the positive side, there are several obstacles near the $ 0.3040 and $ 0.3050 levels. If the price goes up faster, you can reissue the resistance of $ 0.3150. A clear break above $ 0.3150 could push the price towards $ 0.3220.
Looking at the chart, the price of the Ripple has steadily increased, but has slowed to more than $ 0.3000. Therefore, there may be another slight decrease towards $ 0.2900 or $ 0.2850 before the strong growth begins in the next sessions.

Technical indicators

The MACD per hour: for XRP / USD, the MACD is likely to return to the bearish zone.

RSI (Relative Strength Index) per hour: the RSI for XRP / USD is less accurate and can test 50 levels.

Main support levels: $ 0.2950, ​​$ 0.2900 and $ 0.2850.

Main resistance levels: $ 0.3050, $ 0.3120 and $ 0.3150.

Ethereum Abrasion Higher, BTC Could Revisit $10K

Ethereum prices show positive signs above the $ 175 and $ 180 levels against the US dollar.
The price of Bitcoin is rising more and is likely to reflect the main resistance zone of $ 10,000 again.
There is a growing channel with support close to $ 183 on the hourly chart of ETH / USD (data feed through Kraken).
The pair is likely to continue higher and break the $ 190 and $ 192 resistance levels in the short term.
Ethereum prices move higher with positive signs against the US dollar, while Bitcoin is close to $ 10,000. The ETH price must break $ 190 to go up to $ 200

Ethereum price analysis

In recent days, Ethereum had a strong recovery above the $ 175 and $ 180 resistance levels. Later, it saw a fall, but the price remained above $ 175 and the 100-hour simple moving average bid.

Similarly, Bitcoin prices rose above the $ 10,000 level and recently declined. However, BTC also gained support and is again climbing further towards the main resistance zone of $ 10,000.

The recent minimum change was about $ 175 before Ethereum started again. It broke the $ 180 and $ 182 resistance levels. In addition, there was a break above the 50% fiber recoil level from a downward movement of a maximum of $ 199 to a minimum of $ 175.

The price tested the resistance level of $ 190, where the Bears are fighting hard. In addition, it seems that the 61.8% fiber recoil level of the downward shift from the $ 199 high to the $ 175 swing low is acting as a resistance.

Therefore, it is likely that an inverse break above the $ 190 resistance will open the doors for more gains in the next sessions. The next big resistance is near the $ 198 and $ 200 levels. An intermediate resistance is a $ 194 or 76.4% fiber retracement level from a high of $ 199 to a low swing of $ 175.

On the negative side, the $ 180 level has multiple supports. In addition, there is a growing channel with support close to $ 183 on the ETH / USD hourly chart. If there is a problem, the price can try the 100-hour or $ 175 SMA support.
Looking at the chart, Ethereum's price is clearly steadily rising above $ 185. That said, the resistance level of $ 190 would have to be broken to keep the price. Otherwise, there is likely to be another negative correction towards the $ 175 support area in the short term.

ETH technical indicators

MACD per hour: MACD for ETH / USD is gradually losing momentum in the fast zone.

The RSI for the hourly RSI - ETH / USD is less accurate and is close to 50 levels.

Key Support Level: $ 180

Major Resistance Level - $ 190

NEO Rolling above 40%, Chinese Cryptos Incur Explosive Rallies

Bitcoin has been caught in the upward trend of a company in recent days. Which has begun to spread in the Alto general market, with many smaller cryptocurrencies. Such as the reception of meteorites by NEO in the last 24 hours.

It seems that the most profitable cryptocurrencies are the Chinese alternative currencies, which may be because they are catching the tail of the frequent comments of the Chinese president about the state of the blockchain industry.

NEO shoots as more than 40% of Bitcoin continuous escalation

At the time of writing, NEO is trading at more than 43% of its current value of $ 12.28. Indicating a significant increase from its daily highs of $ 8.45.

It is important to keep in mind that this last parabolic movement occurred when the NEO had already achieved some good profits, with cryptocurrencies that are currently trading well above the weekly lows of less than 7%.

It is widely the result of President Xi's comments that China wants to make it a world leader in blockchain technology, so naturally. These comments favorably reflected in the main blockchain projects based in China, such as the NEO.

In addition, the recent bitcoin rebound is reaching the cryptocurrency. As it has been able to skyrocket from the recent lows of $ 7,300 to a maximum of $ 10,600 before settling at its current price of $ 9,700.

Powerful narrative that drives Chinese Altcoins for the rally

NEO is not alone in its recent rally, as Tron, Ontology and other Chinese blockchain projects have gained massive upward momentum in recent hours.

Luke Martin, a leading cryptocurrency analyst on Twitter, talked about the NEO rally in an earlier tweet as of today and noted that a powerful narrative is driving it. Which could mean that new gains are imminent.

"$ NEO is exceeding 7-10% in 7 hours. Stories are a powerful thing worldwide. It is important to recognize that almost every overpass is a * commercial * opportunity. It is not the same as BTC. Now I am And I don't tweet too much about the alert. But inefficiencies will always interest me, "he said, pointing to the chart below.
Assuming that China will begin to advance in blockchain technology in the coming months. It is likely that the cryptocurrency associated with China-based projects will continue to experience greater momentum.

Bitcoin rush to $9,700 further of weekly close: Building bull case

The Bitcoin bull (BTC) began pushing cryptocurrency markets to a weekly close. Which scheduled to take place four hours after the publication of this article. At the time of writing this, the leading cryptocurrency is trading at $ 9,700, 10% more than the Saturday low of $ 8,900. Altcoins has largely followed the BTC, recording similar gains.
While Bitcoin has still dropped around $ 800 since its weekly high of $ 10,600. Which reached amid a historic flow of volatility on Friday night. Analysts believe the recent increase is validating the idea that the BTC is taller Ready to tear.

Bitcoin is likely to continue to gain momentum

A "JB" analyst reported that with this latest move of $ 7,700 to $ 9,700, the three-day bitcoin chart looks very fast.

He drew attention to the following reasons to support his prediction: a recent candle can be defined as a "quick closing candle," a downward trend line that reached the top of the $ 14,000 June line. It broke, the markets have seen their day of greatest volume in months. MACD is printing a strong divergence and the Willie indicator now leaves the oversold area Yes, it is.
It is far from its end. The Smokey merchant noted that Ichimoku Cloud, a de facto all-in-one indicator that allows merchants to track trends, is printing a series of buy signals: Kumo. A trend line and the impending cloud boom A break with a twist from. Therefore, he confirmed that "this is the biggest bull trap", a scenario he said is very unlikely. Or "we are in BTC for a good Q4 2019 / Q1 2020".
Despite all these positive signs, analysts are still confused about what led to this increase. The most obvious answer is President Xi's support for blockchain technologies, which exploited the Internet and Chinese media. However, analysts are currently divided into that thesis.

Bitcoin Latest Rally is “Alive and Well” as Far as BTC Holds Higher $8k

Bitcoin (BTC) has been on a wild journey for the past few days and weeks, as it has been able to publish a meteor rally since the recent lows of $ 7,300, which may indicate that its recent lows are prolonged. They are below. After considerable gains ahead.

A leading analyst now points out that the recovery of BTC is currently strong despite a return from its recent highs, and also notes that the recovery will survive and last as long as cryptocurrencies shed $ 8,000 Being able to stay above the lower level of.

Bitcoin Surges Towards $10,000 as Bulls Extend Upwards Momentum

At the time of writing, bitcoin is trading almost 4% above its current value of $ 9,500, indicating a significant increase from its recent lows of $ 7,300 that occurred just before the big rally last Friday. It was established.

It is important to note that Bitcoin is still trading below its recent high of $ 10,600. That set at the peak of the recent recovery, and its withdrawal from these highs led some investors and analysts to believe that the recovery exaggerated. Led by the bull and it would be fleeting.

Despite this, the cryptocurrency has been able to increase its upward momentum in recent hours, as it quickly approaches price levels of $ 10,000.

Alex Kruger, a popular economist who focuses primarily on cryptocurrency, reported in a recent tweet that he believes Bitcoin has experienced a continuation after its breakthrough that pointed to the underlying strength. Can do.

“After one of the biggest $ BTC in history (42%), bigger than anything we saw during the 2017 bubble, the business is underway. Continued The fact is that the news is about * hyperkyphosis * size/time. If the demand for the continental continent were real. It would be said to be larger.

BTC must be above $ 8,000 for the update to remain solid

Kruger said in a later tweet that Bitcoin needs to maintain areas above $ 8,000 to maintain its current uptrend, since any fall below this level could invalidate the recovery and cause further damage. Is.

"For me, those areas are 200DMA, $ 9000 and mid $ 8000. The lengths are perfect for long-term operations of $ 8200. If the price drops to $ 8200- $ 8000, the movement is dead and the continuity goes down. Wait, ”he said.
A few days and hours can clarify the state of this rally, since your response in the $ 10,000 zone can determine how it moves during the weeks and months.