#Gold price trends after int

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Explore the impact of China's interest rate cut on global gold prices. Understand market dynamics and potential effects on your investments.

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3 Bitcoin On-Chain Trends Show a Macro Bull Market Is Brewing

Bitcoin has surged higher over the past 48 hours due to positive fundamental trends. The cryptocurrency, which traded as low as $10,400 just a week ago, now trades for $11,400. Less than a few hours ago, the coin was trading just shy of $11,500.

BTC’s ongoing move higher has convinced many analysts that a larger bull trend is brewing under the surface. Coin Metrics, a top blockchain analytics and data firm, made this much clear just recently.

The firm released an extensive Twitter thread noting that while there were fundamental factors that drove lower this past month, Bitcoin is strong from an on-chain perspective. They shared a handful of metrics indicating that BTC is in a very similar spot now as the coin was prior to 2017’s exponential explosion.

Related Reading: Ethereum Transaction Fees Surge to All-Time Highs After Uniswap Launch

Bitcoin Bull Trend Is Brewing: CoinMetrics Analysis

Coin Metrics, a top blockchain analytics firm, recently shared a swath of metrics indicating that Bitcoin remains in a long-term bull trend despite any uncertainty in the near term:

Bitcoin MVRV, which attempts to track the profitability of the average BTC investor, is “also holding the same trajectory it did during the 2016/17 bull market.”

The supply of BTC on exchanges is starting to decrease at a strong pace. This suggests that there are more BTC holders, which should drive prices higher over time as on-exchange demand dries up.

” Despite the recent volatility, the number of Bitcoin whales continues to increase, indicating the growing number of large holders that have positive expectations for the future of Bitcoin.”

1/9 Bitcoin has performed remarkably these past few weeks despite: -Most of DeFi falling 50-80% -CFTC charging BitMEX -POTUS contracting Covid -Delayed stimulus talks -FCA announcing a derivative ban for retail

Why? Let’s see what we can find on-chain

— CoinMetrics.io (@coinmetrics) October 9, 2020

Related Reading: MicroStrategy’s Stock Continues to Soar After BTC Purchase

There’s a Lot of Room to Grow

Analysis indicates that the leading cryptocurrency has a lot of room to grow from here.

A crypto-asset chartist recently shared this chart below, which suggests that each of BTC’s macro rally highs has all formed at a Fibonacci extension ending in “0.272.” The analysis suggests that the next cryptocurrency’s high will be approximately $270,000, around 2,500% above current prices.

This optimistic analysis lines up with the sentiment shared by many other in the space. Investors like Dan Tapiero and Raoul Pal, of Gold Bullion Int. and Real VIsion, respectively, both think that the cryptocurrency will undergo an exponential rally during this market cycle.

Brave New Coin Bitcoin Liquid Index Fibonacci Extension Predicts Next Peak | Source: TradingView

Related Reading: MicroStrategy’s Stock Continues to Soar After BTC Purchase

Featured Image from Shutterstock Price tags: xbtusd, btcusd, btcusdt Charts from TradingView.com 3 Bitcoin On-Chain Trends Show a Macro Bull Market Is Brewing

from CryptoCracken SMFeed https://ift.tt/2SEtiGc via IFTTT

[michaelbennettcrypto]

3 Bitcoin On-Chain Trends Show a Macro Bull Market Is Brewing

Bitcoin has surged higher over the past 48 hours due to positive fundamental trends. The cryptocurrency, which traded as low as $10,400 just a week ago, now trades for $11,400. Less than a few hours ago, the coin was trading just shy of $11,500.

BTC’s ongoing move higher has convinced many analysts that a larger bull trend is brewing under the surface. Coin Metrics, a top blockchain analytics and data firm, made this much clear just recently.

The firm released an extensive Twitter thread noting that while there were fundamental factors that drove lower this past month, Bitcoin is strong from an on-chain perspective. They shared a handful of metrics indicating that BTC is in a very similar spot now as the coin was prior to 2017’s exponential explosion.

Related Reading: Ethereum Transaction Fees Surge to All-Time Highs After Uniswap Launch

Bitcoin Bull Trend Is Brewing: CoinMetrics Analysis

Coin Metrics, a top blockchain analytics firm, recently shared a swath of metrics indicating that Bitcoin remains in a long-term bull trend despite any uncertainty in the near term:

Bitcoin MVRV, which attempts to track the profitability of the average BTC investor, is “also holding the same trajectory it did during the 2016/17 bull market.”

The supply of BTC on exchanges is starting to decrease at a strong pace. This suggests that there are more BTC holders, which should drive prices higher over time as on-exchange demand dries up.

” Despite the recent volatility, the number of Bitcoin whales continues to increase, indicating the growing number of large holders that have positive expectations for the future of Bitcoin.”

1/9 Bitcoin has performed remarkably these past few weeks despite: -Most of DeFi falling 50-80% -CFTC charging BitMEX -POTUS contracting Covid -Delayed stimulus talks -FCA announcing a derivative ban for retail

Why? Let’s see what we can find on-chain

— CoinMetrics.io (@coinmetrics) October 9, 2020

Related Reading: MicroStrategy’s Stock Continues to Soar After BTC Purchase

There’s a Lot of Room to Grow

Analysis indicates that the leading cryptocurrency has a lot of room to grow from here.

A crypto-asset chartist recently shared this chart below, which suggests that each of BTC’s macro rally highs has all formed at a Fibonacci extension ending in “0.272.” The analysis suggests that the next cryptocurrency’s high will be approximately $270,000, around 2,500% above current prices.

This optimistic analysis lines up with the sentiment shared by many other in the space. Investors like Dan Tapiero and Raoul Pal, of Gold Bullion Int. and Real VIsion, respectively, both think that the cryptocurrency will undergo an exponential rally during this market cycle.

Brave New Coin Bitcoin Liquid Index Fibonacci Extension Predicts Next Peak | Source: TradingView

Related Reading: MicroStrategy’s Stock Continues to Soar After BTC Purchase

Featured Image from Shutterstock Price tags: xbtusd, btcusd, btcusdt Charts from TradingView.com 3 Bitcoin On-Chain Trends Show a Macro Bull Market Is Brewing

from Cryptocracken WP https://ift.tt/2SEtiGc via IFTTT

[bigyack-com]

Did Strength of Thai Baht Affect Number of Arrivals from UK in 2019? Interview with TAT

On 24 August 2015 the GBP/THB was at 56. Almost exactly one year later the Baht was at 45.53, and on 3 September 2019 travellers to the Kingdom of Thailand could get just 36.96 Thai Baht for 1 GBP. Despite the strength of the Thai Baht many would argue that Thailand still represents excellent value for money as a destination, and with approximately 39.77 million people visiting the country in 2019, the numbers seem to suggest that many agree. So how has the strong Baht, Brexit and other UK-related issues impacted Thailand's tourism industry?

That's just one of the questions that Steven Howard of TravelNewsAsia.com puts to Chiravadee Khunsub, Director of the Tourism Authority of Thailand - UK, Ireland and South Africa, in this exclusive interview. Filmed at TAT's office in London on 8 January 2020, Khun Chiravadee tell us how the UK market was affected by the strength of the Thai Baht in 2019 and what she expects for 2020. We discuss visitor arrival numbers and tourism revenue from the UK in 2019, what targets TAT has for 2020, and what trends Khun Chiravadee is seeing. With so many airlines now flying directly to secondary destinations within Thailand, and from secondary destinations in the UK, we also talk about how that is changing the tourism sector and which airports in the UK Khun Chiravadee would like to see have more direct flights to Thailand. We talk about emerging destinations within Thailand, especially Isaan, and what lessons can be learned from Buri Ram's success with sport tourism. We also talk about the demographics of visitor arrivals, tourism revenue and whether Airbnb distorts those numbers, how TAT plans to market Thailand to the UK market this year and which market segments they are going after the most. All that and much, much more in the FHD video and podcast below.

Thailand Tourism Industry Interview with Chiravadee Khunsub

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New Post has been published on Jav Leech

New Post has been published on https://javleech.com/as-macau-rebounds-casinos-eye-this-next-possible-gaming-hot-spot/

As Macau Rebounds, Casinos Eye This Next Possible Gaming Hot Spot

  As more than $thirteen billion in new production involves finishing touch this year and gaming revenue starts another time to trend higher in China’s huge gambling district of Macau, the area’s largest casino names are searching a rather short distance away for the industry’s subsequent potential bonanza.

Despite its current recession, Macau stays a gold mine, providing the majority of sales flowing to on line casino brands which include Wynn Resorts ( WYNN ), MGM Resorts International ( MGM ) and Las Vegas Sands ( LVS ).

But Chinese regulators are, for now, conserving firm that the district will continue to be the most effective part of us of an in which gambling is criminal. But just 1,500 miles away lies a $5 trillion economic system with the growing older demographics and high non-public wealth and savings charges that spell jackpot inside the eyes of the big on line casino operators.

  Japan’s parliament in December passed a regulation to legalize casinos, ending 15 years of political debate and setting the degree for initiatives that integrate playing with lodges, purchasing and conference space.

“We assume now could be the time that traders want to apprehend the handful of key legislative activities set to occur in the course of the following couple of years, as these moves will from Japan’s attractive included in opportunity,” says one hundred-page evaluation by Moody’s on Japan’s gaming traits. It also said Japan ought to quickly come to be the sector’s third-biggest gaming market, earning revenue of $21 billion in 2024 – its first anticipated 12 months of operation.

But the street to gambling in Japan is simplest partially paved. Japan’s parliament wants to skip an invoice that might lay out the industry shape, such as laws and regulations, taxes, licensing phrases and measures against trouble gambling and money-laundering. But before that, Japan additionally plans to skip a bill on gambling addiction.

“There is resistance by means of residents and politicians who are worried approximately the social ills that can be caused by gaming,” stated Morningstar analyst Dan Wasiolek.

IBD’S TAKE: IBD’s 25-inventory Leisure-Gaming Equipment enterprise organization on Thursday ranked 15 th out of 197 enterprise agencies tracked.

Moody’s expects resorts will open in two urban places, Osaka and Yokohama, and two nearby areas, Nagasaki and Hokkaido, in 2024. Moody’s expects Las Vegas Sands and MGM Resorts to get hold of the two city concessions, “given their robust experience in operating global-renowned included motels.”

Work at the law is expected to conclude with the aid of the end of this year, with resort places to be announced in the second 1/2 of 2018, followed by license awards to operators 12 months later. Facilities could then open in 2024 after a multi-year constructing system, Moody’s said.

When Japanese legislators took up the gaming trouble in 2014, Sheldon Adelson, the billionaire chief govt of Las Vegas Sands, said his organization could be inclined to make investments as an awful lot $10 billion to increase a casino motel within the country. MGM Resorts, Wynn, Melco and Caesars Entertainment have additionally expressed hobby.

MGM Resorts bolstered its commitment to the Japanese market in its latest appointment of Jason Hyland as president of MGM Resorts Japan. Hyland was the U.S. Deputy ambassador to Japan till January, whilst he was appointed as the acting ambassador. MGM said it intends to develop its Japan personal to one dozen.

High-Risk, High-Reward Market The tempo of progress in Japan leaves China the worldwide warm spot for nearly some other decade. And the massive bets that Las Vegas on line casino companies have positioned on Macau are drawing a few fortunate winners, with the world’s largest playing location displaying steady increase after a two-yr decline.

In 2016, gaming sales in Macau slipped to $33 billion, down 3% from 2015, which turned into down 34% from 2014, in step with the Gaming Inspection and Coordination Bureau Macau. But month-to-month numbers display a constant boom during the last one year, with double-digit sales growth in the beyond six months. It became up 29% in July, and 26% in June.

MGM reported 2nd-region sales from its Macau operation of $449 million, up 1% from the year-ago sector. Macau accounted for about 17% of the full revenue of $2.6 billion, which became up sixteen%.

Wynn said casino sales from its Macau operations of $682.7 million for the second zone, up 6.8% from the 12 months-ago quarter, and accounting for about forty-four% of the entire revenue of $1.53 billion, which was up forty-four%.

“Macau has stabilized and is showing healing,” stated Wasiolek. “It’s getting a variety of aid from the Chinese government in making Macau a global vacation spot hotel.”

The volatility in Macau’s gaming revenue growth changed into in large part self-inflicted, coming in the main from China’s government cracking down on unlawful activities together with money laundering, graft, and corruption. Crackdowns in Macau began in 2014 after President Xi Jinping vowed to ease up the previous Portuguese colony. This protected a smoking ban in Macau casinos and a discount in visas issued. China additionally raided district pawn shops that government contended were a channel for cash launderers.

In May, Macau’s GICB said it’s miles increasing its audits of the junket industry. Junkets act as middlemen that convey high rollers and other gamblers to casinos, over issues of money laundering.

“With China placing the regulations whilst it desires, Macau has continually been a high-risk, excessive-reward marketplace,” said Moody’s analyst Keith Foley.

Macau’s growing pains are anticipated to ease as China’s authorities keep to invest heavily in the area. China is spending billions in infrastructures, such as a mega bridge connecting Hong Kong and Macau, and a light-rail gadget designed to ease congestion. China is also reclaiming land to make bigger the dimensions of Macau.

“Macau needed to go through plenty of pain as China worked to clean up the region, inclusive of corruption, underground banking and cash laundering that triggered the slowdown in gaming revenue,” said Wasiolek.

“We agree with the timing is ripe to begin taking a bullish long-time period view on Macau,” wrote Nomura analyst Richard Huang in a research notice final month.

Stable Ratings, And Two Buy Points Among the ones nicely-positioned to cash in on Macau’s revived growth is Wynn Resorts. One yr ago it opened the primary stages of its Wynn Palace, a $four.Four billion, 29-ground motel providing extra than 1,700 rooms. Wynn additionally operates Wynn Macau, a 600-room inn with on line casino, eating places and different amenities, in addition to its Wynn Las Vegas and Encore in Las Vegas.

Moody’s Investor Service has a “solid” rating on Wynn, “supported via the satisfactory, reputation and favorable reputation of company’s lodge residences – a component that maintains to distinguish it from most different gaming operators,” says a February record.

MGM Resorts holds a stake in some of the homes thru MGM China, which includes MGM Macau, a 35-story, six hundred-room on line casino. It plans to open MGM Coati inside the fourth region, with a price tag of $3.9 billion.

Moody’s has a solid score outlook on MGM Resorts, pronouncing that consolidated operating effects will improve over the next yr “due to higher domestic income, in particular in Las Vegas.”

Las Vegas Sands owns 4 homes in Macau thru its majority-owned subsidiary Sands China. Its most modern lodge is the Parisian Macao, a 3,000-room hotel that opened final yr.

Moody’s has a strong rating outlook on Las Vegas Sands, “supported with the aid of our view that it has each the ability and willingness to keep its very strong economic and liquidity profile.”

Another important operator in Macau is Melco Resorts and Entertainment, previously called Melco Crown Entertainment. The organization operates the on line casino inn Altira Macau and the Macau-primarily based City of Dreams casino motel, amongst numerous different homes.

Nomura analyst Harry Curtis in June raised his rate goals on MGM, Wynn, Las Vegas Sands and Melco because of a boom in Macau. Among the main casino shares, MGM and Las Vegas Sands are basing and trying to regain help at their 10-week moving averages.

Wynn is closest to a purchase factor. On Wednesday it traded just underneath a 139.76 purchase factor in a seven-week double-backside base.

[ibdchart symbol=”WYNN” type=”weekly” size=”full” position=”centered” /]

Another close to a purchase factor is Las Vegas-based totally Boyd’s Gaming ( BYD ). It has been hovering simply under a 26.30 purchase factor in a six-week flat base.

[ibdchart symbol=”BYD” type=”weekly” size=”full” position=”centered” /]

Foley stated the outlook for the U.S. Gaming industry stays stable. And gaming sales from the Las Vegas Strip rose eight.3% 12 months-over-yr in June, posting a 3.8% gain vs. The past one year.

But a number of the capability threats dealing with on line casino owners: Growth would possibly gradual as the population of older Americans gives way to more youthful consumers who are “less enthused” about playing, turning alternatively to electronic games or watching on line enjoyment.

The dangers are higher for the nearby gaming operators within the U.S., Foley says because they have got been suffering to grow revenue as clients preserve a good rein on discretionary greenbacks. He said the nearby casino companies also are falling short in generating more numerous assets of sales.

Debt levels are high for Wynn, MGM, Las Vegas Sands and other huge names. But local agencies have a tendency to hold even higher degrees of debt, Foley stated. In the low-interest-charge surroundings, they were able to refinance huge amounts of maturing debt at rather low hobby rates. But rising fees and rising debt maturities may want to area local gamers underneath disproportionate strain.

[joshuajacksonlyblog]

This Macro Factor Is Poised to Send BItcoin and Gold Flying in Tandem

Bitcoin’s price action has not been the most bullish over recent weeks, to say the least.

After the asset posted a series of tops in the $12,000 range, a $2,000 drop ensued.

At the lows early last week, BTC traded for under $10,000 due to immense selling pressure.

Bitcoin has undergone a rally since the worst of the drop and now trades at $10,350 as of this article’s writing.

This is far from a full-blown recovery but analysts remain optimistic about the leading cryptocurrency and its altcoins.

One macro trader, Dan Tapiero of Gold Bullion Int., says that both Bitcoin and gold will be boosted over a long-term time frame due to macro trends.

One such trend he mentioned recently is the collapse in commercial real estate, which he thinks will force the Federal Reserve to maintain stimulus.

Bitcoin and Gold Could Be Boosted by This Macroeconomic Trend

Bitcoin and gold will benefit from the ongoing macroeconomic trends induced by the pandemic and lockdowns, Dan Tapiero recently postulated. Tapiero is a co-founder of 10T Holdings, DTAP Capital, Gold Bullion Int, and other firms. He is a long-time gold bull and recently begun to focus his time on the Bitcoin and digital asset space.

Commenting on how the Federal Reserve will likely keep rates low due to the commercial real estate crisis, Tapiero wrote:

“An entire asset class redefined almost overnight by covid/#WFH. Total value of all US #commercialrealestate is $16 trillion. Now entering largest bear mkt since late 80s? 50% price drop wipes out $8 tril. Major econ drag/knock on effects huge. Rates stay 0%, +#GOLD and #BTC.”

An entire asset class redefined almost overnight by covid/#WFH.

Total value of all US #commercialrealestate is $16 trillion.

Now entering largest bear mkt since late 80s?

50% price drop wipes out $8 tril.

Major econ drag/knock on effects huge.

Rates stay 0%, +#GOLD and #BTC pic.twitter.com/U5luVR8FM6

— Dan Tapiero (@DTAPCAP) September 14, 2020

This is far from the first time Tapiero has expressed his support for Bitcoin due to ongoing macroeconomic trends. He recently said on BTC’s potential to grow in this market cycle:

“Tremendous long term Log Chart of #Bitcoin projects up 5-10x on this run. Just breaking up NOW. Should last a few years as 2.5yr consolidation is fantastic base for catapult up. Break of old highs will have explosive follow through. Time to sit and be patient.”

Not the Only One That Thinks So

He is far from the only bull on Wall Street.

Mike Novogratz, CEO of Galaxy Digital and former partner at Goldman Sachs, recently said that the Federal Reserve’s liquidity injections are poised to send Bitcoin and gold higher.

This has been echoed by Raoul Pal, former hedge fund manager and former head of hedge fund sales at Goldman Sachs. Pal is currently the CEO of Real Vision.

The investor once said that Bitcoin could be the best performing asset of at least the next two years due to its fundamental and technical trends.

Photo by Larry Teo on Unsplash Price tags: xbtusd, btcusd, btcusdt Charts from TradingView.com This Macro Factor Is Poised to Send BItcoin and Gold Flying in Tandem

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It’s “Do or Die” For Bitcoin: Here’s Why Analysts Think So

After peaking at $12,000 this weekend, Bitcoin dove off a cliff, plunging to $11,300 as of this article’s writing. The cryptocurrency followed the price of gold lower, which is down around 7% in the past 24 hours.

Bitcoin is still holding above the pivotal $10,500 level but analysts say that the asset is in a “do or die” position. BTC failing to hold current levels could precede a strong leg lower, potentially kickstarting a full-blown bear trend.

BTC’s recent price action has not impressed investors, who noted just days ago that the cryptocurrency was poised to see new year-to-date highs.

Related Reading: “Rich Dad Poor Dad” Author: Bitcoin Could Soon Become the “Fastest Horse”

Bitcoin Is in Make of Break Territory, Say Analysts

According to a cryptocurrency trader, Bitcoin is currently in make or break territory as it slides towards the ever-important $11,000 support. Referencing the chart below, which shows that BTC is effectively on the edge of a cliff, the trader in question wrote:

“Starting to look pretty bad, but given we’re still above $11k and around support, it’s not all over yet. Bulls really don’t want to see these levels fall otherwise it’s a short way back in the old range. This is do or die IMO so bulls better do. I’m still leaning bearish.”

Chart of BTC's price action over the past few weeks with a range analysis/price level analysis by trader DonAlt (@CryptoDonAlt on Twitter). Chart from TradingView.com

Bitcoin bouncing here, though, could indicate that the cryptocurrency remains in a macro uptrend.

Other analysts are especially eyeing the $10,400-10,600 region. That region acted as a point at which three separate BTC rallies have topped in the past 12 months: one in October 2019, one in February 2020, and one just months ago in June.

Bitcoin losing that level would not be good for the bull case, to say the least.

Related Reading: Crypto Tidbits: Bitcoin Explodes Past $11k, Ethereum 2.0 Nears, Cardano’s Shelley Launches

Long-Term Bull Case Still Intact

While Bitcoin’s price is exuding weakness in the near term, analysts are certain that the long-term bull case is intact.

Dan Tapiero, the founder of Gold Bullion Int. and a prominent Bitcoin bull, recently commented that the cryptocurrency is poised to go parabolic this cycle:

“Tremendous long term Log Chart of #Bitcoin projects up 5-10x on this run. Just breaking up NOW. Should last a few years as 2.5yr consolidation is fantastic base for catapult up. Break of old highs will have explosive follow through. Time to sit and be patient.”

Tremendous long term Log Chart of #Bitcoin projects up 5-10x on this run.

Just breaking up NOW.

Should last a few years as 2.5yr consolidation is fantastic base for catapult up.

Break of old highs will have explosive follow through. Time to sit and be patient.

H/T @RaoulGMI pic.twitter.com/08bIpZ6i9h

— Dan Tapiero (@DTAPCAP) August 11, 2020

This strong sentiment has been echoed by other market participants, including many in and out of the cryptocurrency space.

Related Reading: How U.S. Restrictions on Wechat & Other Chinese Brands Could Boost Crypto

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It’s “Do or Die” For Bitcoin: Here’s Why Analysts Think So

After peaking at $12,000 this weekend, Bitcoin dove off a cliff, plunging to $11,300 as of this article’s writing. The cryptocurrency followed the price of gold lower, which is down around 7% in the past 24 hours.

Bitcoin is still holding above the pivotal $10,500 level but analysts say that the asset is in a “do or die” position. BTC failing to hold current levels could precede a strong leg lower, potentially kickstarting a full-blown bear trend.

BTC’s recent price action has not impressed investors, who noted just days ago that the cryptocurrency was poised to see new year-to-date highs.

Related Reading: “Rich Dad Poor Dad” Author: Bitcoin Could Soon Become the “Fastest Horse”

Bitcoin Is in Make of Break Territory, Say Analysts

According to a cryptocurrency trader, Bitcoin is currently in make or break territory as it slides towards the ever-important $11,000 support. Referencing the chart below, which shows that BTC is effectively on the edge of a cliff, the trader in question wrote:

“Starting to look pretty bad, but given we’re still above $11k and around support, it’s not all over yet. Bulls really don’t want to see these levels fall otherwise it’s a short way back in the old range. This is do or die IMO so bulls better do. I’m still leaning bearish.”

Chart of BTC's price action over the past few weeks with a range analysis/price level analysis by trader DonAlt (@CryptoDonAlt on Twitter). Chart from TradingView.com

Bitcoin bouncing here, though, could indicate that the cryptocurrency remains in a macro uptrend.

Other analysts are especially eyeing the $10,400-10,600 region. That region acted as a point at which three separate BTC rallies have topped in the past 12 months: one in October 2019, one in February 2020, and one just months ago in June.

Bitcoin losing that level would not be good for the bull case, to say the least.

Related Reading: Crypto Tidbits: Bitcoin Explodes Past $11k, Ethereum 2.0 Nears, Cardano’s Shelley Launches

Long-Term Bull Case Still Intact

While Bitcoin’s price is exuding weakness in the near term, analysts are certain that the long-term bull case is intact.

Dan Tapiero, the founder of Gold Bullion Int. and a prominent Bitcoin bull, recently commented that the cryptocurrency is poised to go parabolic this cycle:

“Tremendous long term Log Chart of #Bitcoin projects up 5-10x on this run. Just breaking up NOW. Should last a few years as 2.5yr consolidation is fantastic base for catapult up. Break of old highs will have explosive follow through. Time to sit and be patient.”

Tremendous long term Log Chart of #Bitcoin projects up 5-10x on this run.

Just breaking up NOW.

Should last a few years as 2.5yr consolidation is fantastic base for catapult up.

Break of old highs will have explosive follow through. Time to sit and be patient.

H/T @RaoulGMI pic.twitter.com/08bIpZ6i9h

— Dan Tapiero (@DTAPCAP) August 11, 2020

This strong sentiment has been echoed by other market participants, including many in and out of the cryptocurrency space.

Related Reading: How U.S. Restrictions on Wechat & Other Chinese Brands Could Boost Crypto

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[michaelbennettcrypto]

It’s “Do or Die” For Bitcoin: Here’s Why Analysts Think So

After peaking at $12,000 this weekend, Bitcoin dove off a cliff, plunging to $11,300 as of this article’s writing. The cryptocurrency followed the price of gold lower, which is down around 7% in the past 24 hours.

Bitcoin is still holding above the pivotal $10,500 level but analysts say that the asset is in a “do or die” position. BTC failing to hold current levels could precede a strong leg lower, potentially kickstarting a full-blown bear trend.

BTC’s recent price action has not impressed investors, who noted just days ago that the cryptocurrency was poised to see new year-to-date highs.

Related Reading: “Rich Dad Poor Dad” Author: Bitcoin Could Soon Become the “Fastest Horse”

Bitcoin Is in Make of Break Territory, Say Analysts

According to a cryptocurrency trader, Bitcoin is currently in make or break territory as it slides towards the ever-important $11,000 support. Referencing the chart below, which shows that BTC is effectively on the edge of a cliff, the trader in question wrote:

“Starting to look pretty bad, but given we’re still above $11k and around support, it’s not all over yet. Bulls really don’t want to see these levels fall otherwise it’s a short way back in the old range. This is do or die IMO so bulls better do. I’m still leaning bearish.”

Chart of BTC's price action over the past few weeks with a range analysis/price level analysis by trader DonAlt (@CryptoDonAlt on Twitter). Chart from TradingView.com

Bitcoin bouncing here, though, could indicate that the cryptocurrency remains in a macro uptrend.

Other analysts are especially eyeing the $10,400-10,600 region. That region acted as a point at which three separate BTC rallies have topped in the past 12 months: one in October 2019, one in February 2020, and one just months ago in June.

Bitcoin losing that level would not be good for the bull case, to say the least.

Related Reading: Crypto Tidbits: Bitcoin Explodes Past $11k, Ethereum 2.0 Nears, Cardano’s Shelley Launches

Long-Term Bull Case Still Intact

While Bitcoin’s price is exuding weakness in the near term, analysts are certain that the long-term bull case is intact.

Dan Tapiero, the founder of Gold Bullion Int. and a prominent Bitcoin bull, recently commented that the cryptocurrency is poised to go parabolic this cycle:

“Tremendous long term Log Chart of #Bitcoin projects up 5-10x on this run. Just breaking up NOW. Should last a few years as 2.5yr consolidation is fantastic base for catapult up. Break of old highs will have explosive follow through. Time to sit and be patient.”

Tremendous long term Log Chart of #Bitcoin projects up 5-10x on this run.

Just breaking up NOW.

Should last a few years as 2.5yr consolidation is fantastic base for catapult up.

Break of old highs will have explosive follow through. Time to sit and be patient.

H/T @RaoulGMI pic.twitter.com/08bIpZ6i9h

— Dan Tapiero (@DTAPCAP) August 11, 2020

This strong sentiment has been echoed by other market participants, including many in and out of the cryptocurrency space.

Related Reading: How U.S. Restrictions on Wechat & Other Chinese Brands Could Boost Crypto

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It’s “Do or Die” For Bitcoin: Here’s Why Analysts Think So

After peaking at $12,000 this weekend, Bitcoin dove off a cliff, plunging to $11,300 as of this article’s writing. The cryptocurrency followed the price of gold lower, which is down around 7% in the past 24 hours.

Bitcoin is still holding above the pivotal $10,500 level but analysts say that the asset is in a “do or die” position. BTC failing to hold current levels could precede a strong leg lower, potentially kickstarting a full-blown bear trend.

BTC’s recent price action has not impressed investors, who noted just days ago that the cryptocurrency was poised to see new year-to-date highs.

Related Reading: “Rich Dad Poor Dad” Author: Bitcoin Could Soon Become the “Fastest Horse”

Bitcoin Is in Make of Break Territory, Say Analysts

According to a cryptocurrency trader, Bitcoin is currently in make or break territory as it slides towards the ever-important $11,000 support. Referencing the chart below, which shows that BTC is effectively on the edge of a cliff, the trader in question wrote:

“Starting to look pretty bad, but given we’re still above $11k and around support, it’s not all over yet. Bulls really don’t want to see these levels fall otherwise it’s a short way back in the old range. This is do or die IMO so bulls better do. I’m still leaning bearish.”

Chart of BTC's price action over the past few weeks with a range analysis/price level analysis by trader DonAlt (@CryptoDonAlt on Twitter). Chart from TradingView.com

Bitcoin bouncing here, though, could indicate that the cryptocurrency remains in a macro uptrend.

Other analysts are especially eyeing the $10,400-10,600 region. That region acted as a point at which three separate BTC rallies have topped in the past 12 months: one in October 2019, one in February 2020, and one just months ago in June.

Bitcoin losing that level would not be good for the bull case, to say the least.

Related Reading: Crypto Tidbits: Bitcoin Explodes Past $11k, Ethereum 2.0 Nears, Cardano’s Shelley Launches

Long-Term Bull Case Still Intact

While Bitcoin’s price is exuding weakness in the near term, analysts are certain that the long-term bull case is intact.

Dan Tapiero, the founder of Gold Bullion Int. and a prominent Bitcoin bull, recently commented that the cryptocurrency is poised to go parabolic this cycle:

“Tremendous long term Log Chart of #Bitcoin projects up 5-10x on this run. Just breaking up NOW. Should last a few years as 2.5yr consolidation is fantastic base for catapult up. Break of old highs will have explosive follow through. Time to sit and be patient.”

Tremendous long term Log Chart of #Bitcoin projects up 5-10x on this run.

Just breaking up NOW.

Should last a few years as 2.5yr consolidation is fantastic base for catapult up.

Break of old highs will have explosive follow through. Time to sit and be patient.

H/T @RaoulGMI pic.twitter.com/08bIpZ6i9h

— Dan Tapiero (@DTAPCAP) August 11, 2020

This strong sentiment has been echoed by other market participants, including many in and out of the cryptocurrency space.

Related Reading: How U.S. Restrictions on Wechat & Other Chinese Brands Could Boost Crypto

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[brettzjacksonblog]

It’s “Do or Die” For Bitcoin: Here’s Why Analysts Think So

After peaking at $12,000 this weekend, Bitcoin dove off a cliff, plunging to $11,300 as of this article’s writing. The cryptocurrency followed the price of gold lower, which is down around 7% in the past 24 hours.

Bitcoin is still holding above the pivotal $10,500 level but analysts say that the asset is in a “do or die” position. BTC failing to hold current levels could precede a strong leg lower, potentially kickstarting a full-blown bear trend.

BTC’s recent price action has not impressed investors, who noted just days ago that the cryptocurrency was poised to see new year-to-date highs.

Related Reading: “Rich Dad Poor Dad” Author: Bitcoin Could Soon Become the “Fastest Horse”

Bitcoin Is in Make of Break Territory, Say Analysts

According to a cryptocurrency trader, Bitcoin is currently in make or break territory as it slides towards the ever-important $11,000 support. Referencing the chart below, which shows that BTC is effectively on the edge of a cliff, the trader in question wrote:

“Starting to look pretty bad, but given we’re still above $11k and around support, it’s not all over yet. Bulls really don’t want to see these levels fall otherwise it’s a short way back in the old range. This is do or die IMO so bulls better do. I’m still leaning bearish.”

Chart of BTC's price action over the past few weeks with a range analysis/price level analysis by trader DonAlt (@CryptoDonAlt on Twitter). Chart from TradingView.com

Bitcoin bouncing here, though, could indicate that the cryptocurrency remains in a macro uptrend.

Other analysts are especially eyeing the $10,400-10,600 region. That region acted as a point at which three separate BTC rallies have topped in the past 12 months: one in October 2019, one in February 2020, and one just months ago in June.

Bitcoin losing that level would not be good for the bull case, to say the least.

Related Reading: Crypto Tidbits: Bitcoin Explodes Past $11k, Ethereum 2.0 Nears, Cardano’s Shelley Launches

Long-Term Bull Case Still Intact

While Bitcoin’s price is exuding weakness in the near term, analysts are certain that the long-term bull case is intact.

Dan Tapiero, the founder of Gold Bullion Int. and a prominent Bitcoin bull, recently commented that the cryptocurrency is poised to go parabolic this cycle:

“Tremendous long term Log Chart of #Bitcoin projects up 5-10x on this run. Just breaking up NOW. Should last a few years as 2.5yr consolidation is fantastic base for catapult up. Break of old highs will have explosive follow through. Time to sit and be patient.”

Tremendous long term Log Chart of #Bitcoin projects up 5-10x on this run.

Just breaking up NOW.

Should last a few years as 2.5yr consolidation is fantastic base for catapult up.

Break of old highs will have explosive follow through. Time to sit and be patient.

H/T @RaoulGMI pic.twitter.com/08bIpZ6i9h

— Dan Tapiero (@DTAPCAP) August 11, 2020

This strong sentiment has been echoed by other market participants, including many in and out of the cryptocurrency space.

Related Reading: How U.S. Restrictions on Wechat & Other Chinese Brands Could Boost Crypto

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[michaelbennettcrypto]

It’s “Do or Die” For Bitcoin: Here’s Why Analysts Think So

After peaking at $12,000 this weekend, Bitcoin dove off a cliff, plunging to $11,300 as of this article’s writing. The cryptocurrency followed the price of gold lower, which is down around 7% in the past 24 hours.

Bitcoin is still holding above the pivotal $10,500 level but analysts say that the asset is in a “do or die” position. BTC failing to hold current levels could precede a strong leg lower, potentially kickstarting a full-blown bear trend.

BTC’s recent price action has not impressed investors, who noted just days ago that the cryptocurrency was poised to see new year-to-date highs.

Related Reading: “Rich Dad Poor Dad” Author: Bitcoin Could Soon Become the “Fastest Horse”

Bitcoin Is in Make of Break Territory, Say Analysts

According to a cryptocurrency trader, Bitcoin is currently in make or break territory as it slides towards the ever-important $11,000 support. Referencing the chart below, which shows that BTC is effectively on the edge of a cliff, the trader in question wrote:

“Starting to look pretty bad, but given we’re still above $11k and around support, it’s not all over yet. Bulls really don’t want to see these levels fall otherwise it’s a short way back in the old range. This is do or die IMO so bulls better do. I’m still leaning bearish.”

Chart of BTC's price action over the past few weeks with a range analysis/price level analysis by trader DonAlt (@CryptoDonAlt on Twitter). Chart from TradingView.com

Bitcoin bouncing here, though, could indicate that the cryptocurrency remains in a macro uptrend.

Other analysts are especially eyeing the $10,400-10,600 region. That region acted as a point at which three separate BTC rallies have topped in the past 12 months: one in October 2019, one in February 2020, and one just months ago in June.

Bitcoin losing that level would not be good for the bull case, to say the least.

Related Reading: Crypto Tidbits: Bitcoin Explodes Past $11k, Ethereum 2.0 Nears, Cardano’s Shelley Launches

Long-Term Bull Case Still Intact

While Bitcoin’s price is exuding weakness in the near term, analysts are certain that the long-term bull case is intact.

Dan Tapiero, the founder of Gold Bullion Int. and a prominent Bitcoin bull, recently commented that the cryptocurrency is poised to go parabolic this cycle:

“Tremendous long term Log Chart of #Bitcoin projects up 5-10x on this run. Just breaking up NOW. Should last a few years as 2.5yr consolidation is fantastic base for catapult up. Break of old highs will have explosive follow through. Time to sit and be patient.”

Tremendous long term Log Chart of #Bitcoin projects up 5-10x on this run.

Just breaking up NOW.

Should last a few years as 2.5yr consolidation is fantastic base for catapult up.

Break of old highs will have explosive follow through. Time to sit and be patient.

H/T @RaoulGMI pic.twitter.com/08bIpZ6i9h

— Dan Tapiero (@DTAPCAP) August 11, 2020

This strong sentiment has been echoed by other market participants, including many in and out of the cryptocurrency space.

Related Reading: How U.S. Restrictions on Wechat & Other Chinese Brands Could Boost Crypto

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Ethereum Classic Prints Bearish On-Chain Signals Despite Bitcoin Breakout

Bitcoin is breaking higher, but the same cannot be said about Ethereum Classic (ETC).

The popular altcoin has dropped in the past 24 hours, posting a loss of around 2%. This means the asset is underperforming BTC by 5%.

Ethereum Classic is printing bearish on-chain and technical signs as it prepares to move lower.

This comes after the underlying network was hit by two 51% attacks that made many question the value of ETC.

Ethereum Classic trades at around $7 as of this article’s writing, making it one of the top-30 digital assets in circulation.

Ethereum Classic Prints Bearish On-Chain Signs

Ethereum Classic is printing bearish on-chain signals despite an ongoing Bitcoin price breakout. Blockchain analytics startup IntoTheBlock shared the data seen below on Monday morning.

According to the firm, ETC is currently “mostly bearish” with three out of five of the company’s core indicators currently printing “bearish” signals. These three indicators are “Net Network Growth,” the number of addresses with ETC balances; “In the Money,” an indicator of the momentum of the profitability of investors, and the number of “Large Transactions.”

Image of Into The Block's Ethereum Classic on-chain/exchange signals dashboard as of Monday morning.

The slowdown in Ethereum Classic’s network activity may pertain to news regarding Coinbase’s listing of the crypto asset.

Due to recent issues with the blockchain, the company will require two weeks of block confirmations for ETC deposited to show up in user accounts. This makes it effectively impossible for one to deposit their ETC coins on the exchange, thus decreasing some transaction demand:

“Given the recent network attacks on Ethereum Classic, we have increased the confirmation time for ETC sent to Coinbase & Coinbase Pro to ~2 weeks. We are actively monitoring the situation and will provide updates as they become available.”

Given the recent network attacks on Ethereum Classic, we have increased the confirmation time for ETC sent to Coinbase & Coinbase Pro to ~2 weeks. We are actively monitoring the situation and will provide updates as they become available.

— Coinbase Support (@CoinbaseSupport) August 8, 2020

It is unclear to what extent ETC’s market value correlates with the on-chain trends of Ethereum Classic.

Is ETC Worth Anything?

Although ETC is still a cryptocurrency worth $800 million, some have begun to question if the network has any value at all.

For context, Ethereum Classic saw two 51% attacks in the span of a week. A 51% attack is when a single entity/group manages to obtain more than half (hence “51%”) of a blockchain’s mining power, allowing them to reorganize the chain and pull off other tricks. The most common threat of a 51% attack is “double spending” coins, allowing one’s balance to be used more than once on service providers or users.

Analysts say that if ETC cannot properly secure value due to these attacks, it is intrinsically worth nothing. Dan Tapiero, the founder of Gold Bullion Int. and an outspoken Bitcoin bull, commented:

“Why isn’t #ethereumclassic worth zero? It has a $800mm mkt cap. Why own something that can be easily attacked and stolen when there are so many alternatives (even within alts space). Digital currency is supposed to be secure. What am I missing here?”

Why isn't #ethereumclassic worth zero? It has a $800mm mkt cap.

Why own something that can be easily attacked and stolen when there are so many alternatives (even within alts space).

Digital currency is supposed to be secure.

What am I missing here?https://t.co/k78W8m6kL0

— Dan Tapiero (@DTAPCAP) August 6, 2020

This sentiment was echoed to a T by Mati Greenspan, a fund manager in the cryptocurrency space, Brave New Coins Josh Olszewicz, and many more.

Featured Image from Shutterstock Price tags: etcusd, etcbtc Charts from TradingView.com Ethereum Classic Prints Bearish On-Chain Signals Despite Bitcoin Breakout

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