Bitcoin Price Eyes Upside Break, Could Start Strong Increase Above $27,200 Resistance Zone
Bitcoin's price is gradually increasing and may experience a significant surge if it surpasses the $27,200 resistance level. The cryptocurrency has formed a base and is now trading above $27,000 and the 100 hourly Simple moving average. However, there is a crucial bearish trend line forming with resistance near $27,150 on the hourly chart of the BTC/USD pair. If Bitcoin fails to clear the $27,150 resistance, it could start another decline with immediate support on the downside near the $26,900 level. Technical indicators show that the MACD is gaining pace in the bullish zone and the RSI for BTC/USD is now above the 50 level.
Bloomberg：Ethereum's Volatility May Experience Smaller Near-Term Price Fluctuations Compared to Bitcoin
Ethereum has caught the attention of traders due to a shift in market dynamics, with volatility gauges indicating that Ether may experience smaller near-term price fluctuations compared to Bitcoin. This unexpected reversal has piqued the interest of investors who are closely monitoring the evolving landscape of cryptocurrencies. The T3 Ether Volatility Index has emerged as an indispensable tool for assessing and forecasting price volatility in the Ether market. The changing volatility of Ether has significant implications, including a potential reduction in risk aversion among investors and a need for market participants to adjust their risk management approaches and allocation of resources based on the evolving volatility landscape.
Bitcoin Holds Steady as Emerging Markets Turn to Crypto Amid Currency Struggles
Bitcoin remains stable at $26.8K despite the ongoing debt-ceiling negotiations in the US. Investors are closely monitoring the situation as a failure to reach an agreement could negatively impact risk appetite and send crypto prices lower. Meanwhile, Ethereum is also range-bound, trading between $1,750 and $1,850. Pakistan's recent ban on cryptocurrency is discussed in the article, with potential reasons including tension with the Financial Action Task Force and talks with the International Monetary Fund for a bailout package. Tether's trading volume has fallen to multi-year lows while its market cap continues to rise, and privacy blockchain Namada is proposing an airdrop ahead of its mainnet launch.
Bitcoin Indicator Turns $5 into $34,000 with Shocking 88% Success Rate and 679,000% ROI
A new video showcases a Bitcoin indicator that can turn $5 into $34,000 with an 88% success rate and a 679,000% ROI. The Fisher Transform tool, created by John Elhers, transforms price data into a Gaussian normal distribution, making it easier to understand. The tool generates buy and sell signals when the trigger line crosses above or below the fisher line, and passing through the zero line indicates a strengthening trend. Combining the tool's signals with Japanese candlesticks, chart patterns, and Elliott Wave Principle can improve results.
Bitcoin has bottomed and the world's biggest cryptocurrency is on a new bull run, MicroStrategy's Michael Saylor says
MicroStrategy's Michael Saylor believes that bitcoin has bottomed and is now on a new bull run. He attributes this to factors such as the halving of bitcoin, increased adoption of the cryptocurrency, and regulatory crackdowns that will weed out competitors. Saylor also notes the significance of recent proposals for crypto accounting and reporting standards, which could lead to further mainstream adoption. Additionally, he highlights the bullish potential of Ordinals protocol activity on Bitcoin's network. Despite some growing pains in the industry, Saylor remains optimistic about bitcoin's future prospects.
Total global electricity usage for cryptocurrency assets such as Bitcoin are between 120 and 240 billion kilowatt-hours per year with the U.S. leading
A team of researchers at Texas A&M University is studying the impact of cryptocurrency mining on the power grid and energy consumption. The study found that cryptocurrency transactions use more electricity than some countries, such as Argentina and Australia, consume in a year. The research also revealed an 18% reduction in worldwide cryptocurrency mining during the summer heatwave in Texas in 2022 due to stress on the power grid. However, the study suggests that crypto mining could provide flexibility during peak energy usage periods if modeled as a flexible load that can be turned off during stressed moments. The findings were published in two academic journals focused on energy markets, policy and regulation.
Bitcoin and Ethereum Volumes Dry Up Amid Price Struggles
Bitcoin and Ethereum are experiencing a decline in trading volume, according to on-chain data from Santiment. The combined trading volumes of BTC and ETH are currently at their lowest level in over a year, with altcoin volume also drying up.
Bitcoin's Historical Patterns of Boom and Bust and the Risk of Reversion: Bloomberg Strategist
Bitcoin's historical patterns of boom and bust are closely tied to liquidity, according to Mike McGlone, a senior commodity strategist at Bloomberg. McGlone warns that Bitcoin's current price level of around $27,000 may be at risk of reversion, considering that it was only $7,000 at the end of 2019 before the massive liquidity pump in 2020.
Solana Faces Challenges To Compete With Established Blockchain Networks Like Ethereum and Bitcoin
Ethereum has been a major player in the blockchain industry, particularly in decentralized finance and applications. However, it has faced criticism for its scalability issues and high transaction fees, leading to the emergence of other blockchain networks such as Solana. Solana has gained attention for its high speed, low transaction fees, and scalability, making it a promising alternative for developers and users.
Bitcoin (BTC) Price Prediction for May 2023: On-Chain Data Shows Positive Signals for Another Breakout Toward $30,000 Amidst Drop in Transaction Fees and Increased Demand
Bitcoin's price has been fluctuating in May 2023, but it has remained above the $25,000 support level. On-chain data suggests that BTC may break out towards $30,000, and the upcoming "Pizza Day" event could validate this prediction. BTC prices dropped below $29,000 due to the US debt-ceiling crisis and a spike in BRC-20 Ordinals transactions, which triggered a fee hike.
