Does this explain this analyst’s decision to not add to existing ETH position

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AMBCrypto News 23 July, 2021 - 10:30pm 19 views

Who owns Bitcoin?

Elon Musk Reveals Spacex Owns Bitcoin, He Personally Owns . 2 days ago. Spacex owns bitcoin … notaiogriffo.itWho Owns Bitcoin public companies who own bitcoin - Elon Musk Reveals Spacex Owns Bitcoin, He Personally Owns .

Does spacex own Bitcoin?

Spacex and Tesla CEO Elon Musk has revealed that he personally owns bitcoin, ethereum, and dogecoin. notaiogriffo.itElon Musk Bitcoin - Tesla Will Likely Accept Bitcoin Again, Says Elon Musk

Bitcoin Could Crash To $20,000

Investing.com 25 July, 2021 - 07:00am

Various online sellers including Shopify (NYSE:SHOP) users can now accept DOGE payments. Cryptocurrency payment processor Coinbase (NASDAQ:COIN) Commerce has added Dogecoin to its...

Cryptocurrencies took advantage of the rebound in the stock market, locally offsetting the recent decline. From a broader perspective, the coin only manages to offset part of the...

Since mid-March, Bitcoin, the largest cryptocurrency by market cap, has been in a serious slump. However, recently the digital token appears to have recovered, having received a...

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Why Bitcoin, Ethereum, and Dogecoin Popped -- Then Dropped

Motley Fool 25 July, 2021 - 07:00am

Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services.

It's finally Friday, and while this morning it looked like cryptocurrencies would end the week on a high note, things got ugly in a hurry.

Buoyed by good news out of investment bank JPMorgan Chase, the price of Bitcoin (CRYPTO:BTC) bounced nearly 2% out of the gate, Ethereum (CRYPTO:ETH) ran past 3%, and Dogecoin (CRYPTO:DOGE) briefly passed a 4% gain. But things took a sudden turn for the worse around about 10:30 a.m. EDT, and have deteriorated as the day dragged on.

Here's where prices on the three best-known cryptocurrencies stand at 12:45 p.m. EDT, according to the price-trackers at CoinDesk:  

So what's happening in the world of cryptocurrency right now? Early in the day, investors seemed to react to investment bank JPMorgan's announcement -- reported today by Forbes magazine -- that all of its wealth management clients will henceforth be permitted to invest in Bitcoin (and other cryptocurrencies, too) via the bank.  

As Forbes explains, JPMorgan will be the first major U.S. bank to permit its clients to do so, potentially blazing the trail for other banks to follow suit. In the meantime, just the fact that JPMorgan alone is giving its blessing to cryptocurrency investing opens the floodgates to a perhaps significant portion of the $630 billion in money that JPMorgan manages, which can now be invested in cryptocurrency. Furthermore, the new policy permits all JPMorgan clients to invest in cryptocurrency through the bank -- even its self-directed clients.

Forbes does note that JPMorgan will not permit its advisors to recommend cryptocurrency products to clients -- "the clients must ask to make crypto trades," says the magazine.  

Does that single caveat, though, explain why the cryptocurrency buyers who came out in force this morning have suddenly turned into cryptocurrency sellers in the afternoon? I can't imagine why. 

To the contrary, JPMorgan's announcement seems to me to suggest that cryptocurrency is gaining broader market acceptance as something that reasonable people might reasonably want to invest in. And the fact that this announcement comes from the bank headed by Jamie Dimon -- who in May famously declared, "My personal advice is to stay away from crypto" -- just emphasizes the point.

I really have to wonder if the people who are selling cryptocurrencies today might be better off buying it instead.

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TA: Ethereum Recovers Sharply, Why ETH Could Continue Higher above $2K

NewsBTC 25 July, 2021 - 07:00am

Ethereum formed a decent support base above the $1,720 level, similar to bitcoin. As a result, ETH price started a steady increase above the $1,800 and $1,850 resistance levels.

There was also a close above the $1,900 level and the 100 hourly simple moving average. Ether price even spiked above the $2,000 resistance, but there was no proper close. A high was formed near $2,033 and the price is now correcting gains.

There was a break below the $2,000 level. It even tested the 23.6% Fib retracement level of the upward move from the $1,755 swing low to $2,033 high.

If Ethereum fails to continue higher above $2,000 and $2,020, it could start a downside correction. An initial support on the downside is near the $1,970 level.

The first major support is near the $1,920 level. The main support is now forming near the $1,900 level. It is close to the 50% Fib retracement level of the upward move from the $1,755 swing low to $2,033 high. Any more losses could set the pace for a drop towards the $1,850 support zone in the near term. The next major support sits near the $1,800 level.

Hourly MACDThe MACD for ETH/USD is now gaining pace in the bullish zone.

Hourly RSIThe RSI for ETH/USD is now above the 60 level.

Aayush is a Senior Forex, Cryptocurrencies and Financial Market Strategist with a background in IT and financial markets. He specialises in market strategies and technical analysis, and has spent over a DECADE as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the currency, commodities, Bitcoin and Ethereum markets.

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

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Market Wrap: Bitcoin Analysts Expect a Short-Squeeze - CoinDesk

CoinDesk 25 July, 2021 - 07:00am

Bitcoin sellers are expected to cover positions, which could lead to higher prices next week.

Upside momentum is improving, which could keep crypto buyers active into the weekend. Some analysts expect a short-squeeze to push bitcoin above the 50-day moving average around $34,000 given oversold conditions on the charts. 

“For the first time in many weeks we are seeing bullish signs here and expect Bitcoin to head towards the upper end of the $30,000-$40,000 range,” wrote Pankaj Balani, CEO of Delta Exchange, in an email to CoinDesk.

“On the options front we have seen a good amount of covering between the $35,000-$40000 strikes for the weekly maturity,” Balani wrote. “For the July expiry there is still decent open interest in the $35,000 strike, which should act as a ceiling for BTC for this month.”

Overall, risk sentiment is improving in traditional and crypto markets as concerns about tighter monetary stimulus wane. On Thursday, the European Central Bank (ECB) pledged to keep interest rates lower for longer and adjusted its policy stance to allow for a slight overshoot of the 2% inflation target. 

The ECB announcement along with a broad decline in global government bond yields contributed to higher stock prices over the past week. Aside from the reach for yield, improving sentiment and positive comments from Tesla CEO Elon Musk on Wednesday kept crypto bulls active.

Bitcoin options traders are pricing an 8% chance of the cryptocurrency rising to a new peak above $64,800 by Dec. 31, according to data source Skew. 

Additionally, six-month implied volatility, or investors’ expectations for price turbulence, has dropped to a more than two-month low of 80% at press time, having peaked at 122% on May 17.

That implies investors expect the price consolidation to continue for a while, wrote CoinDesk’s Omkar Godbole

The chart below shows the bitcoin leverage ratio, which is open interest divided by exchange reserves, reaching the highest level since April. The bitcoin funding rate is slightly negative, which indicates higher short interest than long interest, according to Nakamoto. 

The funding rate measures the cost to fund long positions in the market for bitcoin perpetual swaps, a type of derivative in the cryptocurrency markets similar to futures contracts in traditional markets.

Compared with traditional asset classes, digital asset markets still have a “long way to go before more risk-averse investors are fully at ease,” according to a report by CryptoCompare.

But according to multiple analysts and market participants, the impact of NFT sales, if any at all, remains a nonfactor on ether’s prices. Instead, the complaint showcases many traders and investors’ frustrations in a dull market.

The speculation “is more like a reflection of the current market sentiment,” Daniel Lv, co-founder of China-based blockchain Nervos Network, told CoinDesk’s Muyao Shen through a representative.

The blame, though, isn’t completely irrational since growth in the NFT market has not quite slowed down partly because of the large number of endorsements it has received from non-crypto celebrities.

tezos (XTZ) +3.24%

the graph (GRT) -4.82%

polkadot (DOT) -4.1%

nucypher (NU) -3.76%

Busta Rhymes Is 'Officially Holding Bitcoin' Thanks To Elon Musk, Jack Dorsey And Cathie Wood - Benzinga

Benzinga 25 July, 2021 - 07:00am

What Happened: American rapper Busta Rhymes told his Twitter followers that he was now sold on Bitcoin (CRYPTO: BTC).

After watching the #Bitcoin conference live with @jack @elonmusk @CathieDWood i’m sold on Bitcoin.

— Busta Rhymes (@BustaRhymes) July 22, 2021

The rapper said that he was now officially holding Bitcoin and was looking into Ethereum (CRYPTO: ETH) next, after being inspired by a discussion between Elon Musk, Cathie Wood, and Jack Dorsey at the B Word conference.

“When you have brilliant minds coming together through an unfiltered source. I like that. Speaks directly to me. They all are using it and more importantly holding it,” he added.

Busta Rhymes was especially convinced by a statement from Elon Musk explaining why governments are no worse than corporations.

Government and it’s monopoly on Violence… damnnn pic.twitter.com/RsX0oSIeLJ

— Busta Rhymes (@BustaRhymes) July 22, 2021

"Government is just a corporation in the limit. Sometimes some people are like against corporations but [in favor of] government. It's like: Guys, the government is just a corporation in the limit. It's the biggest corporation of all, and it's got a monopoly on violence. So, if you don't like corporations, you should really hate government," said the Tesla Inc (NASDAQ:TSLA) CEO.

Musk was explaining the context in which he believes Bitcoin can have an empowering effect for individuals and increase the power of individuals relative to government.

He also revealed that Bitcoin made up the majority of his crypto holdings, followed by Ethereum and Dogecoin (CRYPTO: DOGE).

Price Action: At press time, Bitcoin was trading at $32,469, gaining 0.92% over the past 24-hours.

Ethereum was up 1.23%, trading at a price of $2,044, while Dogecoin was down by 1.34%, trading at $0.1879.

Click here, or sign up for our newsletter to explore more of Benzinga's Cryptocurrency market coverage, in-depth coin analysis, data, and reporting.

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Cryptocurrencies Price Prediction: Ethereum, Litecoin & Bitcoin – American Wrap 23 July

FXStreet 25 July, 2021 - 07:00am

Bitcoin price captured the upper line of a falling wedge pattern this week, signaling that the flagship cryptocurrency may be on to bullish outcomes. Ethereum price confronts the 2020 ascending trendline, reinforcing the 200-day SMA. XRP price has credible support at $0.51 to counter any renewal in selling pressure.

Bitcoin price revival appears to be going well considering the recent sweep of the July 15 swing high. While this uptick in the market value of BTC is bullish, there is bound to be a minor pullback that will help catapult the pioneer cryptocurrency higher.

Litecoin price recorded nine consecutive down days and an oversold reading on the daily Relative Strength Index (RSI) before the 9.8% gain on July 21. The rebound from the 78.6% retracement level of the 2020-2021 advance marked the second time the cryptocurrency bounced at that level over the past month, confirming it as legitimate support moving forward. More importantly, LTC is constructing a new, timely entry price to accommodate those investors arriving late.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

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The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Bitcoin price revival appears to be going well considering the recent sweep of the July 15 swing high. While this uptick in the market value of BTC is bullish, there is bound to be a minor pullback that will help catapult the pioneer cryptocurrency higher.

A brief technical and on-chain analysis on TRON price. Here, FXStreet's analysts evaluate where TRX could be heading next as it seems bound for higher highs.

Cardano price has seen a quick run-up after approaching the trading range’s lower limit. While this uptick in ADA’s market value was obvious, investors should be aware of a minor pullback before the so-called “Ethereum killer” embarks on another leg up.

A brief technical and on-chain analysis on Dash price. Here, FXStreet's analysts evaluate where DASH could be heading next as it consolidates.

Bitcoin price shows considerable strength after springing from the recent crashes. Still, it is uncertain whether the current bullish impulse will morph into a new uptrend or lead to a more profound decline.

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Ethereum's Price Could Hit $17,800 by 2025, Expert Panel Suggests

CryptoGlobe 24 July, 2021 - 09:27pm

The price of Ethereum could outperform the flagship cryptocurrency this year to surge by over 150% to $4,596, and its performance could be such that by 2025 one ether would be worth $17,810, according to a cryptocurrency experts panel.

The figures come from the average forecast from 27 out of 42 experts Finder surveyed that gave price predictions for the cryptocurrency. While the experts panel believes the price of ETH will more than double this year, they believe that by December 2025 it’ll be over $17,800 and that by December 2030 one ETH will have skyrocketed to $71,700.

The later price prediction is skewed by an outlier who believes ETH will trade at $1 million by then. Looking at the median price prediction, the forecast points to Ethereum trading at $20,000. That Price prediction was earlier this year made by former Goldman Sachs executive Raoul Pal, who based on Metcalfe’s Law saw ETH hit $20,000 this cycle.

BTC = ETH. Fact. Different assets, different ecosystems, same adoption, same behavioral economics = same same but different… pic.twitter.com/zeMyoDlX88

On Finder’s survey, Coinflip founder and chief advisor Daniel Polotsky gave forecasts in line with the panel average, expecting ether to hit $4,000 by the end of the year, before surging to $64,000 by 2030. In a statement, he said its price “largely follows Bitcoin’s halving cycles, although that relationship may begin to decouple as time goes on.”

Polotsky noted that as Ethereum continues to develop use cases “that Bitcoin cannot achieve” its price may grow at a faster rate than that of BTC. Morpher CEO Martin Fröhler and RealFevr’s head of blockchain Pedro Febrero revealed they see ETH top $10,000 by the end of this year.

Fröhler said that Ethereum has the “potential to power the future global financial infrastructure.” A total of 93% of panelists said ETH will eventually be more frequently transacted than the flagship cryptocurrency , and 56% see it retain its dominance n the decentralized finance (DeFi) space, despite all of its competitors.

CoinSmart CEO Justin Hartzman defended both of these positions. In a statement, Hartzman said:

People don’t like transacting with BTC since it’s more of a store of value. Ethereum, on the other hand, has built a full-on multi-billion dollar ecosystem so the frequency of ETH transactions is definitely going to be a lot more.

Addressing the so-called “flippening” – the possibility that Ethereum will overtake Bitcoin to become the number one cryptocurrency by market capitalization – 68% of respondents said they see it coming, with 58% of those seeing it within the next five years.

Forrest Przybysz, senior cryptocurrency investment analyst at Token Metrics, revealed he sees ETH at $8,000 by the end of the year, and believes the flippening will occur next year partly because of Ethereum’s move to Proof-of-Stake.

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