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Bitcoin (BTC) Price Bullish Trend Still Valid: Trader

News
Fri, 06/12/2020 - 14:34
Vladislav Sopov
While Bitcoin (BTC) slowly recovers from its painful 8.6% price drop after its latest attempt to break into five-digit zones, traders are guessing its next move
Bitcoin (BTC) Price Bullish Trend Still Valid: Trader
Cover image via stock.adobe.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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Anonymous trader and analyst Jack Sparrow (@BTC_JackSparrow) has posted an update of his short-term prediction of Bitcoin (BTC) price dynamics. Despite things not looking splendid for bulls, they shouldn't surrender, the analyst says.

Seeking shorts? No conditions have been met!

Mr. Jack Sparrow updates his charts daily, adjusting the predictions according to up-to-date price trend swings. One week ago shortly after the 'Bart Simpson' fake rally above $10,000, he warned that bulls should avoid being engulfed by bears as the price returned to the $9,500 level.

Trader Jack Sparrow stays bullish
Image via Twitter

This prediction has come true: bears failed to gain control over the Bitcoin (BTC) price but applied increased pressure on it. That led to the next stage of the correction. At press time, Bitcoin (BTC) is trading above $9,500 on major spot exchanges.

As Mr. Jack Sparrow analyzes the one-day timeframes, the current one is green. So, he believes that Bitcoin (BTC) traders should neither close their longs nor start seeking shorts.

Bulls control Bitcoin (BTC) over $9,460
Image via Twitter

The U.Today Crypto News team once again reminds you that we highly recommend treating the predictions of anonymous traders with extreme caution. Always do your own research or contact a certified investment analyst.

Bullish trend still in power

Seasoned trader and analyst Michael van de Poppe believes in a similar evaluation for the mid-term trend for the Ethereum (ETH) price. He highlighted that dangerous waters for Ethereum (ETH) bulls start only between $210 and $220.

Otherwise, the Ethereum (ETH) price is just finishing its correction before another explosive upmove to new yearly highs above $300.

However, prominent cryptocurrency expert Tone Vays isn't so optimistic about Bitcoin's (BTC) mid-term future.

As covered by U.Today, Mr. Vays, a vocal Bitcoin (BTC) maximalist won't be surprised if the flagship cryptocurrency revisits $7,000 this summer.

About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

Ethereum (ETH) Market Cap May Become Equal to Bitcoin's (BTC): ConsenSys Director

News
Mon, 07/13/2020 - 14:38
Vladislav Sopov
John Lilic, managing director at ConsenSys decentralized development studio, has shared an over-bullish prediction for Ethereum (ETH) progress
Ethereum (ETH) Market Cap May Become Equal to Bitcoin's (BTC): ConsenSys Director
Cover image via stock.adobe.com
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John Lilic leads international business development in the ConsenSys leading blockchain development studio. He is also an expert in energy markets and cryptocurrency segments. He tracked the progress of Bitcoin's (BTC) and Ethereum's (ETH) market capitalization statistics, coming up with an extravagant prediction.

Bitcoin (BTC) should get ready for parity

Mr. Lilic outlined that Ethereum (ETH) is showcasing much healthier dynamics than its competitor is. For instance, the flagship cryptocurrency still surpasses Ethereum (ETH) by 6.3x in terms of market capitalization, while simultaneously collecting 20% fewer fees than Ethereum (ETH).

John Lilic of ConSensys foresees parity of Bitcoin (BTC) and Ethereum (ETH) market capitalizations
Image via Twitter

Also, Ethereum (ETH) is demonstrating much more impressive price dynamics this year. It gained almost 37% against Bitcoin (BTC) in 2020. That said, Ethereum (ETH) looks severely undervalued to the top manager of ConsenSys.

However, Ether is on the path to eliminating this discrepancy. Eventually, the top two cryptocurrencies may reach market capitalization parity, concludes Mr. Lilic.

Related Bitcoin (BTC) and Ethereum Have (ETH) Recovered From Black Thursday, Who Else? Coinmetrics Explains
Related
Bitcoin (BTC) and Ethereum Have (ETH) Recovered From Black Thursday, Who Else? Coinmetrics Explains

As covered by U.Today Crypto News recently, Coinmetrics on-chain research team called Bitcoin (BTC) and Ethereum (ETH) the unique crypto behemoths that have managed to recover from Black Thursday.

Bitcoin (BTC) is losing supremacy in "fee race"

Should Ethereum (ETH) overcome its undervaluation, its price may be over $1,550 based on liquid supply and current Bitcoin (BTC) market capitalization.

Recently, it was unveiled that Ethereum (ETH) blockchain continues to surpass Bitcoin (BTC) in terms of network fees for more than 30 days in a row. Ethereum (ETH) is seeing this advantage for the first time in its history.

As U.Today Crypto News reported previously, ex-Messari analyst and angel investor Qiao Wang identifies two main catalysts of Ethereum's (ETH) price run in the mid-term perspective.

Related Ethereum (ETH) Price Two Bullish Signals, According to Investor Qiao Wang
Related
Ethereum (ETH) Price Two Bullish Signals, According to Investor Qiao Wang

According to Wang, the upcoming rally may be fueled by a long-awaited transition to Proof of Stake and fixing the monetary policy of Ether token.

About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)