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Bitcoin (BTC) Price 'Last Accumulation Zone' Indicated by Analyst Charles Edwards

News
Sun, 06/21/2020 - 14:39
Vladislav Sopov
Blockchain analyst Charles Edwards of Capriole Investments, predicts a beautiful 'buy' opportunity for Bitcoin (BTC) traders. His estimations are based on mining data.
Bitcoin (BTC) Price 'Last Accumulation Zone' Indicated by Analyst Charles Edwards
Cover image via twitter.com
Contents

Charles Edwards believes that the Bitcoin (BTC) hash rate statistics are going to print a 'Buy' indicator very soon. However, we are still in the realm of miners' capitulation.

Last Weeks of Capitulation

According to Mr. Edwards, he is utilizing the forecast techniques designed by another top-notch cryptocurrencies analyst Preston Pysh. These estimations are based on the 'crosses' of moving average graphs, which show Bitcoin (BTC) hash rate statistics.

Charles Edwards reports 'Hash Ribbons' Buy indicator
Image via Twitter

According to his prediction, the capitulation period that started during the last days of May will end on June 27, 2020. 

With the buying momentum needing some time to gain steam, the 'Buy' indicator is based on the hash rate dynamics, which may appear a little bit later.

Due to the cyclic nature of Bitcoin's hash rate swings, situations of this type repeat periodically. Yet, this one may be specific. Mr. Edwards outlined that the accumulation in question looks like the previous one 'for a long time'.

Bullish by All Accounts?

It's interesting that the article that made the crypto community familiar with this methodology was already indicated by Mr. Edwards as a crucial period for buyers.

In his 'Hash Ribbons and Bitcoin Bottoms' thesis (published in November 2019), he clearly concluded:

Miner Capitulation doesn’t happen often, on average just once a year. (...) Suggesting we may see yet another wonderful buying opportunity again in mid-2020.

The predictions of Mr. Edwards have a way to fulfilling themselves. It was Capriole Investments' Founder who masterfully figured out the correlation between stocks and Bitcoin (BTC) during the toughest days of Q1 2020.

He is also the author of the Bitcoin Energy Value, a prediction that describes the progress of energy utilization in Bitcoin (BTC) mining. This prediction suggests that the price target of $100,000 for Bitcoin (BTC) is the target for flagship cryptocurrency between 2025-2026.

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
Contents

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.)