Bitcoin (BTC) Price May Fall to $9,050, but Doesn't Look Bad: Analyst Michael van de Poppe

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Sun, 06/14/2020 - 15:04
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Vladislav Sopov
The last half of June 2020 has witnessed two Bitcoin (BTC) drops, resulting in a combined decline of 12.2%. Even that fact failed to change the overall bullish sentiment.
Bitcoin (BTC) Price May Fall to $9,050, but Doesn't Look Bad: Analyst Michael van de Poppe
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Dutch cryptocurrency analyst and trader Michael van de Poppe shared his views on the price level that Bitcoin (BTC) may revisit before further solid growth.

No Worries Until $9,050

Mr. van de Poppe shared his latest update on Bitcoin's price chart. He indicated two crucial levels of support that will prevent it from tumbling down.

Michael van de Poppe indicated two crucial levels for Bitcoin (BTC) bears
Image via Twitter

He assumes that the price of Bitcoin (BTC) will meet its first support level near its monthly lows, which is slightly above $9,050.  If Bitcoin (BTC) manages to hold on this level, then the upsurge above $9,500 is on cards.

The next support line lies above the local lows that were revisited by Bitcoin (BTC) in late May 2020. So, if the flagship cryptocurrency drops below $8,800, then it is a solid indicator that the bears are control.

All in all, Mr. van de Poppe believes that the Bitcoin (BTC) chart doesn't look bad despite the general direction looking 'indecisive'.

Mid-Term Prospects are also Bullish

At least two prominent Bitcoin (BTC) analysts have published bullish price predictions as well. Vocal Bitcoin (BTC) proponent Jimmy Song is sure that we are still currently in accumulation zone, which is very comfortable for buyers. So, the opportunity to 'buy the dip' shouldn't be missed by the king coin traders.

Jimmy Song indicates no FOMO yet
Image via Twitter

He particularly outlined that Bitcoin (BTC) is failing to enter the FOMO-driven parabolic run. His estimations perfectly resonate with the predictions of another well-known analyst, Crypto Birb (@crypto_birb), Founder of The Birb Nest educational community.

According to his tweet, Bitcoin (BTC) entered another stage of accumulation in early May 2020, and still remains within that range. 

Crypto Birb foresees huge upmove of Bitcoin (BTC) price
Image via Twitter

Due to the fact that this accumulation has lasted for 90 days, the next move for the price of Bitcoin (BTC) will be monstrous, he claims.

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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.)

2,500,000 Ethers Locked in Ethereum 2.0 Deposit Contract as ETH Rejected From $1,250

News
Fri, 01/15/2021 - 18:02
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Vladislav Sopov
Ethereum 2.0 enthusiasts deposited whopping sum in its contract launched six weeks ago
2,500,000 Ethers Locked in Ethereum 2.0 Deposit Contract as ETH Rejected From $1,250
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While crypto markets are trying to get out of the most painful correction in this bullish cycle, the Ethereum 2.0 deposit contract accomplishes another crucial milestone.

ETH2 deposit contract surpasses $3,000,000,000 level

According to leading Ethereum network observer Etherscan, the Ethereum 2.0 deposit contract (0x00000000219ab540356cBB839Cbe05303d7705Fa) allocated more than 2.5 million Ethers. New 32-ETH stakes are transferred to it every minute.

ETH2 deposit contract breaks above $3B
Image by Etherscan

As the correction of the Ethereum (ETH) price ended, ETH is changing hands at $1,225: the $1,250 level was too difficult for bulls to conquer. Meanwhile, even at press time, it is worth almost $40,000 to join the club of Ethereum 2.0 stakers.

Therefore, the USD-denominated value of assets locked in the contract surpassed $3 billion for the first time ever and keeps surging.

It should be noted that Ethereum 2.0’s deposit contract went live on Dec. 1, 2020, heralding the start of ETH2 Pase Zero or Beacon Chain, the inaugural stage of Ethereum 2.0.

Ethereum 2.0 “entry tickets” become really expensive

At press time, more than 52,267 addresses transferred money to the deposit contract.

Ironically, Black Thursday in Crypto (March 13, 2020) was the most convenient time to join Ethereum 2.0 staking with Ether at $95. Today, Ethereum (ETH) enthusiasts should pay 13 times more to have a minimum amount of Ethers required for staking.

Ethereum 2.0 is a proof of stake (PoS) iteration of the Ethereum (ETH) protocol. It replaces mining by staking and splits the whole Ethereum (ETH) network into several interconnected sub-chains (shards).

According to Staking Rewards analytical dashboard, annualized rewards for ETH staking are estimated between 10.4 and 10.6 percent.

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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.)