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

News
Sun, 06/14/2020 - 15:04
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
Cover image via www.instagram.com
Contents

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.

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.)