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Bitcoin (BTC) Price’s Two Possible Moves Indicated by Seasoned Trader

News
Sat, 06/06/2020 - 15:03
Vladislav Sopov
Famous cryptocurrencies trader, analyst, and educationist Crypto Birb indicated two possible moves for the price of Bitcoin (BTC) in a one-day timeframe.
Bitcoin (BTC) Price’s Two Possible Moves Indicated by Seasoned Trader
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Contents

Crypto Birb, Founder of The Birb Nest trading community, unveiled a 1D Bitcoin (BTC) price chart with two possible behaviors. He also showed the conditions of the two scenarios and their most reasonable targets.

All Eyes on 50-Day MA

According to the analyst, the price level of 50-day moving average (50-day MA) is a crucial hold the bulls. If the price of Bitcoin (BTC) breaks below this line, an additional drop to $7,518 looks inevitable.

$7,518 is the most natural level of support below 50MA for Bitcoin (BTC) price
Image via Twitter

A declining Bitcoin (BTC) price, which is on its way to $7,518, may also find a support near $9,000 and then near $8,500. Reaching this dramatic level would indicate the start of new upswing.

However, if the bulls manage to make the price of Bitcoin (BTC) break the upper border of ascending channel near $10,500, BTC could reach yearly high above $12,000 in early July.

The $11,000 level is the level of bearish resistance, which would not be conquered easily by an aggression of buyers.

Flat After 'Bart Simpson' Rally

Right now, the price of Bitcoin (BTC) is trying to break out of the Ascending Triangle that evolved between the $9,600 and $9,800 levels. Market sentiment is mostly moderately bullish.

Alternative's Crypto Fear and Greed Index sits at 54 points ('Neutral Zone'). The fake rally of June 1, 2020 failed to stop its upswing.

As previously reported by U.Today, Bitcoin (BTC) surged almost 8.6% on June 1st, 2020, but a massive sell-off on the spot exchanges half a day later completely erased these gains.

At press time, the price of Bitcoin (BTC) changed hands at $9,660 on the major spot cryptocurrency exchange platforms.

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
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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.)