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Bitcoin (BTC) Whales Move Funds. Analyst Explains Why Bull Run May Start in Three Weeks

News
Mon, 06/22/2020 - 14:19
Vladislav Sopov
Cryptocurrency analyst Ki Young Ju unveils one factor that could influence the Bitcoin (BTC) price in the upcoming weeks. It is related to whale behavior
Bitcoin (BTC) Whales Move Funds. Analyst Explains Why Bull Run May Start in Three Weeks
Cover image via crypto.u.today
Contents

Blockchain analyst Ki Young Ju has studied the behavior of Bitcoin (BTC) whales amidst the ongoing outflow of Bitcoin (BTC) from exchanges. It looks as though his results may give hope to members of the bullish camp.

Whale accumulation detected

Mr. Ki Young Ju researched one of the most aggressive trends of the past weeks in crypto. He witnessed the huge amount of Bitcoin (BTC) outflow from exchange storages.

Analyst reveals the correlation between money movements and Bitcoin price
Image via Twitter

He highlighted that, typically, when bulls are moving Bitcoin (BTC) out of exchanges it means a reliable 'buy' signal for all investors.

It wouldn't take more than four months for bulls to initiate a new rally since another cycle of withdrawals has reached its maximum level. Studying the seven-day moving average of the Bitcoin (BTC) withdrawal amount from 31 exchanges, he figured out that a new bullish trend may be in effect by mid-July, 2020.

However, the mid-March yearly high for this indicator may be unique. It looks like it could be explained by the overall market panic following Black Thursday.

Last accumulation for Bitcoin (BTC)?

Also, the analyst outlined that we should brace ourselves for some ugly red candles or, at least, for a boring 'flat' before the bullish rally.

The bearish market is not as strong as expected, so I think the price will rise again after short-term bear or sideways by the mid of July.

Other experts also announced that Bitcoin (BTC) may be experiencing the final days of its accumulation. For instance, prominent analyst Charles Edwards foresees that a 'Hash Ribbon Buy' sign may occur soon.

Furthermore, he emphasized that it may be the last accumulation phase before a long rally.

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.)