3 Reasons Why Bakkt’s September Launch Is Bullish for Bitcoin

Bakkt is a platform for institutional investors and anyone else to buy bitcoin through its legally compliant system. | Source: Shutterstock By CCN Markets: Most cryptocurrency enthusiasts have been waiting for the launch of bitcoin futures trading platform Bakkt. Recently, the crypto community rejoiced as the ICE-operated company announced the official launch date of Sept. 23. Within 48 hours after the big reveal, bitcoin surged by 10 percent. Many investors know that the entry of Bakkt in the cryptocurrency space is bullish for the long-term health of bitcoin. However, very…

Bitcoin Price Bullish Wedge Forms Pointing to $11K, Says Trader

Bitcoin (BTC) price was returning to bullish form on Aug. 19 as markets look to break out from last week’s sideways trading.  Market visualization. Source: Coin360 Bitcoin price builds on $10K support Data from Coin360 revealed Bitcoin challenging $11,000 in morning trading as Monday delivered almost 5% gains. Markets appeared to be reacting to news cryptocurrency exchange Binance was planning to release its own version of Facebook’s Libra digital currency, in what is also a direct response to China’s central bank. At press time, BTC/USD was circling $10,650, capping daily…

Bitcoin Price Bounces Back to $10K on Fresh Bullish Sentiment

Bitcoin (BTC) price regained $10,000 Aug. 15 restoring investor confidence just hours after touching a higher low of $9,500 compared to the $9,3000 dip in late July.  Bitcoin price embraces five figures Data from Coin360 shows BTC/USD put in a sudden rally on Thursday, gaining more than 5% in hours and subsequently holding onto support above $10,000.  Bitcoin 24-hour price chart. Source: Coin360 The latest break to the upside reinforced an already positive mood among traders and analysts, who earlier recommended not treating Bitcoin’s dip to four figures as proof…

Bitcoin Price Below $10K But Trend Stays Bullish, Says Veteran Trader

Bitcoin (BTC) price dropped below $10,000 Aug. 15 as another day of losses sent the largest cryptocurrency back to four figures.  Market visualization. Source: Coin360 Analysts shake off bearish Bitcoin signals Data from Coin360 tracked Bitcoin’s decline through Thursday, which followed a previous day’s downward momentum. In total over the past 48 hours, BTC/USD has fallen around 15%. At press time, support at $9,500 appeared intact, with markets bouncing off those levels to trade around $9,800.  Bitcoin 7-day price chart. Source: Coin360 Bitcoin price had shown signs of a fresh…

Goldman Sachs Gets Bullish on Bitcoin With a Price Target of $13,971

In a note to customers, Goldman Sachs gave a bullish forecast for Bitcoin price. Shared on Twitter, Aug. 11, the note suggests a short-term target of $13,971. Bullish analysis based on Elliott Waves The target given is based on Elliott Wave Theory, which forecasts market trends by identifying extremes in investor psychology, along with price highs and lows. According to the analyst, Bitcoin will rebound from support around $11,094, leaving room for at least one leg higher towards $12,916 and $13,971. This could complete a V wave count from July,…

Multiple Metrics Make the Bullish Case for Bitcoin

Bitcoin (BTC) remains bullish and a multitude of metrics support this claim.  Is this a trend reversal?  Over the past week investors’ short-term sentiments about Bitcoin’s prospects appear to have improved. While last week’s market update made the case for why top investors and analysts are overwhelmingly bullish on Bitcoin’s predicted long-term price action, the fall from $13,800 to $9,100 did shake retail investors confidence for the short term.  Prior resistance levels that were obliterated throughout Bitcoin’s ascension from $4,000 to $13,800 proved to be weak support and many investors…

“Golden” Bullish Bitcoin Price Signal: Are 5000% BTC Gains Ahead?

While 2018 was most certainly a bear market for Bitcoin and crypto assets, 2019 has been mostly a bull market or at least the beginning stages of one. The latest in the growing list of signs the leading crypto asset by market cap is building a bullish foundation and will rise to new all-time highs, is a “golden cross” on three-day Bitcoin price charts. The last time this occurred, was in February 2016, and from there, Bitcoin went on to bring investors a 4,900% return on investment. Could the same…

Bitcoin Price (BTC/USD) Signaling Bullish Acceleration Above $10,500

Bitcoin price traded higher and broke the key $10,200 resistance area against the US Dollar. The price is placed nicely above the $10,200 level and it recently tested the $10,500 area. There is a major bullish trend line forming with support near $10,200 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price remains in an uptrend and it may soon accelerate above the $10,500 resistance level. There were decent gains in bitcoin price above $10,200 against the US Dollar. BTC price is likely preparing for…

Bitcoin Price (BTC/USD) Signaling Bullish Continuation To $10,200

Bitcoin price formed a solid support near the $9,200 level and recently recovered against the US Dollar. The price is trading nicely above $9,500 and it recently tested the $9,770 level. There is a short term contracting triangle forming with resistance near $9,750 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price is likely to continue higher once it clears the $9,750 and $9,800 resistance levels. In the past few hours, bitcoin price recovered above $9,500 against the US Dollar. BTC price is showing positive…

3 Reasons Analysts Are Bullish on Bitcoin Despite 33% Price Correction

As Bitcoin dropped an additional 8% on Saturday, naysayers claim the rally to a new all-time high is over. So what is it that’s keeping market analysts bullish in the face of a 33 percent correction?  Bitcoin price bears draw a line at $10,000 Bitcoin’s most recent price action has been less than satisfactory, unless you’re a bear. To date, the top digital asset is down 32% from it’s 2019 high of $13,739 and short term price action remains overwhelmingly bearish.  Over the past two weeks Bitcoin formed an M-top…