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Bitcoin’s [BTC] next market peak will surge higher than December 2017 high: Researcher

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Bitcoin’s [BTC] next market peak will surge higher than December 2017 high: Researcher
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Bitcoin [BTC] has reinvigorated the hopes of cryptocurrency proponents through its recent price rally. The coin’s unexpected ascendance over $5,000 has caused several researchers to mull the future market and infrastructure prospects of the collective industry, one among them is Seeking Alpha’s Victor Dergunov.

Following what many have claimed to be the breaking of the “Bitcoin Bottom,” Dergunov contends that this is the best time to get into Bitcoin as the price will skyrocket. The crypto-winter has passed, in his opinion, with the coin trading at a 40 percent incline against its December 2018 low.

Given the upcoming price surges and possibly a crypto-spring, investors will stand to gain a substantial amount. Dergunov added that this will be “an excellent time to build exposure to Bitcoin.”

He said that the most recent price pump is an indication of things to come, with several technical similarities being drawn between this rally and previous bull-runs. Furthermore, Dergunov stated that this rally is likely the “beginning of Bitcoin’s next bull market.”

Several comparisons have been drawn with Bitcoin’s April 1 upswing and the remarkable December 2017 bull-run which saw the king coin almost touch $20,000. In Dergunov’s opinion, if the current bulls continue to reign, the $20,000 ceiling could be broken.

In his own words:

“If we look at a long-term chart of Bitcoin we can see a clear pattern of bull cycles turning into bear cycles and vice versa. Nevertheless, we can see that in each wave, as Bitcoin’s popularity gains more momentum, the bull market peak is always significantly higher than the previous one.”

The analyst further pointed out that several indications reveal a bullish swing for the market. He specified the increasing daily transactions and hash rate, which indicated long-term bullish movement.

In comparison with the larger fiat market, Bitcoin’s market capitalization of $90 billion is fairly minuscule. However, if adoption increases and fiat is chided for its virtual equivalent, the potential users that will come into the digital assets realm will shoot up BTC’s price.

He added:



“Currently, only about 0.56% of potential users have exposure to Bitcoin, which implies nearly 99.5% of the potential market is still untapped.”

Additionally, one of the main tenets of the decentralized currency market, being unable to be controlled by a single entity, will pose as an attractive factor for its adoption in the future. As financial fractures rupture global economies, many will turn to cryptocurrencies as a savior currency, states Dergunov.

He concluded:

“Bitcoin and other digital assets act as alternative currencies and payment systems relative to the current fiat financial status quo.”





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XRP

Has XRP decoupled from Bitcoin? Is it due to immense pressure from manipulators?

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Hash XRP decoupled from Bitcoin? Is it due to immense pressure from manipulators?
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Opinion: Bitcoin, the first cryptocurrency, has had over ten years to grow. However, other altcoins did not have the liberty, due to which Bitcoin exerts its dominance over almost all altcoins in the ecosystem, be it Ethereum, XRP, or Cardano. The price of altcoins generally tends to rise if Bitcoin’s price surges rapidly. The same can be said about the downtrend as well, which is why altcoins are said to be coupled with Bitcoin.

However, the recent buzz on crypto-twitter is that XRP is on the verge of decoupling from Bitcoin. A Twitter user @XRPMOONSHINE tweeted:

“DO ME A FAVOR OPEN UP A BTC/USD CHART AND AN XRP/USD CHART. THEY HAVE DECOUPLED AND ARE MOVING DIFFERENTLY.”

In a very general sense, the comparison of the price change of XRP and BTC gives a crude understanding of whether the prices have actually decoupled or not. Hence, the daily chart attached below shows the price of BTC and XRP against the US Dollar and extends from August 2018 to April 2019. The price of XRP seems to be following a lag from the price of BTC and do not necessarily mean that it has decoupled.

However, there are timeframes where the price of XRP has moved completely unrelated to that of Bitcoin. For example, the meteoric rise of XRP from September 18 to 22 was far higher than the price pump of BTC over the similar timeframe; but the drop of XRP from November 18 to December 16 was exactly the same as that of BTC’s.

Furthermore, XRPMOONSHINE suggested that XRP price was being manipulated. He tweeted:

“It is being manipulated to keep it from rising. For example look at XRP/BTC pair. Keeping it under the down sloping resistance from .80 in September. Thats what I mean by Suppressed, Although im expecting a fairly large move to the upside before 4/24/19.”

The “idea” of the price of XRP being manipulated is not unpopular within the XRP ecosystem as Peter Brandt, a famed trader, suggested the same in one of his tweets.

Brandt tweeted:



Conclusion

XRP may have started to decouple from Bitcoin, but it surely hasn’t decoupled completely. The notion that XRP is being manipulated to keep its price below certain levels can also not be confirmed without proof.





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