Category Archives: Bitcoin
How Bitcoin is coming to Ethereum, again – Decrypt
Bitcoin has been tokenized on the Ethereum blockchain again. This time its interoperability solutions provider Summa and the Keep Network, a privacy layer for Ethereum (ETH), building the token, called tBTC.
On Thursday, it debuted on Ethereums testnet, and amainnet launch is planned in March. The project hopes to bring Bitcoin (BTC) into the Decentralized Finance (DeFi) industry. Could this be the most important project to launch on Ethereum in 2020?
The launch is big news especially for DeFi; tBTC means that Bitcoin holders can now earn interest on lending dapp Compound; get a loan from MakerDAO or a non-collateralized one from Aave; trade or lend on Fulcrum or dYdX; save with Dharma Network or Pool Together, and much more.
Up to now its been a pipe dream, despite several attempts to recreate a trustless way to bring Bitcoin to Ethereum. But tBTC creates a workaround: essentially, a decentralized issuance mechanism between two parties.
This isnt the first version of Bitcoin on Ethereum. But it offers several benefits.
Synthetixs sBTC, a synthetic asset which gives investors exposure to Bitcoins price movements, doesnt allow it to be used in DeFi applications. So, this new token has more potential there.
And a solution such as Wrapped Bitcoin, or wBTC, mandates a user to undergo know-your-customer (KYC) procedures, mint the token from a third party, and doesnt let them hold their own tokens. Instead, tBTC allows users to mint and hold the token themselves, suiting the Ethereum ethos.
tBTC is not the only project working on a solution, others such as Ren Protocol, are also striving to bring Bitcoin to Ethereum in a decentralized way.
But theyll need to be quick. tBTC contracts are currently being audited, leading up to the mainet launch, and there are plans to integrate it into lending platforms like Compound, immediately after. The race is on.
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How Bitcoin is coming to Ethereum, again - Decrypt
Jimmy Nguyen discusses future of sports with Bitcoin SV – CoinGeek
The founding president of the Bitcoin Association Jimmy Nguyen has been discussing the future of sports, and the role Bitcoin SV (BSV) can play in transforming the sports industry, both now and in future.
In an interview with CoinGeek at the Future of Sports event in Moscow, Nguyen said that Bitcoin was the only blockchain ready to handle the needs of the sports industry right now, with the capacity to scale as necessary to respond to demand.
Bitcoin SV is the only blockchain capable of supporting microtransactions at the scale required of the sports industry, which tends to have significant peaks in interest around key global sporting events.
Fixtures like the soccer World Cup, the Olympics and the Super Bowl tend to lead to huge spikes in traffic in concentrated periods of time. According to Nguyen, the scalability of BSV means its the only blockchain ready to respond to these demands today.
Nguyen also spelled out the benefits of an honest public ledger in the sports sector, particularly applicable in sports betting as one obvious use case.
With provably fair records on the blockchain, BSV can deliver honest wins, honest transactions, and provably fair, honest sports betting, improving trust in the betting sector as well as delivering better value for players.
Beyond sports betting, the event also saw topics such as the use of BSV as a platform for anti-doping technology targeting amateur sports, with records recorded and written to the blockchain for independently verifiable, immutable record keeping.
The event also saw discussions on tokenization on BSV, with a number of commercial applications for sports fans.
Nguyen hailed the event as a success, with developers and stakeholders from across Russia and the wider region heading to Moscow in support of BSV.
The event comes at a time of growing interest in BSV globally, with more developers choosing bitcoin for developing blockchain apps.
The Future of Sports conference took place on February 14, with speakers including Toli Makris from Ex Sports, Joachim Thumfahrt on behalf of the UAE government, and representatives from global soccer team Tottenham Hotspur FC.
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Jimmy Nguyen discusses future of sports with Bitcoin SV - CoinGeek
How Bitcoin Optech Is Connecting the Open-Source and Corporate Worlds – Bitcoin Magazine
Bitcoin Core and other open-source projects have, over the years, built a range of technologies to improve Bitcoin scaling and the general Bitcoin user experience. With examples including Segregated Witness (SegWit), Replace-By-Fee and the Lightning Network, Bitcoin users have a number of tools at their disposal to utilize the Bitcoin blockchain as best and efficiently as possible.
Yet, bigger companies in particular have historically been slow to adopt such tools. Segregated Witness is a prime example: Several of the largest Bitcoin businesses hadnt adopted the upgrade for over a year after it was activated on the Bitcoin network in August 2017. The total share of SegWit transactions even remained below 50 percent until the second half of 2019.
This was also noticed by John Newbery, engineer at Chaincode Labs; Steve Lee, former Google product director turned product manager at Square Crypto; and James OBeirne, former Chaincode engineer who recently joined DG Lab. Seeing this and other discrepancies, they wanted to help resolve the apparent disconnect. In mid-2018, the trio founded an initiative to bridge the gap: Bitcoin Optech.
Bitcoin is the most mature blockchain, and even though its been around the longest, theres still a lot of inefficiencies with the usage of the blockchain, and it is a scarce resource, Lee explained, as he announced the project at the Distributed 2018 conference in July 2018. Thats really what were focused on, helping various actors in the ecosystem to figure out how to best do that.
The initiative would consist of several projects united under the Bitcoin Optech umbrella.
The first of these projects is a series of workshops, bringing open-source developers and engineers at Bitcoin companies together to discuss relevant technologies in person. These workshops offer technical knowledge to all the participants, while also bringing together different parts of the Bitcoin ecosystem to hopefully help further cooperation parts that sometimes have different perspectives on the industry, with open-source developers and Bitcoin companies occasionally finding themselves in conflict with one another.
Bringing people together and having face-to-face meetings is really beneficial, it helps foster a more collaborative ecosystem, Newbery explained during the same Distributed 2018 announcement. On a purely technical level, having that experience feedback from engineers actually doing work on the ground, back to the open-source community makes those open-source projects better, and having information going from the open-source community into these companies lets those companies use better technology.
The first Bitcoin Optech workshop took place in San Francisco in July 2018. Fourteen engineers from Square, Coinbase, BitGo, Purse, Xapo and Ledger discussed topics including coin selection, fee estimation and Replace-By-Fee, as well more general topics like establishment of the Bitcoin Optech initiative itself and communication between the different parts of the Bitcoin ecosystem.
The initiative has grown significantly since then. A second workshop was organized in Paris (November 2018), followed by another event in San Francisco and one in New York (both in September 2019). The fifth and most recent workshop took place in London on February 5, 2020. Bitcoin Optech today counts 24 member companies who support the initiative financially, including the likes of Bitstamp, Kraken, Casa, OKcoin, Bitrefill and others. The vast majority of member companies also participated in at least one of the workshops.
The Bitcoin Optech team itself has grown as well. Although OBeirne stopped contributing after 2018, Blockstreams product manager Mike Schmidt, Chaincode Labs associate Adam Jonas and Chaincode Labs engineer Carl Dong have been taking on various organizational roles within the initiative.
I think Bitcoin Optech has grown to be a trusted voice on technical Bitcoin matters and continues to highlight ways in which users and businesses can make more efficient use of the blockchain, Newbery told Bitcoin Magazine, reflecting on the 20 months since the initiative got off the ground.
The Bitcoin Optech newsletter is the second big project under the Bitcoin Optech umbrella. Produced by technical writer David Harding and counting 84 editions at the time of writing, the newsletter continues to accumulate a wealth of information, containing high-quality technical documentation and offering an ongoing overview of developments across Bitcoin and Lightning implementations.
Among the more notable efforts carried out through the newsletter, Harding wrote a 24(!)-part series on bech32 sending support, encouraging wallet providers and companies to implement the option to send funds to bech32 addresses, the address format introduced in Bitcoin Core 0.16.0. With bech32, users can fully utilize the extra blockspace offered by SegWit and enjoy a number of other benefits. Nineteen of the 23 popular wallets integrated this option, while four of them even generated bech32 receiving addresses by default though it is, of course, hard to say how much of this was due to the series specifically.
Other projects under the Bitcoin Optech umbrella include a dashboard with detailed statistics and adoption metrics on a range of technologies; compatibility matrices with overviews of SegWit and Replace-By-Fee support across different wallets; and the Scaling Cookbook, a technical document for scaling technologies for engineers and businesses. Bitcoin Optech also offers a broad overview on Bitcoin-related technical topics, which has grown to become a go-to resource for many.
Perhaps at least as important, Bitcoin Optech has probably helped heal a rift caused by the years-long scaling dispute. Having started with nothing but an idea midway through 2018, and helped by seed money from Xapo founder Wences Casares, venture capitalist John Pfeffer and Chaincode Labs co-founder Alex Morcos, Bitcoin Optechs focus on technical solutions may well have been instrumental in aligning different parts of the Bitcoin ecosystem.
I think it is going very well and exceeding our expectations in terms of company engagement and impact the workshop content and newsletter has, Lee told Bitcoin Magazine. It is hard to say how much actual adoption of various optimizations is due to Optech, but at minimum I think Optech has helped the post-SegWit2X healing process, and given businesses better insight into how the open source developers and process work.
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How Bitcoin Optech Is Connecting the Open-Source and Corporate Worlds - Bitcoin Magazine
Bitcoin Price Has Set $8.2K Floor, $100K Coming Before 2022 Analyst – Cointelegraph
Bitcoin (BTC) may dip below its 200-week moving average price but will stay above $8,200, one of the industrys most respected analysts has said.
In a series of tweets on Feb. 10, PlanB, creator of the stock-to-flow Bitcoin price forecasting tool, also predicts BTC/USD would trade above $10,000 by May.
This is around the date of Bitcoins block reward halving, which would kick off the bull run sending the cryptocurrency to $100,000 before December 2021.
PlanB released the predictions describing them as his 2 sats on Bitcoin price. In a previous update in January 2019, he claimed BTC/USD would stay above its 200-week moving average (200WMA), which historically had always grown.
As Cointelegraph reported, that 200WMA growth rate was 3% in December last year, while now, it has increased to around 4%.
Bitcoin price stock-to-flow forecast as of January 2019. Source: PlanB/ Twitter
At present, Bitcoin hovering at just below $10,000 means it is around 14% higher than the $8,600 level that stock-to-flow dictates.
Bitcoin price stock-to-flow multiple as of Feb. 10. Source: S2F Multiple/ Twitter
This month, traders continue to air concerns about a price correction to $6,000 or even lower. Others rebutted the idea, with veteran market participant Peter Brandt likewise arguing BTC/USD was not destined to drop significantly.
Stock-to-flow uses two indicators to chart Bitcoins price trajectory: the number of Bitcoins already available versus the number of new Bitcoins added to circulation.
Historically highly accurate, the model puts Bitcoin on par with gold in terms of its status as hard money with a supply that is virtually impossible to manipulate, unlike fiat currency.
In the long term, PlanB expects BTC/USD to trade at an average of $100,000 between 2021 and 2024. After that, however, fiat weakness may reach such an extent that Bitcoin appreciates to a factor of $100,000, at which point stock-to-flow would ironically become less useful.
In the meantime, PlanB disputed criticism about the impact of Mays block reward halving on price. Responding to a debate which included analyst and researcher, Nic Carter, he argued that the relationship between stock-to-flow and price was verifiable by anyone.
The effect of a certain cause can be lagged. It is unscientific to claim that the halving effect must occur in 1 day, he explained.
It is simple: S2F (and thus halving) and price are correlated. And this correlation is not spurious because cointegrated. Anyone can verify this.
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Bitcoin Price Has Set $8.2K Floor, $100K Coming Before 2022 Analyst - Cointelegraph
Bitcoin Is Roaring Toward $10,000 But Its Being Wrecked By These Other Cryptos – Forbes
Bitcoin has come to within touching distance of $10,000 this week, reaching its highest since October last year, but has failed to step over the key threshold.
The bitcoin price has climbed by almost 40% so far this year, reaching $9,780 per bitcoin on the Luxembourg-based exchange Bitstamp yesterday, as traders and investors eagerly look towards May's upcoming halving eventamongst other developments.
However, the bitcoin price is being handily outpaced by almost every other major cryptocurrency so far this yearwith some clocking three-digit percentage gains in the first few weeks of 2020.
Bitcoin and cryptocurrency traders and investors have had the best start to a new year since 2013, ... [+] but many remain nervous the latest rally could come to an abrupt end.
Among the top ten biggest cryptocurrencies by value, bitcoin SV, an offshoot of bitcoin cash, which is itself an offshoot of the original bitcoin, has recorded the sharpest rise so far this year, rising 209%.
Bitcoin SV, which broke away from bitcoin cash in 2018 and is controlled by the controversial Australian computer scientist Craig Wright, rocketed higher last month following reports Wright has acquired documents that might help prove he had a hand in bitcoin's creation a little over 10 years ago.
The claim has been widely ridiculed by the bitcoin and cryptocurrency community and Wright has so far failed to backup his claims.
Bitcoin cash is, meanwhile, up 113%.
"While prices appear to be increasing and substantial growth is happening in terms of institutional product offerings and regulatory clarity, there are still significant unknowns hovering over the market at large," researchers at bitcoin and crypto trading platform SFOX said this week, leaving their market outlook at "neutral."
Bitcoin remains the prime cryptocurrency market mover, however, with its dominance, a measure of bitcoin's value compared to the wider crypto market, at 64.2%up from just over 50% in February 2019.
"Its not clear whether bitcoin will function as a safe haven in coming geopolitical turmoil; its not clear how much institutional appetite is actually there for all the institutional crypto offerings being launched; and its not clear what impact the upcoming bitcoin block reward halving, just four months away, will have on the price of bitcoin," SFOX analysts added.
All other top ten cryptocurrencies, excluding stablecoin tether, have also risen even further than bitcoin so far this year.
The second most valuable cryptocurrency, ethereum, is up 60%, while the third, Ripple's XRP, is up 47%.
Ripple's chief executive Brad Garlinghouse marked XRP's year-to-date performance, tweeting his annoyance at former billionaire hedge fund manager-turned-bitcoin and crypto investor Mike Novogratz's suggestion XRP will have another lackluster year in 2020, asking for a "factcheck."
Ripple's XRP lost 46% of its value last year.
Despite bitcoin's recent rally, the price has a long way to go to reach last year's high of around ... [+] $14,000 per bitcoin.
Elsewhere, litecoin, known as the silver to bitcoin's gold, is up 78%, with ethereum-rival EOS adding 77% so far in 2020.
Rounding out the top ten, binance coin, cardano, and tezos are up 43%, 87%, and 62% respectively.
Further down the rankings, top 20 cryptocurrency dash, which has found a niche as a payments alternative in South America, has climbed 195%.
Stellar, up 56%, tron, up 53%, monero, up 77%, chainlink, 61%, iota, up 113%, and neo, up 50%, have also all outperformed bitcoin this year.
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Bitcoin Is Roaring Toward $10,000 But Its Being Wrecked By These Other Cryptos - Forbes
The US government lost $1.7 billion by selling Bitcoin too early – The Next Web
The United Statesis likely to have missed out on around $1.7billion by auctioning off seizedBitcoin BTC way too soon.
Using back-dated market rates, cryptocurrency enthusiast Jameson Lopp built a handy portal to estimate the amount of money those sales have generated since 2014.
US authorities have seized 185,230 BTC through criminal investigations between 2014 and now, including anauction for 3,813 BTC that runs throughout February.
Lets say, though, that the US Marshals held ontoall of the Bitcoinseized over the past six years. Pretend they smartly sold them yesterday when the price of BTC hit $10,000 once more they wouldve netted a groin-thumping $1.85 billion.
Instead, Hard Fork re-ran Lopps numbers to gauge the approximate price of each BTC auctioned by the US Marshals. As it turns out, its probable theyve sold Bitcoins for just $818 each, on average.
So,Bitcoin sold by the US Marshals has earned them roughly $151 million, according to Lopps portal. If this is the case, it would indeed mean the US government has short-changed itself roughly $1.7 billion by refusing to hold.
UK police are also in the business of auctioning criminally-seized cryptocurrency, having conducted BTC auctions for the first time late last year.
In September, Hard Fork reported that Wilsons Auctions sold Bitcoin on behalf of the Crown to generate $369,000. On average, 1 BTC sold for $8,365, 0.5 BTC for $4,236, and 0.25 BTC for $2,426.
At the time, Bitcoin traded on cryptocurrency exchanges for a little over $8,000, which means the UK generally finalized those auctions at above market rates.
Bulgarias government however appears to do it better than both the US and the UK, which had been long-rumored to be sitting on 200,000 BTC ($2 billion) seized from criminals.
Eventually, local media reports indicated the full amount of cryptocurrency was actually sold to several sovereign wealth funds and Asian investors for around $16,000 each, which is a helluva lot more than $818.
Published February 10, 2020 16:51 UTC
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The US government lost $1.7 billion by selling Bitcoin too early - The Next Web
Bitcoin Takes a Dive After the Longest Daily Winning Run Since September – Coindesk
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Bitcoin is feeling the pull of gravity at press time, despite having confirmed its longest daily winning streak since September on Sunday.
The top cryptocurrency by market value dropped from $10,197 to $9,732 during the Asian trading hours and is currently trading at $9,850, according to CoinDesk's Bitcoin Price Index.
Thesharp pullback has blanketed Sunday's ascent from $9,900 to $10,180 and is suggestingbullish exhaustion.
Bitcoinclosed out (UTC) Sunday with a 2.75 percent gain, having risen by 5, 1.4, 0.5 and1 percent on Wednesday, Thursday, Friday and Saturday, respectively.
That is the longest daily winning streak in five months, as seen below.
Bitcoin produced five straight green candles (days with net gains) from Aug. 30 to Sept. 3, marking a convincing move higher from $9,350 to $10,783. The rally, however, ended up recharging bears' engines for a deeper slide.
The latest winning streak is preceded by a sharp rise from lows near $6,850 observed in early January. Such solid rallies are often followed by corrections.
Bitcoin could soon test dip demand by revisiting deeper support levels.
Daily chart
Bitcoin ended Sunday with a green "marubozu" candle, which comprises a strong body and small or no wicks. It indicates buyers were in control from the open to the close, and is reflective of strong bullish sentiment.
So far, however, the followthrough has been negative. In fact, today's red candle has already engulfed Sunday's bullish marubozu.
A failed bullish marubozu at multi-month highs, or after notable price rallies, often precedes a deeper pullback.
So, a slide to the former resistance-turned-support at $9,586 (Nov. 4 high) cannot be ruled out. A violation there would expose the Jan. 19 high of $9,188 and the Feb. 4 low of $9,075. The short-term outlook would turn bearish if prices find acceptance below $9,075, invalidating the higher-lows setup.
If the support at $9,586 holds ground, the bulls will likely once more target the Oct. 26 high of $10,350.
Hourly chart
Bitcoin has lost its upward trajectory, as indicated by the downside break of the ascending trendline.
Theongoing drop looks to have legs as it is backed by an uptick in selling volume,as represented by red bars.
The case for a deeper pullback to $9,586 would be invalidated if prices rise above $10,010 with strong volumes, invalidating the lower-highs setup on the hourly chart.
Disclosure:The author holds no cryptocurrency at the time of writing
The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
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Bitcoin Takes a Dive After the Longest Daily Winning Run Since September - Coindesk
A major crypto scams Bitcoin is moving and if history repeats, it may start a correction – CryptoSlate
A Chinese multi-billion dollar scam known as PlusToken is moving their holdings of Bitcoin once again. In 2019, when the price of BTC dropped to the $6,000s, analysts attributed the fall to the dumping of funds by the fraud.
Throughout 2019, venture capital investor Dovey Wan said that the Chinese scam had a significant impact on the Bitcoin price. She argued that it could have been the main catalyst for both the bull and the bear market that occurred during the year.
The amount of Bitcoin that is allegedly being moved by the individuals behind the scam amount to about $117 million.
For a market that processes billions of dollars in daily trading volume, even if the fraudsters dumped the entire 10,000 Bitcoin stack onto the market, it should not have a severe impact on prices. The problem is that most of the volume of Bitcoin on paper are highly leveraged and are derived from major margin trading platforms like BitMEX.
Whales, who have control of large amounts of bitcoin, criticized the recent upsurge of bitcoin from the $8,000s to $10,000, describing it as manipulated.
If the entire rally was based on highly leveraged buy orders and spoof orders, the upside movement is likely still treading on a weak footing. In such an environment, an abrupt dump of over $100+ million in Bitcoin could have a severe impact on the market.
A major whale on Bitfinex that trades tens of millions of dollars in volume wrote:
OTC, I have fairly good visibility into. Many of them Asian/Chinese as most Chinese trading is OTC nowadays. There was some pick-up in inflows before Chinese New Year but not enough to justify the latest PA. Yes, the move is driven by Chinese players. Their motives are murky atm.
Simply put, a market sell of $117 million is not enough to singlehandedly trigger a steep pullback in the Bitcoin market. However, when it is combined with the fact that the recent upsurge has seen a lack of fiat inflow in both spot and over-the-counter (OTC) markets, it could cause an issue for the market.
Currently, on higher time frames like the 3-day chart, the bitcoin price is under a heavy level of resistance at $9,975.
The $9,975 level has also been a level of multi-year resistance dating back to 2018, leaving some traders cautious for a major pullback in the short-term. With Bitcoin having traded above $10,000 for only about 24 hours in total this year, it remains to be seen where the price of Bitcoin will go in the short-term.
The Bitcoin reward halving in May is still considered to be a key variable for the dominant cryptocurrency, and there are hopes that it would act as a much-needed catalyst to help BTC breakthrough major resistances at $9,975 and $10,500.
Bitcoin, currently ranked #1 by market cap, is down 0.26% over the past 24 hours. BTC has a market cap of $178.31B with a 24 hour volume of $34.24B.
Chart by CryptoCompare
Bitcoin is down 0.26% over the past 24 hours.
Bitcoin Price Hits $10,000 for the First Time in 2020 Up 40% YTD – Cointelegraph
Bitcoin (BTC) briefly hit $10,000 on Feb. 9, capping a momentous first month of 2020 to reach its highest level since October last year.
Crypto market weekly price chart. Source: Coin360
Data from Coinbase exchange and Cointelegraph Markets showed that shortly after 3:00 a.m. UTC BTC/USD moved to $10,000 on a high volume spike but the digital asset quickly pulled back to $9,975. The feat of reclaiming five figures occurred after a nearly four-month absence.
During that time, the pair traded as low as $6,400 before an abrupt bullish turnaround saw January alone deliver gains of 35%.
The move to the symbolic $10,000 level was preceded by Bitcoin futures markets, which briefly entered the zone on Feb. 6.
Traders had been primed to expect a strong directional move, with Cointelegraph Markets analyst filbfilb identifying $9,550 as likely support.
Fellow analyst Mati Greenspan added:
This isn't the first time bitcoin has been valued above $10,000 and it might not be the last, but it is the first time that the valuation is justifiable based on fundamentals of the network.
Bitcoin weekly price chart. Source: Coin360
Currently, the overall cryptocurrency market cap now stands at $283.9 billion, with Bitcoins dominance rate is 63.5%. A handful of major altcoins mirrored Bitcoins success, with Ether (ETH) rising 2.27% to pass $225, EOS rallying 8.27% and Bitcoin SV (BSV) reaching $365.14 on the back of a 24.24% daily gain.
Earlier in the week, many tokens repeatedly put in a solid performance for investors, with daily gains for some topping 25%.
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Bitcoin Price Hits $10,000 for the First Time in 2020 Up 40% YTD - Cointelegraph
Where to Buy the Dip in Bitcoin [BTC] below $10k? Price Analysts Suggest – Coingape
Bitcoin [BTC] price drops by $500 from the its highs as the bullish run cools-off. At 5: 00 hours UTC on 11th February is trading at $9740.Nevertheless, as the trend remains bullish traders are looking to buy the dip.
On the 4-hour chart, the 50-EMA (Exponential Moving Average) is acting as support at the moment.
The funding rate rose to highs around 6% (daily) on BitMEX with rising long interest. However, the drop in the last few hours has brought it back to levels around 1.2%. The interest to buy a lower dip and short orders are beginning to rise.
The bullish senitments is, however, still active.As reported yesterday on CoinGape, traders continue to look around the $9,400-9,600 area to buy. Prominent derivatives and crypto trader, SC, tweeted on similar lines,
Looking for some bids in the red if we get it. $BTC
Another prominent trader, Zoran Kole suggested similar levels for buy orders based on the CME Bitcoin futures chart. He tweeted,
$BTC Update: 1d CME e2e completed on the money. Already filled the gap down to 95xx. I believe this is foreshadowing for spot. I like 94-95xx for re-entry with stops below 9050. #crypto
The weekend bullish cap around $9500 was filled quickly with Mondays correction. The stop equivalent of 94-95xx entry on CME will be around $92-93xx.
In the recent update on planning swing trades, chart analyst, Sawcruhteez looks for ultimate support around the 200-Day EMA ($8300) where he looks to go All-in longs. Nevertheless, outlines the second approach to see this dip reverse from above $9k. He tweeted,
There are two separate approaches and the first one outlines exactly why I am layering bids from $9,200 $9,600. $BTCtradingview.com/chart/BTCUSD/a
Do you think Bitcoin could could go back to $8k levels? Please share your views with us.
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Where to 'Buy the Dip' in Bitcoin [BTC] below $10k? Price Analysts Suggest
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Bitcoin [BTC] price drops by $500 from the its' highs as the bullish run cools-off. Nevertheless, as the trend remains bullish traders are looking to 'buy the dip'.
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Nivesh Rustgi
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CoinGape
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Where to Buy the Dip in Bitcoin [BTC] below $10k? Price Analysts Suggest - Coingape