Tag: Dollar

What will cryptocurrency market look like in 2027? Here are 5 predictions
Blockchain News

What will cryptocurrency market look like in 2027? Here are 5 predictions

The year is 2027. It’s a time of great innovation and technological advancement, but also a time of chaos. What will the crypto market look like in 2027? (For those unfamiliar, that's a line from the 2011 video game, Deus Ex.)Long-term predictions are notoriously difficult to make, but they are good thought experiments. One year is too short a period for fundamental changes, but five years is just enough for everything to change.Here are the most unexpected and outrageous events that could happen over the next five years.1. The metaverse will not riseThe metaverse is a hot topic, but most people do not have even the slightest idea of what it actually comprises. The metaverse is a holistic virtual world that exists on an ongoing basis (without pauses or resets), works in...
Best monthly gains since October 2021 — 5 things to know in Bitcoin this week
Bitcoin

Best monthly gains since October 2021 — 5 things to know in Bitcoin this week

Bitcoin (BTC) starts a new week and a new month on a cautiously positive footing after protecting crucial levels.After an intense July in which macro factors provided significant volatility, BTC price action managed to provide both a weekly and monthly candle favoring the bulls.The road to some form of recovery continues, and at some points in recent weeks, it seemed like Bitcoin would suffer even harder on the back of June’s 40% losses.Now, however, there is already a sense of optimism among analysts, but one thing remains clear — this “bear market rally” does not mean the end of the tunnel yet.As Summer 2022 enters its final month, Cointelegraph takes a look at the potential market triggers at play for Bitcoin as it lingers near its highest levels since mid-June.Spot price snatches back ...
Critic of Bitcoin’s ‘one-percenters’ still positive about future of digital assets
Blockchain News

Critic of Bitcoin’s ‘one-percenters’ still positive about future of digital assets

A future without digital assets is hardly imaginable but Bitcoin (BTC) is far from being perfect by design, according to a finance professor at the London School of Economics (LSE).LSE financial professor Igor Makarov believes that digital money and digassets will undoubtedly be part of the future of finance and their efficiency will depend much on their design.In an interview with Cointelegraph, Makarov said that there has not been much evidence that Bitcoin can become a store of value as it has been extremely volatile over the past 10 years.Since Bitcoin’s volatility remains high despite its massive rise in value and increased liquidity, there is no guarantee that its price will become more stable one day, he said.“Without any government backing Bitcoin, the cryptocurrency’s value depend...
Bitcoin traders eye levels to hold as ‘decision time’ looms for BTC price
Bitcoin

Bitcoin traders eye levels to hold as ‘decision time’ looms for BTC price

Bitcoin (BTC) recovered above $23,000 on July 22 as attention increasingly focused on the upcoming weekly close.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBTC price needs to preserve at least $22,400Data from Cointelegraph Markets Pro and TradingView showed BTC/USD finding renewed strength after briefly dipping toward $22,000.The pair traded in a critical zone for bulls on the day, with the 50-day and 200-week moving averages (MAs) still yet to flip from resistance to support. Analysts were holding out for the weekly candle close to determine the strength of Bitcoin’s latest uptrend, which, at one point, delivered weekly gains of up to 25%.“To perform a reclaim of the 200-week MA as support, BTC needs to Weekly Close above $22800,” popular trader and analyst Rekt Capit...
Bitcoin lurks by $22K as US dollar falls from peak, Ethereum gains 20%
Altcoins, Bitcoin

Bitcoin lurks by $22K as US dollar falls from peak, Ethereum gains 20%

Bitcoin (BTC) hugged $22,000 on July 19 as macro conditions slowly turned to favor risk assets. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewStocks, crypto rise as dollar weakensData from Cointelegraph Markets Pro and TradingView showed BTC/USD cooling volatility immediately below the crucial 200-week moving average (WMA).The Wall Street open saw further gains for United States equities in the face of a declining U.S. dollar, which extended its retracement after hitting its latest two-decade peak.The U.S. dollar index (DXY) stood at around 106.5 at the time of writing, down 2.6% from the high seen July 14.For Bitcoin analysts, it was thus a case of wait and see as markets bided their time between buy and sell levels.$BTC / $USD - Update These are the options on #Bit...
DeFi for financial services: Alex Tapscott’s ‘Digital Asset Revolution’
Analysis, Bitcoin, Education

DeFi for financial services: Alex Tapscott’s ‘Digital Asset Revolution’

Decentralized finance (DeFi) has massive potential to transform traditional financial services. Data from Emergen Research recently found that the global DeFi platform market size is expected to reach $507 billion by 2028. Moreover, the total value locked within DeFi currently exceeds $75 billion, demonstrating fast-paced growth compared to previous months this year.Yet, DeFi’s potential may still not be realized by business leaders unfamiliar with the blockchain ecosystem. This notion is highlighted in Alex Tapscott’s recent book, Digital Asset Revolution. Tapscott, co-founder of the Blockchain Research Institute and managing director at Ninepoint Digital Asset Group, told Cointelegraph that he believes digital assets are going to be an im...
Bitcoin fights key trendline near $20K as US dollar index hits new 20-year high
Bitcoin, Etherium

Bitcoin fights key trendline near $20K as US dollar index hits new 20-year high

Bitcoin (BTC) found a new focus at just under $20,000 on July 14 as United States dollar strength hammered out yet another two-decade high.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewDXY moves bring yen, euro into focusData from Cointelegraph Markets Pro and TradingView showed BTC/USD rebounding from lows sparked by a fresh 40-year high for U.S. inflation as per the Consumer Price Index (CPI).After briefly dipping under $19,000, the pair took a flight above $20,000 before consolidating immediately below that psychologically significant level.For on-chain analytics resource Material Indicators, it was now “do or die” for BTC price action when it came to a key rising trendline in place since mid-June.On the day, that trendline stood at around $19,600, with BTC/USD now pre...
‘Very small chance’ BTC price could hit $24K, says trader as US dollar cools
Bitcoin

‘Very small chance’ BTC price could hit $24K, says trader as US dollar cools

Bitcoin (BTC) fought to reclaim $20,000 on the July 12 Wall Street open as the U.S. dollar cooled its surge to new two-decade highs.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewDollar bull run takes fresh breatherData from Cointelegraph Markets Pro and TradingView revealed a tug-of-war between buyers and sellers following seven-day lows for BTC/USD.The intraday losses had come at the hands of a rampant U.S. Dollar Index (DXY), which hit its highest levels since October 2002 at risk assets' expense thanks to inverse correlation.U.S. dollar Index (DXY) 1-hour candle chart. Source: TradingViewA subsequent pause gave U.S. equities room to breathe, with both the S&P 500 and Nasdaq stemming losses on the day. Good to note how quickly risk assets tend to move up when $...
Bitcoin price indicator that marked 2015 and 2018 bottoms is flashing
Analysis, Bitcoin

Bitcoin price indicator that marked 2015 and 2018 bottoms is flashing

Bitcoin (BTC) could undergo a massive price recovery in the coming months, based on an indicator that marked the 2015 and 2018 bear market bottoms.What's the Bitcoin Pi Cycle bottom indicator? Dubbed "Pi Cycle bottom," the indicator comprises a 471-day simple moving average (SMA) and a 150-period exponential moving average (EMA). Furthermore, the 471-day SMA is multiplied by 0.745; the outcome is pitted against the 150-day EMA to predict the underlying market's bottom.Notably, each time the 150-period EMA has fallen below the 471-period SMA, it has marked the end of a Bitcoin bear market. For instance, in 2015, the crossover coincided with Bitcoin bottoming out near $160 in January 2015, followed by an almost 12,000% bull run toward $20,000 in December 2017.BTC/USD weekly price chart ...
Bitcoin risks new lows as $20K looms amid dollar euro parity
Bitcoin

Bitcoin risks new lows as $20K looms amid dollar euro parity

Bitcoin (BTC) headed for $20,000 after the July 11 Wall Street open amid fresh warnings to “prepare for new lows.”BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView$20,300 eyed as next support zone to holdData from Cointelegraph Markets Pro and TradingView showed BTC/USD failing to recover losses that had immediately followed the weekly close at $20,850. The pair had nonetheless locked in its best week’s gains since March, these nonetheless apt to unravel as market uncertainty lingered.For on-chain analytics resource Material Indicators, the level to watch was a trendline acting as support since June.“BTC fell back below the 21-ay Moving Average after the Sunday close,” it wrote in a summation-like Twitter post alongside a heatmap of buy and sell interest on major exchange Bi...