Tag Archives: bitcoin

Bitcoin Price Analysis: BTC Dips Present Buying Opportunities

Bitcoin Price Analysis: BTC Dips Present Buying Opportunities

Bitcoin price is gaining bullish momentum

  • Bitcoin price rallied recently above the $8,400 and $8,500 resistance levels against the US Dollar.
  • The price traded to a new yearly high at $8,900 and settled above the 55 simple moving average (4-hours).
  • There is a crucial bullish trend line forming with support near $8,420 on the 4-hours chart of the BTC/USD pair (data feed from Coinbase).
  • The pair remains well supported and dips towards $8,420 and $8,315 might prevent buy opportunity.

Bitcoin price is gaining bullish momentum and it recently jumped towards $9,000 against the US Dollar. BTC is correcting lower, but it is likely to find support near $8,420 or $8,315.

Bitcoin Price Analysis

In the past few days, bitcoin price started a steady rise above the $8,000 resistance against the US Dollar. BTC broke a few key resistances near $8,420 and $8,500 to continue higher. Moreover, there was a close above the $8,420 level and the 55 simple moving average (4-hours). Finally, the price surged towards the $9,000 level and a new yearly high was formed near $8,900. The price is currently correcting lower below the $8,800 level. There was a break below the 23.6% Fib retracement level of the recent rally from the $7,947 low to $8,900 high. On the downside, there many supports for bitcoin, starting with $8,420. Besides, the 50% Fib retracement level of the recent rally from the $7,947 low to $8,900 high is also near the $8,420 level to provide support.

More importantly, there is a crucial bullish trend line forming with support near $8,420 on the 4-hours chart of the BTC/USD pair. If there is a downside break below the trend line, the price could test the $8,310 support. Any further losses may perhaps lead the price towards the $8,100 support area and the 55 simple moving average (4-hours). On the upside, there are hurdles near the $8,800 and $8,900 levels. The main hurdle is near the $9,000 level, above which the price is likely to climb towards $9,200 and $9,250. Any further gains might push BTC towards the $10,000 level in the near term.

Bitcoin Price

Looking at the chart, bitcoin price is showing a lot of positive signs above the $8,420 and $8,310 levels. Therefore, there are chances of more upsides above $8,900 unless the bears push the price below $8,420 and $8,310.

Technical indicators

4 hour MACD – The MACD is currently reducing its bullish slope.
4 hour RSI (Relative Strength Index) – The RSI is currently correcting lower from the overbought zone.
Key Support Levels – $8,420 and $8,310.
Key Resistance Levels – $8,800, $9,000 and $9,200.

Article Produced By
Aayush Jindal

https://www.livebitcoinnews.com/bitcoin-price-analysis-btc-dips-present-buying-opportunities/

Heiko Closhen, Entrepreneur

Bitcoin Future 2020’s December 21st Online Conference will Discover Future of Bitcoin by Showcasing Experts Sceptics and Maximalists

Bitcoin Future 2020’s December 21st Online Conference will Discover Future of Bitcoin by Showcasing Experts, Sceptics and Maximalists

Malta’s Bitcoin Club announce details of their online conference

Bitcoin Press Release: Malta’s Bitcoin Club announce details of their online conference beginning December 21st 2019, to bridge the gap between “Bitcoin Twitter” and the outer world. The conference will see more than 30 speakers including Stephan Livera, Tone Vays, Giacomo Zucco and many more, with tickets as low as €9.99.

5th December, Valletta, Malta: Bitcoin is all about knowledge. Many people think they know everything but they actually have very little understanding. Bitcoin Future 2020 will change this and catch peoples interest at the heart. Bitcoin is not about getting rich quick, but a very beautiful new approach to money that can help millions of people around the world to have more chances to prosper and build personal wealth. The goal of the conference is dedicated to provide a high level of education without the restrictions of high cost. Often, conferences with world leading experts are unaffordable for many people so Bitcoin Future 2020 decided to use the internet to lower the entry barrier. This way participants can save on travel costs and accomodation for speakers and attendees, and use the proceeds to have even higher level experts on the lineup,

whilst heavily reducing the ticket price.

“It might make sense just to get some [Bitcoin] in case it catches on. If enough people think the same way, that becomes a self fulfilling prophecy.” – Satoshi Nakamoti

Many experts expect the price to surge with the block reward halving in May 2020 and see the price shoot up to new all-time-highs. But right now the sentiment is low because Bitcoin doesn’t seem to be able to pull out of the bearish trend. One of the reasons for this could be the great discrepancy between the progress of Bitcoin on a technological level and the education and level of understanding of everyday people and business leaders alike. Bitcoin is currently on an its most advanced technological level, and much-needed second layer scaling solutions are being rapidly adopted, one exchange at the time. But not many people are aware of those developments as they have written Bitcoin off completely. Furthermore, many have been dissapointed, lost interest or even have a negative opinion about Bitcoin due to uncertain regulatory environment, price volatility and misconceptions.

Similar to the time before and after the 2017 boom, people were hesitant to buy when price was low, as they had little understanding of the technology. Then, based on emotional factors, they bought when the price was on its way to the dizzying heights seen at the end of the year. Many could not sell at the peak and now feel the pain of the price crash. However, regardless of price and regulatory elements, Bitcoin continues its march as a new asset class that has the potential to outperform

other asset classes and currencies.

“We aim to simply provide honest and unbiased information on how experts see Bitcoin in 2020. Experts who really understand the technology and have been working on it for many years. I expect we will blow minds of hundreds of attendees because purely looking at the lineup, I can’t believe myself how many amazing speakers we managed to bring on. It’s literally years of knowledge from some of the best bitcoin experts on the lineup” Said Leon Siegmund, Founder of the Bitcoin Club Malta

Leon Continued: “I am really excited for all the insights, the discussions and the workshop sessions that we will get. I love it when a lot of people can learn from each other and a conference creates this sort of momentum that really makes you feel the energy generated. I think it’s a must attend for anyone who is just slightly interested in the space.” 

The Bitcoin Future 2020 conference looks set to be one of the most informative and easily accessible conferences this year. The Malta Bitcoin Club are also offering logo sponsor opportunities, VIP tickets, and a very special “Bitcoin Billionaire” experience, with first-class flights, 5* hotel experience, private Tesla chauffer, spas, restaurants, and access to the Bitcoin Club Malta’s full range of connections for networking and leverage.

Article Produced By
Bitcoin Press Release

https://bitcoinprbuzz.com/bitcoin-future-2020s-december-21st-online-conference-will-discover-future-of-bitcoin-by-showcasing-experts-sceptics-and-maximalists/

Heiko Closhen, Entrepreneur

Bitcoin Set For Breakout Amid Escalating Iran Tensions

Bitcoin Set For Breakout Amid Escalating Iran Tensions

Bitcoin could be set for a major breakout as escalating tensions between the US and Iran drive investors

to safe-haven assets, with cryptocurrency and gold values surging. Tensions in the Middle East reached a critical point on Thursday after US President Donald Trump ordered a drone strike on a vehicle convoy near Baghdad International Airport, which killed the commander of Iran’s Islamic Revolutionary Guards Corps (IRGC) Quds Force Qasem Soleimani. Widely regarded as the second most powerful figure in Iran, his death has prompted a dramatic escalation of tensions between the US, Iran, and its allies. As a result, investors are flocking to safe-haven assets such as gold and oil, as well as Bitcoin, which has seen a short-term breakout.

The potential of impending war in the region led to a 3% pop in oil prices, 2% in gold, and, most interesting of all, a 5% rise in the value of Bitcoin (BTC). As Forbes reported, referencing a chart of the recent upward movement of the world’s largest cryptocurrency, “This is a very interesting chart because it shows the global professionals reacting to the news much faster than the private traders and it might be suggested this hike is the result of Middle Eastern retail piling into BTC as a flight to safety rather than the relatively non-existent institutional money.”

Forbes also said that Bitcoin has the potential to drive back towards previous all-time highs based purely off investors seeking out haven capital in territories where capital is intensely controlled, particularly in China and Iran. Bitcoin is a relative newcomer to the world of safe-haven assets and has an extra benefit over oil and precious minerals in that it is considerably more limited in its availability than other assets, and will condense even more following the halving, which is expected sometime around May.  Tether (USDT) Dominance Persists Amidst Mainstream Adoption. While Bitcoin enjoyed a significant bull-run in the first half of 2019, jumping from around $4,000 a year ago to nearly $13,000 in July, the latter six months of the year saw some sizeable losses as it closed at just over $7,000 on New Year’s Eve. The situation in Iran has ensured that Bitcoin is beginning 2020 in the green and is currently trading for just over $7,500.

Article Produced By
Caileam Raleigh

Caileam Raleigh is a financial content writer from Dundalk, Ireland who is currently working in Vancouver. Having graduated with a BA in Journalism with French from the Technological University of Dublin in 2019, he is currently a full-time contributor for PotStockNews, MicroSmallCap, CryptoCurrencyNews, and StreetSignals. Caileam cites music and football as his two great passions in life and is a fan of Liverpool FC, his beloved hometown Dundalk FC, and the sounds of Mr David Bowie.

https://cryptocurrencynews.com/bitcoin-breakout-escalating-iran-tensions/

Heiko Closhen, Entrepreneur

Bitcoin BTC Soars Above 8K Mark on Geopolitical Concerns

Bitcoin (BTC) Soars Above $8K Mark on Geopolitical Concerns

Bitcoin

One of the most remarkable events in the crypto space

took place in the first half of 2019 when Bitcoin (BTC) went on a remarkable rally that almost mirrored the rally from 2017. However, the rally soon fizzled out, and it has been a bit of a rollercoaster ride for the world’s biggest cryptocurrency by market cap. That being said, BTC has managed to make a remarkable comeback in 2020, and today it breached the psychologically important level of $8,000. It should also be noted that the token hit its highest level today since November, and it goes without saying that it has given rise to a lot of positivity in the market.Tensions in the Middle East Between the United States and Iran

Crypto market experts believe that the rising tensions in the Middle East between the United States and Iran are a major factor in the rally. The uncertainty in the market might have prompted people to park their money in an asset that is not controlled by any government, meaning a lot of capital might have flowed into Bitcoin. If that is the case, then one can expect this state of affairs to continue since the tensions in the Middle East are far from over. That being said, there are other factors at play as well with regards to this rally in BTC. Emmanuel Goh, who is in charge of Skew, a crypto derivative tracker, has stated that what is being experienced at this point in time is known as the ‘January effect’ in the stock market. He said, “Professional investors are also back from the Christmas break and starting to deploy capital.”

Telegram Releases Eagerly Awaited Update on Future of TON. That could well be one of the bigger reasons behind the rally in the world’s biggest cryptocurrency, but at the same time, it could also be said that the geopolitical stars have aligned for Bitcoin. Crypto enthusiasts would do well to track the movements over the coming hours. Bitcoin is trading higher by 1.43% at $8,032.

Article Produced By
Ankit Singhania

Based in India, Ankit is a financial content writer and stock market analyst. He has worked for almost a decade on several financial projects related to the stock market news, fundamental research and technical analysis for several websites. He obtained his Masters Degree In finance (MS – finance) from ICFAI. Currently, he serves as a financial consultant and technical analyst at Tradersinsights.com.

https://cryptocurrencynews.com/geopolitical-concerns-grow-bitcoin/

Heiko Closhen, Entrepreneur

A tale of two Bitcoin

A tale of two Bitcoin

This article should really be called the tale of three Bitcoin: BTC, BCH, and Bitcoin SV (BSV).

But that title doesn’t have a nice ring to it, and in conversation, not many people seem to be concerned about BCH being a threat to Bitcoin SV. So for that reason, we will only be taking a look at BTC and BSV in this article. Many BSV supporters often compare the two networks. They put BTC head to head with BSV and believe we live in a world where only one of these networks will survive. However, I don’t think that’s the case—at least, not for the foreseeable future. I think a good portion of Mr. Ayre’s statement is correct; BTC and BSV don’t compete. I also think the part about anonymous tokens being banned is true, and that other blockchains are going to lose relevance—although for a different reason than the one Calvin states, but we’ll save that story for another day.

Why BTC and BSV will co-exist

Modern-day utility in BTC is that it is an alternative investment vehicle that has striking similarities to gold; for this reason, many people call BTC “digital gold.” Although Bitcoin SV also has that property (digital gold), the utility in BSV comes from it being an infrastructure protocol that can be used to create the internet of value. 

Alternative for gold

Today, BTC is primarily used as an investment vehicle. Although there was a point in time when it’s primary use-case was a pseudo-anonymous payment rail, those days are over. The government has cracked down on Dark Net Markets, and users of those markets have turned away from BTC to digital currencies that give them more privacy. In addition, BTC’s technical limitations, such as 1MB blocks, make it difficult for developers to build businesses and programs on top of the network, so for that reason, not many are interested in building atop BTC.

So if BTC is seeing a very small amount of activity as a payment rail, and if it’s not being used as an infrastructure protocol, then what is it being used as? Many will tell you that it is being used as an alternative to gold. BTC is similar to gold, but has many advantages; it has a finite supply, and it acts as a hedge against inflation, but it is easier to carry, is highly divisible, and is relatively liquid just like physical gold. Individuals who purchase BTC are primarily doing it for investment purposes. In other words, they are speculating on BTC and believe it will be more valuable in the future than it is today due to its similarities—and advantages—to gold among many other reasons that they might have.

Internet of value

And then we have the internet of value, which at the moment, can only come to fruition by using BSV in your stack. BSV does everything that BTC was supposed to do since it is not restricted by technical limitations. This gives companies the ability to create businesses and applications that empower consumers. Several companies are using BSV to build applications and platforms that give consumers ownership of the data they create online, the ability to monetize that data, censorship resistance, and increased transparency. 

Why both will survive

BTC and BSV will survive for at least two reasons:

1. they serve different purposes, and
2. they capture different audiences.

BTC attracts the majority of the individuals who are interested in an alternative investment vehicle. At the same time, BSV captures the lion’s share of developers who would like to build a market-disrupting business. Although BSV has all of the same properties of BTC  (without the technical limitations), we cannot overlook that BTC was first to market. I say that to say this, people—especially newcomers—are going to be more familiar with the item that hit the market first before they become familiar with the alternatives that followed. That is why we continue to see the individuals interested in an alternative investment gravitate toward BTC before they even consider that BSV is a viable option. And why highly technical individuals who have been a part of the cryptocurrency communities and markets for quite some time gravitate toward BSV.

Final thoughts

At the end of the day, both BTC and BSV are going to be around for many years to come. In all honesty, the two don’t compete, and they captivate different audiences. One is primarily being used as an alternative investment vehicle. The other is being used to create the companies and programs that could ultimately disrupt many modern internet applications as we know it, bringing us closer to a world with an internet of value that empowers the end user.

It is easy to get caught up in a dispute, even an echo-chamber, regarding why only one of these blockchain networks will survive. But when you talk to the average person, especially a no coiner who is interested in jumping into the crypto-markets, they are going to have no idea what someone means when they say that only one coin will survive. While BSV is considered the original Bitcoin now that BTC forked off taking its ticker symbol deviating from Satoshi’s whitepaper to create its own unique protocol, both blockchains will exist for some time since neither compete head to head anymore.

Article Produced By
Patrick Thompson

https://coingeek.com/a-tale-of-two-bitcoin/

Heiko Closhen, Entrepreneur

Best Slots You Can Play with Bitcoins

Best Slots You Can Play with Bitcoins

The online casino industry was one of the first industries to start accepting cryptocurrencies.

The blockchain technology that cryptocurrencies operate on worked well with the online casino industry as online gamblers wanted to maintain their anonymity and not disclose their personal or financial information. Online casinos that adopted cryptocurrencies such as Bitcoin – which is the most popular cryptocurrency in the world saw many of their players opt to use Bitcoin as their banking method. Today, there are a number of online casinos out there that allow players to use Bitcoin to play online slots, online poker and other games. Here is a popular choice. Bitcoin’s appeal as a low-key, efficient, and cheap means of money transmission has finally led to its widespread usage in casinos and their video slots. It’s certainly a hit among operators and online bettors seeking lower chargeback risk, reduced fees and a way to get around legacy payment systems. With that in mind, here are the 5 best slots you can play with Bitcoin.

5. Greedy Goblins by Betsoft

Greedy Goblins by Betsoft Software is one of the most popular online slot games that accepts bitcoins. It’s a 5-reel, 3-row, 30-payline slots game that can be played on both regular computers like PC desktops and notebook laptops as well as mobile devices like tablets and smartphones. This magical forest and monsters adventure game features both free spins and a progressive jackpot. This online slot has an encouraging RTP rate of 97.2 percent. The game is the sequel to Once Upon a Time, which also features the same goblin villains on a medieval fable or fairy tale setting. Its plot involves a magical forest setting full of the avaricious and covetous titular creatures going up against the brilliant-minded, adorable elves.

If the game proves to be to your tastes, you should have an easy time immersing yourself into its plot, which involves insatiable monsters keeping a watchful eye on every move you make and every win you get. The value of the coins can go from ¢2 to ¢5. You can also bet up to 30 pay lines with 5 coins per line, so the maximum bet spin should cost you $150 or its equivalent value in Bitcoin. That might sound like loads of money, but Greedy Goblins has an ironically huge maximum payout of 1.2 million credits.

4. Book of Pyramids by SoftSwiss

The Book of Pyramids is an online bitcoin slot by SoftSwiss. This 5-reel, 3-row, and 9-payline video slot has an Ancient Egypt theme and offers up to 33 free spins as a bonus. The online slot can be played via desktop computers, tablets and smartphones. This popular Bitcoin slot game has a generous RTP rate of 97.13 percent. Thematically, Book of Pyramids uses one of the oldest themes in the book when it comes to slots.

It doesn’t break new ground in terms of its Egyptian-themed presentation, as seen in its use of Egyptian artifacts and hieroglyphic symbols like pyramids, tombs (with gold playing cards), the Eye of Horus, the Eye of Rah, the Bastet cat, pharaohs, the scarab symbol (for the scatter), the Ankh, and Egyptian headrests. Although the game trudges through a well-beaten path, it’s still fun to play and easy to understand. Its creators are particular about numerology since all the numbers on the game are quite specific. For example, 3 or more scarabs can activate 11, 22, or 33 free spins. Furthermore, the best paying payout awards you 9,999 times your line bet if you get a 5-of-a-kind line. The second best is at 6,666 times, the third best is 3,333 times, the fourth best is 888 times, and so forth. Finally, the 9-payline slot is able to differentiate itself from other Egyptianesque slot games with its colorful graphics and decoration-rich interface.

3. The Ninja by Endorphina

The Ninja by Endorphina is another popular bitcoin friendly online slot. This online slot has a theme involving a ninja battling against a group of modern-day covert agents. The Ninja slot also features free spins and a 3D wild symbol on top of the ability to deposit and withdraw using bitcoins.

The mobile-friendly game is a 5-reel, 3-row, and 20-payline virtual slots machine. It also features a generous 96.13 percent RTP rate. The fascinating world of The Ninja showcases a feared and famous spy who’s so good he has earned the eponymous title as a badge of honor. The immersive and fun online slot game from Endorphina involves loads of thematic stealthy action translated into slots iconography. In terms of gameplay, it’s filled with free spins and bonuses that are represented by the most beautiful of animations throughout every spin attempt. You’ll feel like a spy gathering loads of intel and gaining hidden money wired to your bank account thanks to the many possibilities of winning cash rewards within the slots. The option to use a cryptocurrency also adds to the game’s mystique.

2. Platinum Lightning by SoftSwiss

This bitcoin-enabled slots game is another SoftSwiss hit and is called Platinum Lightning. This esoterically themed yet casual-friendly virtual slot machine game is a 5-reel, 3-row, and 25-payline game. In terms of reward opportunities, the game includes gambling rounds, a wild symbol, and loads of bonuses. It has a 96.29 percent RTP rate.

Instead of an Ancient Egypt theme a la the Book of Pyramids, Platinum Lightning has an Ancient Greek Mythology (also Roman Mythology) theme this time around, with a dash of Norse and Scandinavian Mythologies thrown into the mix. This has resulted in a hodgepodge of gods and events, like Thor going face-to-face against Hercules (or Heracles) as well as Zeus (or Jupiter) dealing with Ragnarok and the Titans side-by-side with the All-Father himself, Odin. Gameplay-wise, Platinum Lightning also has a lot going for it, from reels filled with mythological creatures like the Minotaur serving as the bonus symbol to Zeus Lightning serving as the Scatter of the game, which you can win if you have 3 or more of the lightning symbol anywhere on the reels. The Wild symbol is the ship that substitutes all symbols in the slots except for the Scatter symbol. To set your bets, click on the 3 lines to open the betting panel.

1. Satoshi’s Secret by Endorphina

Last on our list of best online slots that you can play with bitcoin is Satoshi’s Secret by Endorphina. Satoshi’s Secret is a 6-reel, 3-row, and 20-payline video slots game that’s both mobile-friendly and Bitcoin-friendly. It is currently one of the most popular Bitcoin slots available because of its meta-fictional theme. In terms of its rewards system, it includes gambling rounds, wild symbols, and quite a number of bonuses. It also offers a flat 96 percent RTP rate.

Even though it has the lowest RTP rate among the games featured on this list, it remains immensely popular because it’s thematically about hacking and literally about bitcoins. It offers symbols and icons like the bitcoin sign, letters of the alphabet, and even the symbol for the hacker character himself. Satoshi’s Secret is apparently about hacking for bitcoin, almost to the point that the slots game appears like an advertisement for the cryptocurrency. Its highest paying symbols include the hacker, the pound currency symbol, the euro currency symbol and the dollar currency symbol.

Its plot involves hackers hacking, social engineering, and phishing for the infamous virtual coin. You can choose between coin sizes and set the number of coins per line. It has a Wilds symbol in the form of a chip that has the word “Wild” written on it and it can substitute for all symbols save for the Bonus Bitcoin Padlock symbol. Bitcoin is already used widely in many online casinos and has quickly become a primary funding method at many. Adoption seems to be accelerating, and not just for Bitcoin, but numerous other crypto currencies like Bitcoin Cash and Litecoin as well.

Article Produced By
Crypto News

https://usethebitcoin.com/best-slots-you-can-play-with-bitcoins/

Heiko Closhen, Entrepreneur

Bitcoin Will Reach Its All Time High in 2020 tweets Financial Analyst Bob Loukas

Bitcoin Will Reach Its All Time High in 2020, tweets Financial Analyst Bob Loukas

Bitcoin could probably see an all-time high (ATH) by the end of 2020,

tweets financial analyst and trader Bob Loukas. His prediction for assets are generally correct to some degree, for example, his predictions for Bitcoin in 2019 trading around $7K range proved correct, causing some excitement around his 2020 ATH prediction.

The reason for a Bitcoin ATH is the global slowdown in central bank movement which would lead to economic stagnation, a prolonged period of little or no growth in the economy, and high inflation. If a slowdown happens, investors  will invest in stable assets, which is not impacted by inflation, for instance, Bitcoin which still is the ‘ digital gold.’ Such a narrative predicts BTC’s sustained rise. Although there may be periods of decline, in general, the situation with the coin is positive. Moreover, there is a growing trend in Bitcoin adoption, as more consumers are entering the Bitcoin market, increasing demand, and thus price.

The Main Contradictions

There are many who still believe Bitcoin won’t be reaching the ATH. The reasoning for this is, first, Bitcoin’s actual use cases may be much more narrowed than thought before. The cost of small payments becomes too high to justify as transaction fees rise. In addition, there is significant potential for government controls or even outlawing. The urge for stronger controls over financial transactions may force policymakers to severely restrict the use of Bitcoin. New Chinese legislation is a vivid example of such a change Eventually, there is a real possibility is the fear that the demand for Bitcoin will decrease and be replaced with a new token.

Article Produced By
Ishan Garg

Ishan is a cryptocurrency trader and a journalist. He is the founder of Blockmanity. He trades cryptocurrencies and holds some but he prefers holding USDT.

https://blockmanity.com/news/bitcoin/bitcoin-will-reach-its-all-time-high-in-2020-tweets-financial-analyst-bob-loukas/

Heiko Closhen, Entrepreneur

Bitcoin BTC Price Prediction and Analysis in January 2020

Bitcoin (BTC) Price Prediction and Analysis in January 2020

Today, we will be taking an in-deep look at the historical prices and market opinions of BTC, so that we can project a Bitcoin price prediction for January 2020.

Bitcoin Overview

Bitcoin is the world’s first crypto, created in 2009 by the anonymous Satoshi Nakamoto. Bitcoin (BTC) is currently the number one coin in the crypto world, with a trading price of $7,589.93 and a market cap of $137,717,427,358. There are currently 18,144,762 BTC in circulation out of a total of 21.000.000 BTC. $21,765,197,319 worth of BTC was the volume traded in the last 24 hours.

Bitcoin Price Prediction: Analysis

Bitcoin started December at $7.571,62, with the price declining throughout December until the price reached a new multi-month low of $6.540,05 on December 18th. Luckily, the following day, BTC recovered to $7,200 and continued to keep itself above this value. On December 23rd, there was a noticeable increase in Bitcoin price, with the coin surpassing the $7,500 resistance level. The price also briefly touched the $7,600 level and the 100 hourly simple moving average.

But the bullish momentum failed to get Bitcoin to $7,680 and $7,700 levels, with two occasions in which the coin attempted to reach the $7,700 resistance. By failing to touch this new resistance level, this led to the formation of a new downtrend below $7,500 support and the $7,400 pivot. There was also a break below the contracting triangle with support near $7,500.The first major resistance is located at $7,480 and $7,500 levels. In order to get back to the main $7,700 resistance area, Bitcoin must break the $7,400 and $7,500 resistance level.

The resistance, pivot, and support levels calculated by WalletInvestor are:

  • Resistance Level (R3): 7886.300
  • Resistance Level (R2): 7769.690
  • Resistance Level (R1): 7562.040
  • Pivot Point: 7445.430
  • Support Level (S1): 7237.780
  • Support Level (S2): 7121.170
  • Support Level (S3): 6913.520

Developments

Bitcoin’s Lightning Network saw a lot of traction in 2019, and it has been predicted that the technology will soon experience rapid development, as it is continuously developed by Blockstream, Lightning Labs, and other development firms. “Taken together, those technologies will make channel and liquidity management much easier. They’ll be automated, fade into the background and user experience will improve drastically,” stated Newberg. There has also been a surge in Lightning Applications (or LApps), which are in some way similar to Ethereum-based DApps. After releasing Lightning Network, developers started launching LApps in order to test Lightning’s use cases. 2019 saw the release of the first Lightning-powered video games, including Satoshi’s Games, a hub for various games that convert in-game points into satoshis. More of such games are set to go live in 2020 officially.

Most LApps are true to Lightning’s core use case of payments, but a few LApps have started venturing into new territories, and that would be messaging. Due to a recent software update, Lightning is now able to support complex messaging, and two projects, Whatsat and Sphinx Chat, are looking to use Lightning for encrypted messaging. Both apps make use of type-length-values (TLVs) in order to attach the message to a Lightning payment. Then, these messages are sent through the network at a small fee. Whatsat is an open-source stack that awaits contribution from the developer community, while Sphinx Chat is in private beta at the moment, with a launch scheduled for 2020.

Bitcoin Price Prediction: Market Opinion for January 2020

Various sites have made their own Bitcoin price prediction for January 2020, so we decided to incorporate some of the most relevant ones to better portray market sentiment.

Longforecast

Longforecast predicted that BTC will be trading at $7,369 at the start of January. The site forecasted that the maximum price would be around $8,587, while the minimum price would be around $6,393. The month’s average price was estimated at around $7,443. The closing price of the month was projected at $7424, change for January 0.7%.

Digitalcoinprice

Digitalcoinprice forecasted that in January 2020, Bitcoin would be trading at $15,761.00, which signifies an increase of 111.5 %.

Tradingbeasts

Tradingbeasts estimated that BTC would be trading at $6,759.832 by the beginning of January 2020. The site forecasted that the maximum price is $8,438.994, while the minimum price is $5,738.516. The Bitcoin price prediction for January’s closing price is $6,751.195.

Coinpredictor

Coinpredictor expects Bitcoin to have a 15.2% increase at the start of January, which would bring BTC to a value of $10,623.29.

WalletInvestor

WalletInvestor made predictions for the next days of January, along with the minimum and maximum values of each day.

  • 2020-01-09: average $7414.640, minimum $7230.950, maximum $7604.050;
  • 2020-01-10: average $7456.950, minimum $7265.690, maximum $7646.190;
  • 2020-01-11: average $7487.160, minimum $7302.320, maximum $7690.830;
  • 2020-01-12: average $7603.890, minimum $7422.200, maximum $7789.830;
  • 2020-01-13: average $7648.740, minimum $7461.340, maximum $7846.780;
  • 2020-01-14: average $7456.330, minimum $7271.970, maximum $7638.430;
  • 2020-01-15: average $7389.670, minimum $7203.270, maximum $7578.600;
  • 2020-01-16: average $7442.850, minimum $7255.520, maximum $7622.180.

Gov.capital

Gov.capital estimated that Bitcoin would be trading at $6,642.176 at the start of January, with a maximum price of $7,306.393 and a minimum price of $5,977.9584.

Cryptorating

Cryptorating estimated that BTC would have a price of $9,180.17 in January, with a change of 23.4%.

Cryptoground

Cryptoground estimated that BTC would be trading at $9,958.7250 in January, with a change of 35.21%.

Bitcoin Price Prediction: Verdict

This has been our Bitcoin price prediction article for January 2020. We hope that the information we provided will be of help to you in your future BTC trading operations.

Article Produced By
Anca F.

Hi, I’m Anca. You might’ve stumbled upon my literary creations while searching for stuff on the internet. I write mostly on topics related to tech, crypto and such (although there was a period in my life when I wrote sarcastic descriptions for bizarre Amazon products). When my ADD kicks in I turn sticky notes into Pikachus or pop bubble wrap.

https://coindoo.com/bitcoin-price-prediction-january/

Heiko Closhen, Entrepreneur

Will Bitcoin Price Surge Due to US-Iran Tensions? Details

Will Bitcoin Price Surge Due to US-Iran Tensions? Details!

Bitcoin prices and US-Iran tensions

With the most sensitive trading route in the world (the strait of Hormuz) and an already heated Middle East is driven by the Yemeni war, the Israeli-Palestinian situation, and the Saudi-Iranian conflict, Oil price is already taking its flight. However, there are suggestions that Bitcoin prices could follow this trend as well because traditional markets are already in chaos. Investors will seek a haven for their assets as global chaos ensues.The Iranians already have a love-hate relationship with cryptocurrencies. The use of cryptocurrencies to evade sanctions is already one way that they have considered at the state level. The restriction on Bitcoin trading and mining also indicates a level of state-control over digital assets. This, in turn, takes the global cryptocurrency adoption process to a whole new level.

Already, Bitcoin price is considered to have an uptick this year considering the next Bitcoin halving event which is just six months away. The imminent halving has made miners look for a way to mitigate their risks by lower purchases of mining equipment. An increase in hashing power suggests that the miners are considering the quality of equipment in terms of performance over quantity. This is an important factor to consider as increase in hashing power will lead to parity in mining difficulty this year. This, of course, creates a combustible scenario where Bitcoin prices will explode exponentially while global geopolitics will ensure that new entrants into the Bitcoin market are a definite reality.

Strong Reasons Bitcoin Would Rally Upward

Bitcoin price would likely achieve new support levels. This is because of several reasons. Firstly, Bitcoin dominance is still around its all-time high of 68.2%. Secondly, the key players in Iran’s Oil sector are going to need forms of new cashflows following the recent assassinations. Currently, the pseudonymous nature of the Bitcoin blockchain will ensure that they have access to international markets and we are going to see a shift of the settling of most of the Islamic Republic’s major oil contracts in cryptocurrencies.

The Islamic Republic may at this time also consider lifting restrictions on a limited basis on Bitcoin mining and trading within its borders to shore up its economy. If history is anything to go by, the United States is going to take a harsher stance against Iran. This will escalate beyond a war of words as key allies in the Middle East are also going to have asymmetrical forms of conflict within and outside their borders; something that the Iranians will also realign in line with the new reality on the ground: A decade of conflict is here. The world financial system will go into another “shock and awe” series of moments this year. It is already obvious that another war in the Middle East is imminent and this time the biggest gainers will be the HODLers. So, yes, Bitcoin prices are going to rise this year and it may be higher than we think if the current global situation continues along these lines.

Article Produced By
Christopher Hamman

https://newslogical.com/real-reasons-bitcoin-price-will-surge-due-to-us-iran-tensions/

Heiko Closhen, Entrepreneur

Bitcoin BTC Fees Grow with Usage Still Outpaced by Block Reward

Bitcoin (BTC) Fees Grow with Usage, Still Outpaced by Block Reward

In the future, BTC transaction fees may become key to miner gains, as block rewards slide.

Bitcoin (BTC) saw significant fluctuations in overall fees,

with heightened activity leading to unexpected, unpredictable gains for miners. Fees are still a small part of the BTC economy, as block rewards of 1,800 coins per day still bring significantly higher gains. However, with the block reward halved in May 2020, it is possible that with time, fees get closer and closer to the overall block reward. But the chief appeal of BTC is more efficient fee structure, which means billions can be sent for

relatively smaller fees.

Transaction fees collected by Bitcoin miners saw some wide swings in 2019, averaging $100,000 a day during quiet periods but spiking to $2,000,000 per day during busy times. The 2019 fee spike was still less than 10% of the highest fee days seen in 2018. 

Fees decrease as SegWit adoption spreads, with more addresses using optimized information storage. But BTC blocks also fill up to capacity, making the fees rise. For now, BTC has no block size limit, with occasional larger blocks. Bitcoin daily transactions remain close to 300,000, with transaction value just under $1 billion’s equivalent, slowing down in the past weeks. But the biggest factor in the BTC economy remains mining. The Bitcoin network hashrate is above 101 EH/s again after a day of climbing. Miners remain dedicated to catching the last of the larger block rewards, while also serving to secure the current relatively high demand for transactions. BTC on-chain activity has shown a strong correlation with price rallies. For now, as prices find another tier of stability, activity has diminished. Flows to and from exchanges

also remain limited.

A look back at peaks in $BTC on-chain fundamentals in 2019. Interesting to see which metrics peak first in the lead up to the 19' price run
 

The past year saw heightened BTC statistics, despite the fact prices were still far from their all-time peak. But coin activity won’t tell the whole story about prices in 2020, as the leading coin will also rely on futures and options markets, where no actual BTC transfers would be needed. BTC traded at $7,358.05, as the coin erased the gains made above $7,400. Activity does not seem to be winding down in the last days of the year, as bearish pressures once again lead to highly active trading.

Article Produced By
Christine Masters

Business writer with a knack for bubbles and market madness. Has tracked it all: the financial crisis of 2008 and the implosion of Lehman Brothers; bank bailouts and peak gold and silver, penny stocks…and now Christine has moved to cryptocurrencies for fresh stories.

https://cryptovest.com/news/can-google-and-apple-destroy-the-dapp-ecosystem/

Heiko Closhen, Entrepreneur

Power to the seniors