Říj 31

Technical Analysis: Bitcoin Price to Hit $1500 By Year-End?

Source: bitcoin

bitcoin price

The bitcoin price has recently launched into an upward rally, with technical indicators showing the rise slowing down at $820 while bullish consensus builds to send it further to $1500 by 2017.

Also read: Zcash: Where Is All the Hype Coming From?

Technical Analysis: $1500 and Beyond

Long-Term Analysis

After bullish signs flooded the markets, the bitcoin price has shifted into an upward rally. According to technical indicators, this rally should last until we hit $820, after which a sideways market will prevail.

If this scenario gets confirmed, quotes would be able to double again to the year-end objective beyond $1800. The current Elliott Wave Theory 5th phase could be evaluated at the same size as the 1st wave that took place on 2015´s 3rd quarter.

Following the “ABC ending,” that would happen at $820, which should be thought as a lateral sideways market

Mid-Term Analysis

Bullish consensus is still getting stronger. According to indicators, the technical objective is a lateral sideways market near $820.

If confirmed, that scenario be seen as another bullish sign, allowing the chance for another climb into an euphoric bubble, more than doubling the price to $1500 and beyond.

Short-Term Analysis

Prices have entered a synchronization process, recovering their lag against technical indicators. A full synchronization in the short-term shows a continued rise to $820.

Japanese Candlesticks Analysis reflects the chance of another upward movement after the arriving to the technical lateral market at $820. However, the time extension of that lateral movement would determine the next bubble´s size.

Staff opinion: We believe the bitcoin price will stay near $700 for a while, acting as a psychological resistance to further increases. After being tested by profit-taking, the bulls will likely attempt to push beyond $700, triggering a rally that confirms the present technical analysis. The timeline for this prediction is uncertain, we believe that it may or may not happen by the end of 2016

What do you think will happen to the bitcoin price? Let us know in the comments below.

Cover image courtesy of Pixabay.

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Technical Analysis: Bitcoin Price to Hit 00 By Year-End?

Říj 26

Bitcoin IRA Is Giving Away One Ounce Gold Coins to New Customers

Source: bitcoin

Bitcoin IRA

LOS ANGELES — Bitcoin IRA, marketed as the first and only bitcoin-based retirement investment company, has announced a gold rebate for new clients.

Disclaimer: This article is sponsored by Bitcoin PR Buzz.

Bitcoin IRA Giving Away Free Gold

New account holders automatically qualify for the rebate, paid out in gold eagle coins. The size of the rebate depends on the size of the new account, with the rebate schedule as follows:

  • $15,000 bitcoin investment = 1/10 oz. gold eagle coins
  • $35,000 bitcoin investment = 1/4 oz. gold eagle coins
  • $70,000 bitcoin investment = 1/2 oz. gold eagle coins
  • $100,000+ bitcoin investment = 1 oz. gold eagle coins

The company said the rebate will run for a limited time, until supplies of the gold eagle coins run out. According to a press release, the Bitcoin IRA team wants to use this rebate promotion as a way to incentivize using bitcoin to save for retirement.

For those interested in opening a Bitcoin IRA account, the company says it has both traditional and Roth IRA options, which offer the same tax benefits as regular investment accounts.

The company also noted the growth of bitcoin since the IRA’s inception in May 2016. At press time, the bitcoin price has increased by 44.4 percent since the company’s May launch.

Additionally, in a press release, Bitcoin IRA compared bitcoin’s growth to S&P 500 performance over the last year, showing a graph depicting a rather stagnant S&P on top of a massive orange wave of bitcoin gains.


Similar to the new gold rebate, the IRA providers also have a silver rebate, which they started in late August to celebrate a milestone of $500,000 worth of bitcoin invested on the platform. New accounts are eligible for a 1 percent rebate in silver on each new investment account.  

In August, Bitcoin IRA chief strategist Ed Moy said in a press release:

“Bitcoin is one of the most important currency innovations in decades. It’s a decentralized, global form of money, so its value isn’t tied to the economy of any one specific country. That makes it an excellent way to diversify your investments.”

In addition to the gold and silver rebates, anyone interested in using bitcoin to save for retirement can download the company’s free investment guide.

Do you think using bitcoin to invest in your retirement is a good idea? Let us know in the comments below.

Images courtesy of Bitcoin IRA.

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Bitcoin IRA Is Giving Away One Ounce Gold Coins to New Customers

Říj 24

Technical Analysis: Explaining the Weekend Bitcoin Price Rally

Source: bitcoin

Technical Analysis: Explaining the Weekend Bitcoin Price Rally

The prevailing bitcoin price resistance was overcome by a little flag pattern this past week, which ultimately launched prices up to recover a technical objective at $820.

Also read: CoinAgenda Brings Blockchain Leaders to Vegas on October 25

Bitcoin Price Technical Analysis

Long-Term Analysis

After prices overcome the psychological trigger zone area among $620 and $650, the current phase points to a technical goal near $820.

According to Elliott Wave Theory, the current movement should reach a higher scenario through the 5th phase, from where profit taking would be considered. The old trendline, started in 2013, could be very useful at this stage because quotes still recognize its reference, reflecting that pioneer bitcoin holders could be back in the action with a big hedging marketplace.

Mid-Term Analysis

According to indicators, prices could climb to the next congestion area at the $800 level. From there, a big bout of profit taking is expected through another lateral sideways market—like the one we had seen since August—without any bear movement.

Instead, traders will capitalize on the idea of a renewed, upward march, building a level of support that should be confirmed during November. B

Bullish consensus is still getting stronger, and many technical analysts are coinciding on the bullish chance for late October, while the late 2016 period could be analyzed into a euphoric bubble beyond $820 in a third technical phase.

Short-Term Analysis

A little flag pattern has launched prices to the up side, overcoming the psychological trigger zone at $650. Now quotes are recovering to their technical objective at $820.

According to Japanese Candlestick Analysis, the prices are going up and the next technical scenario could be a continuous rise backed by fundamental data and political factors. The same-sized field recovered in August 2016, and was followed by a lateral sideways market.

The bitcoin price could be recovered now, and may follow with a similar lateral sideways market again.

What do you think will happen to the bitcoin price? Let us know in the comments below!

Cover image courtesy of MPR News.

This technical analysis is meant for informational purposes only. Bitcoinist is not responsible for any gains or losses incurred while trading bitcoin.

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Technical Analysis: Explaining the Weekend Bitcoin Price Rally

Říj 21

Bitcoin Price Drops: Where do We Go From Here?

Source: bitcoin

bitcoin price

A bit of a fall has occurred on bitcoin’s side. Since our last price piece, the bitcoin price has stumbled by about $12 and now hovers at $628.

Also read: Bitcoin Price Breaks $640, Are We About to Go Even Higher?

Bitcoin Price Heading South?

One source writes:

“The levels in focus moving forward are in terms support to the downside at 629, and in-term resistance to the upside at 632. Just as with this morning, this width of range is far too tight to go at with an intra-range approach, so it’s all about breakout for now. If price closes above in terms of resistance, we will get in long towards an immediate upside target of 637. A stop on the trade at 630 defines risk. Conversely, if price breaks below support, a close below this level will put us short towards 625.”

It appears most analysts are not fully able to predict where bitcoin will travel from here. The market is showing mixed activity, and there’s nothing specific to give us a better understanding as to whether things will become bullish or bearish. Present sentiment seems to suggest a bull run, but caution remains that a bearish market could emerge from the darkness.

One analyst explains that bitcoin is presently stuck in an “arc,” and whether it will move north or south is relatively left open to chance:

“Price is meandering its way through the third arc pair. Longer term, this is bullish because when it gets out of the arc pair it is likely to rise again, but until it gets to the other side with a strong close above the arc, it’s not so clear what will happen while it’s in the pair itself. Tomorrow is 120 degrees since the spike low of 6/22, so we are at a point in time that we can expect something might begin tomorrow. But what? A reversal or acceleration?”

This same source suggests that if bitcoin closes below $638 in the next day, a bearish market wouldn’t be terribly unlikely. Still, however, one can see that there is no clear evidence to suggest where bitcoin will go or when, and if support breaks, a massive drop may occur.

Investors are warned to lay off major trading until the market “makes a decision,” and clear signs about where things will go are offered.

Do you think bitcoin’s price will rise or sink? Post your comments below!

Image courtesy of Bitcoinist.

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Bitcoin Price Drops: Where do We Go From Here?