Čvc 06

The Halving Month Is Here; What Will Happen to the Bitcoin Price?

Source: bitcoin

Bitcoin halving

Another rise in the bitcoin price — since our last price piece, bitcoin has jumped up by about $3, and is hovering around $673 at press time. With the highly-anticipated block reward halving drawing ever-near, this bump might be an indicator for an even larger rally in the coming days.

Also read: Are the Winklevoss Twins Bringing the Bitcoin Price Back Up?

The Halving: What’s Going to Happen?

The halving month has finally arrived, and this could potentially be the first of several jumps in the coming days and weeks. While no one is making any real predictions yet, the fact is that there is no going back. Bitcoin has reached ‘the point of no return,’ and production of the virtual currency is set to be significantly cut.

One plausible action might be to stock up on bitcoins now.

While we’ve witnessed heavy drops in the past, some still believe that bitcoin is the strongest and most stable currency in today’s financial markets, so unless their stashes are already massive, it may be best to take matters into their own hands with what little time they have left. With their savings and earnings all chalked up in the Bitcoin arena, their best-case scenario is to add to their stashes and buy bitcoin now before it surpasses the $700 mark.

But this is merely a suggestion. Some analysts don’t see a $700 bitcoin as a sure thing (one never can in the world of digital currency), and advise Bitcoinists to be careful (as usual) with whatever coins they already possess. One source relays the unpredictability of the ongoing market in full fashion:

“There is no telling what the market will do next. One scenario is that price consolidates into the next wave of advance – and gives us the expected buy signal in the coming days. Another scenario is that decline continues. In the case of the latter, we’d expect to see the price revisit the previous low near $560… If there is an upside, the market should find support at $650 and begin advance toward $755. If $650 breaks, then $560 could be the target.”

The bottom line is that one should invest, but do so carefully. While this may sound like typical advice, we don’t know which way the market will turn presently. With the halving approaching, ready to strike us hard in the chest, the circumstances may be more unpredictable than ever, so investors are advised to look both ways before crossing the street.

Will the bitcoin price rise significantly in the coming week? Post your thoughts and comments below!

Images courtesy of Shutterstock, Crypto-Graphics. 

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The Halving Month Is Here; What Will Happen to the Bitcoin Price?

Kvě 15

Will the Bitcoin Price Hang Where It Is for a Little While?

Source: bitcoin


Since our previous look at the bitcoin price, bitcoin has enjoyed a hike of about two dollars. It’s not terrible; after all, any rise in price is something worth celebrating, but at the same time, $2 is nothing to jump and holler about. Considering bitcoin’s operations in the past, it’s probably safe to say that Bitcoin has found a spot to hover close and settle down for at least a little while.

Also read: Bitcoin Price Stagnates, What Happens Next?

What Is the Bitcoin Price Doing?

As one source puts it:

“The Bitcoin price has not made any significant move during the quiet Saturday trade. The start of the day in the U.S. may change that, but for now, it looks like continuing inaction will be the prospect… A quiet day in the Bitcoin price chart as the price sticks close to the 200-hour moving average… Low volume trade keeps the price within the constraints of the converging support near $449 (Bitstamp), and the horizontal resistance zone between $462 and $470… The recommendation remains that traders and investors wait for the price to establish… The 1-day and 1-week charts explored yesterday imply a risk of decline.”

A risk of decline… This certainly isn’t music to any bitcoin advocate working today.

As we’ve seen before, Bitcoin is more than capable of “sticking to one post” when it finds a comfortable place to hang. Unlucky for us in 2015, Bitcoin slumped down to one of its lowest points in years. Enthusiasts were pulling their hair and drinking their sorrows away, but the shocking truth was that bitcoin, for one reason or another, seemed to be enjoying where it was. Otherwise, would it have taken as long as it did to restart its ascension to the top once again?

Looking at the present situation, we are certainly grateful that the digital currency is choosing the $450 range rather than the $250 range, but we can’t help but wonder if things will be slow-moving from here on out (at least for a while). Will bitcoin stay here for some time? Will it be another 11 months all over again? Or maybe 12 months or 18 months for it to start thinking about another rise? A simple, $2 bump in value doesn’t put these thoughts out of our minds completely, and we can’t help but wonder where things are destined to go from here.

Do you foresee bitcoin continuing its rise, or falling from here on out? Post your thoughts and comments below!


Images courtesy of BitcoinAverage.

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Will the Bitcoin Price Hang Where It Is for a Little While?

Kvě 08

Bitcoin is Back: Price Rises Nearly $15, Returns to $460

Source: bitcoin

bitcoin bull

Bitcoin is back! After a temporary price drop since our previous price piece that saw it fall to a disappointing $448, our favorite digital currency has jumped back on the horse and commenced its journey into the sunset.

Also read: I Am Satoshi: Will Dr. Wright Cause Panic in the Bitcoin Markets?

The Bitcoin Rally Returns

The sentiment among the majority of market analysts was that the currency was on its way backward — getting ready for another massive slide into oblivion like what we witnessed in 2015. Bitcoin had reached another peak, but would be back at the $300 range in no time. Apparently, this wasn’t entirely true, and not everyone was convinced from the get-go. As one Cryptoinsnews.com reader explained:

“When using charts to invest, I always use the long-term time frames – weekly and monthly and the first thing I do is see if the medium-term moving averages are sloping up or down. For bitcoin, they are currently sloping up, so I would NEVER ‘think about the possibility of decline’ or try and short, I’d wait for the moving averages to turn down.”

Others were in agreement, and their words merely reiterate what many bitcoin fanatics already know: that there is more to bitcoin than meets the eye, and one can’t simply jump to conclusions too quickly. While things may appear downtrodden on the surface, there is magic occurring in the green room. This magic ensures that while the outer layer may be dried, the core is retaining its pulp.

Among the likely reasons for the temporary halt in bitcoin’s ascension was Dr. Craig Wright’s shocking confession. The Australian businessman and bitcoin entrepreneur made headlines when he told media sources that apparently he was the genius behind bitcoin; that he was the mastermind from the very beginning, and that he was the mysterious Satoshi Nakamoto. Naturally, the doctor was pressed for proof, which some feel he ultimately failed to provide. Wright eventually backed away from his statements, afraid of what further publicity might throw his way.

With the mystery behind Satoshi’s identity “temporarily solved,” many found themselves in a state of panic. The idea was to sell their bitcoins quickly to avoid the massive price decline that was expected to come with the news.

But the price decline never came, and Dr. Wright has disappeared from news platforms. As the hype died down, bitcoin crawled from its cage, reached towards the heavens and demanded its original status back. The coin has now jumped nearly $15, recovering from the press and emerging from the ashes as the stable, volatile currency that it is.

So we can be thankful, in this case, that bitcoin has a mind of its own. It came out of hiding right as the rage wore off, and those who kept their funds in light of the rough news can take pride in the fact that their wealth will expand once again.

Do you foresee a further advance in the BTC price? Post your thoughts and comments below!

Images couretsy of Venturebeat.com, RedBubble.

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Bitcoin is Back: Price Rises Nearly , Returns to 0