Words like price pump, explosion and majority profit, used to describe bitcoin price movements, is music to the ears of digital asset investors betting on the BTC. Bitcoin halving which will occur soon is a usual suspect for positive BTC price sentiments. As we will discuss in Bitcoin news now and BTC price predictions, bitcoin price rally has more to it this time around.
Bitcoin Price Spikes in Minutes – Bitcoin News Today – Latest BTC News
In the early hours of Monday, August 26, 2019, the price of bitcoin (BTC) made a remarkable upward movement that has surprised BTC observers. BTC price surged from around $10,100 to just over $10,500 in a few minutes, literally. That is about a 5% gain in a few minutes.
Analysts have gone to work figuring out the cause the incident, which has now resurrected talks of bitcoin volatility. Early suggestions coming through is that the US-China trade which was recently escalated must have played a role. As reported by crypto news outlet NewsBTC, a cryptocurrency trader who goes by the pseudonym “Crypto Dog” is claiming China’s devaluation of its currency affected the BTC price. “Chinese need to dump RMB faster if corn is going to pump,” CryptoDog wrote in a recent tweet referring to the BTC spike.
Bitcoin Halving and Economic Woes to Drive BTC bull run.
The idea of a bitcoin growth in event of economic problems like the US-China scenario is a popular one among bitcoin maximalists. What’s equally popular is the belief that a bitcoin halving which is approaching will reduce the supply of BTC and up its price as a result.
Bitcoin Price Analysis – BTC Price Today – BTC to USD
At the time of writing, Bitcoin is valued at $10,346 dropping from a 24-hour peak of $10,512 according to data from CoinMarketCap. Despite this drop, BTC price is still about 1.3% up from yesterday but 3.3% down week-on-week.
Latest Bitcoin Price Prediction 2019
As Smartereum reported, Bitcoin has enjoyed some positive sentiment despite its failure to crack $11,000 during its last rally. Pointers like BTC’s record-making hash rate, the participation of institutional investors, the anticipated bitcoin halving, high bitcoin dominance ratio and the increasing signs of economic woes have led analysts to suggest that a major bitcoin bull run is not far away.
Technical Analysis Points to An All-Time High BTC Price Rally – BTC Price Forecast – BTC Price Analysis
It is looking like another 2017-styled bitcoin rally according to one bitcoin trader and technical charts analyst. Murad Mahmudov, a founding partner at Adaptive Capital recently told his followers that bitcoin is in a bull market and suggested we could see prices that will surpass the peak of 2017. First, the Goldman Sachs alumnus allayed fears about a “bear cross” of Moving Average Convergence Divergence (MACD) forming on the BTC charts.
“People out here be talking about the Weekly MACD ‘bear cross’ like its some kind of a doom verdict. Ironically it marked the local bottom every single time during the last bull cycle. I repeat for the last time. This is a BUL
Riccardo Lopp is a writer specializing in Crypto, ethereum and whole blockchain ecosystem. His background is in economics and statistics.