Dec 10, · Bitcoin is trading at $18, at the time of writing, amid consistent attempts by the bulls to extend the bullish leg toward $19, (50 SMA). The Relative Strength Index confirms a short-term. Dec 11, · While the short-term forecast is bearish, the long-term predictions are still bullish. Tyler and Cameron Winklevoss, owners of Gemini Exchange, are bullish that Bitcoin would one day be worth. “Bull bias might be at an all-time high, but the bitcoin options market is almost permanently bullish. With bitcoin now flirting with $16,, it’s possible this spike in bullish sentiment comes.
Bitcoin market bullishBitcoin Price Prediction: $20, Breakout Expected As MCTC Signals Bullish Run, Report Suggests
Ripple , like Bitcoin , is trading within a descending parallel channel as observed on the 4-hour chart. All the effort is now channeled to breaking above the upper boundary, which coincides with the 50 SMA. The expected breakout will be invalidated if XRP closes the day below the channel's middle boundary support. It is worth noting that XRP is not out of the woods yet despite the recovery over the last 24 hours.
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All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. At last check, Bitcoins changed hands on CoinDesk, down 2. Bitcoin has been a traditionally volatile asset since its inception, but if those observing the closely followed cryptocurrency are looking for reasons for its recent drop, market participants were pointing to at least three key factors:.
On Wednesday , Armstrong implied that the U. Treasury Department my attempt to push through tightened regulation before the Trump administration leaves office. A chart published on Friday by Bespoke Investment Group highlights on key fact that those who are new to bitcoin must get accustomed to: its traditional volatility. Although bears might use this current retreat as a cautionary tale of why bitcoin is a problematic asset, many continue to hold the asset on hope of a more bullish horizon for cryptos.
That said, it might be a feather in the cap of proponents of digital assets at a time when virtual currencies are drawing greater mainstream appeal. Those apparent endorsements highlight a growing focus by institutional investors into bitcoin as a legitimate alternative to fiat currency or other assets used to hedge their exposure to conventional investment instruments.
To be sure, bitcoin and its conterparts, critics warn, could still tumble to zero and therein lies the intrigue and potential peril of digital currencies. Mark DeCambre is MarketWatch's markets editor. He is based in New York. Follow him on Twitter mdecambre.