Over 49% Bitcoiners Believe the Bitcoin Price is Going to a $1 Million Dollars in the Next Decade

  • BTC ready to end 2019 with 92.5% and the decade at about $7,200
  • Currently, the market is in consolidation meaning “weak die off but the strong get stronger”
  • BTC will print a trend reversal if it closes above $7,800 until then the price will range

We are just a step away from entering into 2020 and Bitcoin is going to end the year at a positive return of 92.5%.

At the time of writing, BTC/USD has been trading at $7,200. Meanwhile, as the holidays continue, trading volume continues to sink as in the past 24 hours, Bitcoin recorded a trading volume of a mere $254 million.

So, what season is it exactly?

Mati Greenspan, founder of investment firm Quantum Economics in his Monday newsletter notes that after turning into spring at the beginning of this year from 2018’s crypto winter, now we are simply in consolidation.

And what it means is,

“The weak die off but the strong get stronger. It’s the way of nature and though may seem painful at times is actually a positive progression.”

As we reported, analyst Willy Woo has called it a “re-accumulation phase of a bull market.” Su Zhu of Three Arrows Capital also made an accumulation observation.

BTC Trend Reversal Patterns in the Making

Meanwhile, trader Josh Rager says we need to break above $7,800 and close above that for the market to signal a trend reversal.

“Until then, price continues to range with possible accumulation (over five weeks in this range),” added Rager.

Trader Jonny Moe also notes two potential BTC reversal patterns in progress, double bottom with a neckline at about $7,875 and inverse head and shoulders with a neckline at $7,700.

Along with this is another positive facet which is “year-end is traditionally a very important time for BTC trend reversals/confirmations.”

Also, we are seeing a miner capitulation completion signal that has occurred only a handful of times, 9 times in Bitcoin’s history.

“Hash Ribbons Buy confirmed. This is just the 10th time these conditions have been met for Bitcoin. It is highly likely we never see BTC under $6000 ever again. All other occasions saw an average gain-to-cycle-peak of +5000%,” points out Charles Edwards of digital asset management firm Capriole.

However, Moe warns that none of these positive signals matter until we break the necklines of $7,875 and $7,700.

Bitcoin to $1 Million

In the short term, Bitcoin has a lot of pain and gain coming its way but in the long term, people see it jumping past a million dollars.

A poll run by Greenspan on Twitter found that a staggering 49.2%, almost half of the 2,854 respondents believe that Bitcoin will be worth more than $1 million by the end of the decade.

It won’t be a big feat for Bitcoin, given that it has been the best performing asset of the decade already.

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Author: AnTy

Ripple Consolidates its xRapid, xCurrent and xVia Features Under One Network; RippleNet

Ripple recently announced the consolidation of its services within RippleNet offering. The blockchain-oriented firm known for its convenient transfer features in the blockchain ecosystem made these changes to enhance service delivery to clients.

The New Ripple Network Outlook

A spokesman from Ripple noted that besides the change of name, the firm had sought to make its xRapid, xVia and xCurrent features more accessible. As a result, clients will now be able to use xVia and xCurrent on-premises in addition to cloud services. This will be an improvement from the current design that requires prospective clients to buy the features. Furthermore, Ripple’s xRapid technology will leverage the on-demand liquidity that comes under RippleNet offering.

According to Ripple’s sentiments, the strategy to consolidate under one network is a step in the right direction as the market evolves. One of the most notable reasons is a demand in the firm’s services that has seen its user base grow hence the need for a standard development that competes favourably.

Ripple’s Decentralization in Question!

The project has however had its fair share of criticisms with players in crypto attacking the fundamentals of Ripple’s decentralization. This has put the firm in a defensive position over its growth journey. Brad Garlinghouse, Ripple’s CEO, recently said the nature of Ripple’s transparent ecosystem is what has attracted many critics. He added that there exists a lot of misinformation about Ripple’s products amongst the crypto community which can be partly attributed to their success in creating a highly transparent network.

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Author: Lujan Odera

WAVES Price Prediction Today: Daily (WAVES) Value Forecast – June 5

Waves-is-Looking-to-Raise-a-Whopping-USD-120-Million-Via-its-Private-Funding-Round
  • WAVES/USD trade has been moving in a consolidation manner to the south.
  • Placing or joining the WAVES/USD market now seems to call for an indecision trading psyche.

WAVES/USD Medium-term Trend: Bearish

  • Distribution territories: $2.80, $3, $3.20
  • Accumulation territories: $2, $1.80, $1.60

Waves price valuation hasn’t been able to come out of the slight selling pressure been exerted on it by the US dollar. As at now, the market movements to the south have been slowing down around the Bollinger Lower Band’s trend-line.

The 50-day SMA is located over the Bollinger Middle Band with a small space between them. The Stochastic Oscillators are now consolidating around range 20 to indicate that the downward market movement seems not to have been exhausted fully.

The cryptocurrency may soon begin a pull-up moving style to find a price point around the Bollinger Middle Band and the 50-day SMA that could suit the bears’ entry once again.

WAVES/USD Short-term Trend: Ranging


In the short-term run of the WAVES/USD market, price line has been dominated by a different number of lower lows than lower highs. The reason for that is justifiable by the fact that most of the crypto’s trading operations have been carried out below the trend-line of the 50-day SMA indicator.

The Bollinger Bands are as well flatly trending toward the east direction. The Stochastic Oscillators now attempting to crosshairs at range 40.

The market may continue to rise and fall in a range moving manner as long as the 50-day SMA is located over the market trading area. However, a break out of the SMA indicator could be an important notification that the bears would be losing out in energy in near time.

Waves:

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

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Author: Azeez M