Bitcoin appears set for another bull run that could see it recover a significant portion of its lost value during the 2018 slump. An analysis of a technical indicator reveals a positive trend reversal for the top-ranked cryptocurrency.
Litecoin Leading the Altcoin Rally While Bitcoin Price Struggles to Pass $10K Barrier
Thursday July 18, 2019
Coinspeaker Litecoin Leading the Altcoin Rally While Bitcoin Price Struggles to Pass $10K BarrierIt seems that the crypto market started its recovery after the last few days being pretty much down. Altcoins such as Litecoin, Ethereum, and XRP have been capitulating at first, but started to recover. Bitcoin price, on the other hand, still seems […]
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Bitcoin Bull Run Imminent
According to Bloomberg, the RIG trend lines indicator points to an imminent price rally for BTC. RIG trend lines are technical indicators that combine both the relative strength index (RSI) indicator and momentum studies.
An examination of the indicator shows the momentum gauge intersecting the RSI gauge. When this happens, it is interpreted that a significant price rally is imminent. Whenever both gauges cross, BTC experiences a significant price rally.
Starbucks Rolls Out Its Diverse List Of Summer Lineup Drinks
Wednesday May 01, 2019
var pref_event_title_prefix = ‘AOL’; Starbucks Is Getting Ready For The Summer Signaling the warmer weather, Starbucks Coffee is offering customers new cool and refreshing drinks to satisfy any sweet tooth and coffee lover’s coffee obsession. As of late, the company has been focused on its cold options, like cold foam. Another chilled beverage innovation, Nitro
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The last intersection occurred in August. It signaled the start of an over 20 percent price surge that took BTC to above $7,300 by the beginning of September. If history repeats itself, then Bitcoin could be poised to test $8,000 by the end of October.
Bitcoin last reached the $8,000 price mark at the back end of July 2018. The cryptocurrency has floated between minor price surges and subsequent declines for most of the third quarter of the year.
Narrowing Volatility: A Sign of Better Things to Come
Bitcoin like the rest of the cryptocurrency market has declined over the course of the year. However, in the last three months, the volatility of the top-ranked coin has diminished considerably.
NBA Rumors: Sixers’ Markelle Fultz Interests This Team In Potential Trade
Friday December 14, 2018
Markelle Fultz’s inactivity hasn’t evaporated interest in his services. The Detroit Pistons have joined the race to acquire the Philadelphia 76ers point guard, the Detroit Free Press’ Vince Ellis reported Thursday, citing an NBA source. The Pistons inquired about the availability of Fultz, whom they believe might be a serviceable backup to Ish Smith and […]
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Some experts predict that a price breakout due to this shrinking volatility is imminent. Bitcoin bulls will be hoping that their analysis of the RIG trend lines is accurate which would mean another bull run.
Another Q4 Price Gallop in 2018
Elsewhere in the market, there are recent signs of a price renaissance for many cryptocurrencies. Ethereum, XRP, and Bitcoin Cash have experienced significant price rallies over the last few days.
Recently, Tom Lee predicted that Ethereum could reach $1,900 by the end of the year. According to the Fundstrat Global Advisors chief analyst, ETH has underperformed its top-ten peers by two standard deviations. Thus, a massive price surge is on the cards for the second-ranked cryptocurrency.
In recent years, Q4 has brought with it significant gains for the cryptocurrency market. Many stakeholders continue to hold out hope that Q4 2018 would follow this pattern of rapid price gallops.
What is your end of year Bitcoin price forecast? Let us know your thoughts in the comment section below.
Images courtesy of Bloomberg, Coinmarketcap and ShutterStock
The post Is Bitcoin Set for Another Bull Run – This Technical Indicator Says So appeared first on Live Bitcoin News.