Bitcoin

After Bitcoin halving, what could happen in terms of price?

Published

9 months ago

26 April, 2024

BlockChainGuardian Staff

After Bitcoin halving, what could happen in terms of price?

The long-awaited Bitcoin halving has taken place.

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In every major asset rally, there is a classic hockey stick shape created on that asset’s chart. It’s simply an exponential progression. Price growth piles on top of price growth at an accelerating rate and the chart is like the exhaust cloud from a rocket launch.

This is typically caused by FOMO, where buyers pile in, or perhaps lemmings jump off the cliff at an increasingly rapid pace. Obviously, at some point there will be no more buyers to imitate or lemmings at the top of the cliff to follow the leader to the rocks below. That’s when a bubble bursts.

Now, asset holders don’t like the word bubble because it suggests an ongoing crisis. Unfortunately, few bubbles escape this endpoint, and although Captain Hindsight types laugh, an asset’s bubble/crash phase is rarely anything other than the beginning of a long growth story. The biggest companies in the world are children of the dotcom boom, for example, and according to statistics even tulips are still a $250 million industry in the Netherlands, shipping 3 billion post-bubble bulbs.

So now bitcoin, and therefore crypto in general, is trading sideways in a high range between $60,000 and $70,000.

This is what holders want to see next:

The Bitcoin Chart Holders Want to See

Credit: ADVFN

And this is the determining equilibrium range:

The Bitcoin Chart Balance Range

Credit: ADVFN

So if you don’t have a strong opinion on the direction (and even if you do), the box that encloses this balance range is something to look at. This technique is an ancient method of technical analysis born in the 1950s, in a post-war technology bubble, when stock charts were the domain of people who controlled prices manually. It remains a great device for volatile upward price repricing/bubble situations. The box represents an equilibrium range reached after a repricing event, where the asset oscillates with incoming noise awaiting the next big move up or down. When it is repriced, it loses the noise and goes in one direction until it reaches a new equilibrium, and this is where bitcoin is now.

The final crypto recovery tends to occur after the halving and occurs because simply half of the new supply hits the market. The price jump has nothing to do with anything other than the fact that there are fewer new bitcoins coming into supply, so this pressure builds and builds until the market readjusts prices to the new reality. This suggests there is at least another upward surge to come.

If we don’t get another edge, I think it will signal the end of the crypto monster and the beginning of a new domesticated and regulated blockchain reality, with little chance of the fortunes of the past emerging overnight.

However, I think bitcoin has gone from $90,000 to $100,000 and even beyond, but that doesn’t mean destiny. So we sit and watch and wait for the next reassessment.

In fact, I see the following analysis as quite likely:

My analysis of what the future holds for the price of bitcoin

Credit: ADVFN

With the $100,000 level achievable on fundamentals, sentiment and round number logic. Many think the top is much higher, but I will certainly let them carry my bags for that final situation.

There is the next step, final or not, it is the only decision at this stage and overall I think there is. I still think that halving is fundamental and is a chronic factor and not an acute one. Either way, we have to watch the box range to judge whether bitcoin will rise like a rocket or fall like a stone.

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Bitcoin

‘This is huge’ — Billionaire Mark Cuban issues ‘incredible’ Bitcoin and crypto prediction amid price slump

Published

6 months ago

1 August, 2024

BlockChainGuardian Staff

'This is huge' — Billionaire Mark Cuban issues 'incredible' Bitcoin and crypto prediction amid price slump

Bitcoin
Bitcoin
came back with a vengeance this year when former President Donald Trump Cryptocurrency boosts US presidential election in November with ‘revolutionary’ plan.

Subscribe now to Forbes CryptoAsset and Blockchain Consultant and “discover blockchain blockbusters poised to generate 1,000%+ gains” after the bitcoin halving earthquake!

The price of bitcoin has surged to more than its all-time high in recent months, surpassing $70,000 per bitcoin and triggering a wave of mega-optimistic predictions about the price of bitcointhough it fell again this week, falling below $65,000 after the Federal Reserve kept interest rates steady.

Now, as Elon Musk suddenly breaks his silence on bitcoin and cryptocurrenciesBillionaire investor Mark Cuban called a California plan to digitize 42 million car titles using blockchain an “incredible step forward” and “huge” for cryptocurrencies.

Sign up for free CryptoCodex now—A daily five-minute newsletter for traders, investors, and crypto curious people that will keep you up to date and ahead of the bitcoin and crypto bull market

ForbesElon Musk Suddenly Breaks His Silence On Bitcoin After Issuing Shocking Warning Of US Dollar “Doom” That Could Trigger Cryptocurrency Price BoomBy Billy Bambrough

Mark Cuban, famous Shark Tank investor and billionaire owner of the NBA team Dallas Mavericks, has… [+] called a cryptocurrency update “amazing” amid bitcoin’s price slump.

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The California Department of Motor Vehicles (DMV) has digitized 42 million car titles using blockchain, it was reported by Reuters, through technology company Oxhead Alpha on the Avalanche blockchain and designed to detect fraud and facilitate the securities transfer process.

“This is an incredible development for crypto,” Cuban, best known as an investor on TV’s Shark Tank and owner of the Dallas Mavericks NBA team, posted on X, joking that U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler could sue the state as part of his hostility toward cryptocurrencies and blockchain technology.

“The reason this is huge for crypto is because people who hold the tokens will have an app with an Avalanche wallet,” Cuban said. “Tens of millions of Californians having and using a crypto wallet in the next five years, or however long it takes, normalizes the use of wallets and crypto.”

John Wu, president of Avalanche developer Ava Labs, told Reuters that California’s DMV is “creating a wallet that you can download on your phone.”

Sign up for CryptoCodex now—A free daily newsletter for the crypto-curious

ForbesCryptocurrencies Are Suddenly Bracing For A ‘Very Major’ U-Turn In China After Wild Price Swings For Bitcoin, Ethereum, XRPBy Billy Bambrough

Bitcoin’s price has rallied this year, triggering a wave of bullish bitcoin price predictions from… [+] people like billionaire Mark Cuban.

Forbes Digital Assets

Last month, Cuban predicted that if the US dollar falls as the global reserve currency, bitcoin could become “a global ‘safe haven’” and a “global currency.” potentially sending the price of bitcoin to a much higher level.

According to Cuban, bitcoin could become what its most ardent supporters “envision” — a means “of protecting our economies… This is already happening in countries facing hyperinflation.”

The price of bitcoin has skyrocketed over the past year, largely due to the world’s largest asset manager, BlackRock, leading a bitcoin attack on Wall Street.

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Bitcoin

MicroStrategy’s Cash Flow Amid Bitcoin Rally Raises Some Eyebrows

Published

6 months ago

1 August, 2024

BlockChainGuardian Staff

MicroStrategy’s Cash Flow Amid Bitcoin Rally Raises Some Eyebrows

Analysts are starting to pay more attention than usual to Bitcoin-proxy’s underlying enterprise software business MicroStrategy Inc.

How to better invest cash generated from operations is what originally prompted co-founder and CEO Michael Saylor to turn to Bitcoin four years ago. Since then, the Tysons Corner, Va.-based company has adopted a two-pronged strategy of investing in the cryptocurrency instead of traditional assets like short-term Treasuries and ramping up its software operations.

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Bitcoin

Large Bitcoin (BTC) Holders Added $5.4 Billion Worth of BTC in July, Data Shows

Published

6 months ago

1 August, 2024

BlockChainGuardian Staff

Large Bitcoin (BTC) Holders Added $5.4 Billion Worth of BTC in July, Data Shows

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Bitcoin

Bitcoin (BTC) Hits Six-Week High After Trump’s Pro-Crypto Speech

Published

6 months ago

1 August, 2024

BlockChainGuardian Staff

Bitcoin (BTC) Hits Six-Week High After Trump’s Pro-Crypto Speech

Bitcoin has retreated from a six-week high as investors shift their focus to speculation the U.S. may sell seized tokens just days after Donald Trump vowed to create a government stockpile of the cryptocurrency if he is elected president again.

The US transferred $2 billion worth of Bitcoin to a new digital wallet address on Monday, blockchain research firm Arkham said in a publish on social media platform X. Market analysis firms have speculated that the tokens are from the Silk Road marketplace, where customers used virtual currencies to buy illegal drugs and hacking tools before it was shut down.

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