Adam Rozencwajg of Goehring and Rozencwajg, a fundamental research firm specializing in contrarian natural resource investments, forecasts a sustained bull market for gold, driven by increasing geopolitical tensions, central banks’ efforts to de-dollarize, and escalating inflation risks. He predicts that gold prices could reach ,000 to ,000 per ounce, supported by unprecedented central bank purchases, […]
Bitcoin News
Kickstarting The Bitcoin Bull Run: Expert Says $70,000 Is The Level To Beat
Crypto expert Michael van de Poppe has outlined an important price level from which Bitcoin must break out. He claims that once it achieves a successful breakout, the flagship crypto will see a new all-time high (ATH).
Bitcoin Needs To Break Through ,000
Van de Poppe mentioned in an X (formerly Twitter) post that Bitcoin needs to break through ,000 on the lower time frame (LTF) basis. Once that happens, the analyst claimed that Bitcoin will likely see a new ATH.
He also noted that lower timeframe regions at ,000 were holding. Meanwhile, he highlighted Bitcoin’s long consolidation, stating that almost three months have passed since the crypto token remained in that range. .
However, the crypto expert believes that Bitcoin will likely remain stuck in this range for a “substantial period,” with the flagship crypto possibly trading lower. This is because he foresees a rotation from Bitcoin towards Ethereum and other altcoins, which will cause the flagship crypto not to move to the upside.
This long consolidation period was expected from BTC. Arthur Hayes, the co-founder and former CEO of BitMEX, predicted that the crypto token would continue to range between ,000 and ,000 until August. Crypto analyst Rekt Capital has also repeatedly mentioned that Bitcoin will face such a long consolidation period, which he claimed is good for Bitcoin.
He noted how the flagship crypto hit a new ATH before the halving event brought about an accelerated cycle. However, a long consolidation period means Bitcoin is trying to resynchronize with previous halving cycles. He suggested this is better since it will make the bull run longer. Rekt Capital claimed If it successfully resynchronizes with the previous bull cycles, Bitcoin will peak sometime in September or October next year.
In a recent X post, Rekt Capital mentioned that “there is still scope for additional consolidation at these highs” but added that the time left in this phase “is slowly running out.” The chart the analyst shared suggested that Bitcoin simply needs to break out from the ,000 range before it enters into the ‘parabolic uptrend’ phase.
BTC May Be Headed To ,000 Next
Crypto analyst Mikybull Crypto recently suggested that Bitcoin could be headed to ,000 on its next leg up. He revealed that the flagship crypto had broken out of an inverse head and shoulders pattern and was currently “bull flagging for the next move.” He highlighted ,000 as the price target for this next move.
In a subsequent X post, he claimed that BTC retesting its support level might be the next step before this “explosive rally” finally happens. Bitcoin potentially rising to ,000 is significant as it could clear the road for the flagship crypto to hit 0,000. Crypto analyst Crypto Jebb previously mentioned that there is a “great degree of likelihood” that Bitcoin would rally to 0,000 should it break its current ATH of ,800.
Analyst Predicts An “Ultra Bull” Scenario For Bitcoin That Could Send Price To $80,000
A crypto analyst has forecasted an “ultra bull scenario” for Bitcoin, highlighting key support levels and technical patterns that suggest a price rally above ,000 in this market cycle.
Bitcoin Could See Upside Above ,000
In a recent X (formerly Twitter) post, a crypto analyst identified as ‘CrediBullCrypto’ has doubled down on his previous prediction of an ultra-bull scenario for Bitcoin in the future. The analyst’s insights on Bitcoin’s recent activities suggest that the downside risk may be less significant than previously anticipated, paving a bullish path for a massive upside for Bitcoin.
Sharing a graphical chart of Bitcoin’s price actions from April to May 2024 in a YouTube video, Credibull Crypto predicted that Bitcoin could see its price rising above 0,000 in this projected ultra-bull scenario. The focal point of his analysis was based on the Open Interest (OI) in Bitcoin’s perpetual futures on Binance, the world’s largest crypto exchange.
According to the crypto analyst, Open Interest has reached 78,000 BTC, significantly higher than its baseline of 64,000 BTC. CrediBull Crypto revealed that this current Open Interest was in a danger zone. This is because the 14,000 BTC difference typically indicates elevated market activities, which often precede volatile price movements.
Additionally, the CrediBull Crypto revealed that a single unidentified Bitcoin whale was responsible for approximately 10,000 BTC of the increased 14,000 BTC Open Interest. This means that the anonymous whale controls 70% of all the added Open Interest on Binance perpetual futures since the baseline.
He also disclosed that in the scenario where the anonymous whale can withstand 10% to 15% downward pressure without liquidating their assets, the actual available Open Interest that would be vulnerable to a decline would be only 4,000 BTC, instead of the initial 14,000 BTC addition. The analyst revealed that out of the 4,000 BTC, some would be directional shorts, noting that the net long positions at risk would be even lower.
Given this theory, CrediBull Crypto argued that the potential for a downside is more limited. As a result, the ultra bull scenario where Bitcoin’s price surges to new all-time highs was worth considering.
Potential Retracement Towards ,000
In his YouTube video, CrediBull Crypto also highlighted a potential retracement slightly above the ,000 price mark. The analyst predicted a bearish scenario, where Bitcoin could see its price falling significantly towards ,000 to ,000.
At the time of writing, Bitcoin’s price is trading at ,774, reflecting a 0.08% decrease in the last 24 hours, according to CoinMarketCap. CrediBull Crypto disclosed that Bitcoin had failed to break through key resistance levels above ,000.
He predicts that consistent declines and liquidations could potentially trigger a bottom below ,000. However, he also revealed that such a bearish turnaround was highly unlikely at this time, as Bitcoin’s price movements currently indicates an ultra bullish scenario.
Analyst: Gold Demand From China Continues Supporting the Bull Market
Jan Nieuwenhuijs, a gold market analyst, has assessed the state of the gold market, reporting that growing demand from both the private market and the People’s Bank of China (PBOC) has been instrumental in the rise of gold prices. Chinese private investors purchased 543 tonnes during Q1, while the PBOC acquired 189. China Continues Propping […]
Bitcoin News
Bitcoin Seen Breaching $73,000 As ‘Bull Run’ Looms, Analyst Says
After a two-month breather near its all-time high, Bitcoin (BTC) appears ready to unleash another haymaker, according to crypto analyst Axel Adler. Adler predicts a 300-day bull run fueled by healthy short-term holder profits and a market with plenty of fight left in it.
Profitable Punches And Room For More
Adler throws down the gauntlet with data on Short-Term Holder Spent Output Profit Ratio (STH SOPR). This metric reveals if short-term holders are cashing out at a profit.
Currently, the 90-day moving average for STH SOPR sits at 1.015, indicating short-term holders are in the green but haven’t reached the knockout blow levels seen in previous bull runs (around 1.06). This suggests there’s room for more profit-taking punches before the bulls grow weary.
I’ve already mentioned that the bull market is in full swing. Barring any unforeseen Black Swan events, it could last for approximately another +/- 300 days.
This is based on the P&L analysis of Short-Term Holders with a 90-day moving average. pic.twitter.com/30OgsruvOi
— Axel
Adler Jr (@AxelAdlerJr) May 21, 2024
Open Interest: The Untapped Reserve Of Strength
Another weapon in the bull’s arsenal is Open Interest (OI), a metric reflecting the total amount of outstanding derivative contracts (futures and options) held by traders.
While the recent price surge has been impressive, the 7-day moving average for OI hasn’t witnessed the dramatic rise seen in prior bull runs. This, according to Adler, signifies a hidden reserve of strength in the market, with more firepower waiting to be unleashed.
Technical Edge: Bulls Have Momentum On Their Side
But technical analysis isn’t just about fancy ratios and cryptic charts. Adler identifies several technical indicators that paint a bullish picture. The Relative Strength Index (RSI), a gauge of momentum, hasn’t broken past 70, a level often associated with overbought conditions.
This suggests the current rally is healthy and sustainable. Additionally, the Chaikin Money Flow (CMF) has surged past positive 0.05 territory, indicating significant capital inflow and a growing appetite for Bitcoin among investors.
Can The Bulls KO Resistance Levels?
While the bulls seem to have the upper hand, there are still hurdles to overcome. Key resistance levels loom at k, k, and k, identified using Fibonacci extension levels. These price points could act as roadblocks for the surging Bitcoin price.
However, if the current momentum continues, these resistance levels could be shattered, paving the way for a potential retest of the all-time high at ,700 and a possible upward motion beyond.
Featured image from Screen Rant, chart from TradingView
Market Analyst Michael Oliver: Gold Is Entering a ‘Generational Event’ Bull Market Trend
Michael Oliver, the proprietor of Momentum Structural Analysis (MSA) – a research firm specializing in detecting momentum-based movements – believes the recent gold bull market rally might differ from the other gold rallies. Oliver stated that due to several factors, not investing in gold could mean missing “what will likely be a generational event.” MSA […]
Bitcoin News
Shiba Inu Breaks Out Of Bull Flag Pattern-Like, Signaling Uptrend
In a noteworthy development for Shiba Inu investors and traders, well-known cryptocurrency analyst and enthusiast Javon Marks has verified SHIB’s break out from the Bull Flag pattern, an indicator that typically signals the start of an upward price movement.
Shiba Inu Breakout To Trigger A Continuation 210% Price Increase
Mark’s emphasis delves into the current bullish momentum surrounding Shiba Inu, which has caused traders and investors in the meme coin market to feel optimistic once again, indicating that the crypto asset could be positioned for more gains.
According to the expert, SHIB has now exited a smaller Bull Flag-like pattern, and it is currently holding above it. This breakout appears to be significant as Javon Marks noted that it could start another major wave in an already enormous run on the upside.
Specifically, this lesser break can trigger a continuation in an over 210% (3X) run to .000081 from the .0000254 level, provided that the larger breakout also holds. In addition, should Shiba Inu surpass the .000081 level, it might be poised for an additional 90% increase to the .0001553 mark.
The post read:
With a larger breakout also holding, this smaller break can initiate a continuation in an over 210% run to the .000081 target which is more than 3X from here. A break above .000081 and SHIB may just be set for another +90% move to .0001553.
The analyst further drew attention to his previous forecasts, in which he predicted a run to the .000081 price level. He previously noted that Shiba Inu has made a strong comeback and appears to be primed for yet another huge surge towards the .000081 target.
Thus, given the progressive breakout from the resisting trend, another 141% upside move to hit the aforementioned price target may not be far off. Also, following price declines, SHIB will garner strength to reach the level and move even higher to .0001553.
Pullbacks To Buttress The Move
Javon Mark affirms that since SHIB’s break out from the resisting trend, it has increased by over 129%, suggesting that a run is well within reach. At this point, Marks claims that as long as current prices maintain their breakout, pullbacks might only enhance these prices. Additionally, an extra 252% price increase toward .000081 will be aided by these pullbacks.
It is important to note that the analyst’s prediction began when SHIB ended a 441-day downtrend in September last year. Given the significance of the development, Marks believed SHIB was about to surge, putting his target at .000081, a 975% rise from .0000074.
As of the time of writing, Shiba Inu was trading at .0000257, demonstrating over 6% growth in the past day. Both its market cap and trading volume have also attracted significant gains of about 6.83% and 147%, respectively.
4 Key Reasons Why The Bitcoin Bull Run Is Far From Over
In an analysis shared via X, renowned crypto analyst Ted (@tedtalksmacro) has provided compelling evidence to support his assertion that the current Bitcoin bull run is far from over. Ted’s insights are based on four critical indicators related to traditional finance and crypto liquidity, each pointing to sustained growth in the near future. Here’s a breakdown of his analysis:
#1 65-Month Liquidity Cycle
Ted highlights the 65-month liquidity cycle, a historical pattern that marks the ebb and flow of liquidity in financial markets. According to his analysis, this cycle bottomed out in October 2023, signaling the beginning of a new expansion phase.
“We are now in the expansion phase, which is expected to peak in 2026,” Ted stated. This projection aligns with the anticipated easing by central banks in response to slowing economic data over the next 18 to 24 months. Historically, increased liquidity has been a precursor to bull markets in various asset classes, including Bitcoin and the broader crypto ecosystem.
#2 M2 Money Supply
The M2 money supply, which includes cash, checking deposits, and easily convertible near money, is another crucial indicator, if not the most important indicator of global liquidity. Ted notes that the rate of expansion in the M2 money supply is at its lowest since the 1990s.
“There is plenty of room to the upside for easing liquidity conditions,” he explained. As central banks potentially ease monetary policies to stimulate economies, increased M2 growth could lead to more capital flowing into risk assets like Bitcoin.
#3 Crypto Liquidity
While liquidity has returned to the crypto markets, particularly with the introduction of spot Bitcoin ETFs, Ted points out that the velocity of inflows has not yet reached the levels seen at cycle tops. “The velocity of inflow has not yet seen a manic phase consistent with cycle tops,” he noted.
This suggests that while interest and investment in Bitcoin are growing, the market has not yet reached the speculative frenzy that typically precedes a major correction. This phase of measured inflow can provide a more stable foundation for continued price increases.
#4 Spot Bitcoin ETF Flows
The US based spot Bitcoin ETFs have seen significant inflows, with last week alone witnessing 0 million flowing into spot Bitcoin ETFs in the US, the largest net inflow since March. Ted expects these inflows to increase as Bitcoin’s price rises and traditional finance investors regain confidence in the asset.
“Expect these to only increase as price drifts higher and tradFi once again renew faith in the asset,” he stated. The growing acceptance and investment from institutional investors via ETFs are a strong bullish indicator for Bitcoin’s continued ascent.
Each of these factors points to a sustained and robust bull market for Bitcoin. Ted’s analysis, grounded in traditional financial indicators and crypto-specific data, provides a comprehensive outlook on the current and future state of the Bitcoin market. As central banks potentially ease monetary policies and institutional interest continues to grow, the conditions appear ripe for Bitcoin’s bull run to extend well into the coming years.
At press time, BTC traded at ,602.
Cryptoquant CEO Predicts Bull Run Midpoint as Bitcoin Recovers
The price of bitcoin experienced a challenging May, dipping below ,000 to reach a low of ,500 per unit on May 1, 2024. Currently valued at ,900 per unit, bitcoin’s price is showing improvement as June approaches. The founder of the onchain and market data platform Cryptoquant has noted that the bull run is at […]
Bitcoin News
Crypto Analysts Reveal Sub-$1 Altcoins Set To Outperform In The Bull Run
With the Bitcoin price having already seen a massive rally over the past year, crypto investors have turned their attention to altcoins. This is because altcoin season usually comes after Bitcoin finishes rallying and they present more potential for upside. Ahead of the second leg of the crypto bull market that is suppose to happen sometime this year, the crypto analysts at Analyst Buzz have revealed the top altcoins that are trading under right now that could be a good buy.
Still Bullish On Polygon’s MATIC
The first of the altcoins featured on the list is Polygon’s MATIC. This comes as a surprise, as MATIC has been one of the only top altcoins that has failed to see any kind of outperformance in the last year. However, this could be part of the reason why the analyst feels the altcoin is set to outperform.
Despite rallying in the last day, the MATIC price is still down more than 75% from its all-time high price of .92. This is in start contrast to larger cryptocurrencies such as Bitcoin and Ethereum, which have either broken a new all-time high or come close to it this year.
Ondo Finance Still A Top Contender Among Altcoins
Ondo Finance has been making waves this year, and despite being relatively new compared to the other altcoins on this list, its performance has been among the top movers. The cryptocurrency was pushed into the limelight following its partnership with trillion-dollar asset manager BlackRock.
In 2024 alone, the coin has seen an over 1,000% gain, going from .08355 to over before correcting back downward. But despite this, the crypto analysts expect the altcoin to continue to perform well going into the bull run.
Oasis Network (ROSE) Makes List Of Altcoins With Potential
Oasis Network’s ROSE also makes it into Altcoin Buzz’s list of altcoins set to outperform in the bull market. This Layer 1 blockchain project had flown under the radar during the bear market, which eventually saw its price fall around 90% from its all-time high of .59.
However, the price of ROSE is beginning to pick up now and is currently trading at what many call a steal at .091. Unlike the altcoins already mentioned, the ROSE market cap is still under billion, which gives it a lot of room to run during the crypto bull market.
Golem (GLM) Is Still In The Game?
Featuring among the list of altcoins with the potential to outperform in the crypto bull market is GLM, the native token of the Golem platform. Golem has been in the crypto market for a while but it is only now that it is making its play as AI and computing become a leading narrative in the market.
The project features a peer-to-peer distributed computing resource which allows users to interact directly with each other. As computing becomes an even hotter narrative, Golem could very well be a great investment.
GLM is currently down around 57% from its .25 all-time high after a rather eventual start to 2024. Just like Oasis Network (ROSE), its market cap is still under billion, making it one of the altcoins with the potential to run hard.