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Bitcoin Price Prediction: BTC/USD Downsizes Against $35,000 Level

Bitcoin Price Prediction – June 7The aftermath consequent range trading situation between Bitcoin as paired with the US Dollar has currently led the crypto market […]

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Bitcoin Price Prediction – June 7
The aftermath consequent range trading situation between Bitcoin as paired with the US Dollar has currently led the crypto market to downsize against the $35,000 level. Price is now trading around $34,587 at a reduction of -3.60 percent.

BTC/USD Market
Key Levels:
Resistance levels: $40,000, $45,000, $50,000
Support levels: $30,000, $25,000, $20,000

BTC/USD – Daily Chart

The BTC/USD chart shows that the recent lower trading zone currently witnessing the crypto market downsizes against $35,000 level to the south. Today’s session now appears with a higher falling pressure that has put the market on the verge of getting to see lower values. The bearish and the 14-day SMA trend-line are located underneath the 50-day SMA indicator. The Stochastic Oscillators have crossed southbound from the overbought region to point south-direction in support of the current ongoing sell-off of the crypto trade situation.

The current downsizes against the $35,000 level, could it push further into bearish trend resumption?

There is every tendency of seeing the BTC/USD market downsizes against the $35,000 level while bulls fail to hold their stance against the current pressure inflicted on the market by the US Dollar. A sustainable forceful breakdown of the point is most needed to be able to have a clearer picture in confirmation of that technical assumption. In the course of that presumed scenario, bulls are enjoined to patiently wait for either a notable price reversal movement or a formation of a bullish candlestick stemming up from a dip trading zone of the market afterward.

The breaking down of the lower point of $35,000 may potentially on a gradual moving mote put the crypto further under variant falling pressures. The Stochastic Oscillators’ southbound crossing averaging range 40 signifies that a degree of tangible selling pressure is ongoing. As a result, traders needed to have taken an advantage of the market to have entered a sell order position earlier around the mid-point of the recent lower range market level.

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BTC/USD 4-hour Chart

On the medium-term chart, the BTC/USD market’s price downsizes against its main lower range trading level of $36,000 as the $40,000 upper range line is now seen above all the SMAs. The bearish trend-line moved down across the 50-day SMA indicator to closely place near over the 14-day SMA trend-line at the point of current active falling forces of the market. The Stochastic Oscillators have crossed the lines southbound briefly past range 40 to signally back the possibility of seeing the drawdown move getting strengthened. At this point, all buying sentiments may have to be suspended for a while. But, on the contrary, A strong reversal bearish move against the level of $36,000 may in most cases signify a return of an upward move to decimate the present downward force.

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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://insidebitcoins.com/news/bitcoin-price-prediction-btc-usd-downsizes-against-35000-level

Blockchain

Michael Burry Warns of the ‘Greatest Speculative Bubble of All Time’

Legendary investor, Michael Burry who once called out on the housing bubble is back saying markets are in the biggest bubble in history.

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Legendary investor, Michael Burry who once called out on the housing bubble has posted yet another warning about speculative assets like cryptocurrencies and meme stocks in a now-deleted tweet.

Michael Burry Warns of the ‘Greatest Speculative Bubble of All Time’

After deleting all his tweets just over two months ago, investor Michael Burry is back saying markets are in the biggest bubble in history.

Tweeting the hashtag #FlyingPigs360, in reference to an old Wall Street phrase: “Bulls make money, bears make money, but pigs get slaughtered,” which is used as a caution against greed.

Burry has warned that investors are more greedy now, speculating unrealistically, and chasing unrealistic wild returns, pointing to the excessive leverage used in the cryptocurrency market.

READ  Ark Investment Invests $20 Million in Grayscale Ethereum Trust Shares

“People always ask me what is going on in the markets. It is simple. Greatest Speculative Bubble of All Time in All Things. By two orders of magnitude. #FlyingPigs360.” he tweeted

Back in early April, Michael Burry had deleted his Twitter account after flagging the Tesla stock, which he is short along with GameStop, Bitcoin, Dogecoin, Robinhood, SPACs, inflation, and the broader stock market. He resumed twitter tweeting again on June 14.

Burry Compared the Hype Around Bitcoin to the Dot-com and Housing Bubbles

Burry even compared the hype around Bitcoin, electric vehicles, and meme stocks to the dot-com and housing bubbles and said earlier this year that the stock market was “dancing on a knife’s edge.”

Burry is most known for spotting the mortgage crisis ahead of time and making a fortune against the U.S. housing bubble.

READ  Tron [TRX] Beats Bitcoin [BTC] in Number of Transactions Within 300 days of launch

Back in February, he joined the inflation debate, making a comparison to the 1970s period warning investors to brace for inflation while pointing to a boom in demand due to the fiscal stimulus being injected into the economy, saying:

“The U.S. government is inviting inflation with its MMT-tinged policies. Brisk Debt/GDP, M2 increases while retail sales, PMI stage V recovery. Trillions more stimulus & re-opening to boost demand as employee and supply chain costs skyrocket.” he tweeted in February.

#Crypto Market #Michael Burry #Speculative Bubble

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.cryptoknowmics.com/news/michael-burry-warns-of-the-greatest-speculative-bubble-of-all-time

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Blockchain

Virtual Real Estate in Ether Metaverse Game Decentraland Sold for $913K

Republic Reals have recently set a new ATH value LAND sale for Decentraland, an open-world crypto metaverse game based on Ethereum.

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Republic Reals have recently set a new ATH value LAND sale for Decentraland, an open-world crypto metaverse game based on Ethereum. The virtual plot of real estate was sold as an NFT in Decentraland for a record amount of $913,000 based on the price of MANA cryptocurrency at the time.

LAND Token in Decentraland Metaverse Game Based on Ethereum Sold For $913K

In accordance with the data released by NonFungible, this has proven to be the highest-value LAND sale till now in terms of US Dollars.

However, it should be noted that there have been past sales for more MANA when the currency was worth a lot less. 

The record is 2,772,000 MANA in the month of November of the year 2018, which was worth just under the level of $211,000 at the time.

Discussing a non-fungible token acts as a deed of ownership to a digital item and is tokenized on a blockchain in order to be conveniently validated. 

NFTs have the potential to take all kinds of forms, from still images to videos and even tweets.

Republic Realm, the company that invests in virtual real estate in crypto games said:

“We can’t wait to announce our big plans for this estate. Our commitment to building and developing the metaverse is stronger than ever.”

Further About the Ethereum-Based 3-D Game

Decentraland is an online metaverse in which the players are provided with an option to freely explore the world, interact with other players, and play games within the environment.

Well, the 3-D game is not the only game based on blockchain build around plots of digital land sold as NFTs either. Axis Infinity and The Sandbox are also on the list of games developed on the Ethereum blockchain and have raked in millions of dollars selling virtual real estate.

READ  Bitcoin Surges Above $6,300, Hits Dominance Records From December 2017

#Decentraland #Ethereum

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.cryptoknowmics.com/news/virtual-real-estate-in-ether-metaverse-game-decentraland-sold-for-913k

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Blockchain

Bitcoin & Ethereum Price May Reach To These Levels By Next Week

btceth

The post Bitcoin & Ethereum Price May Reach To These Levels By Next Week appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide

The Bitcoin price since the price slash has not shown the tendency to rise above the levels till now. However, it did multiple attempts to jump towards the north, yet dropped to its initial levels. A similar trend was also seen with the Ethereum price as it also fails to move and sustain above $2500. …

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The Bitcoin price since the price slash has not shown the tendency to rise above the levels till now. However, it did multiple attempts to jump towards the north, yet dropped to its initial levels. A similar trend was also seen with the Ethereum price as it also fails to move and sustain above $2500. Despite the bearish trend, yet the analyst believes much fruitful week is waiting ahead for both the assets. 

The crypto space is filled with many speculations and predictions, yet some analyst strongly believes these pullbacks are temporary. One of the popular analysts, Galaxy has predicted the price to rise above the target by next week.

The analyst predicts BTC price at $42K and ETH price at $3k in the coming 5 to 7 days. And hence keeping the hopes alive for the bull rally to resume very soon. 

Also Read: ‘Stop Trading Bitcoin Until Volatility Returns’, Says A Popular Analyst

Bitcoin Price Death Cross Expected Yet Not Validated!

Conpedia earlier reported about the upcoming death cross in the coming weekend, yet according to the reports, it may occur later in this month. But the intensity of the death cross is yet to be known. 

This is not the first time, BTC price is encountering such a situation, yet it has survived many since 2013. Each time, the price has slashed nearly 70% and regained in equal the next bottom. Each time the retracement periods are similar prior to and after the death crossover.

 The recent death cross in 2019 & 2020 did not have a similar impact as before. And according to a popular analyst,  Rekt Capital, if the upcoming DC may drag the price to as low as $18,000.

The analysts in a series of tweet explained the death cross event since the inception and its impact on the price. The analyst also said that the price have its crucial support levels at $32K and $29K. And if the price slumps below these levels, then the DC will be validated.

After the market slash, the entire crypto space is looking for a massive breakthrough that can uplift the Bitcoin price and the Ethereum price to the next level. And if the BTC price sustains the upcoming DC, then the recovery may be imminent.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://coinpedia.org/news/bitcoin-and-ethereum-price-may-reach-to-these-levels/

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Blockchain

What has been driving Amp’s price up? The Ethereum token has risen by 1200% since September!

Defi tokens AMPL and FXC

The post What has been driving Amp’s price up? The Ethereum token has risen by 1200% since September! appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide

Despite the fact that the crypto market has been trending lower over the previous 24 hours, digital collateral token Amp (AMP) has continued to rise. Over the last 24 hours, AMP has gained 12.2 percent to $0.11, a gain of 12.2 percent. The cryptocurrency has gained 85.49 percent in a seven-day period. With a market …

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Despite the fact that the crypto market has been trending lower over the previous 24 hours, digital collateral token Amp (AMP) has continued to rise.

Over the last 24 hours, AMP has gained 12.2 percent to $0.11, a gain of 12.2 percent. The cryptocurrency has gained 85.49 percent in a seven-day period. With a market valuation of $4 billion on June 15, AMP was the 28th largest cryptocurrency by market capitalization. The token was trading at $0.086 at the time of writing.

Here’s more about the 1200% hype since September

In decentralized finance, AMP is an Ethereum-based digital currency that is useds as collateral to secure transactions and decentralize the risk of asset transfer (Defi). AMP is a collateral token for Defi applications that secures smart contracts.

The price began 2021 at $0.006657, after first launching at $0.009559 in September 2020, but has since fallen. Despite the fact that it saw significant increases following the Coinbase IPO last week. This year, Amp has been a standout performer, rising from $0.03 to $0.10 in a matter of weeks.

Coinbase, Gemini, Bittrex, Flexa, SushiSwap, UniSwap, and a number of other centralized and decentralized exchanges are all partners with AMP.

Shopify’s recent announcement of broadening its payments capability to Facebook and Google merchants could be another huge boost for Flexa. Furthermore, Sheetz, a US food and retail chain, said last month that it will begin taking Bitcoin payments through Flexa’s services.

Amp’s native asset, according to the developers behind it, is a collateral token. It is meant to facilitate quick, secure transactions. A

Amp insures the value of any transfer as collateral while it is pending confirmation – a process that can take anywhere from seconds to hours to days.

When consensus for a given transfer is reached, the tokens used as collateral are normally released, making them available to collateralize another transfer.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://coinpedia.org/altcoin/what-has-been-driving-amps-price-up/

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