Category: Cryptocurrency News

submitted by /u/bordoisse [link] [comments]

Over the last year and a half, non-fungible tokens (NFT) have seen massive hype and millions of dollars worth of sales executed at auctions. A recent survey produced by bonusfinder.com shows sports fans are doubtful of the NFT craze as the poll’s findings show nearly three out of four people are “moderately skeptical” about the […]

submitted by /u/OkMongoose7304 [link] [comments]

“Ideas have value,” said Cliff Szu, co-founder of Multiverse Labs. “[O]ur overriding goal is to help people with great ideas to discover the true value of their innovations and inventions.”

WHO? You. Yes, you, me, and everyone else that knows there needs to be change. The people that lost everything in 2008, the people that work their asses off but get pay raises lower than the inflation rate, the people that have to pay fees when their savings account doesn’t have a balance that suits…
Read more

Bitcoin price this week blasted off from $30,000 to $40,000 in a 25% move. Although the momentum was provided by an epic short squeeze, the leading cryptocurrency by market cap could continue to run much higher if diagonal downtrend resistance is broken. The breakout would confirm what looks like a bump-and-run reversal bottom, which according to the authority in chart patterns, has the best bull market performance out of 39 other chart patterns. Could this be the signal that bulls have been waiting for to restart their charge? Bitcoin Bulls Could Be Ready To “Bump And Run” After one the worst quarterly closes on record and a monthly selloff that wiped out 50% off crypto prices, investors are breathing a sigh of relief with Bitcoin finally headed away from the bottom range around $30,000. A couple brief plunges to the yearly open were bought up with fury, which eventually led to a reversal and a short squeeze. With Bitcoin price now at around $40,000 once again, the leading cryptocurrency by market cap has formed what looks like the early stages of a strong performing bull market bottom. Related Reading | How The 55% Bitcoin Correction Revives Comparisons To Past Bull Cycle The type of bottom formation is called a “bump-and-run reversal bottom” and it isn’t the first time one has been spotted on the Bitcoin price chart. The pattern was also potentially the signal that sent the cryptocurrency from $3,000 to $13,000 the first time. If the signal is valid again, could Bitcoin see another more than 4x gain from the bottom? A similar return and rise from current levels, would put Bitcoin on track to reach a price of $130,000 per BTC before the rally is over. Has the cryptocurrency formed the best performing bull market bottom? | Source: BTCUSD on TradingView.com Reversal Pattern Bull Market Performance Is The Best There Is But the question is, is this a valid bump-and-run-reversal bottom pattern? The chart above shows a textbook comparison to the current pattern. Even the volume structure appears similar, with volume increasing during the recovery, but never quite reaching the amount traded on the way down. According to Thomas Bulkowski who has studied the results of thousands of chart patterns, says that the BARR bottom is the best performing bull market pattern out of 39. Related Reading | The Fibonacci Sequence And Why $30K Bitcoin Is So Important The pattern is characterized as looking like a “frying pan” with the handle acting as the “lead in” phase. Price action follows a downward sloping trend, which when broken leads to a sharp move to the upside. After penetrating the downtrend line, Bitcoin could pull back tor a throwback and second “bump.” At that point, the cryptocurrency should put in the final bull signal before the current crypto market cycle has officially ended. Follow @TonySpilotroBTC on Twitter or via the TonyTradesBTC Telegram. Content is educational and should not be considered investment advice. Featured image from iStockPhoto, Charts from TradingView.com

As Bitcoin price reversed course, a key trading indicator flashed bullish hours before TEL embarked on a sharp 82% rally.