Tag: bitcoin bulls

Price of Bitcoin pulls back from yesterday’s high of $452+

The price of Bitcoin retraced from yesterday’s high of $452 to $443 today on the 22nd of April, 2016 declining -1,99%. It has currently formed a nice hammer on the BitstampUSD chart and while there is still more room to go down on the Slow Stochastic oscillator along with MACD and RSI, the overall feel is very bullish and looks like we’re currently around a good place to go long once again.

Bullish Bitcoin getting everyone excited

Bitcoin price pollGiven that the price of BTC has been moving rather slowly for the past couple of months, it’s no wonder that there’s an increased activity on Bitcoin related forums and message boards now when the bulls have returned and people are eagerly looking forward to the $500 per coin in the short term.

When a poll was opened today on Bitcointalk, the majority of voters believed that Bitcoin will reach above $480 by May 1’st which is only 8 days from now.

A beautiful swing

When you look at the chart below you’ll see that we are currently at around a very good level for buying some more right after we get a confirmation candle along with a solid crossing on the Slow Stochastic oscillator in the oversold area.

BitstampUSD 22 April 2016 Stochastic slow fast Bitcoin price swing trading

Bitcoin payments coming to Steam

Furthermore, a popular gaming platform, Steam, just came out with more bullish news for Bitcoin by announcing yesterday that Bitcoin is coming soon to Steam as a means for gamers to pay for various games.

Bitcoin payments coming to steam

News like this, like we’ve seen numerous times before, tend to work out really well for the Bitcoin bulls as price is likely to increase soon after.

So, what are you still waiting for?

Share!

Bitcoin just tested the $400 USD area again

Ever since my last post about Bitcoin more than two weeks ago, I have been keeping a close eye on the price movement and the news as well. Judging from the chart alone, it’s highly possible that Bitcoin will soon break the $400 resistance level, because it has tested it twice already in the last two days and today’s hourly candle closed a lot closer to this level than the previous. The technical analysis is definitely showing an increasing pressure from the bulls, but that’s not all! The news have been very favorable as well.

bitcoin testing 400 usd area twice in two days

Visa is Testing Remittances on the Bitcoin Blockchain

Visa Europe became the latest enterprise financial institution to announce a blockchain proof-of-concept this month, when it revealed it was working to leverage the emerging technology for remittances.

Report: Barbados Central Bank should hold Bitcoin

Two Barbadian economists have concluded that the country’s central bank may want to consider holding a small amount of bitcoin as part of its portfolio of foreign reserves.

Former assistant of President Obama joins Bitcoin Miner Bitfury

I believe in the blockchain and the transformation power of this technology. And you should too. In fact, I believe in the blockchain so much that I just left my fantastic job working for Edelman … to take on the role of global chief of communications at BitFury.” Source: http://www.coindesk.com/former-white-house-staffer-joins-bitcoin-miner-bitfury/

Bitcoin bulls just getting started

The above three news were just a few examples how seriously people are starting to take Bitcoin and its underlying technology, the Blockchain. Deutsche Bank, for instance, has claimed that the Blockchain technology will become mainstream within just the next decade.

I’m a Bitcoin permabull myself and I strongly believe that we can break the $400 barrier this year. Perhaps there’s not enough power to test $500 within just two weeks, but we should be getting there in the first part of 2016 as well. See you on the moon!

Share!