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Benjamin Cowen points out that Bitcoin tends to retrace to support levels after surges, and is influenced the by Federal Reserve actions. Bitcoin’s interaction with the 8-week moving average is crucial for predicting its price movements. Cowen warns of significant Bitcoin corrections impacting altcoin markets, especially in the early months of the year. In a recent YouTube video, cryptocurrency analyst Benjamin Cowen provided an in-depth Analysis of Bitcoin’s current market trends and potential future movements. Cowen’s insights offer a fresh perspective on Bitcoin’s price behavior, highlighting key indicators and historical patterns that could influence its trajectory in the coming weeks and months. Cowen emphasized the historical pattern of Bitcoin’s behavior, particularly its interaction with critical support levels. He pointed out that, historically, Bitcoin has shown a tendency to retrace to previous levels for confirmation...

After gains that have seen Bitcoin (BTC) briefly surpass the $44,000 threshold recently, investors might be looking at a potential price correction soon that can be damaging in the short term. However, a correction can be positive, adjusting overvalued asset price s and providing buying opportunities. Technical analysts examine price support and resistance levels to anticipate transitioning from a reversal or consolidation to a correction . Technical correction s occur when there is excessive inflation in an asset or the overall market.  According to the analysis of the daily and the three-day charts of the Bitcoin price movement, the following BTC price correction might be coming within the next 48 hours, as per a post on X by cryptocurrency analyst Ali Martinez on December 5. BTC price one-day and three-day charts. Source: Ali Martinez Investors might be wondering to which level Bitcoin will drop during this retracement, and based on another analysis by Martinez on December ...

The heads of Australia’s largest crypto exchanges say a bull run is coming early next year — others say it’s already arrived. The market has already entered the first phase of a major rally, with the number of people buying crypto trickling upward which is expected to accelerate early next year, say the heads of Australia’s largest crypto exchanges. Independent Reserve CEO Adrian Przelozny told Cointelegraph he expects market activity to see an uptick in early 2024 and is hiring to build infrastructure before that happens. “We’re just doing everything we can to get ready for a bull market because we know that when the bull market comes, it happens very fast,” he said. “You need to make sure you have the processes, people, and infrastructure in place so when your business triples overnight, you can handle it.” “I think the next two years are going to be good. Strap yourselves in.” BTC Markets chief Caroline Bowler said market conditions had grown more bullish over the year, with a gene...

Numerous experts anticipate that the approval of Spot Bitcoin ETFs and the occurrence of Bitcoin halving will trigger a bullish market.  However, the duration of this upswing is uncertain due to unfavorable microeconomic factors and the widely anticipated upcoming events. There is a distinct possibility that the markets have already factored in and adjusted for any potential price increases, making it challenging to predict how long the current upswing will persist. Nonetheless, there is a potential for excellent short-term trading prospects. Cryptocurrency The next Cardano? 3 cryptocurrencies set for massive growth in 2024 Cryptocurrency Solana adds $4 billion in 24 hours; Is $70 next for SOL? Stocks US stock market adds $739 billion in a day; Is bull market underway? Finance What’s going on with the US dollar vs. Australian dollar (AUD/USD)? Cryptocurrency Solana to crash below $30...

A popular crypto YouTube personality known as The Bearable Bull predicts major changes are coming for XRP and the broader crypto market around Nov. 19. In a video posted on Nov. 16, the influencer pointed to an important date on the horizon that could trigger a bull run for XRP and other altcoins. He cited the SWIFT global payments network’s plans to fully launch its new ISO 20022 standard on Nov. 19. ISO 20022 is a new messaging standard that allows more data to be included in financial transactions. It also enables interoperability between different systems. The Bearable Bull suggested the new standard will “begin” in three days as part of a series of upgrades to modernize the global financial infrastructure. He believes the timing aligns closely with Ripple’s vision for cross-border payments and its XRP cryptocurrency. Ripple has been working for years to disrupt the legacy SWIFT system with its blockchain-based network. The company’s executives ...

A recent report published by market strategists from the investment bank and financial services company UBS says that the up coming Mt Gox payouts won’t destabilize bitcoin’s value. While a new supply will come to the market, UBS strategists insist that “it would be less concentrated.” UBS Market Strategists Believe Mt Gox Payouts Won’t Destabilize Bitcoin’s Value UBS market strategists think that the cause for concern over the up coming Mt Gox distribution of 142,000 bitcoin (BTC) may be a bit overhyped in regard to the “long-held fear that Mt. Gox redemptions would hurt bitcoin’s price.” Bitcoin.com News reported on the Mt Gox rehabilitation plan nearing the end of the road at the end of October 2022. Through the current plan, creditors have several options to choose from when it comes to repayments. Creditors have until March 10 to choose a repayment scheme, and payments are expected to happen around September 2023....