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Bitcoin (BTC) Price Analysis — Reaching $8,900 Before Another Drop

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  • Denys Serhiichuk
    📈 Price Predictions

    Indicators are showing slight growth. Should we expect any resistance from sellers?

Bitcoin (BTC) Price Analysis — Reaching $8,900 Before Another Drop
Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Against the high volatility of Bitcoin (BTC), the majority of the top coins are showing little growth. Bitcoin SV (BSV) and Stellar (XLM) are two cryptocurrencies located in the red. There is one bright note - the rate for Binance Coin (BNB) has rocketed up 6.57% since yesterday.

Top 10 coins by Coinstats

Below is relevant data for BTC at press time:

  • Name: Bitcoin
  • Ticker: BTC

  • Market Cap: $159,012,207,665

  • Price: $8,800.13

  • Volume (24H): $19,083,000,721

  • Change (24H): 0.51%

BTC/USD: One More Attempt at a Short-Term Growth

Yesterday, consolidation between the Exponential Moving Average (EMA) 200 and EMA 50 continued. Again, sellers broke the EMA 200 moving average and pushed the price closer to the $8,500 level.

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Currently, there are plenty of arguments favoring a rise in price: increased volume with growth, and lower volumes with a fall. BTC has also almost reached the Fibonacci Retracement level of 61.8%, which usually results in the end of a correction.

BTC/USD chart by TradingView

Today, sellers will attempt to re-test the $8,500 support level, while buyers will simultaneously begin to push the price into the $9,000 area. If BTC manages to gain a foothold on the EMA55, then recovery may continue around $9,200 in the near future.

At press time, BTC is trading at $8,741.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and make predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing & ICO Advisory, ATB Coin, and others.

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Ethereum’s Vitalik Buterin: Fiat Money Will Not be Destroyed

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  • Vladislav Sopov
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    Vitalik Buterin, Co-Founder of the Ethereum Foundation and “father” of Ethereum, sat down with Eric Weinstein on The Portal podcast to discuss “old” and “new” economics.

Vitalik Buterin, Ethereum: Fiat Money Will Not Be Destroyed
Cover image via www.youtube.com
Contents

Two intellectuals, Vitalik Buterin (Creator of Ethereum), and Eric Weinstein (PhD, scientist, and Managing Director at Thiel Capital), recently sat down on The Portal to discuss Mr. Buterin's attitude towards the "classic" economics theory.

Libertarianism and Diversity

When both individuals discussed libertarianism, Vitalik Buterin said that libertarians mostly belong to two large groups characterized as either a "leave me alone'" or "conquer the world" approach. This divergence can be extrapolated into cryptocurrencies in terms of their mass adoption.

Mr. Buterin highlighted that there are participants within the crypto community that are assured that fiat currencies will be destroyed and replaced by Bitcoin (BTC). In general, Mr. Buterin estimated that the prospects of any "short-term disruption" for the sake of some "nebulous long-term gain" is skeptical. He said:

I'm definitely not in the camp that actively relishes that fiat currencies will be destroyed. 

Mr. Buterin added that several members within the Bitcoin community share this belief.

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Peaceful Coexistence

Vitalik Buterin predicts that Bitcoin and other cryptocurrencies will coexist with fiat money and balance the disadvantages of the classic monetary system. He also added that cryptocurrencies will provide "checks and balances" against a government monopoly on "issuing money" rather than "replacing it entirely".

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Mr. Buterin is well-known as a champion of pluralism in future world of cryptocurrency. He is sure that different communities will defend their views on its development.

Will crypto one day replace fiat money? Tell us your opinion on Twitter.

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About the author

 Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockhain. Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

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