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BTC, ETH, LTC Price Prediction — Bearish Candles Are About to Postpone a Blast-Off

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  • Denys Serhiichuk
    📈 Price Predictions

    💱🤷‍♂️The crypto market is in the zone of uncertainty. Our price prediction analyzes which promising coins to look after🔮 👀

BTC, ETH, LTC Price Prediction — Bearish Candles Are About to Postpone a Blast-Off
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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.

ByBit
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June 7 has started for the cryptocurrency market with achieving the total market capitalization at the $250 bln mark. However, there is no single trend movement for all the top coins; while Bitcoin Cash is losing more than 1%, the price of Litecoin has increased by more than 8% over the past 24 hours.

The dominance of Bitcoin is decreasing, so altcoins are reacting poorly to the BTC correction taking place recently.

Cryptocurrency market share

Against all this, Ripple and Litecoin are the top gainers, showing 4% and 8% growth respectively. Bitcoin SV keeps falling and has lost around 8% overnight.

BTC/USD

Even though Bitcoin gradually dropped to $7,700, our previous scenario of reaching $8,000 remains relevant. The prevailing number of long positions over shorts on BitMEX and Bitfinex confirms such a situation.

BTC/USD 1-hour chart

Bitcoin has kept trading sideways since June 4, and the community is expecting a sharp move, either up or down. Although the trading volume is near its local minima, BTC might retest the support at $8,000 soon. However, it is supposed to happen later than predicted, after June 10.

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Bitcoin Price Prediction: How Much Will BTC Cost in 2019? - Updated

Bitcoin Price Prediction: How Much Will BTC Cost in 2019? - Updated

Bears are unlikely to push the price deeper, as the market has already seen 2 corrections earlier. Furthermore, the MACD indicator is looking upwards, confirming our statements.

The price of BTC is trading at $7,818 at the time of writing.

ETH/USD

Even though Ethereum has not shown significant price growth, the coin has given more profits to its holders than Bitcoin over the last day.

ETH/USD 4-hour chart

On the 4-hour chart, Ethereum is about to touch the bottom in June, and the technical patterns point out the nearest bounce back. Notably, the RSI indicator is in the neutral zone, but its lines are moving upwards, suggesting the increasing domination of buyers. The Fibonacci retracement is in the red area, meaning the end of the short-term bearish wave. In this case, the potential level is achieving $269.28 (61.8%) in a few days.

The price of ETH is trading at $248.20 at the time of writing.

LTC/USD

The “digital silver” is performing the best today, compared to other top 10 coins. Its rate has soared by more than 8%, and Litecoin is back in 5th place in the global cryptocurrency ranking. The sharp price rise is followed by the increasing hashrate, which has jumped to a new high.

LTC/USD 1-hour chart

Although Litecoin is bullish now, there is a high chance of correction on the hourly chart. That is backed by the RSI indicator, which has already crossed the overbought zone and is about to go down. What is more, the trading volumes are not on the maximum levels. In this case, the price is likely to be adjusted to $110, so bulls could accumulate their effort for conquering new levels.

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Bitcoin Price Prediction: How Much Will BTC Cost in 2019? - Updated

Bitcoin Price Prediction: How Much Will BTC Cost in 2019? - Updated

The price of LTC is trading at $113.87 at the time of writing.

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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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One of Richest Bitcoin Addresses Holds $650 Mln Worth of BTC Stolen from Mt. Gox Exchange

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  • Alex Dovbnya
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    One of the richest whales has never touched all 79,956 coins that were infamously stolen from Mt. Gox

One of Richest Bitcoin Addresses Holds $650 Mln Worth of BTC Stolen from Mt. Gox Exchange
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ByBit
Contents

Casa CTO Jameson Lopp has noticed a tidbit in the most recent CoinMetrics report. It appears that the sixth richest Bitcoin address holds 79,956 BTC (approximately $650 mln at today's prices) that was stolen from the now-defunct Mt. Gox exchange.

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Bitcoin Price Rally in December 2017 Was Orchestrated by One Whale: Research

Bitcoin Price Rally in December 2017 Was Orchestrated by One Whale: Research

Ill-gotten coins

Notably, these coins have been touched since 2011 (the year they were stolen). It was either a very disciplined holder or someone who lost access to their private keys. CoinMetrics states that the latter is the most likely reason behind this eight-year silence.

One of the biggest security breaches in the history of crypto occurred on June 19, 2011. The hacker was able to artificially tank the Bitcoin price to just $0.01 by creating a mammoth-size ask order.       

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Bitcoin Whale Alert Reports: $214 Mln in BTC Moved Between Unknown Wallets

Bitcoin Whale Alert Reports: $214 Mln in BTC Moved Between Unknown Wallets

Mysterious whales

It might be one of the richest addresses considering that the fattest Bitcoin wallets actually belong to cryptocurrency exchanges that use them as a cold storage.

As reported by U.Today, there are plenty of the so-called "zombie addresses," which haven't seen a single transaction in more than 18 months.

One enormous Bitcoin wallet is believed to be in the hands of an anonymous Asian billionaire.    

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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