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Btcusdforecast

What 1-hour chart says? Fundamental Development:- Crypto newcomers who bought into the leading cryptocurrency by market cap, Bitcoin (BTC), are mainly underwater According to the CEO of Crypto Quant, Ki Young Ju, BTC newcomers that joined in early 2021 are still underwater. He added that they make up 75% of the total realized market cap. The crypto market tracker website, CoinMarketCap, shows that BTC’s price has risen over the past 24 hours at around 6.81%, taking its price up to $23,371.30. This also means that BTC’s price is up 20.25% over the past week. BTC has also strengthened against Ethereum’s (ETH’s) price by 3.99%, as one BTC is worth approximately 14.98 ETH at the time of writing. Is there any chance that BTC investors that invested in early 2021 will recover their losses and potentially make a profit? Short Term Technical View: On daily period, BTC is trading below 200&50 simple moving averages and trading near $22700 -$23800 ranges. BTC made low 22900 and now consolidating within a range. Yesterday it made high near $23700 and then it continue to decline. Bitcoin is struggling to gain momentum above $22,800. Alternative Scenario: If Bitcoin fails to clear the $22,800 resistance zone, it could start another decline. An immediate support on the downside is near the $22,800 level.
COINBASE:BTCUSD
by eva236220
What 1-hour chart says? Fundamental Development:- Marathon inks new arrangements to achieve 2023 hash rate target Bitcoin miner Marathon Digital Holdings has secured a deal that it says provides electricity to generate enough power to contribute 23.3 exahashes per second (EH/s) to the Bitcoin network.Marathon revealed in a July 18 announcement that data center operator Applied Blockchain would host 254 megawatts of power, with an option to add 70 megawatts from various other providers, including Compute North. Marathon expects this hosting deal will help it achieve its goal of 23.3 EH/s in computer power by 2023. Exahashes per second (EH/s) refers to the amount of hash power a miner contributes to secure the Bitcoin network. Short Term Technical View: -On daily period, BTC is trading below 200&50 simple moving averages and trading near $21780 -$21,790 ranges. BTC made low 201,430 and now consolidating within a range. Yesterday it made high near $22,750 and then it continue to decline. Bitcoin is struggling to gain momentum above $22,900. Alternative Scenario:- If Bitcoin fails to clear the $22,900 resistance zone, it could start another decline. An immediate support on the downside is near the $21,000 level.
COINBASE:BTCUSD
by eva236220
What 1-hour chart says? Fundamental Development:- Crypto owners banned from working on US Government crypto policies US government officials who privately own cryptocurrencies are now banned from working on regulations and policies that could affect the value of digital assets. A new advisory notice released by the US Office of Government Ethics (OGE) on Tuesday stated that the de minims exemption — which allows for the owners of securities who hold an amount below a certain threshold to work on policy related to that security — is universally inapplicable when it comes to cryptocurrencies and stable coins The notice provided an example scenario whereby an employee who owns a mere $100 of a certain stable coin, is asked to work on stable coin regulation — the employee in question cannot participate in work concerning regulation “until and unless they divest their interests in stable coin.”The notice specified that this ruling still applies even if the cryptocurrency or stable coin in question were to ever “constitute for purposes of the federal or state securities laws.”. Short Term Technical View: On daily time frame BTC is trading below 200&50 simple moving averages and trading between $20,300-$20,500 ranges.BTC is made low 19,700 and now consolidating within a range. Yesterday it made high near $20,460 and then it continue to decline. . Bitcoin is struggling to gain momentum above $20,600. Alternative Scenario: If Bitcoin fails to clear the $20,600 resistance zone, it could start another decline. An immediate support on the downside is near the $19,800 level.
COINBASE:BTCUSD
by eva236220
What 1-hour chart says? Fundamental Development:- Crypto-Winter Victim: Crypto Hedge Fund 3AC Files for Bankruptcy Singapore-based 3AC is among the high-profile investors whose major capital has fallen into liquidation. This marked one of the biggest casualties of the latest “Crypto Winter.” Representatives from the company made the bankruptcy filing in a Southern District New York (Manhattan) court on June 1, which legally shields the US assets of insolvent foreign debtors from creditors in the US. Last week, a court in the British Virgin Islands ordered the liquidation of 3AC’s capital after they failed to repay a $670 million loan provided by Voyager Digital, a crypto broker. As a result, this has halted all trades, transactions, deposits, and withdrawals. However, 3AC is considering employing business consulting company Teneo to oversee the process. The fund, co-founded by former Credit Suisse traders Zhu Su and Kyle Davis, managed around $10 billion of assets as recently as March, later dipping to $3 billion in April, as reported by block chain analytics firm, Nansen. Short Term Technical View: On daily time frame BTC is trading below 200&50 simple moving averages and trading between $18,900-$19,500 ranges.BTC is made low 18,700 and now consolidating within a range. Yesterday it made high near $19,600 and then it continue to Decline. Bitcoin is struggling to gain momentum above $19,200. Alternative Scenario: If Bitcoin fails to clear the $19,200 resistance zone, it could start another decline. An immediate support on the downside is near the $18,700 level.
COINBASE:BTCUSD
by eva236220