Bitcoin Price Starting to Reverse 2 Catalysts Will Drive it Higher in 2018

Bitcoin Price Starting to Reverse, 2 Catalysts Will Drive it Higher in 2018

Bitcoin Price Starting to Reverse, 2 Catalysts Will Drive it Higher in 2018

Throughout 2018, Bitcoin has continued to record lower highs, testing major resistance levels at $10,000, $8,000 and $7,000. According to Fundstrat’s Tom Lee, the stability of Bitcoin at $6,000 regardless of its lower highs is optimistic.

In early 2018, Fundstrat emphasized in a report that the $6,000 level will likely be held by Bitcoin in the mid-term because it is the breakeven point for miners. That means, miners that utilize electricity and mining equipment to verify transactions on the Bitcoin network can still generate some profit if the price of Bitcoin stays above the $6,000 level.

Lee explained on Bloomberg that the stability of BTC at the $6,000 mark and two major catalysts awaiting BTC in the year end could push the price of BTC up substantially within the next two months.

Bitcoin daily price chart on September 30, provided by

“$6,000 is a level that is more important than we realized. Earlier this year, we were pointing $6,000 as breakeven for Bitcoin mining so that level should hold. The fact Bitcoin is holding here is very good news. I think there are catalysts in the year end so I think despite the lower highs we’ve seen I think we’re starting to reverse,” Lee said.

What are the Two Catalysts?

According to Lee, two major factors will contribute to the increase in the price of BTC by the end of the year: strengthening infrastructure of the cryptocurrency exchange market and fear of missing out (FOMO) amongst institutional investors.

Over the past few months, Bakkt, a cryptocurrency exchange created by ICE, Starbucks, and Microsoft, has been building the first regulation-focused platform that primarily aims to operate as a trusted custodian and brokerage for large-scale investors.

Eventually, with the entrance of major investment banks and solid products offered by Bakkt, Lee stated that institutions will have the ability to enter the market.

But, echoing the sentiment of billionaire investor Mike Novogratz who previously stated that institutions will likely not commit to the crypto market until Bitcoin surpasses major resistance levels at $8,800 and $10,000, Lee emphasized that Bitcoin will have to show some recovery in its price before it appeals to many institutions.

“I think there is a few. One, this new exchange called ICE Bakkt will be launched. It is going to be really one of the first regulated exchanges. I think around that, there is working being done by these major investment banks to build products to support it or work with it. I think institutions are waiting to be involved,” he said.

How Will Bitcoin End 2018?

In early 2018, Lee reaffirmed his price target of $25,000 per BTC. The cryptocurrency market is quickly approaching the end of 2018 and it is becoming increasing unlikely for the dominant cryptocurrency to reach an all-time high by the end of the year.

Still, given the stability of BTC at $6,000 since late July, it is possible for the asset to show strength and momentum by November and December, a period in which the cryptocurrency market historically tend to record large gains.

Alan Zibluk Markethive Founding Member




As at 2018-09-29 average Bitcoin price is 6550.72493333 USD, 1 BTC, 30.0321324 ETH.

It’s noteworthy that is issued into circulation Bitcoin.

Bitcoin BTC/USDT on Binance exchange is 6510.84. The trading volume on Binance is 274818013.32.

At the same time Bitcoin BTC/QC on ZB exchange is 6513.12. The trading volume on ZB is 69895898.43.

Bitcoin BTC/USDT on OKEx exchange is 6508.83. The trading volume on OKEx is 209122252.13.

Bitcoin BTC/USDT on Huobi exchange is 6513.50. The trading volume on Huobi is 95030560.70.

Bitcoin BTC/USDT on Bitforex exchange is 6515.49. The trading volume on Bitforex is 188305436.89.

In this regard, 24 hour trading volume is 4467848631 USD or 682038 BTC. At the same time Bitcoin market capitalization is 113280212358 USD or $17292775 BTC.

Bitcoin average change within 24 hour is -2.28 against USD, 0 against BTC, 2.69 against ETH. Weekly report: -2.33 against USD, 0 against BTC, 7.99 against ETH. Monthly report: -6.97 against USD, 0 against BTC, 22.87 against ETH.


Alan Zibluk Markethive Founding Member

Bitcoin Predictions – 10 parameters which will determine Bitcoin price in future

Bitcoin Predictions -  10 parameters which will determine Bitcoin price in future.

Bitcoin Predictions – 10 parameters which will determine Bitcoin price in future.

Factors affecting Bitcoin price predictions

Is Bitcoin a bubble or a pin? Although the question is quite ambitious, there are various reasons that can be cited, to explain the highs and lows of Bitcoin. India emerging popularity of cryptocurrencies which one is asking the question what is Bitcoin what are cryptocurrencies and ultimately what is money. People tend to get quite relevant answers on the internet, but if you are looking for an easy explanation for Why does Bitcoin fluctuate so much? You have landed up at the right place. Is it the People, the team members, or Satoshi Nakamoto himself who is responsible for the ebbs and flows of Bitcoin prices. Let’s find out.

1. Bitcoin can be understood easily when it is compared to Gold. Assuming that you all are familiar with gold. Try to break down the attributes of gold. Gold is highly scarce in nature, it is difficult to mine, its value is constantly increasing, the same amount of gold has the exact same value anywhere around the world, huge chunks of good pieces can be broken down into smaller ones. No compare every attribute of gold with Bitcoin. Currently, even Bitcoin is scarce, as the number of users is more and the coins are less, even Bitcoins are difficult to mine, due to the scarcity of Bitcoins its value is high. Therefore, the future price prediction of Bitcoin is undoubtedly positive.

2. Bitcoin effectively overthrows the need of all the banks, which were very proud for the services they offered. It was only after the invention of Bitcoin, that people realized that the financial industry can be much more efficient than the fraudulent banks showcase them to be. Bitcoin has become a great alternative for the financial transactions, as the overall process has been brought down to a cheaper scale. Adding up on that is its lightning fast speed, imagine transferring funds from America to India within a matter of minutes. Therefore, the efficiency of Bitcoin is the backbone of its future prediction.

3. The Bitcoin prices and also given by a myriad of psychological factors. Investors, in particular, are driven by the market sentiments of the other investors or maybe their peers. The peer pressure is nothing much and everyone in your friend circle has purchased Bitcoin but you haven’t. The subconscious feeling that you get, is nothing but the peer pressure. This is one of the most notable driving force of Bitcoin.

4. Incorporation of Bitcoin buy Mini e-commerce companies, also needs to be kept in mind while predicting the Bitcoin prices. The future acceptance of Bitcoin is directly proportional to the amount of Companies accepting Bitcoin. How can you use your Fiat currency, when the accepting side is not even accepting it? Hence, from the now on a lookout for the “Bitcoin payments accepted” while shopping.

5. No government can take control of Bitcoin. It’s not like they are not authorized to do so but they inherently can do it. If they are really daring enough to play with the Bitcoin network, then they would be needed, all the supercomputers existing till date. The Bitcoin network is so huge that even if all the supercomputers are combined together, they would not even be capable of controlling half of the Bitcoin network too. In other words, they are very tiny before the massive Bitcoin network. Therefore, regulations do not affect the Bitcoin price prediction.

6. As the Blockchain Technology, in general, gains popularity even Bitcoin prices would be affected, as everything is interrelated to each other.

7. Even the decisions of various social media platforms with respect to the Crypto domain affects the Bitcoin value. Consider a friend of yours spreading the news of Bitcoin price fall on WhatsApp and Facebook. It is very obvious that some speculations would be fed into the minds of Bitcoin enthusiasts. In a nutshell, self-regulation also must be kept in mind for Bitcoin price prediction.

8. The online nature of Bitcoin transactions have bought the entire financial market into the hands of people. You can sit back and relax on your sofas, to buy or sell Bitcoins, within a few taps without undertaking extensive form filling procedures. Convenience is the driving factor here.

9. Bitcoin is highly valuable when seen collectively. In other words, what’s the value of using Facebook when you have no friends. Apply the similar analogy to Bitcoin too. Its social connections and engagement by millions of people is its driving force.

10. Further developments in the Bitcoin world, would accelerate its acceptance and indirectly the value of Bitcoin. Bitcoin ATMs and ETFs are a most significant model developed for the convenience of users.


Published 54 mins ago on September 27, 2018 By Layla Harding

Alan Zibluk Markethive Founding Member

Bitcoin Feeling Bullish at 6450 A Substantial Upsurge is Expected before 2018-End


Bitcoin Feeling Bullish at $6,450, A Substantial Upsurge is Expected before 2018-End

Bitcoin price is feeling bullish at $6,450 amidst positive news of Google allowing crypto ads from next month, Bakkt confirming physically delivered bitcoin futures contracts and gaining mainstream recognition on Scrabble dictionary. Meanwhile, experts share a bullish scenario.


Bitcoin (BTC) aiming for higher ground

Bitcoin is currently trading at $6,450 with slight gains. The world’s leading cryptocurrency is managing the daily trading volume of $4.2 billion while trading in the range of $6,382 and $6,473 today.

Recently, Bitcoin found support at $6,100 while forming lower highs after rejecting the $6k resistance mark. However, bulls seem to be ready to make a break as the short-term potential is showing an ascending trend.

If bitcoin drops below its support level at $6,100, it can test out the June lows while on the higher ground, it will find resistance at about $6,560.


Amidst numerous positive news

Bitcoin is feeling bullish amidst various positive news as the search engine giant, Google removes the ban on bitcoin ads.

After banning the crypto related activity on the platform in March, Google has yet again opened its door to the crypto world, albeit in a limited manner. From next month onwards, regulated exchanges can purchase ads in the US and Japan.

The biggest Bitcoin bullish news Bakkt has announced that the first of its contracts will be physically delivered bitcoin futures contracts. With the focus on regulated institutions, the platform won’t be allowing any margin or leverage trading.

Moreover, Bitcoin just got added to the Scrabble dictionary and got mainstream adoption and furthermore appeared on Australia’s ‘Who Wants to be a Millionaire’.

Meanwhile, experts are extremely bullish on Bitcoin

Industry experts have already called out a bottom for bitcoin price. Now the co-founder of CryptoCurrencySimplified, Erica Sanford stated,


With Bakkt scheduled for the launch in November and BItcoin ETF still to gain approval, Bitcoin surely has the bulls coming up.

Hence, experts like the CEO of BitcoinIRA, Chris Kline is expecting Bitcoin to hit $40,000 before this year ends as he shares,


With Bitcoin market becoming more accessible to investors leading to more money pouring into the crypto market, prices can surely make a substantial j





Bitcoin Feeling Bullish at $6,450, A Substantial Upsurge is Expected before 2018-End

Alan Zibluk Markethive Founding Member

Bitcoin price analysis – BTCUSD rangebound under 6400 but further losses are limited

Bitcoin price analysis - BTC/USD rangebound under $6,400, but further losses are limited

Bitcoin price analysis – BTC/USD rangebound under $6,400, but further losses are limited

  • BTC/USD stays below critical support, but the downside momentum is fading away.

  • New Tether coins hit the market, BTC did not react.

BTC/USD is changing hands at $6,388, consolidating losses incurred at the beginning of the week. The digital currency No. 1 touched $6,327 low on Tuesday, though the bearish momentum has faded away, allowing for the recovery towards the key resistance area, created by 23.6% Fibo retracement for the downside movement from September 4 peak.

Bitcoin's technical picture

Looking technically, BTC/USD is recovering slowly from September 8 low reached at $6,114. This trend remains untouched as long as the price stays above the upside trendline currently at $6,280. Once it is broken, $6,000 will come into focus, threatening to push BTC/USD back on the bearish track.

Meanwhile, from the short-term point of view, a sustainable move below $6,400 looks nasty. If this ground is not regained soon, the selling pressure may intensify and push the price towards the above-said critical trend line support.

The next hurdle is created by SMA40 (4-hour chart) above $6,500 and $6,600 (38.2% Fibo retracement). A sustainable movement higher will allow proceeding towards $6,650 (SMA200, 4-hour chart) and psychological $6,700.

Tether movements

Meanwhile, crypto community noticed that the amount of Tether in circulation increased by $12.89M. The newly minted coins were transferred to Bitfinex, the fourth largest cryptocurrency exchange by trading volumes. However, this Tether issuance did not influence Bitcoin's momentum in any noticeable way.


Tanya Abrosimova



Alan Zibluk Markethive Founding Member

Bitcoin BTC Price Watch – Back to Support Yet Again

Bitcoin (BTC) Price Watch -  Back to Support Yet Again!

Bitcoin (BTC) Price Watch – Back to Support Yet Again!

Bitcoin Price Key Highlights


  • Bitcoin price has formed higher lows and lower highs to trade inside a triangle pattern on its 4-hour time frame.

  • Price got rejected on a test of resistance once more and a move to support appears to be taking place.

  • Technical indicators are suggesting that further declines could be in the cards.

Bitcoin price bounced off the top of its triangle consolidation pattern and is gearing up for another test of support.


Technical Indicators Signals


The 100 SMA is below the longer-term 200 SMA to signal that the path of least resistance is to the downside. In other words, support is more likely to break than to hold. Price is currently testing the 100 SMA dynamic inflection point and might be due for further losses if it breaks below this level or the $6,250 triangle bottom.

Stochastic is also heading south so bitcoin price might follow suit while sellers have the upper hand. This oscillator is nearing oversold levels, though, so bears might be feeling exhausted soon. RSI is pointing down and has more room to fall before hitting oversold levels, so sellers could stay in control for a bit longer.

The chart pattern spans $6,000 to around $8,250 so a break lower could be followed by a drop of the same height. Similarly an upside break could lead to a rally that’s the same height as the triangle.

Bitcoin price has drawn support from the SEC decision to open the comment period for the proposed rule change to list the bitcoin ETF by VanEck/SolidX on an exchange. This keeps traders’ hopes up that an approval may be in the works sooner or later as it managed to avoid a quick rejection.

Meanwhile, there appears to be no major catalyst that has spurred the sharp tumble, apart from profit-taking. Some point to the BIS report that regulation has been a driving factor for bitcoin price also.

SARAH JENN | SEPTEMBER 25, 2018 | 4:34 AM

Alan Zibluk Markethive Founding Member

Bitcoin Price Analysis – BTC Acquires Safe Haven Status After Brexit Woes

Bitcoin Price Analysis -  BTC Acquires “Safe Haven” Status After Brexit Woes

Bitcoin Price Analysis – BTC Acquires “Safe Haven” Status After Brexit Woes

All in all, Bitcoin prices are on an uptrend. Backing these are boosting fundamentals with investors anchoring their bullish hopes on Bakkt, the ICE subsidiary. The platform will make use of Microsoft technologies for expediency. Regardless, our previous trade plan holds true. Even with a modest three percent gain in the last week, we need to see strong gains above $7,000 or safely $7,200 for trend continuation. Thereafter we shall recommend large volume buys with targets at $10,000.

Latest Bitcoin News

At current levels, Bitcoin prices are not only vibrant but are bottoming up. Bitcoin prices are up roughly $500 from last week’s lows. Factoring in candlestick formations, it appears that there is more room for upsides thanks to spikes in market participation levels.

All eyes are now set on Intercontinental Exchange (ICE), the owners of the New York Stock Exchange. The ICE plans on launching a new regulated “on-ramp” platform for institutional investors, merchants and retail investors to trade, store and spend various digital assets through

All aspects of the existing futures market will, for the first time, be part of physical delivery and warehousing of Bitcoin

Bakkt will utilize MS cloud solutions with backing from traditional Wall Street companies and crypto funds as Starbucks, BCG and Fortress Investments. Once they get the green-lights, Bitcoin prices will likely on a high by the end of the year as investors rush to invest. In fact the optimism is so high that Michael Novogratz, the Former Managing Partner at Goldman Sachs said it is impossible for Bitcoin prices not to test $10,000 by the end of the year re-affirming his previous stands on price.

Bitcoin Technical Analysis

Weekly Chart

Though there is optimism in the market, our last Bitcoin trade plan is solid and on course. From the weekly chart, it’s clear that Bitcoin prices are on a consolidation. As they oscillate within a $1,200 range with supports at $5,800–$6,000 support and $6,800–$7,200 resistance level, our Bitcoin buy triggers would only go live once there are conclusive surges above the resistance trend line separating buyers and sellers at around $7,200—Sep 2018 highs. Besides the ranging market, the $6,000 level is proving to be a solid foundation for Bitcoin buyers.

After all, BTC sellers have so far retested $6,000, six times. Every time sellers fail to breach these resilient floors. Overly, this is good for BTC optimists. It goes to show how important $5,800–$6,000 level is from our analysis.

Daily Chart

Before Sep 18 surges, $6,500 or Sep 17 highs were our minor resistance level. Cementing our decision to anchor suitable stops and buy triggers at $6,500 was those high trading volumes of Sep 17.

Notice that average volumes before Sep 17 bearish engulfing candlesticks were low. Besides, we would strong reasons to hold on to short positions because Sep 18-20 candlestick volumes were low. However, after Sep 21 price explosion at the back of high volumes, sells were nullified and short term bulls were triggered with first targets at Sep 5 highs at $7,300.

In the course of this week, it’s likely that Bitcoin bulls will follow through. In that case conservative buyers would only enter long trades if and only if there is Sep 21-like breach above $7,000–$7,200. Thereafter, we can recommend loading on pull backs in lower time frames with first targets at $8,500 and later $10,000.



Alan Zibluk Markethive Founding Member

In Argentina Investors Flock to Safe-Haven Bitcoin


The economic crisis in Argentina is driving investors to buy Bitcoin in order to protect their wealth, pushing the cryptocurrency’s price higher in-turn. In parallel, to satisfy the increasing demand, the first of 12 Bitcoin ATMs has already begun to operate in a Buenos Aires mall. The number of stores accepting Bitcoin also continues to rise.


As the country’s currency plunges, Argentinian investors and ordinary people are exchanging their pesos for Bitcoin (BTC) $6720.73 +0.22%. In this regard, economist and mathematician D.H. Taylor writes,

“Argentinians are moving in large numbers out of their peso and into a more stable currency, BTC. The numbers being witnessed by the markets in BTC are surging from Argentina.” And he adds, “The stability being offered by the digital currency is far greater than the peso and Argentinians are moving in quickly.”

As for substantiating evidence, Taylor refers to the chart below showing the weekly volume of Bitcoin purchases in Argentina:

One of the wealthiest countries in Latin America, Argentina is once again undergoing a severe economic crisis. In April 2018, the peso started plunging against the dollar at an unexpected speed.

Most economists agree that the devaluation of the peso is due to investors’ doubts about the government’s ability to contain its unrelenting inflation and to minimize the effects of the U.S. Federal Reserve interest rate increases, which have strengthened the dollar all over the world.

Now, the Argentina year-over-year inflation rate reaches over 34 percent.


So far, the efforts of Argentina’s Central Bank to stabilize the peso have been to no avail. As a result, according to Taylor, the Central Bank is exploring the possibility of diversifying into Bitcoin,

The biggest solution is Bitcoin, or BTC-USD and, according to the data, Argentinians are buying large amounts. At the same time, the Argentinian Central Bank is considering diversifying their currency reserves into BTC.

The Central Bank has already eased regulations regarding ATMs in the country. This easing of regulations has facilitated the installation of ATMs processing cryptocurrencies.

In Argentina, Investors Flock to Safe-Haven Bitcoin

Alan Zibluk Markethive Founding Member

Bitcoin Price Analysis: BTCUSD Testing Double Bottom Neckline

Bitcoin Price Analysis: BTC/USD Testing Double Bottom Neckline

Bitcoin Price Analysis: BTC/USD Testing Double Bottom Neckline

Bitcoin could be due for an uptrend anytime now as the price is already testing the neckline of its double bottom on the 1-hour chart. A break past the $6,650 area could lead to a climb that’s the same height as the chart formation, which spans $6,100 to $6,600.

However, the 100 SMA recently crossed below the longer-term 200 SMA to signal that bearish pressure is present. This could force the neckline resistance to hold and push Bitcoin back down to the bottoms again. Then again, the moving averages just seem to be oscillating to reflect consolidation conditions, so a bullish crossover might be possible again.

RSI is hovering close to the overbought zone to signal bullish exhaustion. Turning lower could confirm that sellers are taking over while buyers take a break. Stochastic has some room to climb before hitting overbought levels, though, so buyers could have a bit more energy left to push for a neckline breakout.

he SEC just issued an order to gather more input from the public to help in its ruling on the proposed rule changes to list the Bitcoin ETF from SolidX/VanEck. Recall that they already pushed the ruling deadline back on this and could still do so again, possibly not making any decision until February next year.

If so, Bitcoin bulls might still be disappointed but could continue to keep hopes up for an approval. A flat-out rejection, on the other hand, could douse any expectations that a strong rebound to the record highs could take place this year. Approval, although seemingly least likely, could usher in strong gains across the board.

The decision is due at the end of the month and analysts are already pointing to the buildup of short positions on Bitcoin, likely the cause for the sharp dip earlier this week.


SARA JENN · SEPTEMBER 21, 2018 · 1:00 AM

Alan Zibluk Markethive Founding Member

Bitcoin BTC Price Analysis – Tossing And Turning At Wedge Support


Bitcoin (BTC) Price Analysis – Tossing And Turning At Wedge Support

Bitcoin has spiked around current support levels as bulls and bears battle it out.


Bitcoin underwent a pickup in volatility, leading to spikes in both directions, but ultimately holding its head above the falling wedge support. Technical indicators are giving mixed signals, so it’s still tough to tell which direction the next move might go.


The 100 SMA just recently crossed below the longer-term 200 SMA to signal that the path of least resistance is to the downside. In other words, support is more likely to break than to hold. In that case, bitcoin could fall by the same height as the chart pattern. Price is also below the moving averages dynamic inflection points, which could keep holding as resistance.


RSI is on the move up, though, so there may be some buying pressure left in play. Heading further up until it reaches overbought levels could take bitcoin price along with it. Similarly stochastic has room to head higher before hitting overbought territory, so buyers could have some energy to push for more gains.


Price also looks ready to complete a double bottom formation on the latest bounce, with the neckline located around $6,600. A break past this resistance could spur a rally that’s the same height as the chart formation. Stronger bullish pressure could even lead to a test of the wedge resistance at $7,000 or a break higher, which might then be followed by a rally that’s the same height as the chart pattern.


Analysts point to the buildup of sell orders leading up to the SEC decision on bitcoin ETF applications. Recall that the regulator already rejected a handful then announced a decision to review those proposals. Soon after, the SEC decided to temporarily suspend a couple of crypto-based instruments, citing “confusion” on the nature of underlying markets and reiterating their mandate to protect consumers.


Still, bulls strongly defended support yet again as many have been waiting to buy on dips.

By Rachel Lee On Sep 20, 2018

Bitcoin (BTC) Price Analysis -  Tossing And Turning At Wedge Support

Alan Zibluk Markethive Founding Member