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Blockchain in 2020 Part 1

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Crypto Analyst Tone Vays Says Bitcoin Breakout Not Over Yet, Predicts Timeline for 300% Rally

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Veteran crypto strategist Tone Vays says the big Bitcoin breakout has more gas left in the tank.

In a new video, Vays explains why he believes the bullish rally that pushed Bitcoin above resistance of $12,000 is not yet over.

“That is exactly what I’m kind of foreshadowing going into the future. We still have this triangle right here and we can still pull back into this triangle, but I do think that right now, there is still enough FOMO (fear of missing out) to get us higher into that high $13,000 range.”

As Bitcoin draws near its next resistance level at $14,000, the crypto analyst predicts that market participants will start to take profits.

“That breather could be horizontal consolidation or that breather could be a pullback all the way back down to $12,000 or even as low as $11,500.”

Although Vays sees a correction on the horizon, he is long-term bullish on the world’s most dominant cryptocurrency.

“[The] monthly view is going to be great. We’re going to close as the second-highest month ever and we got a shot at closing at the highest month ever if we can close at $14,000. That would be the highest monthly close ever, which would also be absolutely great.”

Vays also highlights his current personal sentiments on BTC.

“I’m pretty damn bullish right now. I don’t know if that’s stupid or not but I’m pretty damn bullish. I haven’t been this bullish since early 2017.”

As for his long-term BTC forecast, the veteran trader believes that Bitcoin is poised to ignite a massive rally within the next six months.

“Let’s be reasonable here. Let’s say we have a 300% move. That takes us to $50,000.”

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However, Vays believes Bitcoin will suffer a massive devaluation after going as high as $50,000 before recovering and climbing above $100,000.

“I can see a 50% crash, which would take us to about $20,000 to $25,000. Let’s say we go back to $20,000 – the prior swing high… And then from there, I could see, this would be fast, I could see a slow grind back up to $50,000. 

From this $50,000 area or let’s from that $40,000 area, we go up another 300% to 400%. This is something that’s realistic to me. That takes us to say $150,000 from there. How long would that take? Before the next halving.”

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Art Furnace

Source: https://dailyhodl.com/2020/10/26/crypto-analyst-tone-vays-says-bitcoin-btc-breakout-not-over-yet-predicts-timeline-for-300-rally/

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Bitcoin Breaks New 2020 High As Total Market Cap Topped $400 Billion (Market Watch)

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Bitcoin continues with the 2020 records and just a few hours ago marked a fresh high of above $13,350. Most alternative coins followed suit with impressive increases, but the market has calmed since then. The entire cryptocurrency market clocked at above $400 billion.

Bitcoin To Yet Another 2020 High

CryptoPotato reported a few days ago that the primary cryptocurrency exceeded the August 2020 high of about $12,500 and reached $13,200. What followed was a slight retracement to about $13,000 and stagnation yesterday.

Nevertheless, the volatility returned in the past 24 hours, and BTC headed towards new highs. This time, Bitcoin broke above $13,350. In fact, according to data from Bitstamp, BTC’s new 2020 high is at $13,362.

Another sharp rejection followed, and the asset tanked briefly below $13,000. Nevertheless, the bulls have since driven it above the coveted mark, and BTC trades at about $12,940.

A compelling chart recently revealed that Bitcoin is forming an inverse head and shoulders pattern. If it’s to play out, the cryptocurrency could soon skyrocket even further and top its all-time high of $20,000.

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If this scenario is indeed to materialize, Bitcoin would have to break above the resistance lines at $13,420, $13,500, $13,815, and $14,000 before reaching new records.

btcusd_chart
BTC/USD. Source: TradingView

Altcoins Follow Up And Calm Down

Most alternative coins experienced similarly increased volatility as Bitcoin. Ethereum surged to a new 7-week high of nearly $420. However, ETH quickly retraced and is now hovering around $409 again.

Ripple’s highest level came at about $0,26, but XRP has since decreased to below $0.253.

Thus, on a 24-hour scale, most larger-cap altcoins have remained essentially at the same positions as yesterday, despite the brief price jumps. Chainlink and Litecoin have registered the most gains of about 3.6%. LINK trades close to $12.35, and LTC is positioned at $56.3.

heatmap
Cryptocurrency Market Heatmap. Source: Quantify Crypto

The most impressive gainer since yesterday is Filecoin. After the recent controversy and continuous price slump, FIL has surged by 45% in the past 24 hours.

Ocean Protocol (18%), Quant (17.5%), THETA (10.2%), Reserve Rights (10.2%), and Ampleforth (10%) have also increased by double-digit percentages.

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.


Source: https://cryptopotato.com/bitcoin-breaks-new-2020-high-as-total-market-cap-tops-400-billion-market-watch/

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Ripple Board Member Arrested on Cyberstalking Charges

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  • Ripple board member and a close family friend of US President Donald Trump, Ken Kurson, has been arrested following allegations of cyberstalking.
  • According to the New York Times, Kurson has stalked and harassed a total of five victims, including his ex-wife.
  • He was reportedly most vicious against a friend of his ex-wife, whom he blamed for his divorce. He used pseudonyms to contact the hospital she worked and sent fraudulent emails claiming that she had an affair with her boss. Kurson also initiated a flood of negative Yelp reviews, threatening emails, and anonymous calls and messages to other hospital employees. 
  • The woman claimed that Kurson had used the same tactics against another female victim, who was fired from her job. The criminal complaint also asserted that the second victim is Kurson’s ex-wife.
  • The public corruption unit of the United States attorney’s office in Brooklyn is handling the case. A judge released Kurson from custody pending trial. 
  • Kurson is a close friend of Donald Trump’s son-in-law Jared Kushner. Kushner had previously appointed Kurson as the editor in chief when he owned The New York Observer in 2013. 
  • In 2018, the Trump administration offered Kurson a seat on the board of the National Endowment for the Humanities. After a routine background check from the Federal Bureau of Investigation, Kurson withdrew from consideration.
  • Kurson joined the board of directors at Ripple in early 2017. The announcement highlighted that Kurson was one of the first investors in the company. 

Featured Image Courtesy of CNBC

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Source: https://cryptopotato.com/ripple-board-member-arrested-on-cyberstalking-charges/

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