April 22, 2018

$9K: Bitcoin Price Sees First Consecutive Weeks in the Green of the Year

Wilma Woo · April 22, 2018 · 11:00 am

Can bitcoin price post gains two weeks in a row for the first time in 2018? That’s the question traders will soon know the answer to as prices circle $9000 April 22.

$9k: bitcoin Tests Final Resistance

Capping what many believe is a U-turn of its fortunes since December 2017, bitcoin has increased in value by 35% in the past fortnight.

From lows of $6487 April 1, before the first major rally kicked in later that day, BTC/USD saw several sudden upticks as this month progressed, culminating in last Friday’s trip from below $7000 to above $7700 in minutes.

At press time, prices remain even higher, testing resistance around $9000 with just $60 left to climb according to data from several major exchanges.

If current levels hold, bitcoin will succeed in shunning losses for two weeks straight, something which has yet to happen since its decline from last year’s all-time highs around $20,000.

Too Much Too Soon?

Despite optimism returning to markets, however, not everyone is convinced the latest performance will continue.

In the latest edition of his Trading bitcoin series, serial trader Tone Vays cautioned viewers on assuming the downward trend of Q1 2018 was over.

Summarizing his thoughts, Vays said he expected “lower lows” to reappear in future and that he was overall “bearish” on bitcoin price.

LIVE Now for Trading #Bitcoin. Yes, I am still Bearish $BTCUSD & expecting lower lows in the future. Will I be Right? Only Time Will Tell… If you have 0 constructive comments to my vids, you don’t have to watch them, you guys do know that right?https://t.co/xjXxijapd0

— Tone Vays [@bitcoin] (@ToneVays) April 22, 2018

Last week, as price began rising towards $8200, Vays had even forecast levels over $8600 would immediately trigger a correction back to the lower territory around $6500 from April 1.

For the coming months, however, bullish voices from the investment sector have largely sounded out more prudent expectations.

As Bitcoinist reported last week, expert forecasts for BTC/USD by the end of the year have run as high as $100,000, while a report from Saxo Bank, whose analyst Kay Van-Petersen named the price, subsequently identified multiple “springboards” for pushing bitcoin higher in the short term.

What do you think about bitcoin’s price performance? Where is it heading? Let us know in the comments section below!

Images courtesy of Shutterstock, Twitter

bitcoin priceTone Vays Show comments

Published at Sun, 22 Apr 2018 15:00:17 +0000

bitcoin

You might be interested in …

October 22, 2018

Calling all blockchain product managers

Blockchain on Medium Calling all blockchain product managers There are many excellent articles on Blockchain out there. Lot of hype in the market that Blockchain will revolutionize all the aspects of… Continue reading on Medium […]

September 4, 2017

This startup is going to disrupt the music industry with blockchain technology

Viberate is planning to revolutionize the live music industry with its unique platform that utilizes blockchain technology.

[Disclaimer: This is a sponsored article]

The Viberate Platform

Viberate is an exciting project that aims to change the live music industry, by using blockchain technology. The Viberate platform allows users to access a database which displays musicians, event dates, social media statistics, club locations and more. According to the CEO Viberate, the platform has received overwhelming support from the music and blockchain community:

We knew that we’ll stand out, because we already have a working service and a good concept. But we never dreamed of getting so much attention from the community. My phone number seems to be a valuable asset and the whole team keeps getting calls from funds and high net worth individuals we don’t even know. My partner even got a call from a Premier League football player. Crazy!”

Most interesting characteristics of the platform is the fact that musicians will be able to get paid with cryptocurrency for their performances. The platform will also allow event organizers to find an ideal musician for their upcoming events. Musicians will be ranked according to their social media popularity and music genre. The startup was founded by experienced music industry veterans and by famous Slovenian DJ UMEK. Currently, the platform is in the beta phase and soon it’s going to start an initial coin offering.

Viberate ICO

The startup is planning to have an initial coin offering on September 5, 2017. The ICO will be accomplished with a live performance of DJ UMEK, who also is a co-founder of the startup. The token sale is planned to end on Oktober 4, 2017. The Viberate team is expecting to raise the amount of $12 million through its ICO. The amount is planned to be used for the further development of the platform.

[youtube https://www.youtube.com/watch?v=uR9IidHWT0c]

The Viberate team believes that the hard cap of the ICO should be hit within minutes. DJ UMEK expressed following about his upcoming performance:

Of course, we’ll throw a party for when the crowdsale launches! What kind of a music service wouldn’t do that? I prepared a special 90-minute set and I’ll play it in our offices in Ljubljana. We want as many people as possible to celebrate this special event with us, so we’ll stream the set live on Facebook. I hope the neighbors will understand that we might cross a line with loud music for a while. They’re invited anyway

South Korean Travel Site with Over 50,000 Hotels to Accept 12 Cryptocurrencies

bitcoin News South Korean Travel Site with Over 50,000 Hotels to Accept 12 Cryptocurrencies A South Korean travel website with over 50,000 hotels and other types of accommodation facilities will begin accepting 12 cryptocurrencies, thanks […]