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BTC/USD Seeking Direction Around 9223: Sally Ho's Technical Analysis 24 May 2020 BTC

Bitcoin (BTC/USD) attempted to extend its recent upward momentum during today’s Asian session as the pair continued to trade above the 9000 figure after bids emerged around the 8800 area during yesterday’s Asian session.  Some minor Stops have recently been elected above the 9196.13 area, representing the 38.2% retracement of the recent depreciation from 9836.99 to 8800.00.  Buying pressure also emerged around the 9044.73 area, representing the 23.6% retracement of the depreciating range.   Additional upside price retracement levels that traders are monitoring include the 9440.86 and 9592.26 levels.  The recent depreciation was quite technical in nature, as the 8820.08 area...

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The State of Staking in 2020

In 2020, the total market cap of all Proof of Stake (PoS) coins reached $14.5 billion and the staking rewards are getting more compelling. New coins are launching 100% PoS. Old coins are shifting to PoS. PoS is rapidly becoming the de facto consensus mechanism keeping blockchain networks secure while giving dividends to its users. There’s no doubt that PoS is a technical improvement beyond Proof of Work (PoW). It reduces the energy requirements of running a network to a minimum which is very important from an environmental standpoint.  Anyway, PoS doesn’t necessarily solve the scalability problems of PoW. In...

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How will finance look in a year's time? Is bitcoin a representation of something more?

Over the past 10 years, the leading cryptocurrency has definitely experienced some ups and downs.  This year alone has been a good example of those ups and downs.  Recently we are seeing the coin become more of a competitor to gold, something that many people in the world claim to be bitcoins superior. Over the past 10 years or so, the leading cryptocurrency has definitely experienced some ups and downs. This year alone has been a good example of those ups and downs. Recently though we are seeing the King coin become more of a competitor to the likes of...

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Offers Around 9267 Slow BTC/USD's Move Higher: Sally Ho's Technical Analysis 23 May 2020 BTC

Bitcoin (BTC/USD) gave back some earlier gains during today’s Asian session as the pair fell to the 9129.40 area after peaking around the 9267.34 area during yesterday’s North American session.  Stops were elected above the 9060.07 and 9208.54 levels during the move higher, representing the 23.6% and 38.2% retracements of the recent depreciation from 9836.99 to 8820.08.  Additional Stops were reached above the 9242.11 area during the move higher, representing the 38.2% retracement of the appreciation from 8106.70 to 9943.93.  If the pair is able to resume its upward trajectory, traders will pay close attention to levels including the 9328.54,...

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Is A Bitcoin Death Spiral Possible?

Bitcoin came into existence as something that would remedy the ills of fractional reserve banking after the financial crisis of 2008-09. Most new investors that found out about it never asked too many questions as for most of them it was about more than just an investment; it was about a vision. Unfortunately, all of that got lost when we saw groups after groups of quick buck artists and conmen distort Satoshi’s vision. Many Bitcoin traders and investors are bullish long term because they see Bitcoin as something that could become a global currency, at least for the masses if...

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