Fundstrat’s Tom Lee Predicts Bitcoin Recovery, But Lowers End-Year Target to $15K

Wall Street analyst and cryptocurrency bull Tom Lee has nearly cut his end-year Bitcoin (BTC) price target in half from $25,000 to $15,000, CNBC reported Nov. 16. According to Lee – the co-founder of market advisory firm Fundstrat Global Advisors – the key factor behind his new target is Bitcoin’s “break-even point,” or the level at which the cost to mine Bitcoin matches its trading price, as CNBC reports. According to Fundstrat’s data, this point is at around $7,000. Bitcoin is currently trading well below this value – $5,550 at…

Price Holding Losses, Eyes Recovery as Dollar Slides

Twitter Facebook LinkedIn The bitcoin price on Friday plunged 0.85 percent against the US dollar, now trading at 5528-fiat. Bitcoin Price Seeks to Claw Back Lost Ground The digital currency has had a shocking week so far, with its value losing almost $1,200 within just five days. Not only bitcoin, but the entire cryptocurrency market also had to “bear” losses worth billions of dollars as a civil crypto war brewed inside the Bitcoin Cash community. It has already led to the split of Bitcoin Cash blockchain. Now, the market expects a…

XLM/USD, ADA/USD Gains Setting Pace for Inevitable Altcoin Price Recovery

Even with ball park +75 percent losses from 2017 highs, the altcoin market is ripe for a reversal as XLM/USD and ADA/USD reject lower lows. Meanwhile, EOS/USD and LTC/USD are near important support levels and today could determine short term price trajectory. Let’s have a look at these charts: EOS/USD Price Analysis Back to back losses mean none of our trade conditions are live. However, a glance at the chart indicate that sellers are in charge and could drive prices below $5 triggering aggressive sellers into action aiming at $4.…

Recovery in Doubt as Bitcoin Price Drops Out of Bullish Channel

Bitcoin is painting a less bullish picture than 24 hours ago, following a drop out of an ascending price channel. Stepping back, the leading cryptocurrency picked up a strong bid at $6,200 on Oct. 31, keeping the crucial 21-month EMA support intact. Further, it witnessed a symmetrical triangle breakout earlier this week, suggesting that bulls had come out victorious in a tug of war with the bears. The breakout had looked legitimate as the technical indicators turned increasingly bullish. In particular, the relative strength index rose to a three-month high…