The total crypto market cap recovered sharply after testing the key $210.0B support area.Bitcoin price jumped back above the $7,800 and $8,000 resistance levels.Bitcoin cash price is up more than 5% and it recently broke the key $400 resistance.EOS price is now trading above the $6.00 and $6.15 support levels, with a positive bias.Stellar (XLM) price is currently consolidating gains above the $0.1300 and $0.1320 levels.Tron (TRX) price is slowly moving higher towards the key $0.0300 resistance level.The crypto market cap is gaining momentum, with positive moves in bitcoin (BTC) and Ethereum (ETH). Besides, BCH, stellar (XLM), ADA, EOS, ripple, and tron (TRX) are likely to accelerate higher.Bitcoin Cash Price AnalysisBitcoin cash price declined heavily this past week and broke the $385 and $365 support levels against the US Dollar. The BCH/USD pair tested the $350-355 support area and recently bounced back sharply. It broke the $385 and $400 resistance levels to move back in a positive zone.The current price action is positive above $405, with an immediate resistance near the $425 level. A clear break above the $425 resistance may push the price towards the $430 and $440 levels.Stellar (XLM), EOS and Tron (TRX) Price AnalysisEOS price climbed back above the $6.00 pivot level after a strong downside correction. The price is now trading well above the $6.20 support level and it seems like it could even make an attempt to surpass the key $6.50 resistance level in the near term.Stellar price remained stable after it surged above the $0.1100 and $0.1200 resistance levels. XLM price is now trading nicely above the $0.1350 level and it could soon trade above $0.1400 and $0.1420. On the downside, the main supports are $0.1320 and $0.1300.Tron price failed to stay above the $0.0300 level for a long time. TRX price declined towards the $0.0265 support level and it is currently correcting higher. On the upside, there are many hurdles near the $0.0295 and $0.0300 levels.Looking at the total cryptocurrency market cap hourly chart, there was a sharp upward move above the $220.0B and $230.0B resistance levels. The trend line and support near $210.00 and $215.0B proved significant, resulting in a strong upward move. The market cap is now above the $235.0B level and it recently tested the $247.0B level. In the short term, there could be a downside correction, but the $230.0B level is likely to act as a strong support. On the upside, there are many hurdles near $248.0B and $250.0B, above which the market cap could rally to $260.0B. Overall, there could be more upsides in bitcoin, Ethereum, EOS, ripple, litecoin, bitcoin cash, XLM, TRX, BNB, WAN, WTC, ICX, and other altcoins in the near term.
Archives for May 19, 2019
Ripple price formed support near the $0.3610 level and recently recovered against the US dollar.The price traded towards $0.4300 and it is currently correcting lower towards $0.3900.There is a short term rising channel forming with support near $0.3950 on the hourly chart of the XRP/USD pair (data source from Kraken).The pair is likely to bounce back above $0.4100 or could decline sharply towards the $0.3610 support.Ripple price seems to be following a decent bullish path against the US Dollar, but struggling vs bitcoin. XRP is likely to find a strong support near $0.3950 and it could climb back above $0.4100.Ripple Price AnalysisAfter a strong decline, ripple price found support near the $0.3610 against the US Dollar. The XRP/USD pair started a decent rebound and traded above the $0.3850 and $0.4000 resistance levels. The recent recovered was convincing since the price traded towards $0.4200 and settled above the 100 hourly simple moving average. A swing high was formed at $0.4295 and the price recently corrected lower. It traded below the $0.4150 support and the 23.6% Fib retracement level of the recent leg from the $0.3632 low to $0.4295 high.The price is now approaching a key support area near the $0.4000 and $0.3950 levels. There is also a short term rising channel forming with support near $0.3950 on the hourly chart of the XRP/USD pair. The 50% Fib retracement level of the recent leg from the $0.3632 low to $0.4295 high is also near the $0.3960 level. Moreover, the 100 hourly simple moving average is also acting as a support near $0.3960. If there is a downside break below the $0.3960 support, there are chances of more losses.The next key support is near the $0.3780 level. If there are further losses, the price may revisit the $0.3610 support area. Conversely, if the price bounce back, it could retest the $0.4200 and $0.4300 levels. Above $0.4300, the price is likely to rise towards the $0.4500 level.Looking at the chart, ripple price is clearly trading near a few important supports near the $0.3950 level. Therefore, the price could either bounce back or break $0.3950 to decline further. The technical structure is positive and it seems like there are chances of a fresh increase above $0.4200 and $0.4300. However, a successful follow through above $0.4300 could open the doors for more gains in the near term.Technical IndicatorsHourly MACD – The MACD for XRP/USD is slowly moving in the bearish zone, with a few negative signs.Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is just above the 50 level, with a positive angle.Major Support Levels – $0.3950, $0.3780 and $0.3610.Major Resistance Levels – $0.4200, $0.4300 and $0.4500.
ETH price rebounded nicely and traded above the $240 and $250 resistances against the US Dollar.The price tested the $265 level and it is currently correcting lower towards the $240 support.There is a key bullish trend line forming with support near $240 on the hourly chart of ETH/USD (data feed via Kraken).The pair is likely to find a strong buying interest near $240 and the 100 hourly simple moving average.Ethereum price remains in a strong uptrend above $240 versus the US Dollar, but consolidating vs bitcoin. ETH is currently correcting lower, but dips remains supported near $240.Ethereum Price AnalysisAfter forming a decent support base, Ethereum price rebounded nicely and traded above the $240 and $250 resistances against the US Dollar. The ETH/USD pair even cleared the $260 level and settled well above the 100 hourly simple moving average. A swing high was formed near $265 and recently the price started a downside correction. It declined below the $260 level and the 23.6% Fib retracement level of the recent leg from the $232 low to $265 high.It even traded below $255 and it is currently tested the $248-250 support area. The 50% Fib retracement level of the recent leg from the $232 low to $265 high is also acting as a support. To the downside, there is a strong support forming near the $240 level. Besides, there is also a key bullish trend line forming with support near $240 on the hourly chart of ETH/USD. The trend line coincides with the 76.4% Fib retracement level of the recent leg from the $232 low to $265 high. Therefore, as long as the price is above the $240 support, it is likely to bounce back.More importantly, the 100 hourly simple moving average is near the trend line and the $240 support. If there is a downside break below the $240 support, the price could retest the $232 support area. On the upside, an initial resistance is near $257-258. If there is an upside break above $260, there are high chances of a fresh high above the $265 level in the near term.Looking at the chart, Ethereum price is currently correcting lower towards a few important supports near $240. The bulls are likely to remain active as long as the price is above $240 and the 100 hourly SMA. On the upside, a clear break above $257 and $260 might push the price towards $280.ETH Technical IndicatorsHourly MACD – The MACD for ETH/USD is slowly moving in the bearish zone.Hourly RSI – The RSI for ETH/USD moved down below 40 and it is currently heading towards the 40 level.Major Support Level – $240Major Resistance Level – $260
Although the crypto industry has changed dramatically in its decade-long lifespan, the narrative surrounding Bitcoin (BTC), along with its cardinal value proposition. has been steady, more or less. Yet, there have been a few nuances.Case in point, over recent years, proponents of the cryptocurrency have been wishy-washy with the asset being a Store of Value (SoV) or a Medium of Exchange (MoE). As both arguments have their merits and proofs, a sometimes volatile dichotomy has formed between commentators, researchers, analysts, and investors touting the distinct thought processes.Related Reading: Bitcoin May Be Gearing Up for a Move to $10,000 as Upwards Momentum ContinuesIn fact, many argue that what catalyzed the now infamous hard fork of mid-2017 was an argument about whether BTC was actually, well, digital cash. More and more are coming to the conclusion though that prior to becoming a new form of money, Bitcoin will first need to become the go-to store of value.Bitcoin As Gold 2.0In a recent tweet, Tyler Winklevoss, one of the Winklevi(i) twins and the chief executive of Gemini, noted that he sees Bitcoin as “gold 2.0”. He states that the cryptocurrency “matches or beats” gold across the board. As he said in a previous interview, the only thing that gold has over BTC is a “3,000-year headstart.”Bitcoin is gold 2.0. It matches or beats gold across the board. It’s market cap is ~140bil, gold’s market cap is ~7tril. Do the math!— Tyler Winklevoss (@tylerwinklevoss) May 16, 2019Factual data would confirm this. As Grayscale Investments explained, unlike the metal, BTC is mathematically scarce, capped at 21 million units; BTC is decentralized and verifiable through the Internet; BTC is portable and divisible through digital technologies, and is unconfiscatable. Gold, on the other hand, has an unlimited supply, centralization risks, an inability to be easily divided and moved around, and concerns around its purity. The chart below from Grayscale sums this controversial yet seemingly valid argument up fairly well.Maybe that’s why Grayscale has begun to push for investors to “drop gold”. As NewsBTC reported previously, the firm launched an extensive ad campaign that touted BTC as “gold 2.0.” Grayscale released a 45-second advertisement that depicted two youngers physically “dropping gold” as those around them struggle with the heavy, cumbersome commodity, escaping to what is assumed to a society predicated on the use of digital assets.A No-Gold WorldLet’s say the world realizes the potential that Bitcoin holds, resulting in the world looking to store their value in BTC compared to gold. What would this hypothetical (yet totally possible) world look like? According to HodlWhale, a Seattle-based cryptocurrency investor, a world where Bitcoin has absorbed all the value of the gold in circulation would see BTC valued at $350,000.This figure isn’t exactly baseless. Pre previous reports from this outlet, all physical gold products in circulation are currently valued at approximately $7.83 trillion, while all BTC has a mere $94 billion valuation. If the latter was to fully displace the value of the first, Crypto Voices, an industry analytics and research group, estimated that BTC would swell to a value of a casual $450,000 — slightly above HodlWhale’s estimate.Featured Image from Shutterstock
By CCN: Facebook has reportedly set up a fintech company dubbed Libra Networks in Switzerland. The move clearly correlates with the social media giant’s Project Libra.
According to Reuters, the focus of the fintech is on the blockchain, payments, data analytics, and investing.
Libra Networks, which was registered in Geneva on May 2, will provide financial and technology services. Also in its wheelhouse will be developing related hardware and software.
Another Secret Move
Given Facebook’s history of boasting about its projects, you’d think it would be bragging about Project Libra. That’s not the case. The Switzerland move was done with no fanfare such as company press releases or blog posts. This seems to be the way Facebook has chosen to roll out its Project Libra.
It’s keeping close to the chest even where the project will be launched. In December, it hinted at plans to set up shop in India. Early reports suggest Zuckerberg’s cryptocurrency will facilitate overseas remittance payments for Indian WhatsApp users.
Facebook’s Secret Cryptocurrency Led by PayPal Alumni Just ‘Months Away’ from India Launch https://t.co/YfEzcEdux3
— CCN.com (@CCNMarkets) May 9, 2019
Facebook launched Project Libra more than a year ago to allow money transfers between WhatsApp users. Over time, however, the scope of the project has expanded. That includes the decision to include e-commerce payments on Facebook and other websites as well as rewards for viewing ads, shopping online, and interacting with content.
When all is done, Facebook hopes to have a stablecoin that is pegged to the value of a local currency.
‘FaceBook Registers Secretive LIBRA Crypto Currency In Switzerland : Reuters
Possibly That Is Why Powerful Tech Lobby NASSCOM Urges RBI 2 Favor Bitcoin Start-Ups ! Floating Currency Is A Prerogative Of A Sovereign Nation So Like China Did Long Back All Should B Totally Banned !
— Madhav Apte (@madhav_apte) May 18, 2019
— Hot New Trending (@HotNewTrending) May 18, 2019
Privacy Issues Haunt Facebook
As Facebook was making arrangements for this Switzerland fintech, it was facing hiring problems on the domestic front. CCN reported that recruiters are complaining that it is increasingly harder to find talent for Facebook’s engineering jobs. Potential hires don’t like the myriad privacy issues that the social media platform has seemingly failed to get a handle on.
They’re taking their talents to other tech giants, like Amazon, Google, and Microsoft.
The project has also drawn scrutiny from U.S. lawmakers. They are concerned that Project Libra will be plagued by Facebook’s failure to adequately secure users’ data.
By CCN: OneCoin execs are sick of being called a Ponzi scheme. Allegations of ripping off churches are false too, they claim.
In a lengthy letter to the Samoa Observer, the cryptocurrency-powered marketing company defended itself against what it considers to be false allegations
OneCoin takes issue with news articles that were used by the Central Bank of Samoa (CBS), which fueled the Ponzi scheme narrative. The CBS has issued clarifications about the information it received about OneCoin’s operations.
OneCoin is alleged to be involved in a $3 billion pyramid scheme. The Manhattan U.S. Attorney claims that the company created a fraudulent cryptocurrency with the intent of defrauding investors. @proskauerhttps://t.co/CQ155s0rBo pic.twitter.com/UkXmqM0Krh
— LexBlog (@LexBlog) May 10, 2019
Denying Pyramid Scheme Allegations
The pyramid scheme allegations stem from a case in which OneCoin was charged with encouraging people to invest and promising a profit. In March, the FBI arrested OneCoin player Konstantin Ignatov based on allegations that he was one of several masterminds behind a multi-billion dollar crypto pyramid scheme.
— Jen McAdam (@JenMcAdamGlobal) April 27, 2019
OneCoin has faced fines and criminal actions around the world – particularly in India, where 22 promoters have already been charged. Meanwhile, China has also levied charges against OneCoin promoters, while several central banks have issued warnings, CCN reported.
That’s not the worst of it. OneCoin was said to be targeting individuals through churches as part of its Ponzi scheme.
A role model? 😂 A pyramid scheme set up by an ex OneCoin advocate, under investigation in Poland with millions seized, banned in Nth America. A role model! Stoooop! #dascoin pic.twitter.com/XBTuvZmpiL
— WheresKeith? (@KeithWheres) May 13, 2019
OneCoin: Media, Banks, and Everyone Has It Wrong
OneCoin’s letter published by the Samoa Observer calls out the CBS for using incorrect information. The company charges that the central bank erroneously used information from the New Zealand Financial Intelligence Unit (NZFIU).
They want to “ensure the legitimacy and objectiveness of the information presented in the mass media” by clearing up “this obvious misunderstanding.” According to the statement:
“Let it be clear that neither OneCoin nor OneLife companies have organization, representation or employees in Samoa and New Zealand. No one has authority to act or make statements on company’s behalf in Samoa and New Zealand.”
In its defense, the company claims it’s not a Ponzi scheme because “OneCoin is a centralized, closed-source cryptocurrency.” They go on to cite anti-money laundering (AML), know-your-customer (KYC) and Combating the Financing of Terrorism (CFT) standards. They state: “Based on that it is much more compliant than decentralized ones.”
The Central Bank’s Unconvincing Response
The CBS issued a clarification notice about OneCoin, but it leaves much to be desired in debunking the allegation that OneCoin is a Ponzi scheme, saying:
“Recent queries have sought why these OneCoin promotions and workshops were only banned recently. CBS had recently amended its Anti-Money laundering laws at the end of June last year. These amendments brought the Promoters of Digital (Crypto) Currency under our Regulatory oversight. Only then were we able to issue notices that any cryptocurrency promotion/ workshop required CBS approval.
As solace, it states:
“Please rest assured that the role of the Central Bank is not to prohibit businesses or cryptocurrency investments; our role is to facilitate and ensure that all the proper processes have been met and that our people are well protected from losing their hard earned money.”
Bitcoin has been on the up-and-up for several weeks and is now once again nearing the $8,000 region despite facing increased selling pressure earlier this week. Despite BTC’s upwards momentum, the aggregated crypto markets have generally failed to outperform Bitcoin since it first began surging.Regardless, one analyst is now expressing the belief that altcoins are currently gearing up for a major move upwards that may be sparked by Bitcoin consolidating.Crypto Markets Climb as Bitcoin Nears Key $8,000 Level At the time of writing, Bitcoin is trading up over 8% at its current price of $7,960, which has led most major altcoins to climb as well.Currently, Ethereum is trading up just under 7% at its current price of $255, XRP is up nearly 8% at its current price of $0.40, and Bitcoin Cash is up a whopping 13% at its current price of $410.Although today has been positive for the aggregated crypto markets, while looking at a 90-day time frame, Bitcoin is up nearly 100%, while Ethereum is up 72%, and XRP is up a mere 20.5%.While taking this into consideration, it becomes apparent that altcoins have significantly further room to surge in the near future, which may occur when Bitcoin’s price finds greater stability and begins forming a consolidation pattern.The Cryptomist, a popular cryptocurrency analyst on Twitter, discussed this possibility in a recent tweet, explaining that a big movement for altcoins may occur towards the end of this month.“$BTC Flagged form on 4hr timeframe. I expect this to be broken by the end of the month, so approx 29th May. Support low as 7.2, resistance high as 8080 regions. If btc stays within this pennant until the end of the month, then I expect ALTS TO MAKE A RUN!” She explained in a recent tweet.$BtcFlagged form on 4hr timeframe
I expect this to be broken by the end of the month, so approx 29th May
Support low as 7.2, resistance high as 8080 regions.If btc stays within this pennant until the end of the month, then I expect ……
ALTS TO MAKE A RUN! 😊 pic.twitter.com/sSydnkzgim— The Cryptomist (@TheCryptomist) May 19, 2019Analyst: Ethereum May Surge in Coming DaysAlthough the aggregated crypto markets may take a couple of weeks to incur any significant upwards momentum, Ethereum may be gearing up for a surge in the next couple of days.The Cryptomist also discussed this in a recent tweet, explaining that she thinks ETH may experience some upwards momentum before the 21st of this month.“$ETH Not too dissimilar to BTC however, we are within the 2hr timeframe. RSI pennant also aligns with this candle pennant. Expecting significant movement before the 21st, which could see the push with alts. Resistance upon 258 region,” she explained.$EthNot too dissimilar to BTC however, we are within the 2hr timeframe
RSI pennant also aligns with this candle pennant.Expecting significant movement before the 21st, which could see the push with alts.
Resistance upon 258 region pic.twitter.com/pce84i0ms8— The Cryptomist (@TheCryptomist) May 19, 2019Depending on how Bitcoin reacts to the lower-$8,000 region, it is likely that traders and analysts will gain a better understanding of where the general crypto markets are heading next.Featured image from Shutterstock.
No one expected what Bitcoin (BTC) did in the past 24 hours. According to Messari’s OnChainFX, the leading cryptocurrency is up 9% in the past 24 hours, finding itself at $7,950 after touching $8,100 earlier today. Altcoins have experienced similar gains, with most rising by nearly seven or eight percent.Related Reading: Bitcoin May Be Gearing Up for a Move to $10,000 as Upwards Momentum ContinuesWhile some have claimed that this move is decidedly bullish, especially considering the context of the seeming Bitstamp manipulation, some are fearful that this is just a precursor to one final drawdown.Bitcoin Could See A PullbackJosh Olszewicz, a leading technical analyst that frequently posts articles to Brave New Coin, suggests that the Ichimoku Cloud, a series of technical indicators meant to determine trends and key levels, is saying that Bitcoin is “insanely overbought”.He goes on to add the Cloud is “calling for $6,150, looking to the fact that one of the indicator’s leading lines, which acts as support in bull runs and resistance in bear trends, sits at that price level. Olszewicz also notes that the Relative Strength Index (RSI) reading on the one-day chart is at 90, which is well overbought, hinting that a move lower may be inbound.1D $BTC– Cloud says this is insanely overbought & calling for 6150
– VPVR likes 6400
– potential rising 3 methods aka bullish continuation
– RSI = 90 at last high, if higher high, almost guarantees bear div
– 10k is the next big lvlmore in 2mrw’s article for @bravenewcoin pic.twitter.com/95EWWa6xtP— Josh Olszewicz (@CarpeNoctom) May 19, 2019He isn’t the first to have pointed to signs that BTC may soon see a reversal. Bravado’s lead analyst, Bitcoin Jack, recently noted that BTC has yet to break above the $8,400 resistance (signaling a local top), potentially setting the stage for a drawdown to $5,000.The Other Side Of The EquationSome, however, have drawn attention to signs that this ongoing move is bullish. Olszewicz notes that according to a textbook chart pattern, the fact that BTC fell for three days, then saw a massive reversal candle to the upside may hint at “bullish continuation”.What’s more, there isn’t much resistance from current levels, $8,000, to $10,000, giving credence to the theory that if BTC breaks above $8,400, another run-up would just be a matter of time. As Crypto Rand, a well-followed chartist on Twitter, explained on Sunday: “Bitcoin [is] heating up for $10,000”.Josh Rager, a representative of fledgling crypto exchange Level, explains that this recent rebound confirms that Bitcoin is looking strong. BTC has continued to see higher lows in the current consolidation pattern, preparing the crypto market for a continuation to the upside.$BTC – continues to look strongHigher lows forming with the current consolidationThis consolidation looks like it is priming Bitcoin for continuation to the upsideA bullish weekly close looks promising pic.twitter.com/PWTdVlioXd— Josh Rager 📈 (@Josh_Rager) May 19, 2019On the side of fundamentals and sentiment, NewsBTC’s Joseph Young has noted that the simple fact that BTC rebounded to $8,000 is a confirmation that many investors are bullish.Featured Image from Shutterstock
— CZ Binance (@cz_binance) May 19, 2019
It looks like investors aren’t the least bit worried about the security of crypto exchange Binance after the hack. Meanwhile, the success of Binance Launchpad in hand-picking, cultivating, and offering new cryptos to investors is holding up the business and keeping demand for BNB strong.
Binance Launchpad Coins Surfing the Rising Tide
Even before retail investors including crypto whales and Wall Street hedge funds started piling up on bitcoin this spring, unmistakably shaking off the crypto winter malaise, Binance Launchpad was leading an altcoin boom in 2019.
In February, Binance launched two simultaneous token-sale sessions for TRON Founder and CEO Justin Sun’s BitTorrent (BTT) – one for purchases in BNB coin and the other for purchases in TRON (TRX). It sold out in 15 minutes. If Binance had deployed more computing power, it could have processed the queue faster and completed the ICO in even less time.
Since its token sale, BTT’s price has risen an astounding 787%.
Binance Launchpad’s Fetch (FET) token sale in March was over in 10 seconds. Those who bought it off the launchpad have fetched 119% returns on their investment. Celer (CELR) later that month and Matic (MATIC) in April have generated 126% and 620% gains from their Launchpad prices, respectively.
It was over in a about 10 seconds. The queue was totally packed within seconds. The processing is just draining the queue slowly. Congrats to @fetch_ai !
— CZ Binance (@cz_binance) February 25, 2019
Binance Is Thriving Despite Recent Hack
Projects are rigorously selected from Binance Launchpad candidates. The successful applicants then enjoy the support of Binance’s startup accelerator. They gain direction, refinement, resources, Binance’s robust promotion muscle, and the benefit of the exchange’s reputation.
Much of the value in Binance Launchpad is having some of the best people and smartest minds in the crypto industry help cryptocurrency investors to decide which coins to buy. It’s a crowded and confusing field of offerings.
The value in Binance overall is the inveterate professionalism and competence of Changpeng Zhao and the Binance team. Crypto investors are showing unshakeable confidence in the world’s largest crypto exchange by volume.
Despite facing increased levels of downwards pressure earlier this week that temporarily put Bitcoin’s upwards momentum in jeopardy, the cryptocurrency has been able to continue surging upwards and is now nearing the low-$8,000 region, which is the point at which BTC incurred significant selling pressure a few days ago.Now, analysts believe that Bitcoin may have more fuel in it that allows it to surge towards $10,000 in the near future, which would be a significant technical movement for the cryptocurrency.Bitcoin (BTC) Nears $8,000… Again…At the time of writing Bitcoin is trading up nearly 8% at its current price of $7,915, up significantly from its 24-hour lows of $7,250.Over a one-week period, BTC has incurred some choppy price action, surging from lows of $6,800 to highs of $8,300 before reeling back to below $7,000. Since dropping below $7,000, Bitcoin has been able to build greater buying pressure that has allowed it to continue its upwards ascent.The recent series of upwards movements have led to a drastic shift in market sentiment, as many analysts and traders alike are currently expressing an overwhelmingly bullish sentiment regarding the aggregated crypto markets.Joseph Young, a popular figure within the cryptocurrency industry, told his nearly 100k followers that BTC’s rapid recovery towards $8,000, in spite of the recent pull back, is a testament to the positive market sentiment.“Bitcoin dropped to $6,400 on May 17 triggered by a 5,000 BTC sell order on Bitstamp that led to massive BitMEX liquidations. Rapid recovery to $8,000 is a testament to how positive the sentiment around the market is currently.”Bitcoin dropped to $6,400 on May 17 triggered by a 5,000 BTC sell order on Bitstamp that led to massive BitMEX liquidations.Rapid recovery to $8,000 is a testament to how positive the sentiment around the market is currently.— Joseph Young (@iamjosephyoung) May 19, 2019Analyst: BTC May Be Heading Towards $10,000 NextAlthough most analysts and investors are currently bullish on the markets, it still remains unclear as to where Bitcoin will surge to before incurring enough resistance that halts its upwards momentum.Crypto Rand, a popular cryptocurrency analyst on Twitter, concisely noted in a recent tweet that he believes this upwards momentum will lead the cryptocurrency towards the coveted $10,000 level.“Bitcoin heating up for $10K,” he told his followers.#Bitcoin heating up for $10K pic.twitter.com/34jIuCocJY— Crypto Rand (@crypto_rand) May 19, 2019As the weekend wraps up and the fresh week begins, traders will likely gain greater insight into whether or not this current rally truly has the makings of an early-stage bull run, or if further consolidation is necessary.Featured image from Shutterstock.