Target Price Range: $42,000–47,000
BTC is up ~10% from the July close
Since Sept. 7, Bitcoin has fallen from highs near $53,000 back into the mid $40,000s. I’ve been watching that $50,000 price level for weeks now.
Once again, the world’s largest cryptocurrency by market cap is consolidating below $50k. Last week, Bitcoin broke the psychological barrier briefly before retracing to current levels.
Target Price Range: $47,000–50,000
On the month, BTC is up ~24%.
The August close looks to be within or near the target range. The first week of September will be telling for the crypto markets.
Traditional and crypto markets alike are sorting out recent comments from Fed Chair Jerome Powell, who said that the central bank is cautious, but that tapering could begin before the end of the…
At the start of the current crypto bull market, I wrote a piece called Are You Prepared for $100,000 Bitcoin? It was December 2020.
By mid-April 2021, the world’s largest cryptocurrency by market capitalization hit an all-time high north of $64,000.
It’s time to revisit this topic and reconsider what happens when Bitcoin does, in fact, touch $100,000.
$50,000 is a big, round number that brings with it plenty of psychological roadblocks. …
I mine crypto to stack Bitcoin.
That’s my goal — ultimately earning more BTC by converting the mining rewards from my GPU mining rig.
In 2020, I built an Ethereum mining rig. I got the rig up and running right before the cryptocurrency bull market. Soon after, there was a graphics cards shortage and any available or secondhand rig parts were overpriced.
While I was able to add cards to my rig in late 2020, I waited until August 2021 to add another. I was able to get one GPU at a Micro Center for MSRP. …
Crypto market sentiment and my take.
TARGET PRICE range is $42,000–53,000.
Bitcoin is trading near $46,000 on Monday. The world’s largest cryptocurrency by market cap is up ~5% in the last week.
$50,000 is within reach.
In the last month, Bitcoin is up ~40% from lows around $29,000–30,000 in mid-July. Now, it faces a big test.
Psychologically, $50k is a nice round number. Sometimes — it’s that simple. We have to also consider that a 40% move up from July lows means that recent buyers will take…
Bitcoin is trading near $45,000.
In the last month, the world’s largest cryptocurrency is up ~40%, rallying from lows around $29,000–30,000. Now, it faces a new test in August.
The all time high Bitcoin price as of writing is $64,834.44. Bitcoin hit ATH price territory with 24 hours of Coinbase going public. Since then (mid-April) it has been battling FUD (fear, uncertainty, doubt) around any of the following topics on a 24/7 basis:
I’ve been mining cryptocurrency since 2020. I know miners who’ve been at it for much longer though. I wish I’d been mining for years but I do have a solid, small but efficient home mining setup now.
Here are a few other things I wish I’d done differently or had done from the start of my crypto mining journey.
This is an obvious one — I wish I’d bought more mining equipment when I first started GPU mining cryptocurrency.
Hindsight is 20/20 but it’s easily the biggest regret I have when it comes to crypto mining. …
Bitcoin is trading near $40,000 after topping $42,500 on July 31st.
The July close was $41,626.20, 10% shy of a bullish target of $45,000. The slow and steady upward movement of a wider trading range is, however, signaling strength.
NEW TARGET price range is $34,000–42,000.
A drop below $34,000 reopens $30,000.
I’M OVERALL BULLISH on current Bitcoin and crypto market price action. This is in spite of the following regulatory uncertainty.
First they ignore you, then they laugh at you, then they fight you, then you win.
The war on Bitcoin has begun.
$30,000 is being tested.
The crypto markets fell Monday… along with traditional markets. Why the dip?
In traditional markets, there’s concerns around the delta variant and a rise in Covid cases. This could slow economic growth and the “reopening” economy. That said, U.S. markets remain up nearly 100% from March 2020 lows.
BITCOIN FAILS RECENT TESTS. Bitcoin has failed to breakout above either the wider or tighter price ranges I’ve been watching.
It found resistance at both levels.
For more insight, read this but I’ll mention the price ranges below. …
China is cracking down on Bitcoin.
The Chinese government has had a love-hate relationship with Bitcoin since its inception. Chinese retail investors have played a major role in the story of Bitcoin. So have Chinese miners. Now, China is taking a stricter stance and enforcing actual crackdowns on both mining and more general cryptocurrency retail transactions.
They’ve threatened Bitcoin bans and crackdowns in the past. This time, however, we’re seeing more widespread enforcement.
The answer is unclear, but there are two prominent theories — both of which are unsurprising. China has regulations around the flow of money within and leaving…