{"id":378654,"date":"2019-04-16T17:00:00","date_gmt":"2019-04-16T17:00:00","guid":{"rendered":"https:\/\/wncen.com\/?p=378654"},"modified":"2024-06-11T16:39:30","modified_gmt":"2024-06-11T16:39:30","slug":"risk-appetite-to-drive-bitcoin-btc-as-price-struggle-in-a-500-range","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/risk-appetite-to-drive-bitcoin-btc-as-price-struggle-in-a-500-range\/","title":{"rendered":"Risk Appetite to Drive Bitcoin (BTC) As Price Struggle in a $500 Range"},"content":{"rendered":"<ul>\n<li><em>Bitcoin (BTC) back to read, will sellers flow and force liquidation?<\/em><\/li>\n<li><em>Analysts are upbeat, expect Bitcoin (BTC) to close higher by end year<\/em><\/li>\n<\/ul>\n<p><em>Thomas Lee of Fundstrat is quite conservative with his projection, placing $10,000 at the end of the year. As more analysts are upbeat, a contrarian move may see Bitcoin (BTC) bears flow, driving prices to $4,800 or lower in a retest.<\/em><\/p>\n<h2>Bitcoin Price Analysis<\/h2>\n<h3>Fundamentals<\/h3>\n<p>It doesn\u2019t take much to conclude that there is a revival in Bitcoin and crypto. After a frigid and an extended Bitcoin winter that squashed enthusiasm shaving value off crypto assets, Bitcoin and digital asset aficionados have multiple reasons to be jubilant.<\/p>\n<p>Well, it is not only because of prospects and talks of parabolic rises and what nots, but it\u2019s more about the shifting view in Wall Street and traditional companies. Although last year\u2019s drop did drain $500 billion off the crypto market, investors are ready to take chances with Bitcoin.<\/p>\n<p>That means investment in an asset whose market is getting deeper by the day meaning volatility is tapering. Thomas Lee of Fundstrat Global Advisors <a href=\"https:\/\/www.marketwatch.com\/story\/dont-look-now-but-bitcoin-is-showing-signs-of-life-2019-04-13\" rel=\"nofollow\">says<\/a> \u201c<em>Risk appetite is positive for Bitcoin\u201d <\/em>adding that<em> \u201cIf the S&amp;P 500 made a 2.5 standard deviation move [as it has done year-to-date] and investors are looking for vol [volatility] that\u2019s building a base case for Bitcoin.\u201d<\/em><\/p>\n<p>Because of this, the staunch Bitcoin bulls believe that the coin has more room for upsides and would easily test $10k by the end of the year. Add this to central banks changing their position and even readying for negative rates, it\u2019s only a matter of time before the rosy house of cards propped by \u201cfree\u201d money oozing from accommodative monetary policy collapse fueling the next wave of higher highs.<\/p>\n<h3>Candlestick Arrangements<\/h3>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-378656\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/04\/Bitcoin-Daily-Chart-Apr-16.png?resize=1366%2C768\" alt=\"Bitcoin BTC\" width=\"1366\" height=\"768\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/04\/Bitcoin-Daily-Chart-Apr-16.png?w=1366 1366w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/04\/Bitcoin-Daily-Chart-Apr-16.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/04\/Bitcoin-Daily-Chart-Apr-16.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/04\/Bitcoin-Daily-Chart-Apr-16.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/04\/Bitcoin-Daily-Chart-Apr-16.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/04\/Bitcoin-Daily-Chart-Apr-16.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/p>\n<p>Price wise and <a href=\"https:\/\/wncen.com\/2019\/04\/15\/bulls-chorus-bitcoin-btc-steady-above-5000-despite-liquidation-risks\/\" target=\"_blank\" rel=\"noopener noreferrer \">Bitcoin (BTC)<\/a> is back to red, consolidating within a close $500 range with caps at $5,500 and support at $5,000. Although we are net bullish expecting higher highs, it is imperative that accompanying momentum is high.<\/p>\n<p>As a result, the only move that would signal trend continuation is a wide-ranging bull-bar closing above $5,500, breaking above the consolidation and confirming buyers of Apr-2.<\/p>\n<p>While we are upbeat, we cannot also discount prices crumbling below the 38.2 percent Fibonacci retracement line at around $4,950\u2014streams from BitFinex, to approximately $4,500 or the 78.6 Fibonacci level of Apr 2-3 high low in a retest.<\/p>\n<h2>Technical Indicators<\/h2>\n<p>As mentioned above, buyers may be in charge, but for trend continuation, then we must see a rally past $5,500. That means a complete reversal of Apr-11 losses. Accompanying this move should be high volumes exceeding 19k. Similarly, any drop below $4,950 will confirm bears of Apr-11, triggering sell-off towards $4,500.<\/p>\n<p><strong><em>Chart courtesy of Trading View<\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin (BTC) back to read, will sellers flow and force liquidation? Analysts are upbeat, expect Bitcoin (BTC) to close higher by end year Thomas Lee of Fundstrat is quite conservative with his projection, placing $10,000 at the end of the year. As more analysts are upbeat, a contrarian move may see Bitcoin (BTC) bears flow, driving prices to $4,800 or lower in a retest. Bitcoin Price Analysis Fundamentals It doesn\u2019t take much to conclude that there is a revival in Bitcoin and crypto. After a frigid and an extended Bitcoin winter that squashed enthusiasm shaving value off crypto assets, Bitcoin and digital asset aficionados have multiple reasons to be jubilant. Well, it is not only because of prospects and talks of parabolic rises and what nots, but it\u2019s more about the shifting view in Wall Street and traditional companies. Although last year\u2019s drop did drain $500 billion off the crypto market, investors are ready to take chances with Bitcoin. That means investment in an asset whose market is getting deeper by the day meaning volatility is tapering. Thomas Lee of Fundstrat Global Advisors says \u201cRisk appetite is positive for Bitcoin\u201d adding that \u201cIf the S&amp;P 500 made a 2.5 standard deviation move [as it has done year-to-date] and investors are looking for vol [volatility] that\u2019s building a base case for Bitcoin.\u201d Because of this, the staunch Bitcoin bulls believe that the coin has more room for upsides and would easily test $10k by the end of the year. Add this to central banks changing their position and even readying for negative rates, it\u2019s only a matter of time before the rosy house of cards propped by \u201cfree\u201d money oozing from accommodative monetary policy collapse fueling the next wave of higher highs. Candlestick Arrangements Price wise and Bitcoin (BTC) is back to red, consolidating within a close $500 range with caps at $5,500 and support at $5,000. Although we are net bullish expecting higher highs, it is imperative that accompanying momentum is high. As a result, the only move that would signal trend continuation is a wide-ranging bull-bar closing above $5,500, breaking above the consolidation and confirming buyers of Apr-2. While we are upbeat, we cannot also discount prices crumbling below the 38.2 percent Fibonacci retracement line at around $4,950\u2014streams from BitFinex, to approximately $4,500 or the 78.6 Fibonacci level of Apr 2-3 high low in a retest. Technical Indicators As mentioned above, buyers may be in charge, but for trend continuation, then we must see a rally past $5,500. That means a complete reversal of Apr-11 losses. Accompanying this move should be high volumes exceeding 19k. Similarly, any drop below $4,950 will confirm bears of Apr-11, triggering sell-off towards $4,500. Chart courtesy of Trading View<\/p>\n","protected":false},"author":384,"featured_media":344599,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1119],"class_list":["post-378654","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc"],"acf":[],"yoast_head":"\n<title>Risk Appetite to Drive Bitcoin (BTC) As Price Struggle in a $500 Range<\/title>\n<meta name=\"description\" content=\"Bitcoin (BTC) back to read, will sellers flow and force liquidation? 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His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto. The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance. His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry. Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion. Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers. DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations. Even so, DeFi isn't a magic solution. 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His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto. The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance. His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry. Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion. Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers. DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations. Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature. When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills. You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.","sameAs":["https:\/\/www.linkedin.com\/in\/dalmas-ngetich-40a67a147\/","https:\/\/x.com\/Dalmas_Ngetich"],"url":"https:\/\/wncen.com\/author\/dalmasngetich\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Risk Appetite to Drive Bitcoin (BTC) As Price Struggle in a $500 Range","url":"http:\/\/wncen.com\/news\/risk-appetite-to-drive-bitcoin-btc-as-price-struggle-in-a-500-range\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/risk-appetite-to-drive-bitcoin-btc-as-price-struggle-in-a-500-range\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2018\/08\/techanalysis-btc5.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2018\/08\/techanalysis-btc5.jpg?fit=1200%2C600"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Dalmas Ngetich"}],"creator":["Dalmas Ngetich"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btc"],"dateCreated":"2019-04-16T17:00:00Z","datePublished":"2019-04-16T17:00:00Z","dateModified":"2024-06-11T16:39:30Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Risk Appetite to Drive Bitcoin (BTC) As Price Struggle in a $500 Range\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/risk-appetite-to-drive-bitcoin-btc-as-price-struggle-in-a-500-range\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/risk-appetite-to-drive-bitcoin-btc-as-price-struggle-in-a-500-range\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2018\\\/08\\\/techanalysis-btc5.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2018\\\/08\\\/techanalysis-btc5.jpg?fit=1200%2C600\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Dalmas Ngetich\"}],\"creator\":[\"Dalmas Ngetich\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btc\"],\"dateCreated\":\"2019-04-16T17:00:00Z\",\"datePublished\":\"2019-04-16T17:00:00Z\",\"dateModified\":\"2024-06-11T16:39:30Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2018\/08\/techanalysis-btc5.jpg?fit=1200%2C600","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/378654"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/384"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=378654"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/378654\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/344599"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=378654"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=378654"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=378654"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}