Bitcoin News Alerts | Daily BTC Macro Signal

The widely followed crypto trader and analyst who accurately called the current cryptocurrency market downturn says the pain is nearly over and has a particular price target for Bitcoin in mind.

Pseudonymous trader Capo tells his 400,000 Twitter followers that the flagship crypto asset (Bitcoin) is in the process of forming a bottom about 17% down from current prices.

"BTC low time frame. Local bottom formation between $16k-17k."

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A closely tracked crypto analyst is mapping out a potential scenario for Bitcoin (BTC) to trap bears and rally above $30,000 per BTC.

In a new strategy session, pseudonymous analyst Cred says that while Bitcoin still looks bearish, he sees a setup where the king cryptocurrency (BTC_ ignites a "meaningful" rally.

"What would the target for that be? I think to some extent it would require retracing much of the selling that took us here – a lot of this one-sided inefficient price action. On the weekly timeframe, my eye is drawn towards as far as it may seem at least the previous range low, broken support, turned resistance at $32,000."

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A popular crypto strategist who has accurately sounded the alarm on crashing crypto prices this year is now updating his forecast for the top two digital assets, Bitcoin (BTC) and Ethereum (ETH).

The pseudonymous crypto trader known as Capo says that the king cryptocurrency (Bitcoin) has been experiencing a pattern of support/resistance flips, where the previous support low becomes the next ceiling of resistance.

He tells his 392,900 Twitter followers that investors repeatedly fool themselves into believing that a brief relief rally means that BTC has reached a cycle bottom.

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The chief executive officer of blockchain technology company Blockstream, Adam Back, says that the leading crypto asset Bitcoin could see a 5x increase in price by the end of the year hitting $100K per BTC.

"Everyone has their pet macro-views. My guess: stock market + US election season, moral hazard kicks up, quantitative easing ramps up again, rates drop again, money printer goes into overdrive. So the interest rate overhang falls off, and BTC decorrelates somewhere along the way once DeFi (decentralized finance) flushed.

My permabull case for BTC/USD [is] $100,000 this year. Plus a US physical Bitcoin ETF chaser (GBTC upgrade + other) would create a nice whipsaw and probably trigger a big uncoupling and positive reflexivity into a blow off top next year."

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Billionaire "Bond King" Jeffrey Gundlach believes Bitcoin will plummet further to $10,000 per BTC despite having already fallen by about 70% from its all-time high.

In a new CNBC interview, the CEO of asset management firm DoubleLine Capital says he wouldn't be "surprised at all" if the flagship crypto asset fell by more than 50% from the current levels to around $10,000.

"The trend in crypto is clearly not positive. I mean it topped out a long time ago. Remember, I was with you in July of last year, and Bitcoin was up at like $60,000 or something. And then it dropped down to $30,000…

It managed to rally back but it looks like it is being liquidated. So I'm not bullish at $20,000 or $21,000 on Bitcoin. I wouldn't be surprised at all if it went to $10,000."

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Despite the recent crash of the crypto market, the British cryptographer and an outspoken supporter of Bitcoin – Adam Back – thinks the king cryptocurrency (BTC) could tap $100,000 by the end of 2022.

"My permabull case for BTC/USD $100k this year. plus a US physical bitcoin ETF chaser (GBTC upgrade + other) would create a nice whipsaw and probably trigger a big uncoupling and positive reflexivity into a blow off top next year. no leverage bois."

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Doubleline Capital CEO Jeffrey Gundlach, also known as the "bond king," says he would not be surprised at all if the Bitcoin price falls to $10,000.

"We've already seen around the edges some blowups in parts of the crypto world, and that could be foreshadowing some problems," he explained.

The billionaire bond king explained that when the BTC price fell below $30K, its chart indicated that $20K "was going to happen quickly, and it did." Emphasizing that "The trend in crypto is clearly not positive," Gundlach opined:

"I'm not bullish at that $20,000 or $21,000 on bitcoin. I wouldn't be surprised at all if it went to $10,000."

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Microstrategy CEO and Bitcoin mega bull Michael Saylor debunked the rumor that his company is close to having to liquidate its BTC to meet a margin call for a Bitcoin-backed loan. The rumor intensified as the price of the king crypto (BTC) continued to plummet after the weekend sell-off.

However, Saylor tweeted Tuesday:

"When Microstrategy adopted a bitcoin strategy, it anticipated volatility and structured its balance sheet so that it could continue to hodl through adversity."

The Bitcoin price dipped below the $21K level this week. However, Microstrategy told Reuters Tuesday that it has not received a margin call, emphasizing:

"We can always contribute additional bitcoins to maintain the required loan-to-value ratio."

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A closely followed crypto capitalist is issuing a warning that Bitcoin (BTC) and Ethereum (ETH) are on the verge of another massive sell-off event despite being down big from their all-time highs.

Former BitMEX CEO Arthur Hayes says that he's keeping a close watch on on-chain data using decentralized finance (DeFi) analytics platform Parsec.

If these levels break, $20,000 BTC and 1,000 ETH, we can expect massive sell pressure in the spot markets as dealers hedge themselves. We can also expect that there will be some over-the-counter dealers and that will be unable to hedge properly and might go belly up."

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The veteran crypto trader who accurately called the Bitcoin 2018 meltdown is issuing a fresh warning that a severe correction could be looming for the king cryptocurrency (BTC).

Seasoned market analyst Peter Brandt tells his 651,800 Twitter followers Bitcoin must recover its May 31st high of around $32,000 to avoid the risk of a massive capitulation event, sending Bitcoin to a low of $12,700.

"Unless Bitcoin (BTC) can close above the May 31st high, this chart could become a textbook example of the famed 'Drano' chart pattern."

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