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CATEGORY: strategist


Mar 23, 2023 05:50

Bitcoin Supercycle May Be Happening, Says Commodity Strategist Mike McGlone

Bloomberg Intelligence senior commodity strategist Mike McGlone has explained that a supercycle may be happening in bitcoin, noting that the cryptocurrency is beating gold by almost 10 times so far this year. The strategist added that if past trends hold, bitcoin’s volatility is more likely to recover compared to commodities when the crypto “heads toward [...]

The post Bitcoin Supercycle May Be Happening, Says Commodity Strategist Mike McGlone appeared first on Crypto Breaking News.

Apr 21, 2023 05:50

Commodity Strategist Warns US Economy Heading Toward ‘Severe Deflationary Recession’

Bloomberg Intelligence’s senior commodity strategist, Mike McGlone, has warned that the U.S. economy is “heading towards a severe deflationary recession,” emphasizing that the Federal Reserve is still tightening. “Typically, when you have commodities collapsing at this velocity in the past, the Fed has already been easing, and they’re still vigilant against that,” he cautioned. Strategist [...]

The post Commodity Strategist Warns US Economy Heading Toward ‘Severe Deflationary Recession’ appeared first on Crypto Breaking News.

Mar 14, 2023 10:30

US Inflation Data Eases Concerns; Crypto Economy Jumps 11% Higher While Market Analysts Anticipate Fed’s Next Decision

The U.S. Labor Department released the consumer price index (CPI) report on Tuesday. Although inflation increased in February year-over-year, the rise was expected, and the annual inflation rate for all items was 6%. The cooling inflation has eased some concerns, but fears of financial contagion have spread. Market strategists are further anticipating the U.S. central [...]

The post US Inflation Data Eases Concerns; Crypto Economy Jumps 11% Higher While Market Analysts Anticipate Fed’s Next Decision appeared first on Crypto Breaking News.

Feb 11, 2022 12:10

JPMorgan Puts Bitcoin At $150,000 In The Long-Term, But What About Its ‘Fair Value’?

Bitcoin has been on another recovery trend since this past weekend. It has continued on this path which has seen its balance above $44K. For most, this is a low value given that the digital asset was at $69K a few months ago. However, for JPMorgan strategists, this is not the case. Even at the current price which bitcoin has struggled hard to attain, strategist Nikolaos Panigirtzoglou believes that BTC is still overvalued. Bitcoin Fair Value Is 12% Less In a recent research note from JPMorgan, strategist Nikolaos Panigirtzoglou and others share thoughts around bitcoin. Even though the strategists are not particularly bearish on the digital asset, given their long-term outlook, they still believe that bitcoin is slightly overvalued. However, the value which Panigirtzoglou places BTC at is not that far from its current price, so it may be that bitcoin is following closely to what is expected. Related Reading | Crypto Winter Is Thawing With Bitcoin And Ethereum Rebound Signal The team, led by Panigirtzoglou, places bitcoin’s ‘fair value’ at $38,000. The digital asset has since beaten this price point and left it in its rearview mirror, but the JPMorgan strategists say that this is where the asset should be trading at. The strategists calculate the fair value of bitcoin using its volatility compared to that of gold. Currently, BTC’s volatility is roughly four times that of gold. However, when this volatility differential narrows to three times that of gold, the strategist explains that its fair value will then rise to $50,000. “The biggest challenge for Bitcoin going forward is its volatility and the boom and bust cycles that hinder further institutional adoption,” the note read. BTC gains $1K in hours | Source: BTCUSD on TradingView.com Putting BTC At $150,000 JPMorgan has always held a more bullish outlook for bitcoin in the long-term compared to the short-term. Last year, the strategists had put the price of BTC in the long term at $146,000. This had come at a time when the bull rally was in full bloom. At the same time, the strategists had put the price of the digital asset at $73,000 in the short term, a price mark that the asset is yet to hit. Related Reading | Bitcoin Whales Wreck Bears, This Is What Happened Last Time They Were Active This time around, the strategists have moved up their expectations for the digital asset. Despite the bearish short-term outlook, the market strategists believe that bitcoin will go as high as $150,000 in the future. They, however, did not provide a time frame for this, but they have previously said that they expect BTC to hit $73,000 in 2022. Bitcoin has fluctuated between $43,000 and $44,000 in the past 24 hours. The asset fell as low as $43,600 in the early hours of Thursday but quickly picked back up, gaining over $1,000 in value in a matter of hours. It is currently trading at $44,631 at the time of this writing, up 2.36% in the last 24 hours. Featured image from The Guardian, chart from TradingView.com

Sep 07, 2021 12:09

These Three Lagging Altcoins Are Poised For A Breakout, Says Crypto Strategist

Top crypto strategist known as Inmortal has revealed the three altcoins they think is ready for the next breakout. Immortal takes their pick from the top three altcoins that have been lagging recently. Even though they have been performing in the market, not performing to the level of other altcoins like ADA and SOL which have both broken new all-time highs in the market. Related Reading | Data Shows Crypto Hacks And Fraud In 2021 Are On Track For A New Record Inmortal took to their Twitter account, which boasts 64K followers, to share his price predictions with his followers. Generally, the crypto analyst remains bullish on the market, seeing a lot of coins doing better from here on out. Over the course of several days, Inmortal shared their analysis on their Twitter timeline. Revealing the top three altcoins they believe are getting set for a run-up. Playing With The Laggards Inmortal shared three coins that are set to experience a run-up. Litecoin was an obvious favorite for the analyst. Across three digital assets, Bitcoin Cash, EOS, and Litecoin, the analyst sees the most potential with LTC. “Time to play the laggards. LTC is leading the way (old coins),” the analyst posted. Following up with this was BCH and EOS poised to follow the same path as Litecoin. Related Reading | Crypto Needs Regulation If It’s Going To Survive, Says SEC Boss Talking about Litecoin, Inmortal explained that the coin had recently broken out of consolidation. Hence, putting it in a position where it is set to rally. For the crypto analyst, the breakout will see the price run-up to a target of $260. The analyst had earlier tweeted they had bought some Litecoin given its snail pace at the time. The order was filled at $176, while the analyst targeted a price range of $210-$220. Perfect timing. Now teleport this to $260.$LTC https://t.co/1dqSIbYADo pic.twitter.com/TVgAr3dQO3 — Inmortal (@inmortalcrypto) September 3, 2021 Litecoin trading at $223 | Source: LTCUSD on TradingView.com As of the time of writing, Litecoin is trading above $220. And Inmortal has now turned attention to Bitcoin Cash, advising investors to take a look at the Bitcoin fork if they had missed out on Litecoin. Another Crypto Set For A Breakout The crypto strategist was not only focused on the three lagging altcoins. Inmortal also pointed out that he’s waiting for a particular altcoin to breach a crucial point. Taking about Chainlink, Inmortal added that a breach of its immediate resistance against Bitcoin would trigger a buy signal. Related Reading | New To Bitcoin? Learn To Trade Crypto With The NewsBTC Trading Course “The plan is simple. Wait for a clear break above KEY level + 200MA (moving average) to confirm that deviation, then buy/long on a retest, targeting those equal highs at 0.001 BTC ($50),” said the strategist. “High probability 3R setup,” added Inmortal. The analyst puts top cryptocurrency Bitcoin at $60,000 after breaking key resistance level of $50,000. While putting number 2 crypto Ethereum, at $5,000. “It’s long $ETH season, don’t get left behind,” said the analyst. Chart from TradingView.com

May 08, 2023 02:50

Bitcoin price could pace declines for risk assets, senior macro strategist says

Bitcoin is trading just under $28,000 after a fresh rejection near the key technical level of $30,000. Stock futures were largely muted on Monday ahead of a week likely to be punctuated with movement related to reaction to core inflation data. While analysts continue to offer major bullish price predictions for BTC, such as the …

<p>The post Bitcoin price could pace declines for risk assets, senior macro strategist says first appeared on CCNC | Cryptocurrency Newscast.</p>

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