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Hello, guys! 

 

Every person who uses different online payment systems daily needs the best service. Before he/she needed to visit tons of exchangers and compare their terms, rates etc.

 

In 2007 we launched www.bestchange.com exchanger monitor to let thousands of people all over the world use easy and fast way to exchange.

 

It is very comfy to choose the exchanger there; you see all the available options here. All that you need to do is to choose what currency you give and get in the left and right columns. After that you will see the exchanger that exchange that currency pair; the most profitable exchangers are on top. To take a final decision, please read client’s reviews in the same table; the information about limits and reserves is here, too.

 

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For your safety you may use the “Calculator” tool on our website; it helps you to count the amount you get in result. Also, you may create a notification or use double-exchange, check the statistics etc.

 

Save your time with BestChange, make the best rates search super easy and fast.

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Hello, guys!    Every person who uses different online payment systems daily needs the best service. Before he/she needed to visit tons of exchangers and compare their terms, rates etc.

China has published a new cryptocurrency rating Bitcoin is only ranked 14th in the rating. BTC has lost three more positions, giving way to Cosmos (ATOM), Stellar (XLM) and Dash. TOP 3 remains th

Survey: 36% of large institutions invested in Bitcoin Fidelity Investments surveyed 774 institutional investors from Europe and the USA - it turned out that 36% of them had purchased Bitcoin and

I have known about best change for some time now. But the exchanges listed there charges very high commission some certain types of exchanges. It is really disappointing to see those rates. But I understand best change does not have anything to do it the rates. They just list exchangers.

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We also used many time when we need some urgent money and search legit exchanger. :D

Definitely it's a good project. Even we asked to add our Exchanger company to their list. But they told us we are not popular that's why can't be added. I think it's a good point.

 

However at this moment we are older so long. Today i response their mail. Hope so this time they will consider us. :) 

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The U.S. Federal Reserve says they have “infinite amount of cash” — what’s the impact on bitcoin?

 Why BTC will drop to $5,000

A “death cross" formed on the BTC price, a top-down intersection of 50-day and 200-day Moving Average. This will lead to a price drop down to $5,000, Coindesk analyst Omkar Godbole thinks.

However, the drop will not happen immediately: for example, in the spring of 2018 the “cross”, bitcoin price first went up by 50% in a month, and then declined by 70% within six months.

The scenario will be cancelled if BTC can consolidate above $6,460, the analyst writes. Godbole also notes that similar crosses are forming on the Dow Jones Industrial Average and S&P 500 industrial charts.

 Peter Brandt: Bitcoin price will drop by 50%

Well-known trader Peter Brandt believes that BTC will drop below $3,000. Responding to a comment on Twitter, Brandt posted a chart with a “descending flag” figure - if implemented, the price will go to the level of $2,700.

The trader also indicated that having declined below $7,500, bitcoin price broke the long-term support line and moved into a downtrend. Earlier, the analyst said that bitcoin will drop to zero after breaking this level.

 Opinion: cryptocurrency will benefit from the crisis

Unlimited amount of U.S. dollars will positively affect bitcoin, trader Joseph Young believes.

“Fed printing unlimited money to pump markets = good for bitcoin

Devaluation of dollar over the long term = good for bitcoin

Short-term may be gloomy for bitcoin, but long-term prospect of it remains very bright,” Young tweeted.

A similar opinion is shared by Stack analyst Lennard Neo. He expects an influx of capital into cryptocurrencies due to the uncertainty central banks and governments actions amid the crisis.

CEO of Titus Investment Advisors Justin Gillespie notes that quarantine will strengthen the position of cryptocurrency. According to him, “The longer the people can’t go outside to conduct their business, the more useful the cryptocurrency should become as it can be sent and received from the safety of one’s home."

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Cash turnover hits record high in the U.S. and altcoins mentions on Twitter drop to a minimum

 USD banknote turnover hits a 20-year high

From March 11 to March 18, the turnover of cash dollars in the United States increased by $34 billion, shooting up from $1.809 trillion to $1.843 trillion.

This is the largest growth in the last 20 years, economist John Paul Coning points out: the U.S. citizens are withdrawing money from banks amid the coronavirus epidemic. Last time a similar situation was observed in 1999 when people were afraid of digital devices failure due to the "Y2K bug"

It is noteworthy that the current increase in cash circulation is happening despite the WHO recommendations to avoid contact with banknotes, as COVID-19 can be distributed through them.

 Twitter's altcoin mentions drop to a minimum

Twitter users now write about main altcoins less often - the number of mentions per day has dropped to a three-year low.

The number of posts about XRP has decreased by 60% in two months to 2,542. Ethereum was talked about slightly less — the number of tweets with the hashtag #ETH fell to 2,500, which has become the lowest engagement level since February 2017. For comparison: in December 2017, when the altcoin set a maximum price, the number of tweets about it exceeded 51,000.

Bitcoin’s “little brother” LTC has been completely forgotten —Twitter users mentioned the coin only 350 times a day. The popularity of BTC, on the contrary, has grown, its mentions have doubled since the end of January.

 Small miners shutting off will help the price of bitcoin

Blockware CEO Matt D’Souza said. He analyzed the periods of decline of the network’s hash rate and noted that they were followed by a prolonged increase of cryptocurrency price. In his opinion, now the situation may be repeated.

At the moment, the computing power of the BTC blockchain has dropped to 93 EH/s. In mid-March, when the bitcoin exchange rate sank below $4,000, small miners were forced to turn off the equipment, which led to a sharp drop in the hash rate and the difficulty of mining cryptocurrency.

Matt D’Souza notes that this will benefit the price of bitcoin, as private miners quickly sold their coins to not work at a loss.

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Miners will start to switch off after the halving, and Bitstamp plans to expand its listing

 Some miners will stop working after the halving

States a report by an analytic company Coin Metrics. Despite the fact that Bitcoin price has recovered to the level of $6,300, for many miners the breakeven point is higher than that.

“We expect miners to follow a cycle of decreased profit margins, increased selling, capitulation, and a culling of the least efficient miners from the network. Once this cycle is complete, the miner industry should return to a healthier state that is supportive of future price increases,” the analysts say,

Last week, Bitcoin mining complexity fell by a record 16%, according to BTC.com forecasts, after the next eight-day cycle, it will decrease by another 12%. This will also reduce the profitability of mining for inefficient equipment, according to Coin Metrics.

 Bitstamp may launch trading Ethereum Classic, Zcash and Stellar

Bitstamp, one of the first European cryptocurrency exchanges, is considering listing Ethereum Classic (ETC), Stellar Lumens (XLM), Zcash (ZEC), Basic Attention Token (BAT), Paxos Standard (PAX), USD Coin (USDC) and 0x (ZRX).

The platform’s specialists will thoroughly study the technical characteristics of these cryptocurrencies, as well as their compliance with the security requirements of the exchange and the legislation of some countries. It is worth noting that Bitstamp is extremely cautious about listing coins. Currently, only five crypto assets are traded on the platform: Bitcoin, Ethereum, XRP, Litecoin and Bitcoin Cash.

 Cryptocurrency trading volume on exchanges increased by 60%

Trade turnover at 22 popular crypto platforms grew by 61% in Q1 of 2020, according to the report of The Block media.

In the last quarter of 2019, the figure was $96 billion, and currently, it has increased to $154 billion — almost the same level as in Q3 of last year.

The volume of transactions in the Bitcoin network increased by 11% to $ 178 billion, while the amount of commissions remained virtually unchanged at $20.12 million. The average BTC block size has slightly increased: from 1.14 MB to 1.17 MB. In January, the share of SegWit transfers exceeded 70%, and the number of public Lightning channels increased by 3%.

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Bitcoin is again trading above $7,000, and the ETH exchange balance reaches its maximum since 2016

 Bitcoin has gone up to $7,000

BTC price today has gone over the mark of $7,100 —over the past 24 hours, cryptocurrency has strengthened by 5%.

Since March 13, bitcoin has grown in price by more than 80%. Most of the crypto assets from TOP-20 also added in value: Stellar (11.69%), TRON (9.51%) and Ethereum (6.42%) have demonstrated the highest growth.

Earlier we noted that the capitalization of the USDT stablecoin exceeded $6 billion for the first time. A number of analysts attribute the increase of the number of Tether tokens to the rise in bitcoin price.

 ETH exchange balance reaches its maximum since 2016

Since the end of last year, the volume of ethereum stored on trading platforms has increased by 21% to 18.187 million ETH.

According to Glassnode, this is the highest level since December 2016 and it accounts for 16% of all circulating coins. Interestingly, the indicator is inversely correlated with the price of ETH. Thus, for 12 months from December 2016, Ethereum has risen in price from $6 to $ 1,350 — at the same time, the cryptocurrency exchange balance has decreased from 18 to 8 million coins.

On March 13, the ETH price fell to $95, which was the lowest since December 2018. Now the coin is trading near the $154 mark.

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 Bitcoin Cash undergoes halving

On April 8, in the Bitcoin Cash network block reward was halved. It was reduced from 12.5 BCH to 6.25 BCH at block height 630’000. The night before halving, the coin went up from $251 to $275, but today it has again dropped in price to $257. In about 12 hours, halving of Bitcoin SV, another fork of the first cryptocurrency, will happen. According to BSV developer Bat Jasper, this will negatively affect cryptocurrency as it will make its mining less profitable than mining bitcoin. We would like to remind that halving in the network of BTC itself is expected on May 13, the reward will drop from 12.5 BTC to 6.25 BTC.

 U.S. national debt hits a record $24 trillion

According to Trading Economics, the U.S. public debt is currently $24.018 trillion. It grew by an additional $4 trillion over 4 years under Donald Trump. The sharp increase of this figure was caused by the U.S. Federal Reserve program to support the economy during the financial crisis brought about by coronavirus. The regulator intends to print $6 trillion worth of banknotes. Earlier, TV presenter Max Kaiser called the dollar “debt coupons,” and popular writer Robert Kiyosaki called for investing in bitcoin and gold: “IF US Debt to GDP ratio 60% world sound. Today US Debt to GDP 110% and climbing. US bankrupt”, he tweeted.

 The number of ETH addresses has exceeded 70 million

The number of addresses in the Ethereum network has reached 70 million, the Glassnode service draws attention.The figure began to sharply grow in November 2017 before the coin set a price record of $1,300. Since that time, the cost of ETH was mostly falling and today it is $171. Despite this, the number of addresses has increased 8.2 times since November 2017. The number of active addresses in March was about 230 thousand - the figure correlates with the price of ethereum. The maximum at the level of 715 thousand was set in January 2018, when the cryptocurrency price reached a historical record.

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 China has published a new cryptocurrency rating

Bitcoin is only ranked 14th in the rating. BTC has lost three more positions, giving way to Cosmos (ATOM), Stellar (XLM) and Dash. TOP 3 remains the same since the February ranking: EOS is in the first place, followed by TRON and Ethereum. Lisk, IOST, NULS, Qtum, NEO, XLM and Dash are in top ten. This is already the seventeenth evaluation made by the China-based Ministry of Industry and Information Technology (CCID). Projects are evaluated on three parameters: basic technology, applicability and creativity.

 Binance exchange launches mobile bitcoin options

Binance, one of the largest cryptocurrency exchange services, announced launching bitcoin options. The function is only available in the latest version of the exchange’s mobile app. At the moment, users can trade bitcoin options paired with USDT - in the future, the platform plans to expand the list of instruments. Binance chose the American version of options in which the deal can be closed before the contract expiry date. The exchange’s statement states that their options provide “a shorter time frame compared to traditional options”, ranging from 10 minutes to 1 day.

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Dear visitors, I would like to tell you that Bestchange is the best exchange for exchanging your electronic currencies, it accepts most of the current payment processors such as Paypal, Bitcoin, Payeer, Perfect Money ETC. And it also has an affiliate system that can help you earn money. The first thing you need to know is what the site is for, as I already mentioned is an Exchange that allows you to exchange Electronic Money between processors such as Paypal, Bitcoin, Payeer, Perfect Money ETC. 

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 Again, miners sell more BTC than they mine

After the halving of the block reward, miners have to sell more coins than they can earn, according to a report by Arcane Research. The company uses the Miner’s Rolling Inventory (MRI) metric, which tracks the number of coins generated and moved by miners. If the figure is above 100%, then they sell more BTC than they mine. In March, the MRI reached 105%, then began to decline and fell below 100% on the verge of halving. Immediately after the event, the indicator began to grow and now has again reached the level of 105%. According to Arcane Research analysts, this indicates a change in the mood of miners after halving.

 Commission fees at ETH have surpassed BTC

Ethereum network activity continues to grow: last Saturday, daily transaction fees exceeded Bitcoin levels. According to Glassnode, for the ETH network, the figure was $498 thousand against $ 308 thousand for BTC. Analysts attribute this to the growing demand for transfers in Ethereum. In addition, recently the capitalization of stablecoins has been growing, the bulk of which operates on the ETH blockchain. Earlier, the founder of Mythos Capital, Ryan Sean Adams, noted that there is a direct correlation between commission fees and the price of Ethereum. If the trend continues, then we can expect a growth of cryptocurrency price.

 What altcoins will surge in price along with Bitcoin?

Simon Dedik, co-founder of the Blockfyre analytical portal, shared his opinion. He noted that in 2017, during the rally of Bitcoin price, almost all altcoins went up in price. In the next cycle, this situation will not happen again, and only the most important altcoins for the crypto industry will surge in price. These, according to the analyst, include Ethereum, Litecoin and XRP. Not all representatives of the crypto sphere adhere to this opinion. So, TV presenter Max Kaiser said that altcoins can not compete with the first cryptocurrency in the future. A similar position was expressed by the CEO of Morgan Creek Digital Anthony Pompliano: in his opinion, all altcoins will become useless and disappear from the market.

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 Survey: 36% of large institutions invested in Bitcoin

Fidelity Investments surveyed 774 institutional investors from Europe and the USA - it turned out that 36% of them had purchased Bitcoin and other cryptocurrencies. These include hedge funds, financial managers, pension funds and other market participants. At the same time, the share of such investors increased from 22% to 27% over the year in the USA, while in Europe the figure is even higher - 45%. Tom Jessop, CEO of Fidelity Investments, explained that this is due to more relaxed European legislation and the prevalence of negative rates. “These results confirm a trend we are seeing in the market towards greater interest in and acceptance of digital assets as a new investable asset class,” he concluded.

 80% of ETH holders are in positive territory

80% of Ethereum owners bought cryptocurrency at a price lower than the current one, according to Glassnode. Over the past two years, the indicator was at such a high level only three times. At the same time, the last time the price of ETH was $700, now the asset is trading at around $245. At the end of March, with the price dropping to $108, the share of investors in profit fell to 18%, a record low since 2016. The historical maximum price of Ethereum was set in January 2018 at around $1,430 - since then, the cryptocurrency has fallen in price by 83%. Glassnode previously noted that more than 77% of ETH has not moved over the past six months.

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 Buterin: the growth of the bitcoin price is not related to halving

The co-founder of Ethereum Vitalik Buterin stated that the theory that the growth of the BTC exchange rate was related to halving did not work. The developer attached a chart of the S2F model according to which bitcoin periodically increased its cost together with halving the reward for mining a block. "The last $20k peak was near the halfway point between the 2016 and 2020 halvings", he pointed out. In the comments Buterin was told that the model predicted the quantitative growth of the bitcoin price, but it did not presume that the maximum will coincide exactly with the event of halving. The developer agreed that the absence of the direct correlation between halving and the growth of the bitcoin price did not disprove the theory, but said that he still did not agree with it.

 The price of Ethereum can rise up to $7,500

If the BTC exchange rate increases up to $50,000, Chris Burniske, a partner in the Placeholder venture capital firm, thinks. "If $BTC goes > $50,000 in the next cycle, and $ETHBTC returns to its former ATH, then expect to see $ETH > $7,500", he wrote in his Twitter account. According to him, the price of bitcoin will rise up to $50,000, even if the volatility of the new rally will be twice as less as the previous indices. In this case, the capitalization of the first cryptocurrency will rise above $1 trillion. It will allow bitcoin to strengthen its "macro equity" status, while ETH will be able to become a mainstream instrument, the expert thinks.

 The price of bitcoin will go down following the stock market

Analyst Satoshi Flipper thinks. If the US shares continue the correction, the BTC price will fall to $7,300 before the middle of July, he writes. Satoshi Flipper points out that, by going below $9,400, the exchange rate has broken through the trend line that has been acting as a support one since May. The S&P 500 index fell down 2.79% this morning — the crypto market followed it as well, the trader points out. He adds that he has been holding the short position regarding bitcoin since the weekend.

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 Bitcoin should cost $18,000 today

Analyst PlanB writes. According to his estimates, the correlation between the S&P 500 index and bitcoin is 95% and the cryptocurrency is underestimated today. With the current index, BTC should cost $18,000, the analyst points out. PlanB also notes that the charts of both equities fit into the S2F model — according to the forecast, the next peak of bitcoin will occur at the level of $288,000 and S&P 500 will rise up to $4,300 in this case.

 The BTC price will continue to fall

Popular trader CryptoCapo posted a series of tweets where he compared the current bitcoin chart with historical data. The detected "fractals" presuppose that the bitcoin exchange rate will continue to go down. According to the analyst, the price is ready to break through the support trend line. If the rate goes below $9,200, the next goal will be the level of $8,550, the breakthrough of which will definitely confirm the bear trend. CryptoCapo earlier posted the Wyckoff method estimate according to which the current accumulation would trigger the price movement to the point of $1,600.

 Bitcoin will go down to $6,900 towards autumn

Crypto analyst Dave the Wave points out. According to his conclusions, the bitcoin exchange rate should drop down to the lower side of the global triangle where there is also the Fibonacci correction level of 0.382. The analyst points out that indicators confirm the bearish attitude and "the last but one chance" to buy at a low price will be near the level of $6,900.

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 Jim Rogers: bitcoin will drop down to zero

Renowned American investor and Chairman of Rogers Holdings Jim Rogers stated that bitcoin continued to be a bubble and at one point in the future its price would plummet to zero. He pointed out that cryptocurrencies could not exist because they were not controlled by authorities. "But their governments have something that crypto people don't have. That is guns. The reason why I think cryptocurrency will be gone eventually is that it is not based on the armed force of governments' power.", Rogers worded his point of view. He added that money was turning into a digital form, but it continued to be controlled by regulators unlike cryptocurrencies that would not be able to become legal tender.

 Max Keiser: the BTC price will grow to $400,000 when dollar collapses

Bitcoin investor Max Keiser confirmed his forecast about the growth of the first cryptocurrency exchange rate up to $400,000 and specified that specific dates would depend on the collapse of the US dollar. According to Keiser, the interest payment on the USA's national debt comprised the main item of expense for the government. "The debt is big. But the interest on that debt is now bigger than America’s number-one budget item, the military’s 1.6 trillion spend. When the interest on the debt gets close to 100% of GDP then America will officially be a failed state. This looks like it will be the case within 5 years — as short interest rates snap back to historic levels of 5%, not the current 0.5%", the trader said. He added that he had been waiting for BTC to grow up to $100,000 since 2011, but had recently increased his forecast to $400,000. The increase will start with the collapse of US dollar, Keiser thinks.

 Anthony Pompliano encouraged pension funds to buy bitcoin

Co-founder of Morgan Creek Capital Management Anthony Pompliano addressed pension funds encouraging them to invest money in the cryptocurrency. Last week he sent a letter to investors where he called bitcoin the most effective equity in the nearest years to come. According to the businessman, pension funds should invest at least 1% of the capital in BTC — the optimal level would be 5%. "And you want to know where the greatest innovation is occurring at the moment? Bitcoin. There is a group of individuals who have built a $150+ billion asset with the goal of assuming the position of the next global reserve currency. If that happens, it will be the best performing asset for the next 20+ years. But even if that doesn’t happen, things will be okay", Pompliano pointed out.

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 Messari: bitcoin will go up to $50,000 if institutional investors come to the market

Messari analyst Ryan Watkins estimated how much bitcoin would cost if institutional investors invested 1% of their funds in it. It turned out that BTC would rise up to $50,000 and the capitalization of the crypto market would exceed $1 trillion. According to the expert's assessment, investments from institutional investors are negligibly small at the moment. They are frightened off by uncertainty, hacking and fraud risks as well as by prejudice. "Bitcoin may not need institutions to succeed. But reality is, success as a store of value is measured in price. And if Bitcoin is to become a globally adopted non-sovereign store of value, it will need to convince institutional investors to transfer wealth into the asset", Watkins worded his opinion.

 OKEx CEO: new aid package from US authorities will help bitcoin

OKEx exchange CEO Jay Hao said that the second aid package for US citizens due to the coronavirus pandemic could push the bitcoin price up. In March, the government allocated $2.2 trillion for these purposes and after that the price of bitcoin rose from $6,580 to $10,400. Now the US authorities plan to give away another $1 trillion, Bloomberg quotes Hao. He specifies that it is difficult for institutional investors to choose where to invest their money since the stock market is artificially inflated and stocks look like a too risky asset right now. "Institutions will be looking for the best rate of return over time and Bitcoin has consistently proven itself here just as Paul Tudor Jones called it the fastest horse. Again, of course, institutional investors will spread their risk across risk and haven assets", Hao clarifies.

 Miners can trigger a collapse of the BTC rate

Analyst Cole Garner noted that miners had started to massively take coins away from pools. Yesterday the CQ.Live service registered the second largest outflow of miners' funds since the BTC price had reached $10,000. After that the rate fell down to $9,000 last time. Garner supposed that it could trigger sales on the market this time as well. CryptoQuant CEO Ki Young agrees with him. In his opinion, the outflow of coins by miners will result in a short-term fall of the BTC price in the middle of July.

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 Bitcoin brought 70 times more profit than indexes

Buy Shares experts compared the profitability of bitcoin and five leading world indexes. It turns out that over the past five years, BTC has generated an average of 70 times higher profit than indexes. During this period, the value of cryptocurrency increased by 3,400%. The NASDAQ index, which includes shares of all companies trading on the exchange of the same name, brought 96% in profit. The S&P 500 index, which includes 505 companies with the largest capitalization listed on US exchanges, grew by 46%. The Dow Jones industrial index showed a similar increase - by 42%. The lowest result was shown by the index of the British stock exchange FTSE 100, losing 7% in price.

 Bitcoin whale transfers almost $1 billion for a 50 cents fee

A transaction in the amount of 101.8 thousand BTC (about $920 million) took place in the bitcoin blockchain. On June 27, an unknown person sent coins to an anonymous wallet. Then he transferred 5,000 BTC to one address, and the remaining 96,800 BTC to another. At the same time, the commission for each transfer amounted to about 50 cents - the whale paid $1.5 for all operations. The transaction was recorded by the Twitter bot BtcBlockBot.

 Twitter approval of bitcoin at an annual low

The number of posts with the approval of bitcoin on Twitter fell to the lowest for this year - for a month and a half, the indicator slipped by half. According to Santiment, the day after the halving, the positive mention indicator set a maximum of 12 months at 781 mark. Now, this indicator is 327. At the same time, the total number of Bitcoin posts has also decreased, according to Bitinfocharts. On May 11, on the day of the halving, the number of references reached 82,838, and today it has dropped to 32,380. In Google, searches for bitcoin dropped by three times less after the halving.

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 CBDC will determine the future of money and cryptocurrencies

According to Guy Sheffield, Visa’s head of crypto. In the next ten years, the development of central bank digital currencies will affect the confidentiality, monetary sovereignty of states, geopolitics and the adoption of bitcoin. “I’d argue that central bank digital currency (CBDC) is one of the most important trends for the future of money and payments over the next decade. Regardless of anyone’s personal views of whether it’s good or bad, the reality is that global interest in it is not going away,” Sheffield tweeted. He noted that earlier single articles from central banks were issued on this topic, and now there is a non-stop flow of information from experts, scientists and organizations.

 European companies favor Ethereum

European Blockchain startups most often choose the Ethereum platform, according to research by LeadBlock Partners. 27% of the projects are based on Ethereum, followed by Hyperledger (20%), Corda (16%) and Bitcoin (8%). Analysts note that the choice of blockchain depends on the area in which the company operates. Ethereum is preferred by startups from the real estate, cultural and art sectors since it is convenient to tokenize such assets on the platform. Hyperledger is popular in the healthcare, food and agricultural sectors, and Corda in the financial business.

 The Block: Bitcoin popularity is far from peak

The massive spreading of bitcoin will come soon, according to the Block’s analysts. Currently, the popularity of the first cryptocurrency is far from the peak levels of 2017, when BTC was worth $20’000. Weekly trading volumes then amounted to $17 billion, and in 2020 their average level did not exceed $2.5 billion. In Google, searches for bitcoin dropped by 8 compared with the end of 2017, and the bitcoin page on Wikipedia was studied 30 times less. Cryptocurrency exchange accounts on Twitter gain subscribers 47 times slower: in January 2018, they received 254,000 new users, and in 2020, an average of 5,340 per month.

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 Bitcoin may get cheaper following S&P 500

The first cryprocurrency increases its connection with the S&P 500 index: according to Skew, the correlation level of the two assets have achieved the record level of 77%. At the same time, the index is predicted to fall. Last week the Citigroup financial corporation informed its investors that it anticipates the asset to go down 10% to 2,900 points. At the moment S&P 500 is traded at 3,169 points, yesterday it added 0,78% to its price. “Another wave of Covid-19 cases that triggers new shutdowns or a slower economic recovery would be challenging”, the company’s analysts noticed.

 Altcoins are ready to go up

Renown trader Peter Brandt thinks. He published the ETH/BTC chart where he showed the upward breakthrough. According to the trader, the pair will get up by 24%: from 0,02637 to 0,03276. Brandt noticed that Ethereum was an indicator for the altcoin market so the rest of cryptocurrencies are up for a rise as well. The capitalization of the altcoin market is growing: it has doubled in the last four months and reached $102,9 bn. At the same time, the share of bitcoin in the general capitalization of cryptocurrencies has fallen from 67% to 64% in two months.

 BTC may go to $9,800

Crypto analyst filbfilb published the short-term prognosis of the bitcoin price. According to the trader, the rate broke through the symmetrical triangle by reaching the level of $9,400. It paves the way to the point of $9,800 where the strong resistance cluster occurs. Filbfilb supposes that the price will fall back to $9,300 at first, but then it will get beyond the level of $9,500. Now the mid-market rate of BTC is $9,383, the coin has become more expensive by 0,97% in the last day.

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 Transfer funds from bitcoin to altcoins is risky

Thinks Jason Williams, a partner at Morgan Creek Digital. According to him, many investors are selling bitcoin right now to buy altcoins and stablecoins. It is a very risky thing to do. "I am sure, if real honest historical analysis was done, it would show holding is a superior strategy", the analyst wrote. He compared this to indices that are ahead of separate companies' shares regarding profitability. Binance head Changpeng Zhao thinks likewise: earlier he claimed that altcoins were hardly to reach their maximum this year.

 Charles Edwards: bitcoin is in for a new rally

Renown analyst Charles Edwards said that bitcoin was ready for a new rally. The Hash Ribbons indicator developed by Edwards confirmed the signal for buying. It is just the twelfth signal the indicator has given through the entire history of bitcoin — the earlier eleven ones were for a rise. The last Hash Ribbons signal was on the 25th of April and after it the price of BTC went up by 34%. The indicator is based on the hashrate and complexity measures. According to the author, the hashrate of the bitcoin network falls down earlier than the regular change in complexity occurs. Periods like that are favorable for entering the market, Edwards thinks.

 The bitcoin billionaire named a "trillion" reasons to buy BTC

Cameron Winklevoss, one of the twin brothers who are bitcoin billionaires, named a "trillion" reasons to buy cryptocurrency. He posted on Twitter the news where the speaker of the US House of Representatives Nancy Pelosi urged the authorities to approve the law regarding the additional support for the population during the coronavirus pandemic. She asked to assign several trillion dollars for that purpose. "We need $1 trillion for state and local. We need another $1 trillion for unemployment insurance and direct payments. Something like that, but probably not as much, for the testing, tracing, treatment", Pelosi said. "A trillion more reasons to own bitcoin", the businessman commented on this news.

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 Opinion: the BTC price will drop down to $7,000 before a new rally

Bloсkroots analyst and founder Josh Rager thinks that the price of bitcoin is ready to break through its historical maximum of $20,000, but it has to drop down first in order to do that. He studied the chart starting from 2010 and noticed that there had been a powerful fall before each explosive growth. For example, the price formed a bear triangle in 2018, then fell from $6,300 to $3,100 and then rose to $13,800. At the moment, the chart shows a similar formation. According to the analyst, the rate will plummet to $7,000 and then it will rise to the historical maximum towards the end of the year

 The nearest target for bitcoin is $8,700

Analyst filbfilb writes. According to him, the price lost its key support at the level of $9,250 and is now on its way to the round point of $9,000. According to the trader, the nearest target will be $8,700 where the week support and the lower boundary of the side channel are. The analyst points out that the price has been consolidating since the beginning of May within the range of $8,600-10,000. This week the price of the first cryptocurrency has lost more than $200 alongside hacked Twitter accounts of cryptocurrency exchanges and some celebrities. The hackers asked the subscribers to transfer bitcoins to the specified address in order to get twice as big the amount in return.

 The bitcoin price is ready to rise up above $11,000

CredibleCrypto analyst thinks that the BTC rate has completed the accumulation stage and is going to break through the point of $11,000. He compared the current situation to the classic Wyckoff accumulation and came to the conclusion that it was completed. The trader predicts that the nearest targets should be the levels of $9,600, $10,400 and $11,000. He points out that the bitcoin price is near the strong resistance of $10,000 and ready to liquidate the positions of sellers with one strong upward surge.

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 Peter Schiff: bitcoin is a financial pyramid

Euro Pacific Capital broker company president Peter Schiff goes on with his criticism against bitcoin. This time the businessman called BTC a financial pyramid whose participants protect the idea of bitcoin because they are personally interested in its efficiency. "The very nature of Bitcoin requires owners to encourage new buyers to enter the market. Without new buyers coming in, there is no way for existing HODLers to get out. As with any pyramid scheme, success is only possible for those who get in early if lots of others get in late", Schiff wrote in his Twitter account. Earlier he had worded the idea that BTC price would drop down to zero.

 Weak dollar will strengthen the position of bitcoin and gold

DTAP Capital investment fund co-founder Dan Tapiero thinks. The policy of the US Federal Reserve System will weaken dollar in the nearest future, which will supposedly affect bitcoin, gold and stocks. The analyst's position is based on data from the FRS that they plan to weaken their struggle with inflation in order to support commercial activity. Tapiero points out that if the level of inflation exceeds 2%, the dominating role of dollar in the world economy will be undermined. "Dollar consolidating for one month but now on verge of benign selloff that further supports equity, gold and Bitcoin", the analyst worded his opinion.

 The Morgan Creek co-founder urged everyone to move out of dollar

Morgan Creek co-founder Anthony Pompliano thinks that currencies are prone to inflation so it is necessary to move funds to other assets. Central banks regularly print new batches of cash, which will cause an instant spike in inflation at one moment. Pompliano notes that it is especially true for US dollar since the US Federal Reserve System has recently been issuing a large number of new banknotes. "There is a devaluation of currency. The whole secret to building wealth is to get out of cash and get into assets that are denominated in dollars that will continue to go up in value over long periods of time — stocks, real estate, gold, Bitcoin, all this stuff", the expert advised.

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