Deutsche Bank analysts see Bitcoin recovering to $28K by December

Analysts from Deutsche Bank forecast Bitcoin (BTC) rebounding to $28,000 by December 2022 as the cryptocurrency market continues to grapple with gloomy times. Bitcoin and the wider cryptocurrency markets have endured a tough six months, with the value of BTC, in particular, enduring its worst quarter in 10 years. Macroeconomic conditions around the world have played a role, with stagnating markets and fears of inflation driving conventional stock markets and their crypto-counterparts down to painful lows. A report from Deutsche Bank analysts Marion Laboure and Galina Pozdnyakova provides an interesting…

Read More

Analysts identify 3 critical flaws that brought DeFi down

The cryptocurrency market has had a rough go this year and the collapse of multiple projects and funds sparked a contagion effect that has affected just about everyone in the space.  The dust has yet to settle, but a steady flow of details is allowing investors to piece together a picture that highlights the systemic risks of decentralized finance and poor risk management. Here’s a look at what several experts are saying about the reasons behind the DeFi crash and their perspectives on what needs to be done for the…

Read More

Celsius (CEL) price gains 600%+, but analysts cite exchange error and a massive short squeeze

On June 14, discussions of Celsius continued to populate media headlines and today’s news involved the platforms CEL token accruing massive gains after what appears to either be an exchange glitch or a short-squeeze. CEL price spiked from $0.18  to $1.55 in one abrupt candle before sinking back to $0.60 within the same 1-hour candle. CEL/USDT 1-day chart. Source: TradingView Currently analysts are on the fence about the reason for the explosive price breakout. Some cite Celsius repaying a portion of its debts as a reason, while other pinpoint a…

Read More

Bitcoin has support at $23K, but analysts warn of a dire drop to $8K as global debt unwinds

Bitcoin’s month-long (BTC) choppy price action came to an end on June 13 after a deep market sell-off pressed the top cryptocurrency under the $29,000 support. The move took place as equities markets also sold-off sharply, hitting their lowest levels of the year.  Data from Cointelegraph Markets Pro and TradingView shows that the Bitcoin sell-off began late in the day on June 12 and escalated into midday on June 13 when BTC hit a low of $22,592. BTC/USDT 1-day chart. Source: TradingView Here’s a look at what several market analysts are saying…

Read More

Bitcoin analysts are watching these BTC price levels as key trendline looms

Bitcoin (BTC) is trading at its lowest since mid-December 2020 on June 13, but the bottom could be anywhere. As the weekend sell-off intensifies, BTC/USD has now broken below its realized price for the first time since March 2020, data from Cointelegraph Markets Pro and TradingView confirms. Bitcoin clings to realized price At around $23,400, realized price — the average price at which each BTC last moved — is acting as the first solid support so far on lower timeframes. Bitcoin realized price vs. BTC/USD chart. Source: Glassnode Previous levels, including…

Read More

DeFi contagion? Analysts warn of ‘Staked Ether’ de-pegging from Ethereum by 50%

The next big crypto crash could be around the corner due to Lido Staked Ether (stETH), a liquid token from the Lido protocol that is supposed to be 100% pegged by Ethereum’s native token, Ether (ETH). Notably, the stETH peg could drop against ETH by 50% in the coming weeks, raising the risk of a “DeFi contagion” as Ethereum moves toward proof-of-stake (PoS), argues popular Bitcoin investor and independent analyst Brad Mills. Over 1M Ether liability risks default In detail, investors deposit ETH in Lido’s smart contracts to participate in The Merge,…

Read More

Ethereum price moves toward $2,000, but analysts say it’s just another ‘relief rally’

On May 30, the cryptocurrency market experienced a much-needed bounce that saw Bitcoin (BTC) climb above $30,900 and Ether (ETH) rally 5.84% to $1,930, but analysts warn that it could be too early to expect a reversal. ETH/USDT 1-day chart. Source: TradingView Here’s a look at what several analysts are saying about the outlook for Ether moving forward and the major support and resistance levels to keep an eye on. A bounce off of major support The May 30 bounce in Ether came as “no surprise” to market analyst and…

Read More

‘Extreme fear’ grips Bitcoin price, but analysts point to signs of a potential reversal

The cryptocurrency market settled into a holding pattern on May 25 after traders opted to sit on the sidelines ahead of the midday Federal Open Market Committee (FOMC) meeting where the Federal Reserve signaled that it intends to continue on its path of raising interest rates. According to data from Alternative.me, the Fear and Greed Index seeing its longest run of extreme fear since the market crash in Mach 2020. Crypto Fear & Greed Index. Source: Alternative Data from Cointelegraph Markets Pro and TradingView shows that the price action for…

Read More