Bitcoin (BTC) Prices Exciting but Close Above $4,500 Definitive

Dalmas Ngetich

1 year ago

2 mins read

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Bitcoin prices up after upswings in the Asian session
Traders will start paying maker fees in CoinBase Pro beginning Mar 22
Transaction volumes likely to increase as Bitcoin prices expand

CoinBase Pro decision to charge maker fees and bar stops on market orders could decrease market liquidity as traders shy away. All the same, Bitcoin (BTC) bulls are back and likely to print above $4,500 in days ahead.

Bitcoin Price Analysis

Fundamentals

Prices may be bottoming, but it is fundamental events that are making headlines. Saved by a lenient Japanese court, Mark is a free man and cleansed from customers accusing him of embezzling funds while he was in charge of the now defunct Mt Gox. Then $350 million were lost through hacking, and four years later, the hack of Coincheck forced Japanese authorities to impose stringent rules in a bid to protect end users.

However, it is the decision of CoinBase Pro to restructure and charge maker fees that seem to ruffle investors and account holders. Claiming the decision is aimed at optimizing the platform’s market health, the introduction of the 0.15 percent fees for all trades with average monthly trading volumes of less than 100k will likely draw more heat in an exchange that is reeling from another controversial of acquiring Neutrino and listing of XRP.

Note that, it has been two weeks or so when they last had to deal with a campaign urging users to delete their accounts, and this decision will reignite more talk if not trigger migration to other liquid exchanges as Binance.

Candlestick Arrangements

Spurred by Asian session activity, Bitcoin (BTC) prices are up, trading above $4,000—according to data from BitFinex. After days of accumulation, this is bullish for BTC, and in days ahead we expect prices to edge higher as laid out in our last BTC/USD price analysis.

As mentioned, bulls are technically in charge thanks to bulls of late Dec and early Jan 2019 rejecting lower lows. However, it is once prices rally above $4,500 complete with above average volumes is when conservative traders can ramp up in lower time frames with targets at $5,800 and $6,000.

In line with these events, risk-off traders should fine-tune entries in lower time-frames. After that, they can prepare for price expansion now that today’s bar seems to be realigning and banding with the upper BB.

Technical Indicators

Feb 18 and 24 bars are the foundation of our analysis. The latter is a bear bar with high transaction volumes—36k. Recent price action is within the bar’s high low. It is after when there is a complete reversal of Feb 24 losses complete with high trading volumes—above 36k is when traders can load up as mentioned above.

Dalmas Ngetich

Dalmas, a seasoned crypto reporter, brings a unique perspective to the industry. 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.