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Breaking News: SOL Strategies: The First Solana Treasury Company Listed On Nasdaq

Bitcoin (BTC) Is Not a “Joke” or a “Bubble”, $6,000 Easy Target

Dalmas Ngetich
Dalmas Ngetich
1 year ago
2 mins read
technical analysis bitcoin

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  • Bitcoin prices up 25 percent in the last week
  • Investment by high net-worth investors and corporations mean Bitcoin is here to stay.

Wall Street leaders like Fidelity are investing and participating in infrastructure development squashing claims that Bitcoin and Blockchain are just but “Fool’s Day Joke.” Meanwhile, Bitcoin (BTC) is firm above $5,000 and bulls now aim at $6,000.

Bitcoin Price Analysis

Fundamentals

Unlike JP Morgan’s Quorum protocol, Bitcoin is free, permissionless and open source. That means any developer from any part of the world can analyze the network’s modus operandi, suggest improvement proposals and even offer support. By running a full node, he or she will be decentralizing the system making it censorship resistant further making the network more valuable. To quantify how valuable the protocol, at the time of press, Bitcoin market cap stood at $90,913 million, up 25 percent, after an impressive week.

I can’t respect any publication that is still calling Bitcoin a bubble. Even if it was a bubble last year, I’ve never seen a bubble pop twice!

— Ran Neuner (@cryptomanran) April 7, 2019

Despite what Bitcoin represents and the founder’s intention of converting Bitcoin not only as a medium of exchange and a store of value but also as a settlement layer, mainstream media continue to ask hard but often discrediting questions. Just the other day, Motley Fool, a US publication asked a simple question: “Is Bitcoin just a big April Fool joke?” While legit as it is, the author kept on recycling old questions.

Bitcoin is a solution that depends on the blockchain, technology governments as well as big corporations—that Motley Fool diehards have their faith in—are bullish on and heavily invested. So whether it is a bubble, calmed after Fool’s day or lack intrinsic value, the technology is here to stay, and the underpinning technology is already shaking the status quo.

Candlestick Arrangements

Bitcoin

Up 2.9 percent in the last day, Bitcoin (BTC) bulls are firm and unless there is a fundamental event, it will most likely close as a bull. As a result, the path of least resistance is clear, and BTC traders can as well trade in line with all of our previous trade plans, loading up on dips in smaller time frames with the first target at $6,000.

To reiterate our stand, BTC is trading within a bullish breakout pattern, visible in the weekly chart. Therefore, long as bulls maintain prices above $5,000, we expect the trend to continue. Undoubtedly, increasing buy momentum would likely reverse Q4 2018 losses. However, it is after BTC bulls break above $6,000 they will be free allowing unrestricted flow towards $8,000 or higher.

Technical Indicators

Expectedly, participation is dropping after Apr 2 upswings, but prices are aligning themselves along the upper BB meaning buyers are in control. Any break above $6,000 must be with high volumes exceeding 54k of Apr 2.

Chart courtesy of Trading View

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Dalmas Ngetich
Dalmas Ngetich

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.

Read more

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.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

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