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Breaking News: Crypto Bulls Rejoice: Congresswoman Confirms Powell’s Imminent Firing

Analyst: Bitcoin (BTC) is King and Trustless, But is it Ready For $6,000?

Dalmas Ngetich
Dalmas Ngetich
1 year ago
2 mins read
Bitcoin, BTC

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  • Bitcoin (BTC) up 4.5 percent
  • Altcoins are horrible, but Bitcoin is the only trustless project

There is only one king in cryptocurrency, and that is Bitcoin (BTC). According to Tone Vays, altcoins—as history shows fail to weather the test of time, sinking expectations with it. Meanwhile, Bitcoin is firm, leading in valuation and dominance proving over and over again that it is a market leader. At spot rates, it is up 4.5 percent from last week’s close.

Bitcoin Price Analysis

Fundamentals

While Bitcoin’s founder is still in the dark, applying all tricks to remain anonymous, his creation is at the center of a revolution. Thanks to his work, we now have blockchain and decentralization that will not only diffuse power but create a safe avenue for adoption companies to secure their data.

Concurrently, end users are confident that their details are secure, accessible and above all, private as needed. Bitcoin, as it is, operate on the premise of complete decentralization and as the first of the kind truly trustless network, the world’s most valuable coin now has the praise of Tone Vays. A supporter of technology, a trader and an analyst, Tone believe that:

 “Bitcoin is different. It’s already: Fast enough, anonymous enough and, cheap enough. Today its greatest asset is the fact that it is the only trustless project that exists in the world & that is what gives it its Decentralization & Financial Valuation. The OTHERS are STATUS QUO.”

4/4 #Bitcoin is different, it's already:
Fast enough
Anonymous enough
Cheap enough
Today its greatest asset is the fact that it is the ONLY Trustless project that exists in the world & that is what give it its Decentralization & Financial Valuation. The OTHERS are STATUS QUO

— Tone Vays (@ToneVays) April 23, 2019

All this is firmed up from the fact that pioneer altcoins are no longer existent while Bitcoin, despite all the headwinds remains stellar, resilient and gaining traction with a straightforward objective of being reliable peer-to-peer electronic cash.

Candlestick Arrangements

Bitcoin BTC

At spot rates, Bitcoin (BTC) is up 4.5 percent in the last week and the second top performer in the top-10 after Binance Coin (BNB). Despite yesterday’s scare, the coin is technically in an uptrend and firm above $5,500, an intermittent resistance level.

As it is, both set of traders—risk-averse and risk-off, should load up on dips. Note that there is a double bar bear reversal pattern correcting the over-extension of Apr-23. Though prices may dip, traders should remain upbeat as long as prices are first of all, trading above $5,000.

For risk-off traders, BTC above Apr-11 highs is bullish. Therefore, unless otherwise, there is a slide below $5,300, there is another opportunity to load up with target at $6,000 in line with our last BTC/USD trade plan.

Technical Indicators

Our anchor bar is Apr-11. As a bearish candlestick, it is at the back of high transactional volumes—19k. For trend continuation, BTC prices must expand above Apr-23 highs with equally high volumes exceeding recent averages of 9k and 19k of Apr-11. If possible, the breakout bar should be wide-ranging, retesting $5,800 signaling trend continuation.

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

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