• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
No Result
View All Result
Breaking News: Dogecoin Surges 6% After Elon Musk Unveils Crypto Payment Master Plan
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Dogecoin Surges 6% After Elon Musk Unveils Crypto Payment Master Plan
Picture of a man running up bitcoins

Bitcoin To Reclaim $50,000: Legendary Technical Analyst John Bolinger

Best Owie by Best Owie
2 years ago
in BTC
Reading Time: 3 mins read
Advertisement

Technical analyst John Bolinger says that the price of Bitcoin is trying to move up. He pointed out that the first real target is the bottom side of the prior. This means the $48k to $50k range.

This was in response to a tweet from BigCheds on Twitter which posted a candlestick chart showing Bitcoin’s progression.

The account tagged John in a follow-up tweet and the later replied that bitcoin was going up to the $50k range.

Get 30 FREE SPINS at Punt Casino - NO DEPOSIT REQUIRED! Start Playing Now.
No Deposit 40 FREE SPINS at Wild.io on SIGN UP. Wheel of fortune, daily bonuses, 10 BTC in prizes monthly! Start Playing Now!

At the end of the tweet, he says to “play it as it lays.”

Related Reading | Billionaire Tim Draper: Bitcoin Will Reach $250,000 By The End Of 2022

John Bolinger created Bolinger Bands. A technical indicator that is used widely across industry. The tool uses a set of trend lines plotted two standard deviations, positively and negatively, away from a simple moving average (SMA) of a security’s price. While the tool works great with its standard settings, it can also be calibrated to a user’s preferences.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

  “Bottom in place, prices trying to move higher, first real target is the bottom side of the prior range, call it 48 to 50k.”

– Tweet from John Bolinger from his Twitter account @bbands.

Calling the price of Bitcoin is never an exact science. Forecasts are mostly just opinions and educated guesses made by analysts. They do this through analyzing past prices and movements of an asset over a period of time to try to gauge where the asset will go next.

When a reply to the tweet said that they were having a hard time being bullish on Bitcoin when it still hasn’t broken the $43k range, John Bolinger replied, “The market will let us know what to do, the rest is just opinion.”

Bitcoin Price Crash

The price of Bitcoin crashed in response to the Chinese government cracking down on crypto mining in the country. With mining facilities being closed down in Xinjiang, Inner Mongolia, and Qinghai provinces.

Bitcoin price chart from February till date

Bitcoin price surged after the Tesla announcement in February | Source: BTCUSD on TradingView.com

Bitcoin seems to be on a path to correction since then but not without some bumps along the way.

Elon Musk Tesla Comments

Elon Musk had announced that Tesla would stop accepting payment in Bitcoin for cars in May due to environmental concerns related to mining.

As expected, market reaction to this announcement was not favorable as the coin took a downturn. There was a prompt sell-off of coins in reaction to this news, dragging the price down, although not by a large margin.

Tesla’s announcement that they were accepting Bitcoin for cars back in February gave the market a huge boost. Pushing the coin into the $40k range. An uptrend that would continue until Bitcoin hit its all time high.

So it’s no surprise that the announcement that they will not be accepting Bitcoin payments had the opposite effect on the coin.

Related Reading | MicroStrategy Sells $500 Million Notes To Buy Bitcoin

The electric automotive manufacturer has stated that they will resume Bitcoin payments when mining operations transition to more sustainable energy.

Bitcoin Adoption Could Help Get It Back To $50k

Last week, the crypto space was abuzz with the news of El Salvador accepting Bitcoin as a legal tender. The country recorded an exponential increase in the amount of Bitcoin remittances from citizens overseas sending money back home to loved ones.

Following this, other South American countries like the Bahamas has said that they are considering making Bitcoin a legal tender.

Tanzania’s president has also called for the central bank to start developments for crypto adoption.

Faith in the market is going back up as institutional investors are continuing to buy Bitcoin.

A culmination of these events has led to a price increase but not much as the coin is still struggling to break $41k.

Featured image from Blockchain News, chart from TradingView.com
Tags: bitcoinbtcbtcusdBTCUSDTcryptoxbtcusdxbtusd. btcusdt
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Best Owie

Best Owie

Related Posts

Bitcoin Altcoins FTX

Bitcoin Price Resumes Increase as The Bulls Aim Larger Rally To $25K

5 days ago
Bitcoin

Bitcoin Price Just Saw Technical Correction But Key Uptrend Support Intact

6 days ago
bitcoin price bull

Crypto Analyst Says Bitcoin Price Could See Another 30% Rally

1 week ago
Bitcoin

Bitcoin Bulls Keeps Pushing, Why BTC Price Increase Isn’t Over Yet

1 week ago
Bitcoin

Bitcoin Price Bulls In Check, Signs of Fresh Increase above $21.5K

2 weeks ago
bitcoin bear

Bitcoin Might Fall Below $20,000 Before Bull Rally Resumes, Analyst Says

2 weeks ago

Premium Partners

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Metaspins

Metaspins

Review · Visit
Trust Dice

Trust Dice

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
Coinplay

Coinplay

Review · Visit
mBit

mBit

Review · Visit
Vave

Vave

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
Coinplay

Coinplay

Review · Visit

“Gold has been the best performing investment asset over the last two decades”: an interview with Easygold

January 30, 2023

The Crypto Dream Team: Binance Coin (BNB), Polygon (MATIC) and Orbeon Protocol (ORBN)

January 30, 2023

Polygon (MATIC) and Fantom (FTM) Are Losing Favor With Investors As They Turn To Snowfall Protocol (SNW) For 1000x Potential Gains!

January 30, 2023

Tezos (XTZ) shares its 12th protocol upgrade, Twitch Co-Founder’s Gaming NFT Marketplace Expands to Polygon (MATIC) Network while Snowfall Protocol (SNW) Breaks Record Highs

January 30, 2023

Snowfall Protocol Investors Happy After the Release of Snowfall DEX, Twitch Co-Founder’s Solana Gaming Platform Fractal Expands to Polygon, And Majority of Dogecoin Holders Are in Profits Despite the Meme Coin Being Down 87% From Its 2021 ATH

January 30, 2023

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Links

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games

© 2022 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.