Bitcoin Price Analysis: Samsung Crypto Support Bullish for BTC

Dalmas Ngetich

1 year ago

2 mins read

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Bitcoin Price ranging inside Jan 22 high low
A mark of adoption, Samsung S10 supports cryptocurrencies
Transactional volumes low and dropping—now stands at 12k on average

Investors, as well as traders, are confident. With supportive fundamentals, BTC demand should increase, lifting prices from spot rates to above $3,800. That will be in line with our previous BTC/USD trade plan. If not and prices drop below $3,500, BTC could sink to $3,200.

Bitcoin Price Analysis

Fundamentals

Following the HTC route, Samsung “leaked” to the world the next generation Galaxy S10 phone. The phone expected to launch on Feb 20 and hit the market in early March will offer support for cryptocurrencies and blockchain. The Samsung Blockchain KeyStore feature allows users to store their coins private keys safely.

New #GalaxyS10 live images leak with ‘Samsung Blockchain KeyStore’

(images via @GregiPfister89) pic.twitter.com/g0FipTooe6

— Ben Geskin (@BenGeskin) January 23, 2019

Samsung’s splash page describes the wallet saying it is “a secure and convenient place for your cryptocurrency.” Review is pending although biometric verification will be part of safety measures in place. Overly we are confident as this will be massive for crypto. However, we’ll have the real picture once users begin running tests on the application’s security—which as we understand is crucial in cryptocurrencies. While nothing is official, we expect the wallet to support Bitcoin—as the dominant coin.

Candlestick Arrangements

Increasing adoption is positive for Bitcoin as well as other blockchain based projects. With growing demand, we expect to see transactional volumes increase. In return, that spike in demand might end up propelling prices from current lows.

Currently, BTC prices are in consolidation, ranging within Jan 22 high low. Even though we are net bullish and anticipating price expansions in line with our trade plan, conservative traders ought to buy BTC once prices rally above $4,500.

On the reverse side, Bitcoin prices would expand if and only if there is confirmation of Jan 22 bull bar. In that case, we shall have a three-bar bull reversal pattern. These are the building blocks that would lift prices above $3,800—triggering our first wave of buys. After that, it is likely that BTC will rally above Dec 2018 highs as risk-averse traders pump prices towards $6,000.

Technical Indicators

As BTC prices range inside Jan 22 high low, accompanying volumes are low. Perhaps fundamental reasons as Bitcoin ETF failure is deflating. Regardless, break above $3,700 or Jan 22 highs should be at the back of abnormal volumes exceeding 18k hinting of underlying demand.

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.