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Bitcoin Price Prediction: BTC/USD Trades Above $37,400

Bitcoin Price Prediction: BTC/USD Trades Above $37,400

Bitcoin Price Prediction – June 13

The Bitcoin price touches the major resistance level at $37,490 instead of just battling with supports.

BTC/USD Long-term Trend: Bearish (Daily Chart)

Key levels:

Resistance Levels: $43,000, $45,000, $47,000

Support Levels: $30,000, $28,000, $26,000

Bitcoin Price Prediction
BTCUSD – Daily chart

BTC/USD is currently pushing the price above the nearest resistance level. The coin is moving above $37,000 to trade at $37,390 at the time of writing. More so, the Bitcoin price has gained over 5% since the European session as it is using $34,780 support as a jumping-off ground to develop the upside momentum, which is now gaining traction.

Bitcoin Price Prediction: What Could Be the Next Move?

The return above $37,000 could set the framework for gains towards $40,000. Meanwhile, the technical indicator shows that the bulls are ready for action especially when the up-trending Relative Strength Index (14) is considered. Any further bullish movement above the 9-day and 21-day moving averages could pave the way for gains above $38,500. Other resistance levels are located at $43,000, $45,000, and $47,000.

Looking at the downside, if the Bitcoin price falls back below the $35,000 level and move to cross below the moving averages, the bears may wrestle out the control over the situation very quickly and the next important support may come at $33,000, which could be followed by $30,000, $28,000, and $26,000 support levels.

BTC/USD Medium – Term Trend: Bullish (4H Chart)

Looking at the 4-hour chart, the Bitcoin price is currently trading around $38,796 above the 9-day and 21-day moving averages after a reversal from $34,840. Meanwhile, the 4-hour chart shows that the bullish supply is coming up in the market while the bears are also trying to bring the price down.

BTCUSD – 4 Hour Chart

Furthermore, if the buyers could strengthen and energize the market more, they can further push the price to a $40,000 resistance level. Therefore, breaking the mentioned resistance may likely allow the bulls to test the $41,000 and above. In other words, the Relative Strength Index (14) is currently moving towards the overbought region, but when it turns down; the bears could step back into the market and bring the price to the support level of $36,000 and below.

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Zcash Price Prediction for June 2021

Zcash Price Prediction for June 2021

While ZEC’s privacy features give it a unique advantage, it remains to be seen whether the token can recover from its current bearish trend

With a market cap of around $1.5 billion, Zcash (ZEC) is ranked in the mid-fifties on CoinMarketCap. As the crypto market grows fonder of altcoins, Zcash has the potential to explode in popularity this summer due to its privacy features.

ZEC brings to users the benefits of decentralisation and privacy, two of the most important cryptographic principles, and so in this article, we will analyse the possibility of Zcash mounting a comeback from May’s bearish climate on the back of its ever-strengthening fundamentals. We will explore ZEC’s current price, the factors that could affect its price in June, and price predictions for the end of the month.

Zcash Price Analysis

ZEC entered the market at over $5000 in 2016 but the token’s price began to drop within weeks of the launch. By December 2016, the coin dramatically plunged to $48.90 with experts citing low supply and the slow start of mining rewards as the reason for ZEC’s high price at its launch. The coin recovered, trading at $520.67 by the end of 2017. However, before Zcash could attempt to regain lost ground, the token was hit by the 2018/19 bear market, and its value fluctuated between $30 and $70.


Source: CoinMarketCap

This price volatility has become a defining characteristic of how Zcash is viewed in the crypto community. While booms in the crypto market, blockchain upgrades, and cooperation agreements have pushed ZEC’s value to over $300 multiple times, the token has struggled to stay above this psychological price level. The same was seen last year when Zcash made a significant improvement in its price in February but reacted bearishly to the crypto market crisis in March, falling below $25.

Despite this, the coin has continued to recover since the second half of 2020 and is changing hands just shy of $150 at the time of writing and has lost over 19% of its value in the last 24 hours. However, experts remain hopeful for the future of Zcash as its privacy-focused approach is expected to be in greater demand in the future.

The coin’s historical price moves show that it reacts exceedingly well to crypto booms, and the increasing interest in cryptocurrencies owing to the pandemic is expected to help ZEC recover quicker than before.

Zcash: Price Factors for June

There are several factors that could drive the price of Zcash in the month of June. Here, we will explore a few of these.

The Value of Privacy

As the United States Treasury makes it mandatory for all crypto transactions over the value of $10000 to be reported, the demand for altcoins that offer anonymity like Zcash is predicted to increase. Its privacy features might also be beneficial to users looking to protect their identity in light of regulatory agencies’ crackdown on crypto wallets in many countries. Crypto titan Barry Silbert also weighed in on the matter recently, saying that he believes privacy features are bound to become a huge draw for investors in the near future.

Crypto Market Recovery

The level of interest in cryptocurrencies has only increased since the pandemic with more institutional investors entering the crypto market. While Bitcoin and other major currencies did enter a period of stagnation since the May 19th crash, it is safe to say that recovery from the downward turn has already begun, making it an attractive period for investors. After President of El Salvador, Nayib Bukele, announced earlier this week that Bitcoin is now legal tender in the country of El Salvador, the currency rose by over 10% within 24 hours, creating a ripple effect in the market. Altcoins like Zcash react strongly to the rest of the crypto market, meaning that the price rise gives the possibility of an upcoming bull run in the crypto market.

Zcash Price Forecast

The volatility in price points towards a fierce battle between bulls and bears in the ZEC market, making it an exciting period for investors. If the price consolidates above the $180 support level, ZEC could hit $200 in June and aim for somewhere between $300 and $350 by the end of the year, marking a 50% increase from its current price range.


Source: WalletInvestor

An increase in investor interest towards altcoins and the incentives offered by Zcash’s privacy-focused features means that ZEC could trade between $200 and $350 in the coming months. Analysts at WalletInvestor predict that Zcash might reach $377.832 by the end of the year, possibly reaching the $300 price level in June itself. DigitalCoinPrice also sees an incoming bull run and speculates that ZEC will trade at an average of $495.99 for the rest of the year and hit the $1000 mark by 2021.

In the coming few years, Zcash is expected to forge partnerships to strengthen its blockchain infrastructure and directly compete with Bitcoin, citing better reliability and privacy. Its ability to retain user anonymity is expected to increase the number of users and investors as crypto regulatory laws are strengthened. The token is expected to be part of the top 30 cryptocurrencies by 2025. The upcoming bull run with optimistic out-of-market signs makes Zcash our cryptocurrency to look out for, this June 2021.

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Bitcoin (BTC) Price Prediction: BTC/USD Falls as Bitcoin Revisits $30,000 Low

Bitcoin (BTC) Price Prediction: BTC/USD Falls as Bitcoin Revisits $30,000 Low

Bitcoin (BTC) Price Prediction – June 12, 2021

About 48 hours ago, Bitcoin bulls failed to sustain above the $38,000 high as Bitcoin revisits $30,000 low. The breaking of the $39,000 resistance is necessary for Bitcoin to rally above $40,000. Once buyers reclaim the $40,000 support, the bullish momentum will extend to $46,000 high.BTC/USD price lacks buyers at higher price levels as the crypto find it difficult to resume upside momentum.

Resistance Levels: $45,000, $46,000, $47,000
Support Levels: $35,000, $34,000, $33,000

BTC/USD – Daily Chart

Following the bulls’ failure to break the $38,000 resistance, the BTC price was fluctuating below the resistance level for three days. Thereafter, Bitcoin slumped above the $35,000 support. On the upside, if the bulls break the $38,000 and $39,000 resistance, BTC’s price will rally above $40,000 high. Incidentally, if the $40,000 resistance is cleared, a rally to the previous highs is possible. Since May 19, Bitcoin bulls have been defending the $35,000 support as the king coin remained stable above the critical support at $34,000. However, if the bears break below the critical support, Bitcoin will fall to the $30,000 support level.

El Salvador’s Bitcoin Adoption May Risk IMF Negotiations: JP Morgan – As Bitcoin Revisits $30,000 Low

El Salvador has adopted Bitcoin (BTC) as a legal currency within the country. JP Morgan has indicated that El Salvador’s decision to adopt Bitcoin as legal tender is of little economic benefit. Earlier on El Salvador’s parliament passed a historic bill to recognize Bitcoin as a legal tender. The “Bitcoin Law” bill was accepted by a majority of 62 out of 84 votes. The JPMorgan client note stated: “As with the dollarization in the early-2000s, this move does not seem motivated by stability concerns, but rather is growth-oriented […] But it is difficult to see any tangible economic benefits associated with adopting Bitcoin as the second form of legal tender, and it may imperil negotiations with the IMF.” Presently, El Salvador is in talks with the International Monetary Fund for a $1 billion funding program. The country is facing a potential $3.2 billion budget deficit in 2021.

BTC/USD – Daily Chart

Presently, Bitcoin is hovering below and above the $35,000 support. A rebound above the current support will catapult the crypto to retest the $39,000 resistance zone. Meanwhile, on April 25 downtrend, a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that Bitcoin will fall to level 2.0 Fibonacci extension. From the price action, Bitcoin has retested the Fibonacci extension it is hovering above the $35,000 support.

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Robinhood Penalty, Bitcoin Sell-Off, ETH Plunge, G7 Crypto: Editor’s Pick

Robinhood Penalty, Bitcoin Sell-Off, ETH Plunge, G7 Crypto: Editor’s Pick

It’s that time of the week when we take a look back at the biggest news stories from the worlds of Forex, Fintech and Crypto, in our best of the week segment.

Ethereum Balance on Cryptocurrency Exchanges Is Plunging

The trading week started with news that Ethereum whales are moving their ETH assets from leading cryptocurrency exchanges to digital wallets. According to the latest data published by crypto analytics platform, Glassnode, exchanges are now holding the lowest amount of Ethereum since June 2019.

Cryptocurrency trading platforms hold less than 13 million Ethereum, which is a sharp drop from approximately 19 million in July 2020. Ethereum supply on digital exchange has been in a downtrend since the start of 2021.

Read more on the Ethereum Balance Plunge here.

Is the Crypto Crash Over or Just Beginning?

In an intriguing analysis, Finance Magnates tackled the pressing question of whether last month’s crypto crash is a temporary construct or a sign of a deeper malaise.

With a look at the role of DeFi and Ethereum, as well seasonal influences, crypto’s immediate future is discussed in full

Read more on the crypto crash here.

US SEC Publishes Plan to Distribute $65 Million Robinhood Penalty

As Finance Magnates reported this week, the US Securities and Exchange Commission (SEC) has published its plan to distribute $65 million in civil penalty collected from the brokerage firm, Robinhood for non-disclosure of the practice of ‘payment for order flow’.

Per last week’s proposal, the financial market regulator has proposed a six-point evaluation process to distribute the collected penalties among Robinhood traders who were harmed.

Read more on Robinhood’s Penalty distribution plans here.

Bitcoin Is like the Gold Rush of 1848, Says Ken Moelis

During an interview with Bloomberg, Ken Moelis, an American billionaire and investment banker, said that the recent craze in Bitcoin is similar to the gold rush of 1848.

Commenting about the future of the cryptocurrency market, Moelis mentioned that there is a growing interest in Bitcoin and other digital currencies.

Read what Ken Moelis has to say on Bitcoin here.

Bitcoin Jump Liquidates $400 Million Worth of Short Crypto Positions

As Finance Magnates reported on Thursday, the latest jump in the price of BTC which saw the granddaddy of digital currencies rise 12% in 24 hours, has triggered massive liquidations in the crypto market.

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Within just 24 hours, more than $400 million worth of short crypto positions were liquidated, including nearly $320 million worth of short Bitcoin positions along with $70 million worth of short Ethereum positions.

Read more on the crypto liquidations here.

Australians Lost $328 Million to Investment Scams in 2020

According to the latest report published by the Australian Competition and Consumer Commission (ACCC), a total of 444,164 scams were reported to different government agencies in 2020. Australian citizens lost more than $850 million to different scams during last year.

The report mentioned that the citizens lost a total of $328 million to investment scams. Nearly $131 million were lost to romance scams and the citizens lost approximately $128 million to business email frauds in 2020.

ACCC highlighted a surge of 23% in the total losses reported to Scamwatch in 2020 compared to 2019.

Read more on the Australian investment scams here.

US President Plans to Discuss Cryptocurrency Issues at G-7

Joe Biden, the current President of the United States, has remained quiet about Bitcoin and other cryptocurrency assets for the last few months. But, the latest statement from Biden’s national security adviser, Jake Sullivan, indicates that the US President is planning to raise the issues related to the role of cryptocurrencies in ransomware at the G-7.

During the recent press briefing at the White House, Sullivan said: “It is important to deal with the cryptocurrency challenge which lies at the core of how these ransomware attacks are carried out. Ransomware is a national security priority.”

Read more on the Biden G-7 crypto plans here.

Ultimate Fintech Awards 2021: Winners Announcement!

For almost a decade, the Ultimate Fintech team has been connecting trading and fintech professionals. Now, customers, partners and traders have decided the best brokers of 2021 through a public voting system.

Awards fell into various categories of Global Awards, Regional Awards and Country Awards. As the name suggests, global awards determine the winners on a global scale, while regional and country awards go into more specific categories.

Who are the Ultimate Fintech Award WInners in 2021? Find out here.


Blockchain State of Affairs in Europe: Part Two

Blockchain State of Affairs in Europe: Part Two

This is part two of a three-part series of articles about the state of blockchain/distributed ledger technology (DLT) in Europe. The series covers the blockchain scene in some of the most important European nations. I would like to thank PR firm Wachsman for sharing with me the facts & figures and the commentaries present in this series. Part one may be read here.

European British overseas territory Gibraltar and the country of the Republic of Ireland both have a flourishing blockchain space. Below, we’ll be taking a look at their DLT sectors.


Blockchain State of Affairs in Europe: Part Two

Europort Avenue, Gibraltar. Just across the road from Morrisons (2009). The Gibraltar Stock Exchange is located at Suite 741A
Europort, GSX11 1AA.

To regulate its blockchain sector, Gibraltar has employed a principles-based approach that is built around a core framework of nine principles. The British territory, which has almost complete internal self-governance through a parliament, also offers enough flexibility for DLT projects to succeed. The value-based, industry-informed framework of Gibraltar exemplifies vision and drive functioning autonomously, in which watchdogs and firms work together to deal with sector inefficiencies, fast-track extended processes and enhance citizens’ lives.

Main initiatives of the government of Gibraltar include the introduction of a custom-made blockchain framework in January 2018 and the formation of the New Technologies in Education (NTiE) group. With the framework’s introduction, Gibraltar became the world’s first jurisdiction to introduce such a system. The NTiE group, which signifies a team effort between the government of Gibraltar, the University of Gibraltar and some of the top new technology corporations based in the jurisdiction, is aimed at developing new technology-related education courses about DLT.

Gibraltar Minister for Commerce Hon. Albert Isola M.P. stated, “As the first jurisdiction in the world to introduce a purpose built Distributed-Ledger-Technology (DLT) framework in January 2018, Gibraltar has become home to a wide range of quality blockchain projects that want to be recognised as a licensed provider of DLT. Gibraltar’s supportive business environment and thriving blockchain community are two of the hallmarks of success for our wider economy.”

He added, “As a jurisdiction, we have always prioritised educational development alongside regulatory advances. The launch of the New Technologies in Education (NTiE) group, represents a joint effort between the Gibraltar Government, the University of Gibraltar along with some of the leading new technology companies based in Gibraltar. The NTiE group is geared towards creating new technology-related education courses around blockchain, giving students the chance to broaden their knowledge of the intricate workings of blockchain applications.”

GSX (Gibraltar Stock Exchange) Group Limited founder and managing director Nick Cowan commented, “As a long time advocate for the incorporation of new technologies in financial services, I became convinced of blockchain’s potential to build a new exchange model fit for a new generation of traders and investors. However, the creation of a stable, supportive regulatory environment was always central to this aspiration. The purpose-built legislative framework for businesses that use blockchain or Distributed-Ledger-Technology (DLT) here in Gibraltar has been pivotal in the success of our Gibraltar Blockchain Exchange (GBX), which received its DLT license from the Gibraltar Financial Services Commission (GFSC) in November 2018. Strong engagement between businesses and regulators has helped direct the formation of regulation that provides flexibility for guidelines to evolve alongside the blockchain sector. The DLT regulatory framework continues to provide a road to market for quality projects using DLT.”


The 12.5% corporation tax of Ireland has made it an attractive place for some of the biggest tech corporations in the world, including Apple, Google, Airbnb, LinkedIn and Twitter, who all have their EMEA headquarters located in the country. As a nation with a population of just under 5 million, Ireland has shown that it is able to punch above its weight and seal its place as a worldwide technology powerhouse. The country also hosts some of the most pioneering blockchain startups including multi-award-winning AID:Tech, which revolutionizes how governments, corporates and NGOs provide digital entitlements all over the globe.

The Irish department of finance’s Mai Santamaria said, “Ireland has positioned itself as a leading destination for tech enterprise and research, and has the potential to be a centre of excellence for blockchain and distributed ledger technology. In addition to the growing number of companies using the technology here, the Government has taken several steps to encourage innovation in this sector. Some highlights include, the creation of a €500m Disruptive Technologies Innovation Fund; recently hosting a blockchain hackathon to identify public services business problems that can be solved using blockchain technology; and the founding of BlockchainIreland, a combined effort of Government and Irish-based companies, led by the IDA’s Blockchain Expert Group, to help promote and share information on blockchain in Ireland. Blockchain technologies have the potential to create great economic, social, and technological value and, where possible, Ireland aims to capitalise on this potential.”

The third & final part of this series will review the blockchain scenario in the Netherlands and Switzerland.

Image credit – Paul  (Source)  (CC BY-SA 2.0)


Bitcoin Price Prediction: BTC/USD Price Plummets Below $36,000

Bitcoin Price Prediction: BTC/USD Price Plummets Below $36,000

Bitcoin Price Prediction – June 12

The Bitcoin price is spreading the bearish move to areas just below $35,000 after numerous attempts to hold gains above $37,500.

BTC/USD Long-term Trend: Bearish (Daily Chart)

Key levels:

Resistance Levels: $42,000, $44,000, $46,000

Support Levels: $30,000, $28,000, $26,000

Bitcoin Price Prediction
BTCUSD – Daily Chart

BTC/USD falls below $37,448 as the largest cryptocurrency embarked on a support smashing exercise after failing to hold above $37,000 following a significant breakout in the last few days. Therefore, the bearish control is seen across the market with other major digital assets posting similar losses as they trade below the 9-day and 21-day moving averages.

Bitcoin Price Prediction: Can BTC Price Go Lower?

The Bitcoin price is trading at $38,825 with an intraday loss of 4.05%. The prevailing trend is bearish with expanding volatility. However, the first digital asset is currently consolidating in a bearish flag pattern. Meanwhile, a breakout in this pattern in the direction of the previous trend is expected to continue. In this case, BTC/USD is expected to drop and stay below 9-day and 21-day moving averages and could move towards the critical support levels at $30,000, $28,000, and $26,000.

However, if the Bitcoin price stays above the moving averages; the price could rise to $38,000 vital resistance. Therefore, a further bullish drive could push the price to $42,000, $44,000, and $46,000 resistance levels. The technical indicator Relative Strength Index (14) is moving below 45-level, which shows a possible more bearish momentum may continue to play out.

BTC/USD Medium – Term Trend: Ranging (4H Chart)

At the opening of the market today, the Bitcoin price first went up but dropped slightly within 24 hours, bringing its price from $37,448 to reach around $35,790. Should the price continue to drop below the 9-day and 21-day moving averages, it could reach the nearest support level at $33,000 and below.

BTCUSD – 4 Hour Chart

However, should in case the bulls push the coin above the upper boundary of the channel, the Bitcoin price could reach the potential resistance level of $38,000 and above. Presently, the market may continue to move sideways or experience an uptrend as the Relative Strength Index (14) indicator moves above 45-level.

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