Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Bitcoin Rally Is Back On Track

By Naeem AslamCryptocurrencySep 15, 2021 02:46AM ET
www.investing.com/analysis/bitcoin-rally-is-back-on-track-200601976
Bitcoin Rally Is Back On Track
By Naeem Aslam   |  Sep 15, 2021 02:46AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 

Cathie Wood, CEO and cofounder of Ark Invest, spoke at a conference in New York about the potential of cryptocurrencies. Despite the recent drop in Bitcoin prices, she continues to remain bullish and predicts that the price of Bitcoin will be in the six figure range. She anticipates that Bitcoin prices will more than tenfold and trade nearly $500,000, up from nearly $47,000 now. She did, however, emphasize the importance of institutional investors allocating at least 5% of their portfolios to digital assets. She added that while Bitcoin remains her preferred cryptocurrency, she is also keeping a close eye on Ethereum, which has risen significantly and is transitioning from "proof-of-work to proof-of-stake."

Bitcoin prices have moved back above the 50 and 200-day SMA on the daily time frame which is certainly positive for the price Something which is also immensely positive for the Bitcoin price is the golden cross which is taking today ie the 50-day SMA crossing above the 200-day SMA on the daily time frame. If price continues to trade above these moving averages, we could potentially see a major rally for the Bitcoin price.

BTC/USD Daily Chart
BTC/USD Daily Chart

Bitcoin Rally Is Back On Track
 

Related Articles

Crypto Briefing
Exploring The Biggest DeFi Opportunities On Solana By Crypto Briefing - Sep 26, 2021

The burgeoning Solana ecosystem has a lot to offer DeFi users.Key Takeaways Solana's DeFi ecosystem is growing rapidly. Several high-quality projects are vying to become the...

Gregor Horvat
Bitcoin May Continue Lower By Gregor Horvat - Sep 24, 2021 4

As per Elliott Wave analysis, Bitcoin (BTC/USD) is came nicely down in the 4-hour chart, but it's trading now at key 40k-37k zone for wave C, so in case if we see strong rebound...

Bitcoin Rally Is Back On Track

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email