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Bitcoin (BTC.X) price: the bull and the bear case

Milan Kovacevic | 5:37 pm ET, 27 Aug 2019

Are you looking to buy or sell Bitcoin (BTC.X)? Here are some bits of knowledge you show have about Bitcoin before taking any actions.  First, let's look at the reasons to buy Bitcoin (a.k.a., the bull case):

Bull Case

1. Bitcoin was the first coin that is recognized globally--even large, institutional investors are opting to invest in it. In a number of nations, laws have been passed that allow institutional investors to join the crypto market, ultimately leading to a mass adoption of the coin.

2. Unlike other cryptocurrencies, Bitcoin has never faced reliability and scalability issues.

3. Some argue Bitcoin has a healthy valuation, although it is still unclear how to value Bitcoin and other cryptocurrencies. Its cycle of price spikes and dips opens up good opportunities for the traders to jump in.

4. The number of Bitcoins which haven't been mined is very small, i.e., only 20% of the 21 million Bitcoins. Since the number of coins that can be produced is restricted until 2040, there could definitely be another spike in Bitcoin's price.

5. Bitcoin is not under a central authority like gold. Under no circumstances will the value of your Bitcoin investment be wiped out because of a single government's decision.

Now, let's also look at the reasons to sell it (a.k.a., the bear case), in case you already possess some coins:

Bear Case

1. It is still unclear how to value Bitcoin and other cryptocurrencies. For more traditional investors, there is no clear framework how to value the coin, and historical data points are lacking.

2. Crypto volatility is creating permanent damage to the Bitcoin ecosystem. It's hard to envision Bitcoin as a hedge for stocks, because it is much more volatile than most other asset classes.

3. Bitcoin will rally when it demonstrates real value and solves important problems. So far, it hasn't demonstrated this yet. The prospect for its commercial use is declining as the time goes by.

4. The recent movements in Bitcoin price were precipitated by whales (a.k.a., large account holders), either active entities moving large amounts of Bitcoin or passive investors with deep wallets moving back into the market. Whales can move Bitcoin's price up or down significantly, while retail investors exposed to those moves could incur big losses.

Bitcoin (BTC.X) is trading at $10,439.80, up 2.95% from yesterday. Over the last 30 days, BTC.X gained 7.12%.

Disclaimer: The news article above expresses the author’s opinion about the topic of the article. We strongly advise you not to base your investment decisions just on this article alone. If you’d like to become a writer for AskFinny Bites, please send us an email at hi@askfinny.com.


Bitcoin (BTC.X) price: the bull and the bear case

Tatyana Donova | 9:59 pm ET, 27 Jul 2019

Bitcoin (BTC.X) price has been very volatile lately.  Upon reaching its new lows, investors were starting to wonder about the upside opportunity.  Here are the questions we frequently get about Bitcoin as far as investing in it: 

  • Is Bitcoin currently a buy or a sell?
  • Should I sell or hold Bitcoin today, if I purchased it 3 months ago?
  • Is Bitcoin a good buy/investment opportunity?

Here are some bits of knowledge you show have about Bitcoin before you take any transaction actions.  First, let's look at the reasons to buy Bitcoin (a.k.a., the bull case):

1. Bitcoin was the first coin that is recognized globally--even large, institutional investors are opting to invest in it.  In a number of nations, laws have been passed that allow institutional investors to join the crypto market, ultimately leading to a mass adoption of the coin.

2. Unlike other cryptocurrencies, Bitcoin has never faced reliability and scalability issues.

3. Because of the recent price correction, it has a healthy valuation.  Its value in early 2018 was almost 20,000 USD, which fell by over 80% in a few months afterward.   Its cycle of price spikes and dips opens up good opportunities for the traders to jump in.

4. The number of Bitcoins which haven't been mined is very small, i.e., only 20% of the 21 million Bitcoins. Since the number of coins that can be produced is restricted until 2040, there could definitely be another spike in Bitcoin's price.

5. Bitcoin is not under a central authority like gold.  Under no circumstances will the value of your Bitcoin investment be wiped out because of a single government's decision.

After reading those good five reasons to buy Bitcoin, let's also look at the reasons to sell it (a.k.a., the bear case), in case you already possess some coins:

1. The continuous crash of Bitcoin price over a long period of time is becoming a serious concern to investors.  This detracts people from investing in it.

2. Crypto volatility is creating permanent damage to the BTC ecosystem. If we look at the past five price corrections in Bitcoin's history, we can find out that 80% of the retracement was off of the lowest price levels, which indicates that there might be a further fall in its price in the upcoming period.

3. Bitcoin will rally when it demonstrates real value and solves important problems.  So far, it hasn't demonstrated yet.  Its commercial viability is declining as the time goes by.

Lastly, investors who had already bought Bitcoin, are liquidating their investments in order to avoid losing more money.

Bitcoin (BTC.X) is trading at $9,488.61, down -6.36% from yesterday. Over the last 30 days, BTC.X lost -16.4%.

Disclaimer: The news article above expresses the author’s opinion about the topic of the article. We strongly advise you not to base your investment decisions just on this article alone. If you’d like to become a writer for AskFinny Bites, please send us an email at hi@askfinny.com.


Bitcoin (BTC.X) price: the bull and the bear case

Tatyana Donova | 5:46 am ET, 13 Jul 2019

Bitcoin (BTC.X) is trading at $11,345.81 ( -2.80%).   from yesterday.  Bitcoin price has been very volatile lately.  Upon reaching its new lows, investors were starting to wonder about the upside opportunity.  Here are the questions we frequently get about Bitcoin as far as investing in it: 

  • Is Bitcoin currently a buy or a sell?
  • Should I sell or hold Bitcoin today, if I purchased it 3 months ago?
  • Is Bitcoin a good buy/investment opportunity?

Here are some bits of knowledge you show have about Bitcoin before you take any transaction actions.  First, let's look at the reasons to buy Bitcoin (a.k.a., the bull case):

1. Bitcoin was the first coin that is recognized globally--even large, institutional investors are opting to invest in it.  In a number of nations, laws have been passed that allow institutional investors to join the crypto market, ultimately leading to a mass adoption of the coin.

2. Unlike other cryptocurrencies, Bitcoin has never faced reliability and scalability issues.

3. Because of the recent price correction, it has a healthy valuation.  Its value in early 2018 was almost 20,000 USD, which fell by over 80% in a few months afterward.   Its cycle of price spikes and dips opens up good opportunities for the traders to jump in.

4. The number of Bitcoins which haven't been mined is very small, i.e., only 20% of the 21 million Bitcoins. Since the number of coins that can be produced is restricted until 2040, there could definitely be another spike in Bitcoin's price.

5. Bitcoin is not under a central authority like gold.  Under no circumstances will the value of your Bitcoin investment be wiped out because of a single government's decision.

After reading those good five reasons to buy Bitcoin, let's also look at the reasons to sell it (a.k.a., the bear case), in case you already possess some coins:

1. The continuous crash of Bitcoin price over a long period of time is becoming a serious concern to investors.  This detracts people from investing in it.

2. Crypto volatility is creating permanent damage to the BTC ecosystem. If we look at the past five price corrections in Bitcoin's history, we can find out that 80% of the retracement was off of the lowest price levels, which indicates that there might be a further fall in its price in the upcoming period.

3. Bitcoin will rally when it demonstrates real value and solves important problems.  So far, it hasn't demonstrated yet.  Its commercial viability is declining as the time goes by.

Lastly, investors who had already bought Bitcoin, are liquidating their investments in order to avoid losing more money.


Disclaimer: The news article above expresses the author’s opinion about the topic of the article. We strongly advise you not to base your investment decisions just on this article alone. If you’d like to become a writer for AskFinny Bites, please send us an email at hi@askfinny.com.


USD coin (USDC.X) price analysis: the bull and the bear case (February 2019)

Rajlaxmi Sahu | 4:14 am ET, 03 Feb 2019

USD Coin (USDC) is valued at 1.01$ with the latest decline of -0.64%. USD Coin, as its name may imply is actually a stable coin backed by the US dollar. USD Coin is issued and created by Coinbase, one of the largest exchanges with top authority on the market.

When it comes to investing in USD Coin, these are some frequently asked questions: 

  • How should I leverage USD Coin?
  • Is USD Coin a good buy/investment opportunity?

Here are the reasons to buy USD Coin (the bull case):

1. USD Coin is a stable coin that is supported by Coinbase and Circle, enabling redemption from the US dollar to USD Coin and vice versa, which enables an alternative method of transacting your dollars at lower cost and higher speed. 

2. USDC is the only stable coin supported by Coinbase exchange, based on 1:1 ratio between the US dollar and USDC units.  The stability of this crypto lies in the fact that USDC will always reflect the value of USD. 

3. USD Coin represents a more open financial system because this blockchain-based digital dollar is easier to store locally compared to US dollars stored on bank accounts.

4. Quick transfers and receptions of any amount of USDC are possible at any time of the day. Consumers can leverage the Coinbase app for transferring USDC to users around the globe.

Here are the reasons to sell USD Coin (the bear case):

1. USDC is backed by the US dollar, which implies that the crypto will always reflect the value of USD. This implies USDC will decline in value in case of US dollar devaluation. 

2. Investors are not able to profit from investing in USDC as USD Coin is tied to the value of USD.  Moreover, USDC is designed to enable digitization of the fiat currency so its main purpose is to move USD across blockchain from senders to receivers, rather than allowing investors to profit. 

Disclaimer: The news article above expresses the author’s opinion about the topic of the article. We strongly advise you not to base your investment decisions just on this article alone. If you’d like to become a writer for AskFinny Bites, please send us an email at hi@askfinny.com.


Investing in Bitcoin SV: the bull case and the bear case (January 2019)

Rajlaxmi Sahu | 7:55 am ET, 18 Jan 2019

Bitcoin SV (BSV) is Bitcoin meant to be for businesses. It was formed as a result of hard-folk chain split of Bitcoin Cash into Bitcoin ABC and Bitcoin SV on November 15, 2018. Its main goal is the restoration of Satoshi protocol while maintaining its stability and enabling it to scale on a large scale chain, so it becomes a global public ledger for the biggest enterprises of the world.  Currently, it is the 10th largest cryptocurrency in terms of market capitalization. 

Here are some questions we frequently get about Bitcoin SV, when it comes to investing in it: 

  • Is Bitcoin SV currently a buy or a sell?
  • Should I sell or hold Bitcoin SV today?
  • Is Bitcoin SV a good buy/investment opportunity?

Here are the reasons to buy Bitcoin SV (the bull case):

1. The block size of BSV is 128 MB while the original block size of BCH was only 32 MB. One of the prime advantages of the larger block size is it helps to scale the network and also perform more transactions.

2. Another reason why BSV is attractive to investors and developers is its low transaction fees.

3. With BSV, you get a solid rock Bitcoin protocol that is reliable for the global businesses. Developers can build robust applications, projects, or even ventures on BSV.

Here are the reasons to sell Bitcoin SV (the bear case):

1. Bitcoin SV is currently at the risk of falling out of the top 10 cryptocurrencies (based on market capitalization) because of its rivals such as Cardano, IOTA, and Monero are making gains. With the competition increasing the initial pomp might fade off.

2. Major exchanges have given the BCH ticker to Bitcoin Cash ABV, which is a major setback for Bitcoin SV. 

3. The rivalry between BCH and BSV is actually not good for the cryptocurrency industry.  Hashwars, hard forks and Satoshi's legacy are a list of complications which are adding to the headaches of the crypto industry.

Bitcoin SV has lost some value in the past month, but it's still trading about its IPO value. 

Disclaimer: The news article above expresses the author’s opinion about the topic of the article. We strongly advise you not to base your investment decisions just on this article alone. If you’d like to become a writer for AskFinny Bites, please send us an email at hi@askfinny.com.


Litecoin price analysis: the bull and the bear case (January 2019)

Rajlaxmi Sahu | 7:39 pm ET, 30 Jan 2019

Litecoin (LTC.X) is trading at $31.87 after the latest rise by 3%.  Litecoin is the first altcoin and also the first Bitcoin hard fork, driven by the idea of providing faster transaction times compared to Bitcoin (BTC.X).

When it comes to investing in Litecoin, here are some frequently asked questions: 

  • Is Litecoin currently a buy or a sell?
  • Should I sell or hold Litecoin today, if I purchased it 3 months ago?
  • Is Litecoin a good buy/investment opportunity?

Here are the reasons to buy Litecoin (the bull case):

1. Litecoin is widely adopted across numerous retailers and shops, headed by Charlie Lee, a former Google engineer.  Litecoin is also available as a payment method on Facebook's Messenger App through Lite.IM service. 

2. Litecoin is among well-established cryptocurrencies with over seven years on the market, and is still among the top ten cryptocurrencies by market cap. 

3. Compared to Bitcoin, Litecoin offers four times faster transaction speed as well as increased storage efficiency, and is said to be the perfect choice for micro transactions. 

Reasons to sell Litecoin (the bear case):

1. Many investors see Litecoin as a new and slightly improved version of Bitcoin without a clear vision on how Litecoin can stand out in the market of over 2,000 different digital assets.  LTC wasn't programmed from scratch as many of its top crypto peers being forked from Bitcoin's chain. 

2. As Bitcoin now operates with SegWit, Litecoin lost its unique selling point it had previously claimed.

Over the last 30 days, LTC.X lost -1.7%, also recording -82.9% loss YTD.  The 30-day return is 9.73 percentage points higher than the 30-day return of Bitcoin (BTC.X).

Disclaimer: The news article above expresses the author’s opinion about the topic of the article. We strongly advise you not to base your investment decisions just on this article alone. If you’d like to become a writer for AskFinny Bites, please send us an email at hi@askfinny.com.


Bitcoin price: the bull and the bear case

Rajlaxmi Sahu | 5:28 pm ET, 28 Nov 2018

Bitcoin (BTC.X) is trading at $4,330.84, up 15.08% from yesterday.  Bitcoin price has been very volatile lately.  Upon reaching its new lows, investors were starting to wonder about the upside opportunity.  Here are the questions we frequently get about Bitcoin as far as investing in it: 

  • Is Bitcoin currently a buy or a sell?
  • Should I sell or hold Bitcoin today, if I purchased it 3 months ago?
  • Is Bitcoin a good buy/investment opportunity?

Here are some bits of knowledge you show have about Bitcoin before you take any transaction actions.  First, let's look at the reasons to buy Bitcoin (a.k.a., the bull case):

1. Bitcoin was the first coin that is recognized globally--even large, institutional investors are opting to invest in it.  In a number of nations, laws have been passed that allow institutional investors to join the crypto market, ultimately leading to a mass adoption of the coin.

2. Unlike other cryptocurrencies, Bitcoin has never faced reliability and scalability issues.

3. Because of the recent price correction, it has a healthy valuation.  Its value in early 2018 was almost 20,000 USD, which fell by over 80% in a few months afterward.   Its cycle of price spikes and dips opens up good opportunities for the traders to jump in.

4. The number of Bitcoins which haven't been mined is very small, i.e., only 20% of the 21 million Bitcoins. Since the number of coins that can be produced is restricted until 2040, there could definitely be another spike in Bitcoin's price.

5. Bitcoin is not under a central authority like gold.  Under no circumstances will the value of your Bitcoin investment be wiped out because of a single government's decision.

After reading those good five reasons to buy Bitcoin, let's also look at the reasons to sell it (a.k.a., the bear case), in case you already possess some coins:

1. The continuous crash of Bitcoin price over a long period of time is becoming a serious concern to investors.  This detracts people from investing in it.

2. Crypto volatility is creating permanent damage to the BTC ecosystem. If we look at the past five price corrections in Bitcoin's history, we can find out that 80% of the retracement was off of the lowest price levels, which indicates that there might be a further fall in its price in the upcoming period.

3. Bitcoin will rally when it demonstrates real value and solves important problems.  So far, it hasn't demonstrated yet.  Its commercial viability is declining as the time goes by.

Lastly, investors who had already bought Bitcoin, are liquidating their investments in order to avoid losing more money.

Over the last 30 days, BTC.X lost -43.13%.  Where will it go from now?

Disclaimer: The news article above expresses the author’s opinion about the topic of the article. We strongly advise you not to base your investment decisions just on this article alone. If you’d like to become a writer for AskFinny Bites, please send us an email at hi@askfinny.com.


Ethereum and Bitcoin panic selling: what's next?

Rajlaxmi Sahu | 6:54 am ET, 20 Nov 2018

Ethereum (ETH.X) is trading at $134, down -14% from yesterday.   Bitcoin (BTC.X) is trading at $4,481, down -15% from yesterday. On the hourly charts for the ETH/USD and BTC/USD pairs, there is a visible a bearish trend line.  What is the price prediction for those two cryptocurrencies?

Bearish trends for Ethereum and Bitcoin indicate an extended selling pressure in the cryptocurrency market.  Given the active futures market for Bitcoin, analysts have attributed the sell-off to stop orders by professional investors and panic selling among retail investors.

Both Bitcoin and Ethereum are now trading at levels below those from Thanksgiving a year ago.  This concludes the 'gold rush' by retail investors that started roughly around the same time.   

There are some chances that renowned ICO projects might liquidate their ETH holdings.  Many of the decentralized applications leveraging Ethereum are essentially profitless. In order to sustain development costs against the falling market demand, some ICOs will choose to sell their Ether. So, the imbalance between demand and supply for Ethereum and Blockchain is instigating an overall bearish trend in the market.

On the macro front, investors are expressing doubts about the timeline for real-world applications of Ethereum and Blockchain.  Scalability still remains a major challenge for the Ethereum network and is a hindrance to its large-scale adoption. There are other projects that are circumventing Ethereum's shortcomings, but they also face feasibility and commercialization challenges.

What is Ethereum's near-term price forecast?  We think that in the upcoming period, Ethereum's and Bitcoin's price will be a subject to speculative investors' whims.  Here are the major technical indicators:

  • MACDs for both Ethereum and Bitcoin are the bearish zone. MACD (moving average convergence divergence) is a trend-following momentum indicator that shows the relationship between two moving averages of prices.  MACD is calculated by subtracting the 26-day EMA (exponential moving average) from the 12-day EMA;
  • RSI (relative strength indicator) for these two cryptocurrencies is in the 10-15 range, indicating they are both oversold.  RSI compares the magnitude of recent gains and losses over a specified time period to measure speed and change of price movements of a security.

Over the last 30 days, BTC.X lost -30.94%. 

Over the last 30 days, ETH.X lost -35.05%, which is 4.35 percentage points lower than the 30-day return of Bitcoin (BTC.X).

Disclaimer: The news article above expresses the author’s opinion about the topic of the article. We strongly advise you not to base your investment decisions just on this article alone. If you’d like to become a writer for AskFinny Bites, please send us an email at hi@askfinny.com.


Ripple's recovery: price analysis, prediction and news bites

Rajlaxmi Sahu | 12:39 am ET, 18 Nov 2018

Ripple (XRP.X) is now trading at $0.51, up 9% from yesterday.  On the XRP/USD pair's hourly chart, we notice that yesterday's bearish trend line is now breached and the traders' sentiment is now moving towards bullish.  

Ripple is now the second largest cryptocurrency in the world, with a market cap of $19 billion. It has overtaken Ethereum, which was more than twice as large as Ripple in terms of market cap a year ago.  During the most recent selloff, XRP was able to hold a much stronger ground than its peers. 

Ripple is continuing to build on its momentum: it established a banking partnership with CIMB Group. In Southeast Asia, CIMB is the fifth largest banking group. The goal of the partnership is to implement RippleNet software for processing cross-border payments, enhance transaction speed and drive down international payments costs.  CIMB is the first bank in Asia to use Ripple's blockchain technology.  

Investors find XRP interesting because it shows little correlation to Bitcoin.  Amidst all the chaos in the crypto market, XRP fared well because, unlike other competing cryptocurrencies, it is designed as a top-down system, with strong governing principles, and it's less susceptible to government interventions.

What is Ripple's near-term price forecast?  Here are the major technical indicators:

  • MACD has moved back into the bullish zone. MACD (moving average convergence divergence) is a trend-following momentum indicator that shows the relationship between two moving averages of prices.  MACD is calculated by subtracting the 26-day EMA (exponential moving average) from the 12-day EMA;
  • RSI (relative strength indicator) is at 56, which is a neutral position.  RSI compares the magnitude of recent gains and losses over a specified time period to measure speed and change of price movements of a security;
  • A new major support level is forming at $0.47;
  • A new major resistance level is forming at $0.54.

Over the last 30 days, XRP.X gained 2.21%, which is 17.37 percentage points higher than the 30-day return of Bitcoin (BTC.X).

Disclaimer: The news article above expresses the author’s opinion about the topic of the article. We strongly advise you not to base your investment decisions just on this article alone. If you’d like to become a writer for AskFinny Bites, please send us an email at hi@askfinny.com.


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