Archive July 2020

Bitcoin may rise faster than Tesla shares, analyst says


Unlike Bitcoin, Tesla's (TSLA) stock has been up in recent weeks. The chart below shows the value of the famous auto company's shares since August 2019.

top 10 criptomoedas
Tesla's price action chart last year in the

As mentioned, Bitcoin's earnings, by comparison, were negligible.

While Tesla shares have risen about 800% since June 2019, BTC has fallen 25%. Since the beginning of 2020, the company's shares have risen more than 200%, while Bitcoin has risen only 20%.

According to one of the leading cryptocurrency traders, BTC could soon rise as fast as Tesla. The question: it will be necessary to exceed the $10,500 first.

Exceeding $10,500 will be the main indicator

According to cryptocurrency analyst Cantering Clark, Bitcoin could see an extremely strong recovery after the asset decisively surpasses $10,500.

Check out three altcoins ready to outperform Bitcoin in the short term, according to expert


Three cryptocurrencies can outperform Bitcoin according to analytics firm Santiment.

Thus, for the company several cryptocurrency market metrics indicate that Ethereum (ETH), Basic Attention Token (BAT), and Maker (MKR) seem more optimistic in the short term than Bitcoin (BTC).


Santiment analyzed the three-day averages of each crypto active digit in three metrics.

The first, DAA (Daily Active Addresses) vs. Price Divergence.

This metric compares the price action of an asset with the number of unique addresses that interact with that specific currency daily.

The metric sees the price action that exceeds the DAA as a bearish signal and vice versa.

The second, the Network Value for Transactions (NVT) relationship.

This metric compares the transferred value on a specific network (transaction volume /token circulation) with the net market value.

If the transaction volume is low relative to the market value, an asset is considered overvalued and vice versa.

The third metric, Volume of Feelings, measures the sentiment of market participants on Twitter.

Better than Bitcoin

Thus, Santiment evaluated each asset using a simplified classification system: 0-10, with 0 representing the lowest and 10 the highest.

A 5 implies a lateral consolidation forecast.

Bitcoin scored a 3 on the DAA vs. Price Divergence metric, a 2 on NVT, and a 6.5 on Sentiment Volume, reaching an average rating of 3.8, or "slightly bearish."

Ethereum obtained a 5 in the DAA vs. Price divergence, a 5.5 in the NVT, and a 6 in the Volume of Feelings, for an average rating of 5.5 (neutral).

The BAT Token scored 8.5 in the DAA vs. Price Divergence, a 9.5 in the NVT, and a 6 in the Sentiment Volume, with an average rating of 8.0 (high).

And Maker got a 9 on the DAA vs. Price divergence, a 10 on NVT, and a 5.5 on Sentiment Volume for an average rating of 8.2 (high).

Long Term

However, Santiment warns that none of these scores are indicative of the company's long-term outlook for each asset.

"With each weekly volume we release from the Bold Predictions series, we examine the most recent three-day averages (or percentage changes) of each metric we're covering. As a reminder, these signals are for intra-day traders to evaluate local highs and lows based on historically solid key indicators…"

Thus, according to the company, the valuations do not indicate however in which asset investors should invest.

"Regardless of whether we call a project high or low for the next week or two, remember that this has no relevance to what we think of the long-term viability of the asset as an investment," he concluded.

Analysts explains that Bitcoin was discontinued by coronavirus


Since the lows recorded in mid-March, Bitcoin (BTC) has rebounded and has risen 110%. Even so, the cryptocurrency has not registered a steady upward trend.

In fact, BTC has been stuck in a series of sideways over the past three months, despite showing signs of an upward trend as it rose to $10,000.

Now, well-known analyst Willy Woo is noting that the Covid-19 crisis was the key factor in stopping an ongoing Bitcoin rally.

However, it is not all sadness. Woo believes that a new high may occur soon.

Covid-19 halted Bitcoin bullishness

In a series of posts made on Twitter on June 27, Willy Woo presented a new model that can identify the start of big bulls.

He goes on to say that the BTC was preparing the ground for an exponential rise before the coronavirus pandemic “ended the party”.

However, the model also suggests that an increase is near. According to the analyst's predictions, the next high may occur within a month.

The greater the consolidation, the higher the next peak price

It has also been commented that the BTC is contained in a narrow trading range is not completely negative. On the contrary, a long-range of lateral accumulation is really a good thing.

He explains that the longer it takes for the market to rise, the greater the chance of a higher price spike.

According to analysts:

“The longer this high takes to start, the higher the peak price will be. A long range of lateral accumulation is ultimately a good thing. ”

According to analysts, predicting further consolidation on the BTC horizon before rising within a month, investors should prepare for strong turbulence in the short term.

In other words, when the next price drop occurs, investors cannot sell because of the panic - as a big rise is likely to follow.