Tag: Wayne Burritt

Lessons From BTC Price Action

Posted on by Wayne Burritt

If you hang around the markets long enough, you learn a couple of lessons about how they behave really fast. And this holds for BTC:

    1. The first lesson is that things work out like you thought they would.
    2. The second lesson is that things don't work out like you thought they would.
    3. And the third lesson is that things work out like you thought they would, but not when you thought they would.

So, when I took a look at what was happening from a technical standpoint to Bitcoin (BTC) over the past couple of weeks, I have to admit that lesson 3 was in full swing.

Here's what I mean. Continue reading "Lessons From BTC Price Action" →

Behind Goldman's Huge Bitcoin Prediction

Posted on by Wayne Burritt

I don't have to tell you that financial powerhouses are quickly realizing that Bitcoin (BTC) and blockchain technology are revolutionizing the way we do just about everything, from conducting business to making financial transactions.

In fact, we took a deep dive into Bank of America's bombshell crypto report that pointed out in no uncertain terms that crypto is simply "too large to ignore." The report also made clear the transformative power of blockchain, where use cases are seemingly endless.

We also broke down the details behind Deloitte's Blockchain Survey, where blockchain made compelling business cases across the board. The report also made it apparent that if businesses don't get into the blockchain game, they did so at their own peril.

So, I wasn't exactly surprised when I found out that financial powerhouse Goldman Sachs was making some bold predictions about where Bitcoin prices are headed. But when I did a deep dive into the numbers, I found their predictions could even be on the low side. Continue reading "Behind Goldman's Huge Bitcoin Prediction" →

This Chart Pattern Spells Upside For BTC

Posted on by Wayne Burritt

If you've been reading my articles here at INO.com, I don't have to tell you that I lean on fundamental analysis when I talk about crypto.

You've also noticed that I don't hesitate to pull out a chart and do some technical analysis.

That's why today, we're going to use some technical analysis to explore a chart pattern that I've used for a long time and that all of a sudden popped up on my screen when I was in the midst of my routine studies of Bitcoin (BTC).

But before we get to that dynamite chart pattern, let's look at the difference between fundamental and technical analysis.

What's Fundamental And Technical Analysis?

Fundamental analysis looks at what an asset does, what its markets are, how it makes money. By looking at these features, fundamental analysis can provide opportunities for investors. And the assets that you can target with fundamental analysis can be pretty much anything, from a stock to a bond or a cryptocurrency. Continue reading "This Chart Pattern Spells Upside For BTC" →

The Truth Behind The Bitcoin Sell-Off

Posted on by Wayne Burritt

Let's get right to it, if you invest long enough, you're going to have to deal with markets behaving in knee-jerk ways, and the recent selloff is Bitcoin (BTC) fits the bill to a T.

The fact is Bitcoin, along with the entire crypto asset class, got pummeled because the Fed signaled that they're in the mood to raise interest rates sooner rather than later. This outlook, which came from the Fed's minutes of the December meeting, wasn't what the markets expected. And we all know that when the markets don't get what they expect, they take their toys, go home, and sell pretty much everything in sight.

So, what juicy secret did the minutes reveal? As with most Fed announcements, precise forecasts are hard to glean. But the gist was that the Fed would raise rates sooner rather than later.

But if you think that it was just crypto that took it on the chin, think again. This more hawkish view on interest rates also hammered stocks, especially tech stocks.

All told, since the beginning of 2022, Bitcoin has dropped 14%, the NASDAQ 7%, and the S&P 4%. So, basically, once the Fed's minutes hit the street, there was nowhere to hide.

What’s So Bad About Higher Interest Rates?

So, why don't markets like higher rates? Continue reading "The Truth Behind The Bitcoin Sell-Off" →

Bitcoin 2022 Price: $113,972!

Posted on by Wayne Burritt

While I’m not in love with price predictions, when I figured out a reasonable 2022 target for Ethereum (ETH), I have to admit I kinda enjoyed it.

So, I figured, why not kick off our first installment of 2022 with a bold prediction of where we think the price of Bitcoin (BTC) is headed over the next 12 months?

For this exercise, we'll ignore the fundamental factors that are in play behind these price movements. Instead, we'll just look at some charts, do a little math, and see where our BTC prediction journey leads us.

So, let's get started! Continue reading "Bitcoin 2022 Price: $113,972!" →