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BitMEX CEO Arthur Hayes has once again emerged – this time from the top of Peru’s mysterious city in the sky, Machu Picchu.
Hayes brought with him a new prediction on the price of Bitcoin, saying he thinks it’s now on a path to doubling in value.
Did y’all miss me? I’m back from deepest darkest Peru, ready to cash checks. For those of you in Singapore next week for Invest Asia keep Wednesday night free. We will be two-steppin’ straight to $20k. pic.twitter.com/R0UYHinuHw
— Arthur Hayes (@CryptoHayes) September 3, 2019
Right now, Bitcoin is up 4.97% at $10,661, according to COIN360 at time of publishing.
Ethereum is up 1.18% at $180.15, XRP is up 0.52% at $0.2622 and Litecoin is up 3.39% at $68.92.
CoinDesk analyst Omkar Godbole says low volume indicates it’s too early to declare that a renewed BTC bull run is underway.
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“Weak trading volumes, however, indicate the recovery could be short-lived and a fall back to $9,750 could be in the offing in the next day or two. Weekly chart indicators continue to call a bearish move.
A high-volume UTC close above the bearish lower high of $10,956 (Aug. 20 high) is needed to revive the short-term bullish outlook.”
Here’s a look at the latest forecasts from across the cryptosphere.
Bitcoin
CoinDesk – BTC dominance up, but trading volumes tell another story
Bitcoinist – Bitcoin price levels nearing a key breakout point
Ethereum
NewsBTC – Successful close above $180 is needed for bullish continuation
Crypto Daily – Technical support expected around $172, with resistance at $183
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XRP
FXStreet – XRP/USD in consolidation mode, moving within bearish pennant structure
Litecoin, Bitcoin Cash, Binance Coin, Tron
FX Empire – LTC needs support of the broader market to remain above $68
NewsBTC – Crypto market rally looks real: LTC, BNB, BCH, TRX analysis
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