The most popular place in the world for “Bitcoin” searches on Google? Lagos, Nigeria, according to Google Trends. Due to inflation and a struggling economy, Nigeria is considered an emerging market for crypto.
By an even wider margin, Lagos is also the most popular city in the world for the search term “Buy Bitcoin.” In terms of “Bitcoin” searches, the remaining top 10 cities are dominated by European, American and Australian metropolises.
Top 10 Cities for “Bitcoin” Searches
- Los Angeles
- New York
In the US, Google searches for Bitcoin continue to outperform Ariana Grande and Kim Kardashian, but Donald Trump has resurfaced, outperforming Bitcoin.
Ethereum’s list of top-searching cities now displays six destinations – Singapore, New York, London, Istanbul, Los Angeles and Toronto.
XRP’s list, which registers eight cities, may reflect Ripple’s focus on banking – Sydney, Melbourne, New York, Los Angeles, Chicago, London, Singapore and Istanbul.
Top 3 Price Prediction Bitcoin, Ripple, Ethereum: Next bullish targets after BTC/USD leapfrogs $12,000 as Facebook’s Libra makes waves – Confluence Detector
- Cryptocurrencies seem to have ended their consolidation phase and enjoy another surge.
- The incessant talk about Libra and the renewed interest in cryptos is pushing prices higher.
- Here are the next levels to watch according to the Confluence Detector.
A week has passed since Facebook announced its cryptocurrency project – but the social media behemoth just cannot stay out of the news – in the crypto-sphere and in the broader public.
The incessant chatter helps bring Bitcoin and to a lesser extent Ethereum and Ripple to the spotlight – and to investors’ minds. Digital coins are seeing higher inflows – and this also draws more attention and additional money flowing in.
Facebook – which has been under scrutiny for years due to privacy concerns – may bring much needed regulation to the world of cryptos and perhaps help bring about a Bitcoin Exchange Traded Fund (ETF) which may draw mainstream investors into the digital coin.
How far can BTC, ETH, and XRP go? In the short term, a lot depends on the technicals.
This is what the Crypto Confluence Detector shows in its latest update:
BTC/USD eyes $13,829
Bitcoin has broken above the round number of $12,000 and enjoys some support at $12,170 which is the convergence of the Pivot Point one-week Resistance 3 and the Bollinger Band 15min-Upper.
Substantial support awaits at $11,538 where we see the confluence of the Fibonacci 38.2% one-day, the BB 1d-Upper, and the BB 1h-Middle.
BTC/USD has its eyes on $12,867 which is where the Pivot Point one-day Resistance 3 awaits the granddaddy of cryptocurrencies.
The next upside target is $13,829 which is the Pivot Point one-month Resistance 3.
ETH/USD targets $368
Ethereum has been on the rise as well and has left $300 behind. It is now eyeing $345 where the Pivot Point one-week R3 meets the price.
Further above, it targets $368 which is where we find the Pivot Point one-month Resistance 3.
ETH/USD has some support at $320 which is a cluster of lines including the BB 1d-Upper, the Simple Moving Average 5-1h, the SMA 10-15m, and the PP 1d-R1.
The next support line is $313 where we find the convergence of the SMA 100-15m, the Fibonacci 38.2% one-day, the SMA 10-4h, the BB 1h-Middle, and the SMA 50-15m.
Vitalik Buterin’s brainchild has a last-resort cushion at $291 where we find a juncture including the previous monthly high, the Fibonacci 23.6% one-week, and the SMA 10-1d.
XRP/USD eyes $0.5250
Ripple has overcome tough resistance, now turned support at $0.4700 which is a minefield of lines including the SMA 5-4h, the BB 15min-Middle, the Fibonacci 61.8% one-day, the PP 1w-R1, the SMA 5-1h, and the BB 4h-Middle.
Further support awaits at $0.4500, where the Fibonacci 23.6% one-week and the SMA 10-1d converge.
XRP/USD faces resistance at $0.5125 which is the where the PP 1m-R1 meets the price.
The upside target is $0.5250 where another Pivot Point awaits the price – the one-week Resistance 3.
Pay Close Attention to Bubbles in Venture Capitalist Altcoins and Watch as they Pop
In the early days, the idea of venture capital didn’t match well with crypto or maybe it did but potential venture capitalists were largely reluctant.
There were a thousand and one different ways one could easily justify the reluctance but after a few years, the venture capitalists that disregarded the cryptocurrency sector eventually became disregarded by the same sector, forcing them to run back either because they now saw that it was a hit or simply for FOMO.
However, there still were quite a few of these VCs who bought into the sector and are still smiling today.
Predicted Altcoin Pop
However, a recent tweet from ‘Trading Room’, drew a parallel between venture capital funds and a predicted pump in altcoin value.
According to the tweet:
Around the middle of last year, the value enjoyed by the altcoins backed by venture capitals and even the crypto market, in general, began to change, ending a two-month dump period. Trading Room suggests that this might not be unconnected to the annual half-year closing for these VC supported funds.
How’s the Near Future Looking?
At the moment, most of the major altcoins are performing satisfactorily even if there are brief moments when they trade in the green. However, that could change anytime soon. If last year’s trajectory is to be considered, these enticing altcoin bubbles just might burst sometime within the next week.
However, the most certain part of the cryptosphere is uncertainty. There’s a chance, however slim, that these pops don’t happen in the space of a few days and the bubbles are enjoyed a bit more.
On one hand, altcoins currently look good and don’t portend any doom at all. On the other, however, history is not to be easily discarded and some analysts and traders like Trading Room are known to have helped give investors a soft landing with forecasts especially when it supports a pattern being formed, however slowly.
Generally, even if the pops may not last, it would be very wise to expect them soon.
Bitcoin Smashes $12K, Crypto Cap Up $25 Billion: BCH, LTC, EOS, ADA Analysis
- The total crypto market cap rallied recently and broke the key $325.0B resistance area.
- Bitcoin price is up more than 8% and it recently broke the key $12,000 barrier.
- Litecoin (LTC) price is likely to accelerate above the key $140 resistance area.
- Bitcoin cash price about to surpass the main $500 resistance to start a fresh increase.
- EOS price is currently above $7.300 and it could rise towards the $7.400 and $7.500 levels.
- Cardano (ADA) price is about to gain momentum above the key $0.1000 resistance area.
The crypto market cap surged above $340.0B, bitcoin (BTC) broke $12,000, and Ethereum (ETH) climbed above $330. Altcoins such as ripple, litecoin, BCH, EOS, tron (TRX), and ADA could continue higher.
Bitcoin Cash Price Analysis
There was a slow and steady rise in bitcoin cash price from the $460 support against the US Dollar. The BCH/USD pair climbed above the $470 and $480 resistance levels to move into a positive zone. The price is now trading above $485 and it seems like the bulls are likely to push the price above the $500 barrier in the near term.
Above $500, the price could accelerate towards the $515 and $520 levels. On the downside, the main supports are near $480 and $470.
Litecoin (LTC), EOS and Stellar (XLM) Price Analysis
Litecoin price is trading with a positive bias above the $125 and $130 support levels. LTC price is facing a strong resistance near the $140 level, above which there are chances of sharp gains towards the $150 level. On the downside, a break below the $130 support might start a bearish wave.
EOS price settled above the $7.20 and $7.25 support levels. It seems like the price is facing a tough resistance near the $7.45 and $7.50 levels, above which there are high chances of a run towards the main $8.00 resistance.
Cardano price remains in an uptrend above the $0.0900 and $0.0920 support levels. ADA price recently broke the $0.0950 and $0.0980 resistance levels. It is currently near $0.1000 and it may perhaps continue to rise towards the $0.1050 and $0.1100 levels.
Looking at the total cryptocurrency market cap hourly chart, there was a sharp rise above the main $325.0B resistance level. The market cap gained more than $25 billion and broke the $340.0B resistance. The current technical formation is very positive, suggesting more upsides towards the $350.0B and $360.0B levels. If there is a downside correction, the previous resistance near the $325.0B level is likely to act as a strong support. Overall, there are chances of further upsides in bitcoin, Ethereum, EOS, litecoin, ripple, ADA, BCH, XLM, BNB, TRX, XMR, and other altcoins.