{"id":382828,"date":"2019-05-18T17:00:44","date_gmt":"2019-05-18T17:00:44","guid":{"rendered":"https:\/\/uniquehot.com\/?p=382828"},"modified":"2024-06-11T17:32:57","modified_gmt":"2024-06-11T17:32:57","slug":"bitcoin-stagnation-economist-high-hopes-crypto","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-stagnation-economist-high-hopes-crypto\/","title":{"rendered":"Despite Bitcoin (BTC) Stagnation, Economist Has High Hopes For The Crypto"},"content":{"rendered":"<ul>\n<li><em>Bitcoin (BTC) bears slow down<\/em><\/li>\n<li><em>In 20-30 years Bitcoin will be money says a BoE Chief Economist<\/em><\/li>\n<\/ul>\n<p><em>Andrew G. Haldane, the Chief Economist of the Bank of England, believes Bitcoin will be money in the next two to three decades. Presently, BTC is trending within a $30 range as bears attempt to press lower.<\/em><\/p>\n<h2>Bitcoin Price Analysis<\/h2>\n<h3>Fundamental<\/h3>\n<p>Well, it has been a see-saw for <a href=\"https:\/\/uniquehot.com\/2019\/05\/17\/bitcoin-great-gold-crypto\/\" target=\"_blank\" rel=\"noopener noreferrer \">Bitcoin<\/a> and most cryptocurrencies because of their direct correlation with the king. Although some skeptics as Roubini and traditional market influencers as <a href=\"https:\/\/uniquehot.com\/2018\/07\/17\/shark-tanks-kevin-oleary-sees-ethereum-will-beat-bitcoin-and-gain-dominance\/\" target=\"_blank\" rel=\"noopener noreferrer \">Kevin O\u2019Leary<\/a> of Shark Tank have their doubts, Bitcoin performance over the last decade is impressive. Designed to counter bankers and decentralize control, Bitcoin is now a global phenomenon. It is the basis of research and a blend of various disciplines, including Economics and Cryptography.<\/p>\n<p>According to Andrew G. Haldane, the Chief Economist of the Bank of England, the peer-to-peer electronic cash will be money in the next two to three decades. While addressing students, an eyewitness<a href=\"https:\/\/uniquehot.com\/2019\/05\/18\/bank-of-englands-chief-economist-thinks-bitcoin-could-replace-cash\/\"> said<\/a>:<\/p>\n<blockquote><p><em>\u201cMr. Haldane said it [Bitcoin] could replace cash. He even joked about us likely having Bitcoin in our wallets. He said he didn\u2019t think it\u2019d replace cash tomorrow, but he was quite open to the idea 20 or 30 years down the line. He was also quite familiar with cryptocurrencies and joked that there were now thousands of them.\u201d<\/em><\/p><\/blockquote>\n<h3>Candlestick Arrangement<\/h3>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\" wp-image-382822 aligncenter\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/05\/Bitcoin-Daily-Chart-May-18.png?resize=930%2C744\" alt=\"Bitcoin BTC\" width=\"930\" height=\"744\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/05\/Bitcoin-Daily-Chart-May-18.png?w=1280 1280w, https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/05\/Bitcoin-Daily-Chart-May-18.png?w=460 460w, https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/05\/Bitcoin-Daily-Chart-May-18.png?w=768 768w, https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/05\/Bitcoin-Daily-Chart-May-18.png?w=860 860w, https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/05\/Bitcoin-Daily-Chart-May-18.png?w=750 750w, https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/05\/Bitcoin-Daily-Chart-May-18.png?w=1140 1140w\" sizes=\"auto, (max-width: 930px) 100vw, 930px\"><\/p>\n<p>Meanwhile, bears are tapering and bear momentum slowing down. Bitcoin (BTC), although up 2.1 percent at the time of press, is correcting, printing lower lows albeit in tight trade ranges. Simply because of this, our last <a href=\"https:\/\/uniquehot.com\/2019\/05\/17\/bitcoin-btc-correction-in-progress-another-1300-drop-likely\/\" target=\"_blank\" rel=\"noopener noreferrer \">BTC\/USD trade plan<\/a> is valid.<\/p>\n<p>Despite yesterday\u2019s long lower wick hinting of support in smaller time frames, the fact that prices are trending in a $60 range just above the middle BB is a hint of underlying demand. Even so, the failure of buyers to print higher and prevent liquidation as volumes shrink is an indicator of sell pressure.<\/p>\n<p>Pasting a simple Fibonacci retracement tool on May high-low reveals that yesterday\u2019s prices retested the 78.6 level. However, typical of Bitcoin corrections and even with today\u2019s pull-back, we expect a retest of the $6,300 mark before Bitcoin snap back to the primary trend.<\/p>\n<h2>Technical Indicator<\/h2>\n<p>In general, average participation is high. By yesterday\u2019s close, mean volumes stood at 31k against 21k of May 13th. Even so, volumes are a tad bit lower at 37k against 47k of May 13th.<\/p>\n<p>Therefore, for trend continuation or nullification, any bar closing above $8,500 or $5,600 ought to be with high volumes exceeding 47k.<\/p>\n<pre><em><a href=\"https:\/\/www.tradingview.com\/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">Chart<\/a> courtesy of Trading View. Image Courtesy of Shutterstock<\/em><\/pre>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin (BTC) bears slow down In 20-30 years Bitcoin will be money says a BoE Chief Economist Andrew G. Haldane, the Chief Economist of the Bank of England, believes Bitcoin will be money in the next two to three decades. Presently, BTC is trending within a $30 range as bears attempt to press lower. Bitcoin Price Analysis Fundamental Well, it has been a see-saw for Bitcoin and most cryptocurrencies because of their direct correlation with the king. Although some skeptics as Roubini and traditional market influencers as Kevin O\u2019Leary of Shark Tank have their doubts, Bitcoin performance over the last decade is impressive. Designed to counter bankers and decentralize control, Bitcoin is now a global phenomenon. It is the basis of research and a blend of various disciplines, including Economics and Cryptography. According to Andrew G. Haldane, the Chief Economist of the Bank of England, the peer-to-peer electronic cash will be money in the next two to three decades. While addressing students, an eyewitness said: \u201cMr. Haldane said it [Bitcoin] could replace cash. He even joked about us likely having Bitcoin in our wallets. He said he didn\u2019t think it\u2019d replace cash tomorrow, but he was quite open to the idea 20 or 30 years down the line. He was also quite familiar with cryptocurrencies and joked that there were now thousands of them.\u201d Candlestick Arrangement Meanwhile, bears are tapering and bear momentum slowing down. Bitcoin (BTC), although up 2.1 percent at the time of press, is correcting, printing lower lows albeit in tight trade ranges. Simply because of this, our last BTC\/USD trade plan is valid. Despite yesterday\u2019s long lower wick hinting of support in smaller time frames, the fact that prices are trending in a $60 range just above the middle BB is a hint of underlying demand. Even so, the failure of buyers to print higher and prevent liquidation as volumes shrink is an indicator of sell pressure. Pasting a simple Fibonacci retracement tool on May high-low reveals that yesterday\u2019s prices retested the 78.6 level. However, typical of Bitcoin corrections and even with today\u2019s pull-back, we expect a retest of the $6,300 mark before Bitcoin snap back to the primary trend. Technical Indicator In general, average participation is high. By yesterday\u2019s close, mean volumes stood at 31k against 21k of May 13th. Even so, volumes are a tad bit lower at 37k against 47k of May 13th. Therefore, for trend continuation or nullification, any bar closing above $8,500 or $5,600 ought to be with high volumes exceeding 47k. Chart courtesy of Trading View. Image Courtesy of Shutterstock<\/p>\n","protected":false},"author":384,"featured_media":381765,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[296,428,14703,1119],"class_list":["post-382828","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bank-of-england","tag-bitcoin","tag-boe","tag-btc"],"acf":[],"yoast_head":"\n<title>Despite Bitcoin (BTC) Stagnation, Economist Has High Hopes For Crypto<\/title>\n<meta name=\"description\" content=\"At the back of increasing awareness and infrastructure development, Bitcoin (BTC) could be money in the next two to three decades.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto. The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. 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The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. 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His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto. The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance. His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry. Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion. Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers. DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations. Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature. When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills. You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.","sameAs":["https:\/\/www.linkedin.com\/in\/dalmas-ngetich-40a67a147\/","https:\/\/x.com\/Dalmas_Ngetich"],"url":"https:\/\/uniquehot.com\/author\/dalmasngetich\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Despite Bitcoin (BTC) Stagnation, Economist Has High Hopes For The Crypto","url":"http:\/\/uniquehot.com\/news\/bitcoin-stagnation-economist-high-hopes-crypto\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-stagnation-economist-high-hopes-crypto\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/05\/shutterstock_553674613-e19.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/05\/shutterstock_553674613-e19.jpg?fit=3000%2C1714"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Dalmas Ngetich"}],"creator":["Dalmas Ngetich"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bank of england","bitcoin","boe","btc"],"dateCreated":"2019-05-18T17:00:44Z","datePublished":"2019-05-18T17:00:44Z","dateModified":"2024-06-11T17:32:57Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Despite Bitcoin (BTC) Stagnation, Economist Has High Hopes For The Crypto\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-stagnation-economist-high-hopes-crypto\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-stagnation-economist-high-hopes-crypto\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2019\\\/05\\\/shutterstock_553674613-e19.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2019\\\/05\\\/shutterstock_553674613-e19.jpg?fit=3000%2C1714\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Dalmas Ngetich\"}],\"creator\":[\"Dalmas Ngetich\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bank of england\",\"bitcoin\",\"boe\",\"btc\"],\"dateCreated\":\"2019-05-18T17:00:44Z\",\"datePublished\":\"2019-05-18T17:00:44Z\",\"dateModified\":\"2024-06-11T17:32:57Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/05\/shutterstock_553674613-e19.jpg?fit=3000%2C1714","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/382828","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/384"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=382828"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/382828\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/381765"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=382828"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=382828"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=382828"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}