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VGX Price Prediction: Can VGX Reach $1 Amid 250% Price Boost?

VGX Price Prediction Can VGX Reach $1 Amid 250% Price Boost

Voyager token had boosted its price to over +250% in the past week. Bullish VGX price prediction in 2021 is up to $1. Voyager network increased its assets fund to over $265 million in early January. Voyager Token (VGX), formerly known as Ethos (ETHOS) cryptocurrency, electrified the crypto world in the past week. Specifically, it …

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  • Voyager token had boosted its price to over +250% in the past week.
  • Bullish VGX price prediction in 2021 is up to $1.
  • Voyager network increased its assets fund to over $265 million in early January.

Voyager Token (VGX), formerly known as Ethos (ETHOS) cryptocurrency, electrified the crypto world in the past week. Specifically, it surged to over 250%. As a result, VGX is now on close watch by investors around the world.

The recent acceleration of VGX price is likely attributed by its asset increase to over $265 million in early January. In terms of market position, the market capitalization of VGX amounts to almost $155 million. Furthermore, VGX has an average daily trading volume of over $20 million.

For interested crypto traders, the crypto trades at exchanges such as Binance, Atomars, and HitBTC, to name a few. Hence, traders have more options to liquidate and trade their VGX tokens.

With these recent developments, is VGX a good investment in 2021? Let’s find out in this VGX price prediction 2021 article.

Voyager Token (VGX)  Price Analysis

VGX ALMA and RSI
VGX ALMA and RSI (Source: TradingView)

Based on the graph above, VGX continues to move above the Arnaud Legoux Moving Averages (ALMA), a bullish indicator. Recently, VGX trades a high price of $0.719 with a growth rate of +313% in the past 7 days. If this keeps on, the bulls might rally its price near $.80 to $.85.

Granted that, traders can predict the price of the crypto to reach $1, a bullish price with almost +40% from its current price. Of course, this most likely will happen if the bullish market remains in favor of the crypto.

However, if the bullish market turns against the crypto, VGX might break out from its uptrend position. In other words, the crypto price might decline to over $.35. In this case, VGX must regain its composure and head back to a price above ALMA. Otherwise, the bears might drag the price of the crypto even further to $.20, a level that could trigger FOMO.

Regardless, the moving average convergence/divergence (MACD) remains above the signal indicator. In short, the traders can still look forward to more bullish days ahead.

Meanwhile, the relative strength index (RSI) of the crypto is already at its overbought state. For this reason, traders, especially scalp and day traders, must trade with caution because anytime VGX might trigger a price reversal.

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.

Source: https://coinquora.com/vgx-price-prediction/

Blockchain

TA: Bitcoin Price Back Below 100 SMA, Why BTC Could Retest $45K

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Bitcoin price failed to stay above $50,000 and $49,000 against the US Dollar. BTC is now below the 100 hourly SMA and it is likely to continue lower towards $45,000

  • Bitcoin started a fresh decline below the $50,000 and $49,000 support levels.
  • The price is now trading well below $50,000 and the 100 hourly simple moving average.
  • There is a connecting bearish trend line forming with resistance near $49,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair could extend its decline towards $45,000 as long as it is below $50,000.

Bitcoin Price Turns Red

After forming a short-term top near the $52,600 level, bitcoin started a fresh decline. BTC traded below the $51,200 and $50,000 support levels to move back into a negative zone.

There was also a break below a major bullish trend line with support near $49,500 on the hourly chart of the BTC/USD pair. The pair even broke the $48,000 support level. There was a clear break below the 50% Fib retracement level of the upward wave from the $43,050 swing low to $52,650 high.

It is now trading well below $50,000 and the 100 hourly simple moving average. It seems like the bulls are trying to protect the 61.8% Fib retracement level of the upward wave from the $43,050 swing low to $52,650 high.

Bitcoin Price

Source: BTCUSD on TradingView.com

If they fail and the price trades below $46,500, there are chances of more losses. The next key support is near the $45,000 level, below which the bears might aim a test of the $43,000 support zone.

Fresh Increase in BTC?

If bitcoin stays above $46,500, it could correct higher. An initial resistance on the upside is near the $48,000 level. The first major resistance is near the $49,000 level and the 100 hourly simple moving average.

There is also a connecting bearish trend line forming with resistance near $49,000 on the same chart. To move into a positive zone, the price must clear the trend line resistance and then gain pace above the $50,000 barrier.

Technical indicators:

Hourly MACD – The MACD is now gaining momentum in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now well below the 50 level.

Major Support Levels – $46,500, followed by $45,000.

Major Resistance Levels – $48,000, $49,000 and $50,000.

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Source: https://www.newsbtc.com/analysis/btc/bitcoin-btc-could-retest-45k/

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Analyst tells Tesla to dump Bitcoin for buybacks as shares plunge alongside MSTR’s

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A former equities CIO of Goldman Sachs drew an strong response on Twitter after suggesting Tesla should sell its Bitcoin and buy back company shares.

The price of TSLA shares have fallen 28% from $863.42 to $621.44, since news broke on Feb. 8 that Tesla had made a $1.5 billion BTC acquisition.

MicroStrategy’s shares have fared even worse in the short term. The company, which is headed by Bitcoin bull Michael Saylor and just completed its latest acquisition of $15 million in BTC on Mar. 3, is now down 50% from its all-time high of $1,315 from Feb. 9.

Tesla’s share market woes are likely due to a number of factors. In early February, it was reported that Tesla had been reprimanded by the Chinese government over quality control issues after receiving consumer complaints. The broader stock market has also experienced volatility, with the S&P 500 down 4.1% in the last 30 days. 

But the tweet from longtime Tesla analyst Gary Black, who has several decades of financial management experience, sparked a debate on whether Tesla’s purchase of $1.5 billion in Bitcoin last month had benefited investors.

“I don’t want them buying back stock,” said Twitter user Techgnostik. “I want them investing in growth, and making another billion on their BTC position.”

Black countered by suggesting TSLA would also draw inclusion by more fund managers with a share buyback program, considering it of greater value to the investor than buying BTC “with excess cash.”

Some users on Twitter agreed that a stock buyback seemed to be a more appropriate use of funds, while others felt too much attention was being paid to what Tesla did with 8% of their cash reserves.

It’s not easy to ascertain the impact buying Bitcoin has had on a company’s bottom line. While MicroStrategy’s share price has halved in a month, shares of MSTR are still up 340%, (from $146.63 to $645.66), since the company announced its first purchase of 21,454 BTC on Aug. 11, 2020. The price of BTC is currently up 310% from the same date.

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Source: https://cointelegraph.com/news/analyst-tells-tesla-to-dump-bitcoin-for-buybacks-as-shares-plunge-alongside-mstr-s

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Experts divided on BTC predictions: Bullish or super bullish?

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Despite the current battle between Bitcoin bulls and bears around the $50,000 price mark — and an 8.7% pullback over the past 24 hours — a raft of analysts and commentators have got out their crystal balls to tip a glittering future for Bitcoin prices.

On Mar. 4, Senior Commodity Strategist for Bloomberg Intelligence Mike McGlone pointed to historical data to suggest that Bitcoin is on the way to $100,000.

McGlone’s logic revolves around the growing discount for shares in the Grayscale Bitcoin Trust which is at the same level as last year’s Black Thursday collapse. The discount refers to when shares in the Grayscale Bitcoin Trust trade for less than the value of the underlying Bitcoin (normally they trade at a premium).

Looking at historical data, said that

Twitter user “Lee Hendricks” wasn’t convinced, suggesting the catalyst for Grayscale’s discount could be the result of pressure from upcoming ETFs and other crypto funds. (Although that’s arguably bullish too.)

The Bloomberg strategist isn’t the only expert with high expectations for BTC, with influencer and YouTuber Lark Davis stating on Mar. 4 that “we are just now past the first major price wave,” with two more, larger waves to come.

On March 2, technical analyst Kaleo posted a chart predicting BTC will hit $100,000 near the start of April this year.

It’s a follow-up on his “Bitcoin Halving Reward Era Price” analysis chart two years ago predicting the price would reach $200,000 around mid-2021. He tweeted two weeks ago that he still has faith in it:

“It is by far the most accurate, long-term chart prediction I’ve ever seen for Bitcoin… $BTC will hit $200K+ this cycle.”

Another analyst who goes by the Twitter name MasterChangz, told his 10,000 followers he believes Bitcoin will hit the $200,000 mark even earlier than mid-2021, potentially at the start of April. The next rise, he said, is to $77,000 over the next two weeks.

Other predictions are even bolder with Kraken CEO Jesse Powell stating the cryptocurrency could reach $1 million or even “infinity” in a Bloomberg television interview on Mar. 4, adding that it will eventually become the world’s currency.

“We can only speculate, but when you measure it in terms of dollars, you have to think it’s going to infinity,” he said. “The true believers will tell you that it’s going all the way to the moon, to Mars and eventually, will be the world’s currency.”

Kraken Head of Growth Dan Held, echoed this prediction on Mar. 5, claiming on Twitter that:

“Bitcoin is more likely to hit $1,000,000 than $0.”

Even past Bitcoin skeptics are becoming crypto converts with investment firm Sanders Morris Harris CEO George Ball admitting to Yahoo Finance on Mar. 4 that he believes cryptocurrencies are now “attractive” as a “small part” of any portfolio.

“With the cryptocurrencies, I think there is a fundamental hydra-headed shift that makes them attractive as a part, a small part, of almost any portfolio,” Ball said.

Despite this wave of optimism, history also suggests March could be a bloody month, with Bitcoin’s price falling across the month in six of the past nine years by an average of 5.8%. The most recent of these occurred last year on Black Thursday when the price plunged by 50%. That said, the second-biggest monthly candle in BTC history happened in March 2013, when the price shot up 179%.

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Source: https://cointelegraph.com/news/experts-divided-on-btc-predictions-bullish-or-super-bullish

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