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Bitcoin (BTC) Price Prediction for May 19. BTC/USD. The price of Bitcoin (BTC) has declined by 0.19% since yesterday. Over the last week, the price has risen by 9.57%. On the hourly chart, the rate of BTC is looking bearish as it is returning to the support level of $66,853. If nothing changes by the end of the day, one can expect a breakout followed by a move to the $66,500 area. On the bigger time frame, the price of the main crypto has made a false breakout of the resistance at $67,482. If the candle closes near its low, there is a chance of a drop to $66,000 the upcoming week. A better situation is on the weekly time frame. The bar is about to close near the $66,900 level. If bulls can hold the gained initiative, the accumulated energy might be enough for a further upward move to $70,000. Bitcoin is trading at $66,760 at press time.

Bitcoin (BTC) Price Prediction for May 19.

BTC/USD.

The price of Bitcoin (BTC) has declined by 0.19% since yesterday. Over the last week, the price has risen by 9.57%.

On the hourly chart, the rate of BTC is looking bearish as it is returning to the support level of $66,853. If nothing changes by the end of the day, one can expect a breakout followed by a move to the $66,500 area.

On the bigger time frame, the price of the main crypto has made a false breakout of the resistance at $67,482. If the candle closes near its low, there is a chance of a drop to $66,000 the upcoming week.

A better situation is on the weekly time frame. The bar is about to close near the $66,900 level.

If bulls can hold the gained initiative, the accumulated energy might be enough for a further upward move to $70,000.

Bitcoin is trading at $66,760 at press time.

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SpaceX Hits Major Milestone, Community Expects DOGE to the Moon. Tech centibillionaire Elon Musk has announced a major new milestone achieved by one of his largest and oldest companies - SpaceX. The community on the X platform, which also belongs to him, responded immediately, congratulating the hard working CEO. Among them were also crypto-themed accounts that made allegations about SpaceX's crypto holdings going up in the future. "SpaceX's crypto clearly going to moon". In his tweet, the innovative entrepreneur, Musk, sent congratulations to the SpaceX team on its major new record – three million customers in 99 countries on the planet. Musk also extended his gratitude to SpaceX customers for buying Starlink. Recently, as was announced by Elon Musk, this space-internet connection became available in Indonesia. Musk paid a visit to Bali as part of the promotion campaign. Crypto user @XRPcryptowolf tweeted that he expects crypto held by SpaceX to go to moon. It is widely known that SpaceX holds Bitcoin and Dogecoin. As of March 1, SpaceX and Tesla together hold $1.3 billion worth of Bitcoin, with more than half a million U.S. dollars in profits after the bull run that took place back then. As for DOGE, this is is the only cryptocurrency both SpaceX and Tesla accept for their merchandise in online shops. Elon Musk makes "Black Mirror" warning. Earlier today, Musk commented on the recent Al innovation presented by the Microsoft Corporation to the public. It is a new feature added to the Copilot + PC, named "Recall." The new feature will create photographic memories for users, Microsoft CEO Satya Nadella claims. It will take screenshots of all user activity on a PC and then process it with Al. Users will be able to search through this archive later on, according to the idea. Elon Musk responded, saying that this really looks like "a Black Mirror" episode - a popular TV series about possible dystopian futures and the dominating role of technologies. Musk tweeted that he will certainly switch this feature off. #MemeWatch2024
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Dogecoin (DOGE) Skyrockets 150% in Volume Amid Bullish Momentum. Dogecoin (DOGE) has seen a huge surge in trading volume, propelled by a bullish trend on the broader cryptocurrency market. The trading volume for DOGE spiked by an impressive 151.93%, reaching $2.06 billion, reflecting renewed investor interest and activity surrounding the meme-inspired cryptocurrency. Simultaneously, Dogecoin's market capitalization has increased by 9.05% to $23.73 billion, solidifying its position as the eighth largest coin by market cap and the largest meme coin on the market. The rise in market cap indicates a significant inflow of capital into DOGE, driven by market optimism and positive sentiment. Interestingly, data from CoinGlass indicates that Open Interest in Dogecoin has also surged by 18.63%, currently standing at $970.77 million. Open Interest represents the total number of outstanding derivatives contracts, providing insights into market participants' sentiment and potential future price movements. Dogecoin price goes bullish. As of the latest trading data, DOGE is priced at $0.1649, marking an increase of 8.45% over the last 24 hours. In terms of technical indicators, the Relative Strength Index (RSI) for the meme coin stands at 56.83. RSI measures the magnitude of recent price changes to evaluate overbought or oversold conditions on a particular asset. A value above 50 generally indicates bullish momentum, suggesting that DOGE is currently experiencing moderate buying interest. Meanwhile, the Moving Average Convergence Divergence (MACD) for DOGE is at 0.0009. MACD is a trend- following momentum indicator that shows the relationship between two moving averages of a coin's price. A positive MACD value suggests that the bullish momentum is strengthening, potentially signaling a further price increase. Overall, the recent surge in Dogecoin's trading volume, coupled with increases in market cap and open interest, shows growing investor confidence. #MemeWatch2024
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Shibarium on Verge of Major Record as Transactions Shoot up 209%. Shibarium, the layer-2 scaling solution associated with the Shiba Inu (SHIB) ecosystem, is reacting positively to the new uptrend on the market. Over a period of seven days, the total transaction count on Shibarium jumped from 6,000 on May 14 to 18,560 as of May 20. This jump accounts for over a 209% surge. Shibarium is a unique blockchain protocol with a thriving community around it. For weeks, the Shibarium transaction count stayed relatively flat, however, the tides shifted when the Shiba Inu team launched the Shibarium hard fork on the mainnet. This marked a turnaround for the Ethereum L2 protocol. With the transaction boom, Shibarium is now eyeing breaking the 420 million total transaction record. While the timeline to achieve this is currently uncertain, Shibarium has the right catalyst to help it drive its position to a new level overall. Following the launch of the Shibarium hard fork, the Shiba Inu team also transitioned the ecosystem's pioneering decentralized exchange (DEX), ShibaSwap, to Shibarium. ShibaSwap to Shibarium marked a paradigm shift for the ecosystem as the DEX hosts transactions with the capacity to change the overall outlook of the meme coin project. The benefit is already showing up with a corresponding impact on the price. At the time of writing, Shiba Inu is changing hands for $0.00002568, up by 6.88% in 24 hours to mimic the general upshoot in the broader market. As a token associated with the Ethereum ecosystem, SHIB might benefit from the prospective launch of a spot ETH ETF product by the United States Securities and Exchange Commission (SEC). The odds of approval of this product at the time were less than 25%; however, Bloomberg ETF analysts raised their odds to a massive 75%, setting the market on a bullish rampage. If approved, the price of ETH might show further bullish strength, with a likely ruboff on Shiba Inu. #MemeWatch2024
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SHIB Price Prediction for May 21. SHIB/USD. The price of SHIB has increased by 6.45% over the last 24 hours. On the hourly chart, the rate of SHIB is closer to the local support than to the resistance. If buyers loser the interim level of $0.00002540, the drop may continue to the $0.000025 zone soon. On the bigger time frame, buyers could not keep the growth going after yesterday's bullish closure. If the candle closes far from the $0.000026 mark, there is a chance to see a correction to $0.000025. From the midterm point of view, it is too early to make any predictions. However, if the weekly bar closes above $0.000026 and with no long wick, the upward move may continue to the resistance level of $0.00002820. SHIB is trading at $0.00002623 at press time. #MemeWatch2024
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$70,000 Bitcoin (BTC) and $3,600 Ethereum (ETH) Push Liquidations to $260 Million. The enormous surge of Ethereum's price was not the most expected event, especially given the potential approval of the Ethereum ETF. However, with the most recent news, we might see it sooner than expected. As sentiment flipped from bearish to bullish, more than $250 million worth of shorts were liquidated in less than 24 hours. On the technical front, Bitcoin's recent move has broken through key resistance levels, sending a strong signal to the market. The daily chart shows Bitcoin successfully surpassing the $67,000 mark, which acted as a significant resistance. This breakthrough has set the stage for Bitcoin to aim for the $70,000 level, a milestone that could solidify its position in bullish territory. Ethereum's chart reveals a similar story. The cryptocurrency has managed to break past its 50-day and 200-day moving averages, indicating a strong upward momentum. The volume of trading has also seen a notable increase, suggesting growing investor interest and confidence in Ethereum's future prospects. The impact of these price movements on the broader market has been profound. According to data, more than $250 million worth of short positions were liquidated as traders rushed to cover their positions amid the bullish trend. This massive liquidation has added further fuel to the rally, pushing prices even higher. Interestingly, the liquidation data shows that the majority of these liquidations were short positions as, prior, to the Ethereum ETF news, the majority of the market was heavily inclined toward bearish sentiment. The chart provided indicates that in the past 24 hours alone, $328.73 million were liquidated, with $267.06 million coming from short positions. In its current state, the market may in fact gain momentum and enter the second phase of 2024's bullrun.
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