At press time, the market’s largest crypto seemed to be recovering from its 10.6% weekly drop and was trading around the $30k price level. In fact, the aggregate volume of large transactions that denotes the interest of institutional investors registered a considerable decline over the past few days. Notably, the number of active addresses has […]
In the words of Michael van de Poppe, “Magnificent fuckery going on today on crypto and Bitcoin”, that does seem to be the case as Bitcoin in the late hours of June 22, fell below $29,000 and created a new wave of panic in the market. At the start of this year, BTC was at […]
The updated restrictions in China have put immense pressure on miners and Bitmain intends to help them out. Chinese journalist, Colin Wu confirmed the news and added that the company has also given a go-ahead for a full overseas transfer due to which some of the top-level executives were moving overseas. Earlier today, Canaan, one […]
Finally, even though Filecoin showed signs of recovery, it still traded below its crucial support zone. The coin saw heavy sell-offs on June 21, however, at press time the Relative Strength Index had moved north towards the neutral zone. At press time, the altcoin was priced $6.38, a 60% fall from its highest valuation of […]
Just last year, the Bank of America Securities came out with a report that stated traditional wisdom of investing 60% of your portfolio in stocks and 40% in bonds is dead. In early 2021, the global market for stocks was $95 trillion and for bonds it was $105 trillion, as opposed to the $1 trillion […]
The Securities and Exchange Commission is yet to approve a Bitcoin Exchange Traded Fund in the United States. However, to date, the agency has used the upper cap, 240 days, to review most of the Bitcoin ETF applications. It should be noted that this filing comes a week after the SEC delayed its judgment on […]
There is something extremely unique one notices during a cryptocurrency meltdown – the optimistic lot take to social media with their #buythedip sentiment. According to Santiment, after Bitcoin dipped below the $30,000 mark, its social weighted sentiment reached its lowest position, last witnessed about 12 months back. According to the daily chart, #buythedip sentiment makes […]
Many analysts have been using this term to make predictions about the market going forward, keeping Bitcoin as their focal point. His analysis’s prime focus was on Whales’ shifting positions as recently some huge amounts of selling were observed in the market. A similar pattern had been observed in 2017 as well when 5 waves […]
The current market downtrend has some people convinced that Bitcoin has peaked and that the sane course of action is to just cut losses and sell. With regard to corrections, a few events led to Bitcoin’s downfall. Can it go lower than this? According to PlanB, here’s how the price projection looks like from June […]
Litecoin fell by almost 14% over the past 24 hours, followed by Chainlink, with the latter depreciating by 12.3% over the same period. Bears have been dominant for almost a week and a half now and on the 4-hour trading chart, the coin had still not embarked on its journey to recovery. Bitcoin’s market capitalization […]
The asset has suffered a drop of nearly 20% in price in the past week, however, this has not deterred traders from buying, and accumulation continues. At the same time, while Bitcoin continues to trade below the $35000 level, on-chain data showed that the most significant support zone for Bitcoin was between $31700 and $33500. […]
Since the weekend, the digital asset has been losing value as China’s crackdown on cryptocurrency may have injected fear investors. This sell-off could be the result of the Death cross making its way to the Bitcoin market. This denoted the panic in the market; traders may have sold positions to realize profits before BTC hit […]
Historically, this has been considered the ideal time to buy the dip, accumulate, when the crowd has turned against Bitcoin. Though the % of large investors holding Bitcoin has dropped considerably, the percentage of profitable investors has gone up. So what choice does the retail trader have? You either buy the dip and accumulate till […]
Correlations between these assets have varied over time and often BTC has been able to ride on the greener side of things. Yet, the market was in the middle of a tricky situation at the moment, where bearish sentiment is holding a strong position after months of being dominated by bulls. In order to gauge […]
China’s clampdown on cryptocurrency mining in the key province of Sichuan piled on further selling pressure on the global cryptocurrency market. BTC’s 19th May swing low of $30,000 was the last major support zone and an argument can be made in the favor of a sharper retracement if the defensive line is not maintained. Although […]
Over the past month, Bitcoin’s price has oscillated between the $31k to $45k range, inclining more towards the lower end of the range. These whales now hold a 7-week high of 9.11 million BTC in aggregate, and that’s currently worth $366.89 billion. The number of addresses holding less than one BTC has also doubled over […]
Over the weekend, the Bitcoin market lost nearly 15% and at the press time was seen pushing past its support and trading at $32,829. Although Bitcoin tried to hold on to various support levels on its way down, the asset was experiencing a high sell-off. Traders were trying to stabilize the BTC value at this […]
Even though there was evident reluctance during the initial days, people now have started welcoming the same with open arms. As a matter of fact, the digital economy of the United States has been growing at triple the pace of its own national GDP. Complete digitization of financial services, and currencies for that matter, is […]
“Drop down” seems like a trend for Bitcoin at the moment: From its price ‘dropping down’ over the past few days, with Social Sentiment was also seen dropping since May 19th. According to data from blockchain.com, the Bitcoin hashrate has dropped significantly over the past few days, recording a rate previously witnessed during November 2020, […]
Bitcoin, for a very long time, has been facing a lot of skepticism over the last decade. Retweeting an old video that resurfaced on Twitter, Saylor reiterated his bullish narrative for Apple back when the iPhone 5 was released. According to Bitcoin Treasuries, MicroStrategy holds the highest amount of Bitcoin on their balance sheet, around […]