Despite its previous success, the stock-to-flow model attracted numerous opponents in the past year, given its failure to predict bitcoin’s price in 2022. Its creator, though, remains a believer and outlined the possible scenarios in play for BTC for the next halving, which is supposed to take place in a year. S2F Places BTC at...Read More
Bitcoin has posted the strongest quarterly returns since its November 2021 all-time high. Furthermore, BTC has gained more than 80% since the beginning of the year, making it the best-performing asset of 2023 so far. Comparatively, gold has gained just 9% in the same period, and the tech-heavy NASDAQ 100 has managed around 20% since...Read More
The Bitcoin price (BTC) began to bubble up from the $27,900 handle on Sunday, Apr 9. By Monday, it had entered into full rally territory, shooting up to $30,450 by Tuesday. But most of Jim Cramer’s audience probably missed the opportunity to make a cool 23% gain as he CNBC “Mad Money” host told viewers...Read More
Fed watchers expect the American central bank to raise the federal funds rate by 0.25 or 0.50 percent. The CME Fed Watch tool has notched up to anticipating a 0.50 interest rate hike in the Fed Funds rate, with a 72% probability of at least a 0.25 hike at the next meeting. The Yahoo Finance...Read More
Bitcoin appears to have hit a ceiling as the price continued to hover below the psychological resistance level of $30,000. This has led some to believe that the rally may soon come to an end since futures OI has been relatively flat throughout the year. But the options market has a different story to tell....Read More
Economic, financial, and business analysts have been on the lookout for an imminent recession since late 2022. The only question in a field of certainty that a mild recession is looming is where? Jamie Dimon: Bank Failures Could Lead to Recession in 2023 Will the recession emerge from a financial crisis? Will oil or some...Read More
According to on-chain analytics provider Glassnode, there are almost a million addresses holding more than one Bitcoin. Furthermore, the number of “wholecoiner” addresses has doubled since around mid-2016. It plateaued at just over 800,000 addresses during the last cycle peak but has increased during the cycle bottom of late 2022 and into 2023 as investors...Read More
Blockchain data analytics platform Glassnode revealed that there has been an “abrupt rotation of capital starting as FTX collapsed,” It added that coins have been transferred from long-term holders towards a new cohort of buyers. This change in hodl patterns has been seen in previous cycles and could be an “inflection point, suggesting a changing...Read More
Bitcoin prices gained almost 22% in March, rising from $23,450 to the end of the month at over $28,500. The big bullish candle has mirrored the one for January, setting up the next major move for the asset. On April 2, market analyst “The Birb Nest” said the monthly candle has induced an even more...Read More
Bitcoin is on the brink of re-emerging above $30,000 for the first time since June 2022. As excitement abounds, how are indicators looking for the asset both on and off chain?Crypto market intelligence platform Santiment recently analyzed some observable impacts and triggers of Bitcoin’s latest price moves, noting rising social volume and dominance compared to...Read More
There’s been a lot of talk about Bitcoin’s potential to one day reach $1 million per coin – possibly within the next few years. But is that a reasonable assumption? Here are the data points to consider when assessing Bitcoin’s likelihood of reaching seven figures. The Halving Cycle Bitcoin’s monetary issuance schedule is designed to...Read More
Despite fears surrounding the US banking sector, the Fed has followed through on its plans to quell inflation with an interest rate hike of 25 basis points on Wednesday. The decision notably affected the price of Bitcoin, which pumped $300 within 5 minutes of the announcement. Bitcoin started the day trading at $28,216, before rising...Read More
As Bitcoin returns to a 9-month high above $28,000, a growing number of on-chain signs show the asset may be entering an early bull market. On Monday, blockchain analytics firm Glassnode said the Bitcoin market “appears to be shifting gears” amid turmoil within the traditional banking system. Reclaiming Momentum According to the firm’s weekly report,...Read More
Markets are starting to price in an incoming Fed pivot as bank instability forces central banks to protect the financial system.Analysis from CryptoQuant analyst Cristian Palusi suggests that the liquidity crises now plaguing commercial banks may be a “long-awaited buy signal” for Bitcoin. Banks Down, Bitcoin Up In a post published on Thursday, Palusci noted...Read More
Ryan Selkis – CEO of the crypto intelligence firm Messari – believes there will be more negative events in the financial world in the near future, including bank crashes. He sees bitcoin acting as “a life raft and peaceful exit option” amid the calamity, predicting its price could soar to $100,000 in the next twelve...Read More
Bitcoin soared to a high of $26,514 on Tuesday, up 30% since crashing below $20,000 on Friday. What caused the king of crypto to rebound in such a spectacular fashion? Here are three possible reasons: Silicon Valley Bank’s Bailout Much of Bitcoin’s price trouble last week stemmed from uncertainty surrounding the crypto industry’s biggest banking...Read More
The past week has been wild altogether and not just in the cryptocurrency market. A major bank in the US – Silicon Valley Bank – experienced what was essentially a bank run and was forced to shut down by authorities to prevent further panic. The government, in the face of the Federal Reserve and the...Read More
BitMEX co-founder Arthur Hayes published an essay on Thursday outlining “realistic potential situations” that could make oil prices boom, and make Bitcoin’s price skyrocket as a result. The former CEO argued that such a scenario could spur central banks across the world – including the Federal Reserve – to return to a market-friendly loose monetary...Read More
Following an ultimately flat February, eager investors are curious: what’s in store for Bitcoin’s price this March? Here’s a look at how Bitcoin has performed each March over the last 12 years. On average, the asset’s price has risen by 10% each time. Bitcoin, March, and the Halving In its earliest days, March wasn’t a...Read More
Bitcoin prices remain in consolidation following a 42% rally off the cycle bottom this year, but on-chain metrics are hitting new highs. Despite the 2023 crypto market rally, Bitcoin remains down 66% from its all-time high of 69,000 in November 2021. Those that missed the cycle bottom of $16,500 in mid-November may still have opportunities...Read More
The past 24 hours have seen the entirety of the crypto market trade in the green as Bitcoin’s price reached a high of just around $25K. The last time BTC traded around this level was back in August 2022, and the market seems ecstatic. But why did Bitcoin pump? Mystery Bitcoin Whales Behind the Rally?...Read More
The Galaxy Digital founder and chief executive said he expects Bitcoin prices to reach $30,000 by the end of March. Speaking at a Bank of America conference on Feb. 15, Novogratz said: “When I look at the price action, when I look at the excitement of the customers calling, the FOMO building up, it wouldn’t...Read More
The United States Department of Labor outlined the inflation numbers for the first month of 2023, which were slightly different that the expectations. Bitcoin reacted with an immediate price drop that drove it from $21,900 to $21,600 in minutes. The US government announced the latest CPI numbers on February 14, indicating that the Consumer Price...Read More
Bitcoin fell back to $22,000 on Thursday shortly after the Securities and Exchange Commission (SEC) laid charges against Kraken for the unregistered offering of its staking services. Kraken agreed to halt the service and pay $30 million in disgorgement, prejudgment interest, and civil penalties, without admitting to or denying any wrongdoing. According to the SEC’s...Read More
BitMEX co-founder and macro-market analyst Arthur Hayes is deploying his dry powder into Bitcoin sooner than previously planned, according to his latest blog post. Hayes argued that despite his fears of a future crypto market retracement, there is still an opportunity to profit now from the ongoing risk asset rally that began last month. The...Read More
A study conducted by the financial consultancy firm – deVere Group – estimated that 82% of clients with over $1.2 million worth of investable assets sought advice on cryptocurrencies in the past 12 months. The significant interest came in spite of the broad market slump and the countless scandals and bankruptcies that happened in 2022....Read More
The popular Bitcoin price analyst Plan B has outlined a scenario that he predicts could propel Bitcoin’s price up to $1 million in the year 2025. At a minimum, he expects the asset to rise above $100,000 that year – over 300% above its current price. Return to the Bull Market In a video published...Read More
The price of bitcoin (BTC) in Nigeria has significantly increased beyond the global market valuation amid growing demand for the asset among citizens in the West African country. At the time of writing, BTC was trading at 17.5 million naira (approx. $38,005) on the leading Nigerian cryptocurrency exchange NairaEX. This means that Nigerians have to...Read More
Bitcoin prices have held onto recent gains this weekend, lifting to a new high for the year during the Monday morning Asian trading session. The move has placed another cohort of BTC buyers into the profit zone. According to Glassnode, those that bought Bitcoin in 2019 are back in the green again. The average withdrawal...Read More
The world’s largest economy just announced the GDP figures for the latest quarter of 2022, showing moderate but declining growth compared to Q3. Unlike most previous statements coming from the US, this one brought little-to-no immediate volatility to the crypto market, with BTC still standing above $23,000. The overall expectations ahead of the Q4 2022...Read More
