As bitcoin dropped to a monthly low at $39,000 after a few days of consolidating above the $40,000 mark, there was a growing bearish sentiment regarding its immediate price action. When the bears came out to push bitcoin south, dipping into the 37K – 40K area, some considered it an excellent opportunity to accumulate. High...Read More
PlanB, the creator of the bitcoin Stock-to-Flow (S2F) model, implied that only a black-swan incident could drag the price of Bitcoin down to $24,500. The anonymous Twitter pseudonym in the past has missed Bitcoin’s price predictions on some occasions, but his bullishness on the asset still remains intact, asserting that it could reach $100K at...Read More
The Luna Foundation Guard (LFG) pool has bought Bitcoin yet again. The pool currently holds almost 40,000 BTC, worth some $1.675 billion at the time of this writing. Luna’s LFG pool has added another batch of Bitcoin to its stash – over 4,000 BTC, to be precise, which is worth some $176 million at the...Read More
According to the global investment manager Van Eck, the prices of bitcoin and gold could skyrocket to record highs if fiat currencies lose their dominance. Specifically, BTC could start trading between $1,300,000 and $4,800,000, while the yellow metal could tap $31,000 per ounce. Bitcoin’s Price if it Replaces Fiat It is safe to say that...Read More
Despite the recent turbulence in the cryptocurrency market, Pantera Capital envisioned a surge in bitcoin’s price in the following weeks. According to the investment firm, ‘Tax Day’ could be one of the propellers. Moreover, the cryptocurrency industry might soon separate from traditional financial markets and start trading independently, the company added. Light in The Tunnel...Read More
The broader cryptocurrency market saw a considerable recovery over the past hours following yesterday’s bloodbath that came in response to Russia invading Ukraine. Bitcoin managed to recover about $4,000 of its value, but it appears that popular retail trading platform Robinhood went through some challenges in this regard. Several people took it to Twitter today...Read More
Amid international crises and a shaky crypto market, debates rage on about what role Bitcoin actually serves as an investment. Is it digital gold, or just another risk asset? In a recent tweet, Ki Young Ju – CEO of crypto market analytics firm CryptoQuant – weighed in on the matter. He believes that as long...Read More
The latest enhanced volatility in the cryptocurrency market caused significant pain for over-leveraged investors, with liquidations exceeding $400 million on a 24-hour scale. This comes as BTC slumped by about $3,000 in a day. It’s safe to say that the cryptocurrency landscape has seen better days as roughly $400 billion has been evaporated from the...Read More
Huobi co-founder Du Jun does not believe there will be another crypto bull market until the end of 2024 or early 2025. Speaking to CNBC over the weekend, he said that judging by past market cycles, there may not be another one for around three years. He said that “we are now at the early...Read More
Bitcoin is heading towards $100,000 by the end of next year, according to both the stock-to-flow model and the logarithmic regression, asserted the man behind them – PlanB. This comes despite the recent failures of the S2F and the analyst’s “worst-case scenario.” $100K per BTC in 2023? PlanB, the anonymous Twitter pseudonym behind the popular...Read More
According to JPMorgan Chase strategists led by Nikolaos Panigirtzoglou, Bitcoin’s “fair value” should be 12% lower than its actual price. In their opinion, the cryptocurrency is currently overpriced and its fair value should be around $38,000. The figure is based on the premise that BTC is around four times more volatile than gold, according to...Read More
Traders are once again hoping for a bullish run as a fresh slash of green spread across the entire crypto market. Interestingly, the 50-DMA indicator shows that the cryptocurrency might be in a good shape for further gains. Bitcoin surged to $45,500 today for the first time since January 5th as the cryptocurrency market managed...Read More
According to recent figures, the U.S. added 467,000 new jobs in January alone, despite worries about Omicron leaving various businesses short-staffed. Bitcoin traded slightly lower following the reveal. A Surprisingly Strong Labor Market The recent employment figures were published in a report by the US Labor Department’s Bureau of Labor Statistics earlier today. While total...Read More
Arthur Hayes – co-founder of BitMEX – just gave an interesting Bitcoin price forecast in his bi-weekly analysis. Despite his expectations that the Federal Reserve won’t raise interest rates, he still doubts Bitcoin’s bottom will arrive until a $28,500 retest. Calling the Fed’s Bluff In BitMEX’s latest post from Crypto Trader Digest titled “Bottomless,” the...Read More
It’s been less than half a year since El Salvador’s bitcoin experiment began. So far, though, it’s not going as well as the small Central American nation has hoped, at least in terms of its investments in the cryptocurrency. El Salvador’s Historic Bitcoin Endeavor It’s safe to say that El Salvador and its president Nayib...Read More
The recent market correction doesn’t seem to be a one-day thing, as the entire crypto space is covered in red once more. Consequently, over-leveraged traders continue to get liquidated with almost $700 million in hours. CryptoPotato reported yesterday’s market crash in which bitcoin dumped by $5,000 in a day to a six-month low at $38,000....Read More
The enhanced volatility in the digital asset space hit again in the past few days, and the total amount of daily liquidations jumped to half a billion. It’s safe to say that the cryptocurrency market has seen better days. Bitcoin, for example, traded around $47,000 for several consecutive days until 36 hours ago. At that...Read More
While the recent plunge has put the crypto community into a state of panic, one HODLer is taking advantage. The third-largest Bitcoin whale just bought the dip, putting his stack over 121,000 BTC. On January 4th, the whale’s address added another 372 Bitcoin. The sum was purchased for $17,122,242.1 at the time. This was a...Read More
Hong Kong’s Bitcoin Association was one of the first to celebrate Genesis Day as Asian markets awoke to begin the first trading week of 2022. The Association also added that it would be a good time to make sure that your Bitcoin is in a wallet that you control, referring to both public and private...Read More
Nayib Bukele, who made history last year by becoming the first President to adopt bitcoin as legal tender, believes two more countries will follow this example in 2022. Additionally, he predicted a price tag of $100,000 for the primary cryptocurrency. It’s safe to say that El Salvador is the most open country in terms of...Read More
Although bitcoin ended up with a more than 60% increase in 2021, there was a bit of a disappointment in the crypto space. This is because the asset failed to increase into a six-digit territory and actually fell by 30% in less than two months. The creator of the popular stock-to-flow model, though, initiated a...Read More
Bitcoin’s price could surge to a five-digit territory next year and even briefly touch $200,000 due to the global economic situation, asserted the co-founder of Block.One and former US presidential candidate – Brock Pierce. He also believes regulations could help the cryptocurrency space but only if they are incorporated following thorough research. BTC to $200K...Read More
Mike Novogratz – CEO of Galaxy Investment Partners – recently gave his thoughts on Bitcoin’s price volatility going forwards. Here’s what he had to say. On CNBC’s Squawk Box, Joe Kernen pointed out to Novogratz that Bitcoin is up 66% on the year, yet down 30% from its high of $69k. He then asked if...Read More
El Salvador continues to accumulate BTC, and the country’s president is using different occasions as an excuse to do so, including to celebrate December 21st, 2021. The president of El Salvador, Nayib Bukele – a well-known Bitcoin bull who was the leading figure in turning the cryptocurrency into a government-regulated and recognized legal tender in...Read More
Although bitcoin is already more than 30% down from its ATH marked last month, Peter Brandt believes that the asset might not have reached its bottom yet. The CEO of Factor LLC noted that there hasn’t been a high volume panic capitulation yet to outline that bottom as with previous corrections. Bitcoin Is Yet to...Read More
Bitcoin is soaring against the Turkish Lira – but not due to increased demand. Rather, low-interest rates are causing the nation’s currency to rapidly decline, lowering its value against Bitcoin, dollars, and other currencies/ assets. The Turkish Lira Tumbles As reported by Reuters, the Lira dropped by another 5.6% against the dollar on Thursday. This...Read More
Last year’s Christmas run-up was one of bitcoin’s most bullish periods as the asset gained 50% of value at the end of December. With the uncertainties around the most recent Fed meeting over now, the question arises if BTC can do it again. The 2020 Christmas Rally 2020 was a wild year from all perspectives,...Read More
Bitcoin ended the month of November down 7% but hedge funds with a more diverse portfolio of cryptocurrencies only dropped 2% for the period according to the Eurekahedge Crypto-Currency Hedge Fund Index. According to Bloomberg, the outperformance may suggest that altcoins could offer investors better returns than Bitcoin which has currently fallen 29% from its...Read More
The Bitcoin (BTC) market looks tepid as it heads towards the end of 2021. While CoinMarketCap’s early Christmas cheer turned out to be a glitch, the regulators wrestling to bring the $2.2 trillion market under government oversight has further delayed the chances of a potential relief rally. With only a fortnight left, Bitcoin predictions are...Read More
Bitcoin prices hit a ten-day low of just below $46,000 during the Tuesday morning Asian trading session. The asset now sits on solid support at the 200-day moving average and needs to maintain this level to prevent another painful decline. BTC has lost around 30% from its Nov. 10 all-time high, but it is not...Read More
