This week had been quite volatile, even for Bitcoin. After the primary cryptocurrency broke-up to the 2020 highs near $10.5K, followed by a quicker drop back below the same critical trend-line, BTC is left now at the same levels it was trading at for the majority of the past week. The bottom line is that...Read More
The inflow of Bitcoin to cryptocurrency exchanges more than quadrupled on June 2, when the Bitcoin price crossed above the $10,000 price range for the first time since February. Bitcoin Holders Trying to Sell at $10,000? Data courtesy of Glassnode reveals a sharp spike in the volume of Bitcoin transferred to exchanges during BTC’s rise...Read More
Co-Founder and CEO of Blockstream Adam Back believes that Bitcoin could reach $300,000 in five years due to the current economic situation worldwide. In an interview, he also refuted the recent claims that he is the mysterious person behind BTC – Satoshi Nakamoto. Bitcoin To $300,000 By 2025? In his recent interview with Bloomberg, the...Read More
The celebration of Bitcoin bulls for bringing the price above $10,000 was nothing but shortlived as the leading cryptocurrency collapsed to $8,500 in less than five minutes. Bitcoin Nosedives to $8,600 on BitMEX Those who have been involved in the cryptocurrency field long enough probably know that there’s rarely a dull day with Bitcoin. In...Read More
Recent data revealed that the number of Tether (USDT) transfers to cryptocurrency exchanges had reached an all-time high. Interestingly, this preceded the latest price increases within the cryptocurrency market. USDT Goes To Exchanges According to the data provided from the monitoring resource company, GlassNode, the number of Tether transfers to exchanges has been surging in...Read More
Bitcoin managed to break the psychological barrier of $10,000 hours ago. During the price surge, however, the leading US-based cryptocurrency exchange, Coinbase, experienced technical issues and was not functioning for about an hour, again. Bitcoin Up, Coinbase Down As CryptoPotato reported earlier today, the primary cryptocurrency finally broke the $10,000 resistance level after several consecutive...Read More
Cryptocurrency analyst and creator of Bitcoin’s stock-to-flow model, PlanB, recently noted that an indicator that historically precedes bullish momentum according to his model has now flashed. Per his initial prediction, the asset is targeting a total market cap of $1 trillion in the next few years. Bitcoin’s S2F Model The stock-to-flow model became an instant...Read More
Over the past days, the Bitcoin price is seeing only one direction, which is in favor of the Bulls. The coin that was trading for $8600 just five days ago is now aiming to re-target the $10K mark. However, will it be so easy? On our most recent BTC analysis from Friday, we pointed out...Read More
The University of Sussex recently published a paper regarding the performance of Bitcoin and gold during the COVID-19 pandemic. The research team behind the project believes that both assets failed to serve as safe-havens, primarily because of significant market manipulations. Bitcoin And Gold Failed In The 2020 Crisis? The sudden outbreak of the COVID-19 pandemic...Read More
Another week has passed, and it has been nothing short of exciting on the cryptocurrency market. Bitcoin went on to lose a serious chunk of its value as it plunged below $8,700 only to recover a few days later and touch $9,600. However, BTC is relatively indecisive over the past couple of days as it...Read More
Bitcoin Bitcoin saw a small 3% price increase over the past seven days as it currently trades around the $9,433 level. The cryptocurrency had started the week off by dropping beneath $9,000 and reaching the support at the rising trend line. Luckily, the buyers managed to defend this support to prevent BTC from slipping into...Read More
The past few days have been relatively exciting in the cryptocurrency market. Bitcoin managed to reclaim the $9,000 level but it appears that bulls might be running out of steam. At the same time, despite the fluctuations in its price, large-cap altcoins failed to make any serious advances as most of them remain more or...Read More
Popular cryptocurrency analyst believes that Bitcoin’s price is heading towards $7,200 based on an inverse Head and Shoulders pattern. Interestingly, if BTC is indeed trading within the inverse H&S, the breakout could hand Bitcoin a target of $16,000. BTC: $7,200 Followed By $16,000? The inverse head and shoulders technical pattern is identified when the price...Read More
Legacy markets have almost entirely recovered from their sharp downturn in the middle of March. It appears that the adverse effects of the novel coronavirus COVID-19 are well behind. Despite the doom-and-gloom predictions of many economists, major indices are going up steadily. The S&P 500 Down Just 10% From Its February Levels The S&P 500...Read More
Quick recap: A week ago, after failing to break the $10,000 benchmark, Bitcoin price had dropped back to the $9200 – $9300 support, where lied the critical ascending trend-line, the one that started developing since the March 12 price crash (colored blue on the following daily chart). Last Sunday, Bitcoin failed to hold the mentioned...Read More
Over the past two days, Bitcoin was trading between the range of $9200 – $9300. As we mentioned here on our previous BTC price analysis, that area had transformed from being stronger support to being even stronger resistance. We mentioned the fact that a failure in breaking above the mentioned area will result in a...Read More
The gap between Bitcoin’s hashrate and its mining difficulty has led to a miners capitulation – which could result in a major Bitcoin price dump. As pointed out by trader and popular YouTuber TheMoon, large discrepancies between hashrate and mining difficulty have typically resulted in a sudden departure of Bitcoin miners in the past. This,...Read More
The past 24 hours have been relatively calm for the leading cryptocurrencies by market capitalization. As of writing these lines, Bitcoin is trading today in a tight range around $9,200. From a technical standpoint, the range between $9,200 – $9,300 is the first significant resistance level for the primary cryptocurrency. If it breaks it successfully,...Read More
Upon printing billions of fresh USDT in the past few months, the most widely adopted stablecoin has become the third-largest cryptocurrency by market cap. Tether has now surpassed Ripple (XRP) with its nearly $9 billion market capitalization. In the meantime, Ripple, which was among the top three cryptocurrencies for the past years, had seen its...Read More
Following our Thursday price analysis, Bitcoin had lost almost $1000 in one and a half days. This came straight after 3-4 failed attempts to break the $10,000 mark over the past two weeks. When you’re not breaking, and the attempts are losing strength, you will dump hard. This was the bad news; however, the good...Read More
Bitcoin kissed the $10K mark goodbye this week as the cryptocurrency dropped to as low as $8,800 on Thursday, reaching the trend-line that was forming since the massive drop in March. As expected, BTC received strong support in that area, and its price quickly recovered to around $9,200, where it’s currently trading. The dump started...Read More
Bitcoin Bitcoin saw a 4.4% price decline over the past seven days of trading as the coin trades at $9,115. The cryptocurrency was at the $9,815 resistance level for the majority of the week as it continuously failed to close above it. Bitcoin went on to slide lower from there on Wednesday as it dropped...Read More
In our recent analysis from Tuesday, we had mentioned the fact that the attempts to break the $10,000 mark are getting weaker over time. In soccer, when you don’t score despite many chances, the other team will score and win. During the recent hours, Bitcoin was slowly losing momentum, and as of writing these lines,...Read More
Bitcoin’s price saw a sudden vicious flash crash on one of the most popular cryptocurrency exchanges – Bitstamp. The price lost upwards of $600 in a single candle that lasted less than a minute. Bitcoin Price Flash Crashes To $9,100 On Bitstamp There are no boring days with Bitcoin. Just a few minutes ago, the...Read More
An interesting Bitcoin transaction surfaced today, bringing back memories from 11 years ago in the distant 2009. 50 BTC mined back then were just transferred to another address. Bitcoin Mined in 2009 Just Transferred Data from Blockchair reveals that 50 bitcoins mined in 2009 were just transferred to an unknown address. The transaction took place...Read More
Over the past days, Bitcoin had gone through sideways price action, flirting with the range between $9500 and $9900. The breakout of the $10,000 target is remarkably close. However, it also feels close as well to a massive price dump. Remember, from a technical point of view, the fact that Bitcoin so far fails to...Read More
Bitcoin wakes up to a new week following a volatile weekend: After reaching down to $9100 on Friday, the following two weekend days were quite bullish for the primary cryptocurrency. Bitcoin regained position, and since the Friday’s low, the price had been climbing nicely to the same devastating resistance area below the $10,000 mark. However,...Read More
Bitcoin took another shot at $10,000 today as its price reached $9,960 on Binance. However, unlike the previous times, altcoins are looking to regain their strength as they managed to chip more than 1% of BTC’s dominance in the past few days. Bitcoin Price Takes Another Swing At $10,000 Volatility doesn’t seem to fade in...Read More
Over the past day or so, Bitcoin suffered from a massive price correction. After reaching the $10K zone for the second time in 10 days, Friday’s devastating candle saw a huge drop of over $800 to $9112, which is the current low on Bitstamp. If you had read our previous price analysis from Thursday, you...Read More
Bitcoin’s halving finally took place at block 630,000 on May 11th, 2020. Like many cryptocurrency enthusiasts and market participants pointed out, the block countdown felt much as if it’s New Year’s Eve. However, it’s already behind our backs, and the price has managed to add another $1,000 to it since then. In the four short...Read More
