Bitcoin sits well below $12,000 after its failure to breach the said psychological level. There are multiple factors acting in sync that has led to this particular outcome of bitcoin sliding lower. BTCUSD TradingView From the weekly chart, it can be seen that bitcoin’s $12,473 was the local top and also the monthly resistance. $12,473...Read More
Bitcoin sliding under $12,000 wasn’t surprising considering the number of failed taps at it. While this retracement is a healthy correction, it is uncertain to accurately predict what might happen in the future. However, there are theories and models that try to do exactly that. Bitcoin Four-Year Cycle Source: Twitter For instance, the “four-year cycle...Read More
“Extraordinary claims require extraordinary evidence” This is the Sagan Standard, an aphorism made popular by astrophysicist Carl Sagan via Cosmos. It’s a pithy observation, one that applies to not just the greater realms of Science, but also to Bitcoin and the rest of the cryptocurrency market. This is especially so when it comes to an...Read More
In the past six months, the pandemic has gripped the world economy. Companies are going out of business, governments and banks have bleak projections for 2020-21 and are comparing the current financial meltdown to the great depression. Despite this, it has played out counterintuitively for the global financial markets. S&P 500 broke records hitting an...Read More
If you had purchased $1000 worth of Bitcoin (0.13BTC) on 1 January 2020, it would be worth $1509.10 today. On the contrary, an investment of $1000 in Gold on the same day (0.65 oz) would be worth only $1277.10 today. Furthermore, if you had purchased $1000 worth of Bitcoin in 2013, your investment would be...Read More
When trading, many of the market’s traders have often observed a low correlation between Bitcoin and other global financial assets. That is interesting, but not unexpected since as a prospective store of value candidate it is supposed to be uncorrelated to a great degree. Here, it must be noted, however, that the correlation tends to...Read More
After having remained below the $10k-mark for a long time, Bitcoin’s price was able to overcome the resistance, before briefly surging past $12k recently. While Bitcoin did note a minor correction on the charts over the last few days, the coin’s price action remained promising. At the start of the year, most commentators had agreed...Read More
Bitcoin has emerged to become synonymous with cryptocurrencies, especially to people who are new to the field. Often on introduction to Bitcoin, there have been many direct comparisons with traditional assets and precious metals. After nearly a decade of existence, Bitcoin seems to be proving itself to be a safe-haven asset. However, shouldn’t it be...Read More
Disclaimer: The findings of the following article should not be taken as investment advice as it is strictly the opinion of the writer. These findings should materialize within the next 24-48 hours. Bitcoin rejoiced when it breached $12,000 to touch $12,400. However, such relief was very short-lived as soon, a massive correction of $1000 pulled...Read More
The value of Bitcoin was noting a surge of 62% in YTD, with the world’s largest digital asset being traded at $11,767, at the time of writing. With the cryptocurrency climbing on the charts, it has grabbed the attention of investors and traders across the board, many of whom are expecting a major bull run...Read More
As of Tuesday, bitcoin hashrate dropped by 25% due to massive landslides in Sichuan province. The landslides caused by heavy downpour caused the Sichaun province to trigger a Level I response, the highest in its tier four-tier emergency response system. Bitcoin mining and Sichuan province With bitcoin successfully breaching the $12,000 level, things seemed to be...Read More
Once upon a time, Bitcoin‘s shadow was so overwhelming that many of the market’s altcoins failed to get the attention they deserved. Over the last few months, however, this narrative has steadily changed. While Bitcoin still maintains its superiority as the world’s largest and most-favored digital asset, other altcoins such as Ethereum, Chainlink, and Cardano...Read More
If you were to use one word to describe the Bitcoin market right now, it would be “strong.” For the past three weeks, the world’s largest cryptocurrency has been trading at a level over $10,000, a feat it has managed only 14 times since the 2017 bull run. Prior to this run, Bitcoin was in...Read More
Every time Bitcoin moves up or notes a consolidation, there’s the question of a sell-off. Since the cryptocurrency markets are so volatile, you can’t blame traders or even investors for cashing in their investments at a significant profit. The current market is no different. According to data from Chainalysis Markets, inklings of a sell-off are...Read More
Bitcoin’s struggle to breach the $12,000-mark is as real as it gets. The level in question has been tapped a few times and even breached once, however, even after these developments, Bitcoin continued to remain under $12,000. This is unlike the rally in April 2019, a time when Bitcoin faced no issues in pushing past...Read More
How do we know we are in a bull run? Early 2017 did not show signs of what could occur by the end of 2017. However, bitcoin and the crypto ecosystem seems to be already in the bull run. Bitcoin has, briefly, breached the $12,000 level, however, failed to sustain it. Regardless, the bullish feeling...Read More
Bitcoin was trading at $11,800 and showed signs of heading lower due to the formation of a bearish pattern. While some altcoins have seen a good surge in the last 24 hours, some haven’t been so lucky. BTC falls under the latter category with a 0.68% decline. Bitcoin 4-hour chart BTCUSD TradingView From the above...Read More
The case of the ‘hodling of Bitcoin’ is a curious one. At first, it would seem that those who would be more inclined to hodl the cryptocurrency would be average everyday people who heard about it before the 2017 bull-run, and not the corner-office institutions who jumped in only after 2018, but reality is quite...Read More
How does one identify if a market is healthy or not? Well, that is a question with no right or even one answer. What can be expanded upon here, however, is the nature and attitude of the investor class – a crucial characteristic of a healthy market. How has that changed over the years and...Read More
If one were to take a survey, chances are that most would agree that the last few weeks and months have been pretty good for the cryptocurrency market. Bitcoin, and with it, the rest of the crypto-market, seem to be on the up, with the memories of Black Thursday well behind it. However, that’s not...Read More
Bitcoin is now trading close to $12,000, a level which it breached and broke below two times over the past two weeks. Will it be third time lucky for the world’s top cryptocurrency? Since breaking over $12,000 on 2 August, for the first time since June 2019, it has been subject to a ‘bull trap.’...Read More
With Bitcoin once again inching closer and closer to $12,000, some are hopeful of the rise while others are fearful of a fall. Depending on which side of this equation you’re on, you’re either a hodler or a seller. Each side has an equal tug on the market as while hodlers are hodling on expecting...Read More
As the largest cryptocurrency in the market, Bitcoin has been an important asset for traders. As soon as the coin broke out of its dormant stage, the BTC market saw interest flooding into the market. However, Bitcoin’s spot market has been losing a lot of volume over the past week, largely owing to the fact...Read More
Bitcoin has been around for over a decade now and one of its key features that solved the double-spend problem was its consensus algorithm – Proof of Work. Since then, however, PoW has come under increased scrutiny from many camps and with the likes of Ethereum transitioning towards Proof of Stake, there are many who...Read More
Disclaimer: The findings of the following article should materialize over the next few hours. Also, the following information should not be considered as investment advice Bitcoin’s decline down to $11,133 on 11 August damaged its consolidation above its previous support line at $11,618. The downtrend was significant, dropping down from a high of $18,410, all...Read More
Last week, when Arcane Research reported that the number of Bitcoin transactions going up was not met by high transaction fees on-chain, people shifted their attention to SegWit. It was soon found that SegWit usage in 2020 is becoming popular again and 65 percent of the transactions are using digital signatures. It was a monumental...Read More
We are currently part of an unusual Bitcoin rally. Unlike Ethereum, Bitcoin hasn’t surpassed its highs from 2019. It hasn’t even come close, to be fair. However, many in the community remain bullish about Bitcoin only because it is not dropping from its yearly-high levels. As simple as that. At press time, the world’s largest...Read More
Bitcoin’s recent burst past $12,000 was unlike the first, and is potentially a sign of things to come. Over a week ago, on 2 August, when Bitcoin rose past $12,000 for the first time since June 2019, its price dropped by 8 percent within the hour. The rapid rise tested a bull trap where trigger...Read More
Bitcoin has been termed as many things, an uncorrelated asset, diversification for portfolios, a bubble, etc. However, with the Coronavirus pandemic still affecting world markets, the narrative has evolved yet again. The sudden halt of supply chains and industries has caused irreparable damage to the economy of most countries. In India, Reserve Bank of India...Read More
The last few weeks have been good for Bitcoin, and by extension, the cryptocurrency space. Sure, the world’s largest cryptocurrency finally surged on the charts to give much-needed relief to its investors, but that wasn’t all. With every passing day, cryptocurrencies are being legitimized as an “asset class,” and mainstream institutions are finally playing a...Read More
