Over the past couple of months, there has been a lot of discussion around how the Bitcoin rally is currently being driven by whale traders and institutions. The inclusion of long-term hodlers also comes into the picture, but from the perspective of long-term growth, widespread adoption remains vital. Amidst the current rally, keeping track of...Read More
Over the past week, a couple of market contradictions shook the Bitcoin industry. After a rally that had been ongoing since Q4 of 2020, BTC finally recorded a weekly loss for the first time since September 2020. However, while the crypto-asset consolidated under the resistance level of $36,500 for a majority of the time, its...Read More
While most had high expectations from the crypto-market for the year 2021, it’s safe to say that the market has well and truly exceeded these expectations. Not only did the world’s largest cryptocurrency, Bitcoin, breach the $40,000-mark, but the industry’s cumulative market cap also went past $1 trillion. Source: CoinMarketCap The market and its largest...Read More
After a significant period of swing action, Bitcoin, at the time of writing, was finally consolidating near the $35,000-mark. This was a relief for many, especially since in the last 48 hours, the cryptocurrency’s price dropped from $41,000 to a lower range of $32,000. While some investors feared the worst, further drawdowns were not seen...Read More
The circulating supply of Bitcoin, at press time, was 18,591,375 ~ 18.6 million. That is close to 88.6% of the total supply. Now, even though each token is worth close to $31k, understanding the state of liquidity gives a better perspective of its value. According to Glassnode’s latest report, illiquidity is on a rise in...Read More
An interesting observation recently made by Willy Woo on the 18th of December 2020 was that over a period of 11.2 years, $1 invested in Gold appreciated to $1.82 whereas Bitcoin appreciated to $2,98,31,200. Now, there is enough literature associated with how Gold and Bitcoin are correlated and how the correlation drops periodically. However, this...Read More
American businessman and best-selling author of “Rich Dad Poor Dad,” Robert Kiyosaki, took to Twitter today to state that the oldest and leading cryptocurrency, Bitcoin as well as precious metals such as gold and silver, had a “bright future.” He also explained why he thought Bitcoin will soon be heading toward the $50,000 range in...Read More
With Bitcoin’s price trending closer to $20,000, on-chain analysts are suggesting that an upcoming correction may soon become inevitable. This is a strong possibility, despite the consistent buying and demand generation by institutions and whales. While retail/institutional traders may not be bearish just yet, according to popular on-chain analyst Willy Woo, “Bitcoin on-chain structure saying...Read More
After recovering from a drop of nearly 3.5% based on data from CoinMarketCap, many believe that there is little resistance to Bitcoin’s price climbing from $16K to a new ATH on the charts. However, while most people are concerned and excited about Bitcoin finally breaching its ATH, what seems to be lost on most is...Read More
Ever wondered what the classic bottleneck is? In the crypto-market, when Bitcoin’s price crosses a long-known resistance and the price rallies, CT is filled with bullish sentiment, bullish tweets, and bullish rants even. However, where is the entire picture? A trader’s perspective is a 360-degree one. That, alas, is often lost around the noise that...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
Since Bitcoin (BTC) started to collapse in July following the multi-month rally from $3,100 to $14,000, investors have been wondering if the cryptocurrency remains in a bull market. According to a prominent on-chain analyst and cryptocurrency fund manager, yes, Bitcoin remains in the midst of a bull market.Related Reading: Prominent Gold Bull Thinks the Next Recession...Read More
Bitcoin (BTC) has been absolutely hammered over the past two days. In fact, some 36 hours ago, it was trading at $10,200; now, the cryptocurrency is sitting snug at $9,500.Related Reading: Altcoin Market Is Failing to Produce Utility, Only Bitcoin Can Become MoneyThis dramatic sell-off, which comes after the cryptocurrency traded in the low-$10,000s for...Read More
