Bitcoin Plunges $600 in 6 Minutes, Then Bounces Amid Price Surge

Bitcoin has seen an absurd amount of intraday volatility over the past day amid the best price action in many months. The coin currently trades for $12,900, a few hundred dollars shy of the daily and year-to-date high set just minutes ago at $13,250. Bitcoin plunged as low as $12,600 on futures platforms during that move lower. That meant from the daily highs, the cryptocurrency retraced $600. This volatility is expected as the cryptocurrency remains up around 9% in the past 24 hours, or over $1,000. Analysts are taking note…

Sellers Step In As Bitcoin Soars, But Could Lead To Short Squeeze Higher

Bitcoin price nearly hit $13,000 today after an almost $1,000 intraday candle tapped the remaining bear market resistance keeping new all-time highs at bay a little while longer. With so many traders in profit, short-sellers have stepped up in a major way, opening millions in positions betting big that the recent uptrend will soon reverse. However, with so much money on the line, a potential setup for an epic short squeeze could keep the cryptocurrency trucking right along – which these short sellers might actually be perfectly fine with. Here’s…

Bitcoin to Soon Form Signal Last Seen Prior to 2,000% Rally in 2017

Bitcoin has undergone a strong rally over the past few months. From the March lows, the cryptocurrency has gained over 200%, rallying from $3,500 to $11,700 now. While already impressive, the coin is about to form a pivotal buying signal that may suggest more upside is likely. The signal in question last formed when the cryptocurrency was trading under $1,000 at the end of 2016, prior to the 2017 exponential rally. Related Reading: Here’s Why Ethereum’s DeFi Market May Be Near A Bottom Bitcoin Forms Pivotal Buying Signal According to…

Here’s the Overlooked $8.5 Trillion Investor Group That Could Boost Bitcoin

Bitcoin has been seeing massive inflows of capital from large investors and corporations throughout 2020, which may be what has allowed its price to trade well above where it started the year – despite the turbulence seen in the early months. There’s a strong possibility that BTC will continue gaining adoption amongst non-retail investors in 2021 as well, with the trend of it being a reserve asset only gaining traction as more companies, funds, and large investors acquire it. Retail investors are also rapidly turning to Bitcoin to protect against…

Options Trends Makes it Hard for Analysts to Imagine a Bitcoin “Pump”

Bitcoin has been consolidating within a $1,500 range over the past seven weeks. With BTC currently pushing higher and the fundamentals aligning in favor of bulls, analysts have begun to expect a strong rally into the end of a year. This may not take place, though, an analyst keeping an eye on options has noted. He added that with whales likely to sell into the end of the year for tax purposes, BTC may not move higher. Related Reading: Here’s Why Ethereum’s DeFi Market May Be Near A Bottom Unlikely…

Bitcoin Likely to Break Below $11,000 Before Next Uptrend: Analyst

Bitcoin has been caught within a prolonged consolidation phase throughout the past few days and weeks, with buyers and sellers both being unable to take control of its near-term trend. This has done little to offer investors with insight into where it may trend next, and its close correlation to the U.S. stock market makes it likely that it will continue lacking a trend until either the election is finished or a second round of stimulus is passed through. This could be incredibly bearish for altcoins, as they have been…

Relative to Bitcoin, Gold “Fails” as a Store of Value

For many years, investors have been arguing if Bitcoin is better than gold. The leading cryptocurrency has long been dubbed “digital gold” because it has characteristics that many believe makes it a competitor or successor to the precious metal. According to one investment analyst and podcaster, BTC is better than gold for the simple reason that Bitcoin has a fixed supply while gold does not. Related Reading: Here’s Why Ethereum’s DeFi Market May Be Near A Bottom Why Bitcoin Is Better Than Gold The analyst, Preston Pysh recently explained his…

Crucial Bitcoin Signal That Formed Prior to $2,000 Crash Returns

Bitcoin has undergone a strong rally over the past 10 days, moving from $10,400 to a high near $11,750. As of this article’s writing, the coin trades for $11,400, far above those lows but still below those highs. While some see this price action as consolidation before another thrust higher, Bitcoin has formed a strong bearish signal after this rally. Some fear that it is a precursor to a strong move to the downside, or at least one suggesting BTC will sink back towards the $10,000s. Related Reading: Here’s Why…

Bitcoin’s Correlation to S&P 500 is “Concerningly High”

Bitcoin has been moving in close tandem with the stock market throughout the past few days and weeks, which has slowed its growth and caused it to see some turbulence. The stock market is currently in a consolidation trend as investors await progress on a second round of federal stimulus. It remains unclear as to whether or not this will come about before the election next month, but until it does, it is highly unlikely that the stock market will see any intense upwards momentum. One analytics firm is now…

“Be Scared” Going To Bed Without Spot Bitcoin Exposure

Bitcoin’s bull run could very well be here, but with the pandemic and the coming election, there’s so much risk in the air. However, one crypto trader says that they’d be more “scared” going to sleep at night without holding spot BTC at this point, than not. Here’s why the crypto trader claims that it’s a far more frightening nightmare to watch the bull market take off without you than risking a little downside. Investor Nightmare: “Be Scared” To Sleep On The Next Bitcoin Bull Run The run-up in 2017…