Category: Bitcoin Analysis

Bitcoin Just Passed $37k—and Analysts Say the Bottom May Be In

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Bitcoin has undergone an extreme rally over the past day, surging from the $33,000 region past $37,000 as of this article’s writing. The cryptocurrency now sits above $37,000 for the first time since the weekend and is up 10% in the past day’s trading session. The cryptocurrency is outperforming altcoins in this move higher. While Bitcoin has gained 10% in the past day’s trading session, altcoins such as Ethereum and XRP are only up 3-5%. Related Reading: Wall Street Veteran Kickstarts Own Bitcoin Fund With $25m Investment The Bitcoin Bottom…

Bitcoin Just Recovered to $35,000 After Yesterday’s 25% Crash

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Bitcoin is ripping higher despite yesterday’s correction. The cryptocurrency plunged as low as $30,000 yesterday as buying selling rapidly picked up on platforms such as Coinbase, analysts said. This came after Bitcoin peaked at $42,000 late last week. While Bitcoin is not yet in the clear on a short-term time frame, analysts are starting to think that the bottom is in after key technical signs appear. Related Reading: Wall Street Veteran Kickstarts Own Bitcoin Fund With $25m Investment On-Chain Trends Still Bullish for Bitcoin Aleks Larsen, a venture investor at…

IPO Windfalls from Airbnb Could Boost Bitcoin: DCG CEO

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Aside from MicroStrategy raising $650 million for Bitcoin this past week, one of the biggest news on financial Twitter was the Airbnb IPO. After months and even years of anticipation, the global peer-to-peer rental service went public on the stock market. While this came in the middle of a pandemic when the firm’s profits are slipping, the markets bid it higher anyway. Airbnb’s stock, ABNB reached a $100 billion valuation just after it began trading. Further, the shares now trade for $139, despite the IPO closing at $68 per share.…

Bitcoin Bounces Toward $18,400 as MassMutual Unveils $100m BTC Purchase

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Bitcoin underwent a strong plunge yesterday evening to $17,700. The cryptocurrency crashed as the stock market faced a correction and as the U.S. dollar showed a bit of strength after a brutal showing over the past few weeks. But, BTC is already bouncing back. After falling to those lows, the cryptocurrency has bounced toward $18,400 as of this article’s writing. This bounce comes on the news that a large American insurance company has purchased Bitcoin to diversify its portfolio. Related Reading: Here’s Why Ethereum’s DeFi Market May Be Near A…

Bitcoin Surges After Bulls Defend Key Level; What Analysts are Watching For

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Bitcoin is in the process of pushing higher today, with bulls aiming at sending the cryptocurrency up towards the resistance that it has long faced within the mid-to-upper $19,000 region. If the selling pressure here remains constant and continues hampering the cryptocurrency’s growth, then bears may be poised to gain some control over BTC’s price action and send it reeling down towards $18,000 once again. Where it trends in the mid-term will depend largely on whether or not it can maintain the trend of setting higher-lows after each rejection around its…

Bitcoin is Smashing Records But There’s No Hint Of Retail FOMO

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Bears are circling as bitcoin hit all time highs again on Tuesday. Is this 2017 all over again? Google data shows no hint of retail FOMO in BTC/USD. Bitcoin hit multiple record highs this week, prompting “FOMO” or “fear of missing out” calls from some analysts. If there is euphoria in the crypto market it’s not coming from the retail crowd; making this move nothing like 2017. Bitcoin Races To Record As Bears Cry FOMO Although there is no such thing as one all-time high for bitcoin (as prices vary…

The Dow Jones & Bitcoin Are Smashing Records Thanks To One Woman

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Both the Dow Jones and Bitcoin pushed are pushing to all-time highs. How can these two opposing asset classes be rising in tandem? It all comes down to one of Joe Biden’s newest cabinet picks. One is the most mainstream investment vehicle there is, the other a futuristic cryptocurrency used as a means to escape from the constraints of central banks and “Big Finance”. Here’s how one woman, Janet Yellen, has the Dow Jones and Bitcoin soaring in perfect unison- for totally different reasons. Dow 30,000 As Bitcoin Nears $20,000…

It Isn’t Too Late to Buy Bitcoin

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Bitcoin is exploding higher after days of consolidation under $19,000. The leading cryptocurrency as of this article’s writing is in the midst of shooting toward previous all-time highs. Bitcoin currently trades for $19,400, which is the highest it has traded since the late 2017 highs. BTC has a few percent to move to the upside before it is to actually set a new all-time high, though many are confident it will happen soon. Despite the strong rally of 70% in the past five or six weeks, many don’t think it…

Here’s Where a “Bitcoin Bear Whale” Has Put Up a Massive Sell Wall

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Bitcoin’s price action as of late has greatly favored buyers, with the cryptocurrency being caught within the throes of an intense bout of sideways trading just below $19,000 as buyers try to garner enough buy-side pressure to break through this level. The selling pressure here has been intense, but it has yet to catalyze any type of intense selloff throughout the past few days. This seems to point to immense underlying strength amongst buyers and may indicate that near-term upside is imminent. If bulls can break above this level, they…

Bitcoin Almost Taps $16,000 as Price Explodes 15% in 24 Hours

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Bitcoin has continued to explode higher in the face of a further drop in the U.S. dollar. The price of the leading cryptocurrency has almost reached $16,000, as it currently trades for $15,970 on leading spot exchanges. This price surge is resulting in a number of interesting trends in the Bitcoin market, namely a dislocation of prices between the futures market and the spot market. Futures markets are now lagging the spot market, though there are also some spot markets that are strongly lagging other spot markets. The last time…