Category: Bitcoin Analysis

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…

Bitcoin Just Set New Post-2017 Highs, and Analysts Expect Further Upside

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Bitcoin has been caught within one of the strongest and longest-lasting uptrends seen since late-2017, with the cryptocurrency rallying to highs of $15,300 today while showing few signs of slowing down anytime soon. This uptrend’s intensity comes as the global markets breathe a sigh of relief as the elections in the U.S. begin winding down. Although the results remain unknown, the balance of the House and Senate is widely expected to make the next four years relatively uneventful regardless of who wins the Presidency. The cryptocurrency is now just a…

Wall Street Veteran Mike Novogratz Says Bitcoin Is In a Bull Market

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Bitcoin has seen a rapid rally over the past few weeks after falling as low as $9,800. Bulls rapidly bid that bottom as the market printed sub-five digit prices for the first time in many weeks. The cryptocurrency now trades at $14,300, even in the face of bearish news events such as OKEx shutting down withdrawals and the $200 million hack of the crypto exchange Kucoin. Mike Novogratz, CEO of Galaxy Digital and a former Goldman Sachs partner, is now convinced that Bitcoin is in a bull market. Of note,…

Bitcoin Price Spikes Higher On Election Day Uncertainty, Aims For $14K

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Bitcoin price has remained resilient in the face of plenty of negative news, and not even the uncertainty and anxiety surrounding the pivotal US election can dent the cryptocurrency’s ongoing bullish momentum. Even with investor emotions running higher than ever today, the leading cryptocurrency by market cap won’t stop climbing and is once again heading toward $14,000 in a fury. Will this time Bitcoin hold above the resistance level? Election Day 2020: Bitcoin Aims For Yet Another New Yearly High Bitcoin price just blasted above $13,500 and is now well…

Bitcoin Trade Setup on US Election Day; Boom or Bust Ahead?

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A modest price rebound in the Bitcoin market reversed in the hours before the New York opening bell Tuesday. The benchmark cryptocurrency was trading at $13,605 when the sell-off started. A closer look at its hourly chart hinted that the pullback was technical. Bulls attempted to close the Bitcoin price above a short-term descending trendline that holds a history of repelling upside attempts. The fractal worked, causing the cryptocurrency to flip directions. And now, when it heads into the US session, the prospects of it heading further lower is increasing.…

Bitcoin’s Retrace Could Inject Fuel into the Altcoin Market, Igniting a Rally

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Bitcoin is currently in the process of retracing following a rejection at highs of $14,100 that were set this past week. Although bulls had found stability around $13,800 following the rally to these highs, they have not been able to guard against massive inflows of selling pressure that has come about throughout the past few hours. This selling pressure has been quite significant and may continue mounting if the crypto cannot post a strong defense of the lower-$13,000 region. One analyst is now noting that November could be the month…

Bitcoin Price Sinks $6% From Weekend Highs As Election Day Approaches

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Bitcoin price set a new higher high this weekend at over $14,000 and closed the highest monthly candle since December 2017, leaving just one higher monthly close to beat. However, before that could happen, the leading cryptocurrency by market cap has been dragged down by pre-election uncertainty, and it could make for a rocky ride in the days ahead. US Election Week Proves Too Uncertain For Crypto Bulls, Bitcoin Dives 6% Bitcoin has shocked the world and more specifically, Wall Street, with its enormous year-to-date returns in the face of…

Top Analyst Explains Why Ethereum Could Outperform Bitcoin This Cycle

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Ethereum has strongly underperformed Bitcoin over the past two weeks. As BTC has shot around 20% higher in the past 10 days alone, ETH has gained approximately 8%. This trend is not isolated: almost all leading altcoins are underperforming Bitcoin. The severity of BTC’s spike to the upside has compressed gains in altcoins as all focus and capital is focused on Bitcoin. While some think this will be a fixture of this cycle, a prominent crypto-asset analyst recently made the case for why Ethereum may outperform Bitcoin all this cycle.…