Category: Bitcoin Analysis

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

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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”

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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

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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…

TD Buy Trigger Could Cause XRP To Rip Against Bitcoin

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Bitcoin has recently been picking up steam, stealing some of the capital and thunder from the DeFi trend and Ethereum. XRP, however, continues to lag behind both top crypto assets and linger sideways. According to the Bitcoin trading pair, however, Ripple could soon rip against the leading cryptocurrency by market cap and catch up against Ethereum after long trailing behind. TD 9 Buy Setup Prepares Ripple For Recovery Against Bitcoin And Ethereum, Revenge Against Tether Believe it or not, there was once a time when XRP had unseated Ethereum as…

Bitcoin in a Precarious Position Following OKEx-Induced Selloff

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Bitcoin’s price action has been incredibly lackluster throughout the past few days and weeks Bulls and bears have both reached an impasse, which comes despite there being a flurry of both bullish and bearish news Throughout the past few weeks, bulls have been able to dodge any sustained declines resulting from news surrounding the CFTC’s charges against the BitMEX co-founders as well as a $150m KuCoin hack Bullish developments surrounding companies like Square buying BTC has helped negate the impacts of these bearish events Another potentially impactful event that is…

TA: Bitcoin is Showing Early Signs of Fresh Increase, But $10.6K Is The Hurdle

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Bitcoin price started a fresh increase from the $11,260 low against the US Dollar. BTC must settle above $11,600 to continue higher towards $11,800 and $12,000. Bitcoin is showing a few positive signs above the $11,450 and $11,500 levels. The price is currently facing hurdles near $11,560, but it is above the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $11,450 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a steady upward…

Coinbase Builds Into Bitcoin Ecosystem With Dev Grants, Wrapped BTC

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San Francisco-based cryptocurrency exchange Coinbase has revealed two separate contributions to the Bitcoin ecosystem today. Here’s how the top crypto platform plans to boost the future of the first-ever cryptocurrency and make it more accessible, flexible, and DeFi-ready. Coinbase Ready To Award Duo Of Grants To Bitcoin Core Developers Coinbase and its CEO Brian Armstrong has in the past been criticized for bypassing Bitcoin to instead promote altcoins. But the cryptocurrency exchange today announced it is offering two grants from its Crypto Community Fund to developers that work on the…

There May Soon Be a Bitcoin “Shortage” Amid Institutional Adoption

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Bitcoin has stagnated over recent weeks and months after peaking at $12,500 in August. The leading cryptocurrency currently trades at $11,450, stuck in the middle of the range between $10,000 and $12,500. Throughout this, institutions have increased their exposure to Bitcoin en-masse, with tens of thousands of coins being accumulated. A prominent macro thinker and gold bull thinks that this may mean that there may soon be a Bitcoin “shortage.” This shortage will likely drive prices higher as demand for BTC outweighs the market supply, which is only compounded by…

Bitcoin Price Dives $150 in Minutes as Volatility Persists

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Bitcoin market volatility has persisted as the U.S. dollar continues to swing back and forth as the market attempts to determine the odds of a fiscal stimulus package. The leading cryptocurrency recently plunged $150 in a manner of minutes as the U.S. dollar rapidly jumped higher in an odd bout of price action. The futures market has felt this volatility, with derivatives tracker reporting millions of dollars worth of liquidations. Related Reading: Here’s Why Ethereum’s DeFi Market May Be Near A Bottom Bitcoin Sees Strong Market Volatility Bitcoin has exhibited…

Bitcoin Sell-Off Accelerates amid US Stock Downtrend; Crash Ahead?

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Bitcoin (BTC) dropped lower on Thursday, with dimming stimulus hopes and a resurgence in the coronavirus cases in the US and Europe casting doubts over the global economic recovery. The BTC/USD exchange rate established an intraday low at $11,263 as of around 0900 UTC, suggesting that it could correct further lower in the US trading session ahead. The catalyst behind the pair’s dip was a stronger US dollar that picked up strength after US Treasury Secretary Stephen Mnuchin shattered hopes of finalizing the second stimulus relief bill before the presidential…