Category: Bitcoin

Bitcoin Price Could Top In Short Term, Why Dips Might Be Attractive

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Bitcoin price is still struggling to clear the $21,500 resistance zone. BTC could correct further lower if there is a clear move below the $20,500 support zone. Bitcoin struggled to clear the $21,500 resistance zone and corrected lower. The price is trading below $21,000 and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $21,150 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to move down below the $20,650 and $20,500 support…

Developers soured on Bitcoin over the last year. Here’s why that matters

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Crypto prices suffered badly in 2022, but developer activity for the year paints a more optimistic picture for investors. New data published by Electric Capital Tuesday shows Ethereum had the largest number of full-time developers in 2022 at 1,873, as of Dec. 15. That puts developer growth at 9% for the year, the report showed, even as the price of ether dropped 67%, according to Coin Metrics. Ethereum rivals like Polkadot and Solana followed closely behind, showing growth of 9% and 36%, respectively. For Solana, that growth came despite the…

Bitcoin Price Struggles Above $17K, Why BTC Is Still In Bullish Zone

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Bitcoin price extended its rise and traded towards $17,400. BTC is correcting gains, but it remains well supported near the $17,000 zone. Bitcoin extended its increase above the $17,000 and $17,200 resistance levels. The price is trading above $17,000 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $16,880 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could rise further if it stays above the $17,000 support and the trend line. Bitcoin Price Extends Increase…

Why Bitcoin volatility falling to lows this week might be bad news

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Bitcoin’s volatility fell near an all-time low this week, and while the stillness of the price action these past couple months may be welcome, investors may not want it to last forever. Volatility has always been a key characteristic of the cryptocurrency. Lately, some investors have been comforted to see bitcoin react less to volatile macroeconomic events, especially as the stock market stayed highly sensitive to them. On top of that, bitcoin has been relatively stable in the wake of the FTX implosion, aside from an initial decline when the…

Bitcoin Price Jumps To $17K and Prints Bullish Continuation Signal

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Bitcoin price climbed higher above the $16,800 resistance. BTC could rise further if it clears the $17,000 and $17,050 levels. Bitcoin is slowly moving higher above the $16,800 and $16,850 resistance levels. The price is trading above $16,700 and the 100 hourly simple moving average. There is a major bullish trend line forming with support near $16,700 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could rise steadily if there is a close above the $17,000 resistance. Bitcoin Price Climbs Higher Bitcoin price remained…

Bitcoin Price Consolidates In Key Range, What Could Trigger Next Move

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Bitcoin price is still facing resistance below $17,000. BTC could decline heavily if there is a clear move below the $16,000 support zone. Bitcoin is still showing bearish signs below the $16,800 and $17,000 resistance levels. The price is trading above $16,500 and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $16,550 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could resume its decline if there is a clear move below the $16,000…

Bitcoin has a big opportunity in payments despite steep 2022 decline

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Investors are constantly reminded that despite the myriad coins, projects and innovations in crypto, bitcoin may be the only “safe” crypto asset to buy. That comes with a big asterisk, however. The price of bitcoin is down more than 60% for the year and volatility remains a key characteristic of the asset. Most of all, however, how to value it is still a mystery to many – lots of investors are looking at negative returns and the cryptocurrency certainly didn’t convince people of its potential as an inflation hedge this…

Bitcoin Price Close Above $17.5K Could Spark Larger Degree Recovery

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Bitcoin price is attempting an upside break above $17,000. BTC could start a steady recovery if it clears the $17,000 and $17,200 resistance levels. Bitcoin is attempting an upside break above the $17,000 and $17,200 levels. The price is trading above $16,800 and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $16,820 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could attempt a fresh increase if there is a clear move above the…

Bitcoin Falls Below $17,000; Mazars Pauses Work For Binance

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The Bitcoin price has once again fallen below the $17,000 mark after it became known that the auditing firm Mazars will pause its work with Binance. Already in the last few days, rumors and FUD about Binance intensified. As NewsBTC reported, investors are worried that Binance is not keeping enough reserves on hand for all their client funds. The impetus for the outcry was a proof-of-reserves conducted by Mazars that raised numerous new questions instead of answering the old ones. Remarkably, the auditing firm worked not only with Binance but…

Bitcoin Miner Capitulation Is An Exaggerated Fear: Analyst

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Jaran Mellerud of Hashrate Index recently released a ‘comprehensive analysis’ on the thesis that a Bitcoin miner capitulation could put massive selling pressure on the market, causing a crash.  The topic has been a recurring part of the discussion in recent weeks as to whether the BTC bear market could be prolonged by the tight mining industry. Charles Edwards of Capriole Investments stated two weeks ago that miner capitulation has begun, as indicated by hash ribbons. Investment giant VanEck also recently published an analysis that the bear market could extend…