Bitcoin price consolidates as traders contest the $18.2K to $19.5K range

After an impressive run to a new all-time high on Dec.1, Bitcoin (BTC) price appears to have entered a short consolidation phase as the price ranges between $18,200 and $19,500.  The 1 and 4-hour charts show the price compressing into a pennant-like structure and break out from the pattern would likely see the price move to the $19,400 level where is a bit more resistance. BTC/USDT 4-hour chart. Source: TradingView A breakthrough the pennant would also suggest that the $19,000 level could now function as solid support and if bulls…

SushiSwap Token Price to Hit $9.00 Eventually as Strength Grows

Sushiswap’s governance token, called Sushi, has posted some massive gains as of late, benefiting from the inflows of capital into the DeFi market and regaining its hype and momentum following a partnership with Yearn.finance. Naturally, the clout and hype surrounding the Yearn ecosystem drew massive amounts of capital towards the Sushi token, with investors sending its price rocketing higher over the past few days. Its price is also being boosted by an influx of trading volume into the platform, which comes as users begin trading more DEX-listed tokens to maximize…

Price analysis 12/2: BTC, ETH, XRP, LTC, BCH, LINK, DOT, ADA, BNB, XLM

Bitcoin reclaimed the $19,000 level but charts suggest BTC and altcoins may consolidate for a few days before starting the next trending move. Bitcoin (BTC) price hit a new all-time high above $19,892 on Dec. 1. This is a significant event because it proves that the rally in 2017 was ahead of fundamentals but not a bubble. Generally, when a bubble bursts, it takes several years for the price to cross the high made during the bubble.  For example, the Japanese stock market bubble came after a high was made…

First Mover: Short Shrift for XRP Token’s 169% Price Surge as Traders Obsess Over Bitcoin

Bitcoin was higher, in an indecisive-looking market swinging between about $18,300 and $19,300. Prices have failed to push higher after surging to a new all-time high of $19,920 earlier this week.   “Expect additional short-term volatility,” Katie Stockton, a technical analyst for Fairlead Strategies, told CoinDesk’s Daniel Cawrey.  In traditional markets, European stocks slipped and U.S. stock futures pointed to a lower open as lawmakers discussed new economic-stimulus measures and traders awaited new data on U.S. jobs growth during November. Gold strengthened 0.7% to $1,827 an ounce.  The 10-year U.S. breakeven rate,…

Bitcoin Sees Record Number of Active Users as Price Almost Hits $20K

As bitcoin continues to set new price highs, its network is also seeing record-breaking user activity. As of Tuesday, there were 432,451 “active entities” – wallet clusters controlled by a single participant that sent or received funds in a 24-hour period. That’s an all-time high, according to data provided by blockchain analytics firm Glassnode. The previous peak of 410,972 was registered on Dec. 9, 2017. “The number of active entities has been increasing steadily since the halving and signifies a large increase in network adoption by participants,” said Matthew Dibb,…

This Economic Model Predicts a $200,000+ Bitcoin Price by 2022

Bitcoin has been on a wild ride throughout the past few days, with bulls sending the cryptocurrency rocketing up to fresh all-time highs yesterday around $19,800 before losing their strength and succumbing to bears. From here, the cryptocurrency’s price saw a vicious decline that sent it all the way down to lows of $18,200. The buying pressure here was quite intense and sparked a nearly instant rebound. It rallied as high as $19,400 this morning before facing an influx of selling pressure that slowed its ascent and caused it to…

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Why Ethereum price corrected sharply despite today’s Eth2 milestone

The price of Ether (ETH), the native cryptocurrency of Ethereum, plunged harder than Bitcoin (BTC) in the recent pullback.  After reaching an all-time high on Coinbase, the price of Bitcoin fell steeply by over 9% within several hours. In the same period, Ether corrected by over 11%, following a marketwide pullback. The deep correction in Ether comes as a surprise because of the Ethereum 2.0 network upgrade launch. On Dec. 1, the Eth2 Beacon Chain released on the mainnet, marking an important milestone for Ethereum. ETH/USDT 4-hour chart. Source: TradingView.com…

3 reasons why Bitcoin price violently rejected near $20,000

Bitcoin (BTC) finally managed to secure a new all-time high but the digital asset rejected strongly near $20,000. On-chain analysts say a sell-off from whales and miners, combined with the $20,000 level acting as a resistance level caused a fierce drop. BTC/USD 15-minute chart. Source: TradingView What led whales and miners to sell Bitcoin? For whales and high-net-worth investors, liquidity is the most important factor. Since they deal with large orders, they need to calculate the slippage their sell orders would cause. Typically, the best period for whales to sell…

Bitcoin Price Rally to Over $19,800 Likely Because of “Smart Money”

Preceding the Bitcoin price pump to over $19,800 was an influx of new capital and investors, data from GlassNode reveals. The Bitcoin Price Pump The Bitcoin price has since contracted to around $19,400 at the time of writing but price action favors bulls.  After last week’s decline–that saw prices slide to $16,555 before reversing to spot rates, the entry of new investors is bullish for Bitcoin price and the crypto scene. Focus on On-Chain Activities Differentiating the current Bitcoin rally from previous pumps are bullish on-chain activities and the influx of smart money.…