Tag: Analysis

Bitcoin price would retest $25K without Silvergate saga — analysis

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Bitcoin (BTC) stayed lower into the weekend as ongoing problems at Silvergate bank pressured markets. BTC/USD 1-day candle chart (Bitstamp). Source: TradingView Bad news holds Bitcoin back Data from Cointelegraph Markets Pro and TradingView showed BTC/USD lingering at around $22,350 on March 4. The pair had managed to avoid further losses after the initial shock around Silvergate wiped 5% off spot price in minutes.  With United States equities delivering a strong finish to the week, however, Bitcoin and altcoins remained unable to capitalize on what traders argued would normally be an…

Price analysis 3/3: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, SOL, DOT, LTC

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Concerning news from Silvergate Bank and FTX may have influenced investors’ decision to press the sell button, but the potential for further downside could be limited. Bitcoin (BTC) is leading the cryptocurrency markets lower and the matter is being exacerbated by Silvergate Banks’ ongoing issues. This week the cryptocurrency-focused bank said that it needed additional time to file its annual 10-K report and warned that it may not be able to operate for another 12 months. Reacting to this news, several cryptocurrency companies announced that they were reducing or canceling their…

Price analysis 3/1: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, SOL, DOT, LTC

Bitcoin started March on a positive note, but historically the month has recorded mediocre gains, which could be an early warning sign for crypto investors. Bitcoin (BTC) was marginally positive in February even though the S&P 500 index (SPX) fell by 2.61%. On the first day of March, Bitcoin has started on a positive note while the United States equities markets are struggling. This shows that Bitcoin is trying to decouple from the U.S. equities markets. A positive sign is that retail traders seem to have made the most of…

BTC price needs to close February above 50-month trend line — analysis

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Bitcoin (BTC) faced a showdown with a key trend line on Feb. 28 as the monthly close finally arrived. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin “doesn’t feel bullish” into February close Data from Cointelegraph Markets Pro and TradingView showed BTC/USD circling an area around $23,500 at the Wall Street open. With United States stocks flat and the U.S. dollar avoiding a return to strength, eyes were on Bitcoin to preserve its gains through last-minute volatility. “Would like to see more Bitcoin bid liquidity enter the active trading range…

Price analysis 2/27: SPX, DXY, BTC, ETH, BNB, XRP, ADA, MATIC, DOGE, SOL

Bitcoin and U.S. equities markets are attempting to recover, but selling at overhead resistance could continue to weigh on the bullish momentum. Bitcoin (BTC) and the United States equities markets are trying to start the week on a positive note but some analysts are skeptical about the short-term prospects of the markets. According to Bloomberg Intelligence senior macro strategist Mike McGlone, Bitcoin will face significant resistance at $25,000. McGlone believes that it “may be a while before buy-and-hold types gain the upper hand.” It also looks like Bitcoin whales, unique entities…

Ukraine Raises More Crypto Than Russia in Year of War, Analysis Unveils – Bitcoin News

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The two sides in the bitter conflict in Ukraine have been relying on crypto assets and technology to support their military and humanitarian activities, Elliptic says in a report. According to the blockchain forensics company, the targeted nation has attracted more digital asset donations than the invading power. Ukraine Supporters Sent Over $212 Million in Cryptocurrency Both Russia and Ukraine have employed blockchain technology to secure funding for their war efforts since Russian forces attacked on Feb. 24, 2022, Elliptic revealed in a report exploring the evolving role of cryptocurrencies…

Most Retail Crypto Investors Lost Money Over the Last 7 Years, According to BIS Analysis – Bitcoin News

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According to data from the Bank for International Settlements (BIS), published in the latest BIS Bulletin No. 69, researchers assessed that, on average, most users lost money on their investments over the past seven years. Onchain data, metrics from exchanges, and cryptocurrency application download statistics gathered by BIS researchers suggest that most median retail crypto investors lost money from August 2015 to the end of 2022. BIS Report Shows Majority of Retail Bitcoin Investors Lost Money Over the Last Seven Years After publishing recommendations from economists at the Bank for…

Price analysis 2/20: SPX, DXY, BTC, ETH, BNB, XRP, ADA, MATIC, DOGE, SOL

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Bitcoin’s tight consolidation near $25,000 suggests that bulls are holding on to their positions in anticipation of a breakout to a new 2023 high. Bitcoin (BTC) rose more than 11% last week and is trading near the pivotal resistance at $25,000. Monitoring resource Material Indicators highlighted in its latest update that large volume traders were “thinning” overhead resistance, which could spark a rally. As the prices rise, retail traders may get sucked in and the whales could use this opportunity to sell their positions that were accumulated at lower levels.…

How to evaluate any crypto project using fundamental analysis

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Fundamental analysis is the process of finding the intrinsic value of an asset, with the goal to determine whether the asset is overvalued or undervalued. That information can then be leveraged along with technical analysis to decide whether to invest in or trade an asset. In cryptocurrency fundamental analysis, the approach is somewhat different than that typically used to evaluate legacy market assets. Crypto assets don’t have the historical data required, because there’s usually no history of earnings reports or profit and loss statements. For cryptocurrency analysis, all the available…

Price analysis 2/15: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, SOL, DOT, LTC

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Bitcoin and select altcoins have rebounded sharply off their support levels, a possible sign that traders are buying the recent dip in the market. Bitcoin (BTC) is leading the cryptocurrency markets on the path to recovery. Although the United States Consumer Price Index (CPI) print for January was marginally higher than expectations, it did not dent the enthusiasm of bullish crypto trader. A positive response to seemingly negative data is a sign that the sentiment is bullish and traders are looking for buying opportunities. However, some analysts are cautious due…