Tag: Analysis

Price analysis 12/30: BTC, ETH, BNB, XRP, DOGE, ADA, MATIC, DOT, LTC, UNI

Bitcoin and select altcoins remain under pressure as bounces off support levels are being sold into. Investors have faced a tumultuous year in 2022 as stocks, bonds, and the cryptocurrency sector have all witnessed sharp declines. As of Nov. 30, the performance of a traditional portfolio comprising 60% stocks and 40% bonds has been the worst since 1932, according to a report by Financial Times. The next big question troubling crypto investors is whether the pain in Bitcoin (BTC) is over or will the downtrend continue in 2023. Analysts seem…

Price analysis 12/28: BTC, ETH, BNB, XRP, DOGE, ADA, MATIC, DOT, LTC, UNI

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Bitcoin and select altcoins have turned down from overhead resistance levels, indicating that bears remain in control. Gold has been an outperformer in 2022 compared to the United States equities markets and Bitcoin (BTC). The yellow metal is almost flat for the year while the S&P 500 is down more than 19% and Bitcoin has plunged roughly 64%.  The sharp fall in Bitcoin’s price has hurt both short-term and long-term investors alike. According to Glassnode data, 1,889,585 Bitcoin held by short-term holders was at a loss as of Dec. 26…

Price analysis 12/26: SPX, DXY, BTC, ETH, BNB, XRP, DOGE, ADA, MATIC, DOT

The S&P 500 may try to move up in the short term and that could trigger a recovery in Bitcoin and select altcoins. The cryptocurrency markets are trading at record low volatility as investors have largely stayed away during the holiday season. That could be because investors are unsure about the cryptocurrencies that could lead the next bull run. Cumberland senior research analyst Steven Goulden said in a “Year in Review” report that he expects four “emerging narratives” to lead the crypto space over the next six to 24 months.…

Price analysis 12/23: BTC, ETH, BNB, XRP, DOGE, ADA, MATIC, DOT, LTC, UNI

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Bitcoin and most major altcoins are trading close to their overhead resistance levels, increasing the likelihood of an upward push. Bitcoin (BTC) is on track to end the year with a loss of about 65%. This would mark the third negative year for Bitcoin with the other two being 2014 and 2018. In comparison, the S&P 500 has fared much better but that is also down close to 20% in 2022. Although cryptocurrency prices have seen deep cuts this year, traders have continued to plow money into the space. An online survey…

Price analysis 12/21: BTC, ETH, BNB, XRP, DOGE, ADA, MATIC, DOT, LTC, UNI

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Bitcoin and select altcoins are showing signs of a possible recovery in the near term but higher levels may continue to attract sellers. As the year comes to an end, investors will be keenly watching for a Santa Claus rally on Wall Street as many believe that if the rally does not happen, the next year may either remain flat or turn negative.  Jurrien Timmer, director of global macro at asset management giant Fidelity Investments, tweeted on Dec. 19 that the United States equities markets may remain “sideways” and choppy…

What blockchain analysis can and can’t do to find FTX’s missing funds: Blockchain.com CEO

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Blockchain.com’s founder and CEO, Peter Smith, believes on-chain analytics will play a significant role in locating the missing FTX funds, though it will have its limitations. On Dec. 20, Fox Business host Liz Claman said that blockchain’s selling point was that it makes crypto transactions transparent and traceable, asking Smith the question of what it could trace in the case of FTX’s missing customer funds. Smith said that blockchain sleuths have already done a fair bit of work in chasing the money trail, adding that it could in fact be…

Price analysis 12/12: SPX, DXY, BTC, ETH, BNB, XRP, DOGE, ADA, MATIC, DOT

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Cryptocurrency and stock markets could see a sharp spike in volatility due to this week’s CPI print, interest rate hike and a conference from Federal Reserve chair Jerome Powell. The consumer price index (CPI) data on Dec. 13 and the outcome of the Federal Reserve meeting on Dec. 14 could influence the United States stock markets and the cryptocurrency markets in the near term. Traders are likely to play it safe and not take large directional bets until the CPI print because any nasty surprise could produce a sharp knee-jerk…

Price analysis 12/9: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, DOT, LTC, UNI

Bitcoin and most major altcoins remain stuck inside a range as traders keep a close eye on next week’s macroeconomic events. The United States equities markets are headed for a down week as market participants remain cautious ahead of next week’s key consumer price index data for November. The CPI report will be followed by the Federal Reserve’s Federal Open Market Committee meeting on Dec. 13-14 where the central bank is expected to hike rates by 50 basis points, according to the FedWatch Tool. The outcome of the events next week…

Price analysis 12/7: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, DOT, LTC, UNI

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The current weakness in BTC and major altcoins shows that investor sentiment remains negative and that bears are active at higher levels. The FTX crisis kept Bitcoin’s (BTC) price under pressure in November, but data from Bitstamp exchange shows institutional investors may have viewed the dip as a buying opportunity. The exchange told Cointelegraph that compared to October, its revenue from institutions increased by 34% in November. In another positive sign, Goldman Sachs executive Mathew McDermott told Reuters that the bank was doing some due diligence on crypto companies since they…

Price analysis 12/5: SPX, DXY, BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, DOT

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Crypto markets appear to be losing some of their recent bullish momentum, but a favorable tailwind from equities markets could catalyze a breakout in Bitcoin and select altcoins. It’s the final month of the year and analysts are out with their projections for the next year. In a note to investors, Standard Chartered suggested that “The financial-market surprises of 2023” will include Bitcoin (BTC) price diving to $5,000 at some point in the year. The fall will be triggered by a liquidity crunch, which could result in more bankruptcies and a…