Category: Analysis

On-chain analyst says Bitcoin in serious “supply and liquidity” crisis

Bitcoin has been gobbled up like no tomorrow by institutions and accredited funds in the past months. And an analyst now says the asset is in midst of a sell-side crisis. Glassnode CTO Rafael Schultze-Kraft said Monday that Bitcoin was in midst of a severe “supply and liquidity” crisis as demand for the asset heated…

December 22, 2020
Charlie Lee explains 45% Litecoin (LTC) rally in face of strong Bitcoin dominance run

Unlike what many traders expected, the past few weeks and months have been all about Bitcoin. While certain altcoins have enjoyed strong rallies, BTC has consistently moved higher, resulting in a long-awaited correction in the Bitcoin dominance metric. Per CoinMarketCap, the metric is up from the lows of 55 percent seen in the summer to…

December 21, 2020
Analysts think Bitcoin may be overextended as bulls fail to hold $24,000

Bitcoin has undergone a strong rally over the past week, moving from $19,000 to highs near $24,300. As of the time of this article’s writing, BTC trades for $23,100, as bulls have failed to hold the $24,000 support. The cryptocurrency moved higher last evening as institutional money has continued to flood into Bitcoin and after…

December 21, 2020
3 reasons Litecoin (LTC) is up 61% in 1 week, outperforming the market

In the past seven days, the Litecoin price has increased by over 60%. It is the best-performing cryptocurrency in the past week, outperforming both Bitcoin and decentralized finance (DeFi) tokens. There are three major reasons why Litecoin has been rallying in tandem with Bitcoin. The reasons are a breakout against BTC, the historical relevance of…

December 19, 2020
Why OG altcoins like XRP are now just starting to rally

The XRP price has started to recover along with other “OG” altcoins. Throughout Bitcoin’s rally from $18,000 to over $23,000, most major altcoins have struggled. Now, they are starting to show signs of recovery. Why is the XRP price now recovering? In the past week, the XRP price stagnated even more so than other large-cap…

December 18, 2020
Bitcoin finally hits a new all-time high: here are what top analysts are saying

The Bitcoin price (BTC) finally surpassed $22,000 shortly after breaching its all-time high at $20,000. As the dominant cryptocurrency enters price discovery, analysts are forecasting short-term trends. In the near term, the outlook of Bitcoin remains obviously optimistic. There are no historical resistance and support levels above $20,000, so it remains uncertain how far BTC…

December 16, 2020
Bitcoin finally hits a new all-time high: here are what top analysts are saying

The Bitcoin price (BTC) finally surpassed $22,000 shortly after breaching its all-time high at $20,000. As the dominant cryptocurrency enters price discovery, analysts are forecasting short-term trends. In the near term, the outlook of Bitcoin remains obviously optimistic. There are no historical resistance and support levels above $20,000, so it remains uncertain how far BTC…

December 16, 2020
While Bitcoin topped when the CME released BTC futures, Ethereum futures are bullish

Bitcoin and Ethereum are exploding higher once again. BTC is at new all-time highs at $20,800 as ETH pushes to new year-to-date highs at $635. The rally coincided with news that the CME, the world’s leading derivatives and commodities exchange, has begun work on Ethereum futures contracts. While it cannot be 100 percent ascertained if…

December 16, 2020
Announcing Bitcoin Magazine’s 21 Days of Data

For the next 21 days leading up to Genesis Day, Bitcoin Magazine will be highlighting different data-related projects built by the community (and rolling out a few of our own!). Each of these projects are run by a small handful of developers looking to delight, entertain or educate. We’ll be posting each one to our…

December 14, 2020
Why this trader says Ethereum may rally harder than Bitcoin in a new bull cycle

Bitcoin has started to recover from its drop below $17,600. Traders think Ethereum (ETH) could potentially rally harder than BTC in the next bull cycle. There are three potential reasons why traders might be highly optimistic about Ethereum in the short to medium term. The factors are Eth2, the gap between the current ETH price…

December 14, 2020