Category: Analysis
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Barrons says “Big Money” is driving the Bitcoin rally
The price of Bitcoin (BTC) is hovering above $18,000 following a massive short-term correction to $16,200. Barrons reported that “Big Money” is driving BTC and as such, it could potentially move higher. In recent months, the Bitcoin market has seen an influx of institutional capital. Various on-chain metrics, exchange volume trends, and corporate figures, including…
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3 reasons Stellar (XLM) saw a 166% rally within five days
The price of XLM, the native cryptocurrency of the Stellar blockchain, has been showing strong momentum. There are three reasons why XLM saw a 166% rally in the past week. The potential reasons are the consolidation of Bitcoin, technicals showing overbought conditions, and social media traction. The 4-hour price chart of XLM. Source: TradingView.com Bitcoin is…
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High-net-worth Bitcoin investors aren’t all bearish—potential reasons why
High-net-worth investors are not all that bearish on Bitcoin despite the recent drop. Since its yearly peak, BTC plummeted by nearly 17%, but major investors do not seem fazed. There are several potential reasons why whales and high-net-worth investors are not bearish in the medium term. First, before the drop happened, as CryptoSlate reported, the…
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Bitcoin derivatives market hasn’t been this wrecked since the March crash
On November 26, the Bitcoin futures market recorded nearly $800 million in long contract liquidations alone. It marked the worst day for the derivatives market since the March 12 crash. Almost 800 mil in long liquidations alone. The derivs market hasn’t gotten this rekt since the black swan in March.$BTC pic.twitter.com/omNoJUPXi3 — Byzantine General (@ByzGeneral)…
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Counterargument: why China seizing $3.2B in Bitcoin and Ethereum isn’t a big deal
According to a report from CoinDesk, the Chinese government has seized $4.2 billion worth of cryptocurrencies. Among them is 194,775 BTC, worth $3.2 billion. Albeit the size of the Bitcoin seizure is large, an argument can be made that it is not a big deal. Two reasons why the Bitcoin seizure was expected and could…