Category: Analysis
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3 reasons Bitcoin spot volume reaching new yearly peak is highly optimistic
According to the data from Arcane Research, the spot volume of Bitcoin has reached a new yearly high. This figure is particularly optimistic for the short to medium term trend of BTC because it reflects the growth of real and verifiable trading volume. Since late October of this year, the spot volume of Bitcoin rose…
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This on-chain indicator confirms the Bitcoin bull market is just getting started
Bitcoin has entered what appears to be a consolidation phase following its latest bout of volatility. Yesterday, the cryptocurrency rallied as high as $15,800 before it lost its strength and reeled all the way down to lows of $14,800. From this point on, its price has been hovering within the lower-$15,000 region, with buyers and…
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Polkadot could become an Ethereum killer—but one analyst is skeptical
According to analysts, Polkadot has emerged as a major competitor to Ethereum in 2020. Following the explosive decentralized finance (DeFi) cycle from July to September, the demand for high-capacity smart contracts protocols has increased. Naturally, discussions on which blockchain networks could realistically compete against Ethereum over the long run started to emerge. The price of…
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Famed technical analyst: Bitcoin risks short-term top or consolidation after big fall
John Bollinger, the famed technical analyst, believes Bitcoin could be heading down for lower. On the day, BTC dropped 4.5% since its peak following the explosive rally of the U.S. stock market. Bitcoin, gold, and other stores of value sharply pulled back after Pfizer reportedly announced a major vaccine milestone. Pfizer said its study on…
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Ethereum DeFi prints massive recovery 10-30% after capitulation amongst investors
On Wednesday and Thursday, there was a clear sense of capitulation amongst investors in top Ethereum DeFi tokens. CryptoSlate market data shows that then, top coins pertaining to this space were plunging lower by dozens of percent without any relief. Yearn.finance (YFI) fell over 20 percent in the span of a day while many investors…
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Bitcoin breaks $15k for first time since 2017—but this is the biggest hurdle
The price of Bitcoin (BTC) is demonstrating a parabolic uptrend. It has continuously surged past key resistance levels in the past 48 hours. In the near term, however, $16,000 remains the biggest hurdle. This also means that there is no real resistance above $16,000 to the all-time high at $20,000. Based on the strong high…