Category: Analysis
-
The three-pronged “perfect storm” behind the 1,000% eruption in Bitcoin transaction fees
It’s been an expensive past three weeks for Bitcoin users. The average cost to send a BTC transaction, according to data from Blockchain.com, surged from approximately $0.50 at the start of the month to a high of $6.63 on May 21 — a growth of more than 1,000 percent in just weeks’ time. Chart of…
-
Crypto investors are growing fearful as Bitcoin trading volume wanes
Bitcoin is currently caught within a bout of consolidation within the lower-$9,000 region. This is around where it has been trading at for the past day, with buyers and sellers reaching an impasse as its upwards momentum stalls. This consolidation has sparked a decline in the benchmark cryptocurrency’s trading volume, which has previously been rocketing…
-
Despite ongoing rally, OmiseGo would need to rally over 1,400% to reclaim highs
OmiseGo – a relatively small crypto with a market cap of $261 million – has been caught within the throes of a parabolic uptrend over the past several days. This uptrend has allowed it to post some massive gains emblematic of those seen during 2017’s “altseason” – in turn drumming up significant interest amongst investors.…
-
Unlike 2016, analysts say Bitcoin won’t see a brutal post-halving crash for 2 reasons
On March 12, 2020, during the infamous “Black Thursday,” the price of Bitcoin (BTC) dropped to as low as $3,600 across major exchanges. Now, analysts believe the intense correction will benefit the dominant cryptocurrency in the coming months. After a block reward halving, the price of BTC tends to drop. In the previous two halvings…
-
Analyst: there has been “no point” owning crypto assets aside from Bitcoin & top 10
In 2017 and 2018, altcoins — crypto assets that are not Bitcoin and Ethereum (which is the common definition) — were in vogue. With many of these projects making absurd promises — like promising to be the better Bitcoin or promising to solve digital censorship — largely mom and pop investors were then willing to…
-
Bitcoin options on the CME are seeing surging popularity; here’s what this could mean
After first launching Bitcoin futures products in late-2017, the CME has been garnering massive adoption amongst BTC traders and investors in recent times. The platform’s options products, in particular, have seen a massive spike in popularity over the past few weeks, now accounting for 40 percent of the total outstanding open interest for Bitcoin futures…
-
Bullish for Bitcoin: There’s been $20 trillion in global stimulus since COVID-19 started
[youtube https://www.youtube.com/watch?v=OpFclCNxpMk&w=560&h=349] The past few months have been the worst months for many economies around the world since the Great Depression. Dozens of millions have become unemployed, revenues have fallen off a cliff, and there is growing social unrest as different groups address the COVID-19 pandemic in different ways. Governments, as a result, have been forced…
-
Bitcoin options skew shows a massive demand for puts; here’s what this means
Bitcoin’s options market is suggesting that there is a growing demand for put positions amongst traders. This is a sign that investors are moving to protect themselves from the cryptocurrency potentially seeing significant downside. Market markets, however, do not seem to be too concerned about the prospect of the benchmark cryptocurrency seeing further downside –…
-
On-chain metrics spell trouble as Bitcoin dips below $9,000
The past 24 hours have been characterized by fear, uncertainty, and doubt in the cryptocurrency market. The state of commotion among investors and market participants alike appears to have been triggered by a 50 BTC transaction originating from a wallet that had not been touched in over a decade. As speculation mounted that the transaction…
-
Volatility and “Black Thursday,” hedge funds learn how brutal Bitcoin and crypto trading can be
The cryptocurrency markets are not ones to be trifled with. Insane leverage, double-digit percentage fluctuations in a single session, and the promise of 100x returns on many-an-obscure altcoin lead the masses to throw capital in the market, hoping for “moon” returns at the least and a “Lambo” as the ultimate reward. But the market takes…