Category: Analysis
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Bitcoin has outperformed the S&P 500 by 30% since March; will this trend continue?
The entire world witnessed a once-per-decade bout of capitulation in mid-March that sent virtually all global markets into a tailspin, with the effects of this being particularly impactful to Bitcoin. The benchmark cryptocurrency saw a sharp decline that led it to nosedive from over $8,000 to lows of $3,800. This decline was perpetuated by a…
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Here’s why Bitcoin isn’t out of the woods yet despite rally to nearly $10k
Bitcoin saw some explosive momentum overnight that allowed it to briefly tap highs of $10,000 before settling back into the mid-$9,000 region. This movement came about after an extended period of sideways trading within the upper-$8,000 region, and the bullish resolution to this consolidation has led many analysts to target a move back up to…
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Bitcoin’s halving sent on-chain metrics through the roof while whales accumulate
The Bitcoin network successfully went thought its third halving on Monday. Consequently, reducing the rate of issuance from 12.5 BTC per block to 6.25 BTC. Some of the most prominent figures within the industry anticipated that this event could trigger a catastrophic correction. However, the flagship cryptocurrency only took a 19 percent nosedive over the…
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Idled Ethereum tokens are on the move suggesting incoming volatility
Ethereum suffered a significant correction over the weekend, dropping more than 18 percent. The price of the second most valued cryptocurrency in the market went from trading at a high of $215 to hit a low of $176 on Monday. Data from Datamish reveals that the recent bearish impulse saw nearly 5,900 ETH worth of…
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Chinese Bitcoin mining startup becomes sixth-largest just days after launch, pockets $3 million
A new Chinese startup focused on Bitcoin mining broke into the top-ten hash power providers last week, a local industry observer tweeted on May 13. The surge Reportedly launched two weeks ago, Lubian.com is now ranked sixth among all miners as per data on BTC.com. The firm accounts for 5.99 percent of Bitcoin hash powers…
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These three assets are dominating the crypto market’s trading volume
Throughout the past year, traders, users, and investors appear to have been driven primarily to three digital assets, which now account for 90 percent of the trading volume seen amongst the top ten cryptos. This comes as the thousands of other digital assets that have sprouted up in recent years are seeing virtually no trading…
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These three metrics suggest Ethereum still has some massive room to rise
Ethereum has seen some incredibly poor price action throughout the past several weeks, with the cryptocurrency’s severe underperformance of Bitcoin leading it to erase virtually all the gains that came about as a result of the latest market-wide upswing. This weakness has led its market structure to become firmly bearish against its BTC trading pair,…