Category: Analysis
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Bitcoin’s hash rate climbed 8,100% since the last halving; will history repeat?
Bitcoin’s intense strength seen throughout the past several days and weeks showed some signs of degrading today. This comes after BTC shed over $20 billion off of its market capitalization during its sharp $2,000 decline seen yesterday evening. The benchmark cryptocurrency is now flashing some signs of immense short-term bearishness, as indicated by a few…
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Ethereum accumulation trend shows it may be primed for a major upside movement
Ethereum has been severely underperforming Bitcoin and some of its other counterparts throughout the past several days. This weakness has caused it to form a bearish market structure against its Bitcoin trading pair, leading many analysts to forecast that it was in for some serious downside in the days and weeks ahead. Buyers were able…
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Bloomberg analyst shares 5 reasons why he’s bullish on Bitcoin in 2020
Although Bitcoin’s market capitalization is still extremely small compared to that of other assets, like the dollar or Apple, the cryptocurrency is rapidly gaining traction with mainstream investors. Paul Tudor Jones, a multi-billionaire hedge fund manager, called BTC the “fastest horse” in the asset race, noting how the cryptocurrency looks like gold did in the…
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Bitcoin price plunges 19% but key data suggests institutions are buying the dip
Article by Cole Petersen with contributions from Joseph Young The Bitcoin (BTC) price plunged by 19 percent from $10,000 to $8,100 across major exchanges. The sell-off was so intense that Coinbase went down temporarily amid the drop. But, key data shows institutional investors are patiently investing in the cryptocurrency market. Grayscale, which operates the Grayscale…
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5 key reasons why the Bitcoin pre-halving momentum is organic
The Bitcoin (BTC) price reached as high as $10,060 on Coinbase, rising by more than 160 percent in 56 days. After such an extended rally, BTC is typically at risk of a severe correction. This time, it is showing signs of actual accumulation and strong buyer demand, which reduces the probability of a large pullback.…
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Ethereum gets big boost ahead of ETH 2.0 as DeFi market completes v-shape recovery
Ethereum will soon see a major network upgrade to ETH 2.0, possibly by July 2020. With two months left, the decentralized finance (DeFi) market saw a strong recovery following bitcoin’s crash to $3,600 on March 12. When the cryptocurrency market saw its sharpest pullback in its history less than 60 days ago, the price of…
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Analysis of Bitcoin addresses shows that BTC is about to tap a massive resistance region
Bitcoin saw a notable overnight upswing that allowed it to rally past the heavy resistance that had previously been established around $9,200. The break above this level has led investors to become increasingly bullish as it grows ever more likely that BTC is about to start forming another leg up. It is important to note…
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Chainlink may be on the cusp of a big movement as volatility levels plummet
Chainlink’s immensely bullish market structure formed throughout 2019 allowed it to set fresh all-time highs just a couple months ago, but this strength was not enough to make it immune from seeing intense losses during the market-wide meltdown in mid-March. After reeling from all-time highs of just under $5.00 to lows of $1.50, LINK has…
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Search data shows “Bitcoin Halving” hits are now 4 times higher than 2016 levels
Bitcoin’s seeing increased retail interest ahead of its upcoming halving event on May 12, if Google’s search trends are considered. Developing countries leading search Unique hits for Bitcoin halving are surging, reaching a historically unseen level. The protocol is scheduled for a reduction in block rewards to miners after May 12, cutting incentives down to…