Category: Analysis
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Crazy bullish for Bitcoin: Federal Reserve still intends to spend trillions on the economy
Despite the roaring recovery in the S&P 500 (and Bitcoin for that matter), many facets of the global economy remain in recession, with dozens of millions unemployed, consumer spending down, and a global supply chain that has come to a screeching halt. It’s an unfortunate fact that has not been reflected in the financial markets,…
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Crypto traders go into hiding as BitMEX continues losing market share
The crypto market has been subjected to immense volatility throughout 2020, with Bitcoin plummeting to lows of $3,800 in mid-March before incurring an intense rebound that has since led it all the way up to highs of $9,500. It appears that this immense volatility — and especially that seen throughout the past couple of days…
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Hedge fund manager who told you to sell Bitcoin at $10,500 is once again calling the top
[youtube https://www.youtube.com/watch?v=UcHGFMZGjfs&w=560&h=349] Thomas Thorntown, the head of Hedge Fund Telemetry, has made the headlines for his accurate predictions regarding the direction of Bitcoin’s trend. Relaying on the Tom Demark (TD) sequential index, the former portfolio manager forecasted some of the most profitable tops and bottoms that the flagship cryptocurrency has had over the past months.…
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Supply-demand dynamics show Bitcoin may be poised for “exponential” rally
Just six weeks after Bitcoin crashed to $3,700, the cryptocurrency has started to push $8,000 — more than 115 percent higher than the March lows. It’s a reversal that has shocked analysts, to say the least, as many expected BTC (and stocks for that matter) to fall once again as the COVID-19 outbreak has worsened.…
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After Bitcoin’s near 50 percent drop in March, exchanges lost institutional volume and reveal over 100,000 BTC withdrawals
Cryptocurrency exchanges and retail traders alike felt the effects of Bitcoin’s sudden fall in March 2020. While the latter may have lost significant capital on long positions, the drop has compelled exchanges to exist in an institution-less and low-volume environment. Bitcoin’s rollercoaster drop On March 12, Bitcoin traders witnessed what was the largest single-day drop…
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Data shows that the ongoing crypto rally could be highly sustainable
Bitcoin saw a technically significant uptrend today that allowed it to erase virtually all of the losses resulting from the meltdown it faced in mid-March. Its $1,000 climb today sent shockwaves throughout the crypto market, leading many altcoins to post notable gains. This uptrend comes after what appears to be a month-long bout of extreme…
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Here’s why Bitcoin’s dwindling open interest could be great for bulls
Bitcoin saw a notable overnight upswing that allowed it to climb as highs as $8,400, finding some stability around this price level as bears struggle to defend against the heavy buying pressure that has been driving this movement. An interesting byproduct of this bull-favoring volatility has been diving open interest (OI) – likely resulting from…
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Chainlink continues onboarding new investors as bulls defend critical support level
Chainlink has seen a notable recovery in the time following its latest selloff, with the cryptocurrency’s buyers defending it from dropping below the strong support that has been established around $3.50. It just so happens that this level coincides with a critical technical support level that was briefly tapped during the course of this latest…
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Bitcoin moves back above $8,000 as optimism around the halving explodes
Bitcoin is ticking up once again as the chatter about the upcoming halving skyrockets across social media platforms and news outlets. Social metrics about Bitcoin’s halving explode Bitcoin is back above $8,000 fully erasing all the losses incurred during Black Thursday. The bullish momentum appears to be fuelled by the high expectations that market participants…
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After halving, Bitcoin could rally 3,500% to $288k: Understanding PlanB’s “perfect fit” analysis
Early last year, a Bitcoin analyst going by the moniker of “PlanB” released an article titled “Modeling Bitcoin’s Value with Scarcity” to Medium. At the time of the article’s publishing, few knew who PlanB was, and few knew what he was working on. But in that article, PlanB — later revealed to be a European…