Category: Analysis
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Fund manager: Bitcoin price is poised to “pop” due to this reason
Over the past few days, the price of Bitcoin has slid lower after a strong multi-week rally to $7,470, marking a 100 percent increase from the “Black Thursday” bottom of $3,700. As of the time of writing this, BTC trades at $6,800, some nine percent lower than the aforementioned high. Though, a prominent cryptocurrency fund…
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Ethereum demand is booming, showing ETH could surge after 15% correction
The crypto market has fallen off hard over the past few days. Ethereum sustained a plunge from the weekly highs of $177 to a local low of $152 — a drop of nearly 15 percent — while Bitcoin saw a relatively mild but still notable nine percent correction. Key factors, however, suggest that ETH will…
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Options see 5% chance Bitcoin will hit $20,000 in 2020: Will it happen?
In February, when Bitcoin had retaken $10,000, traders were convinced that the cryptocurrency was well on its way to revisit and surmount the $20,000 all-time high established in Dec. 2017. In fact, one prominent crypto trader suggested BTC would do so before July, citing a confluence of technical and fundamental factors. But, to the surprise…
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Bitcoin is the strongest performing major asset of 2020 and the past decade
There’s no question that 2020 has been a volatile year for Bitcoin, with the relatively small and immature crypto market incurring some significant turbulence alongside that seen by virtually all traditional markets. In spite of this micro-volatility and recent downturn, Bitcoin still remains the best performing major asset of both 2020 and the past decade,…
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Ethereum sees rocketing open interest and futures volume; here’s what this means
Ethereum has found itself caught within a firm and unwavering uptrend throughout the past 48-hours, with Bitcoin’s surge past $7,000 providing ETH with some significant momentum that has allowed it to outperform the aggregated market. This rally has led the cryptocurrency to see a massive surge in futures trading volume and open interest (OI) on…
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Bitwise “increasingly bullish” on intermediate outlook for crypto, cites real money inflows
The Bitcoin price has made a V-shape recovery from $3,600, following a capitulation-esque fall on March 12. Since then, the crypto market has recovered rapidly, similar to gold in previous crises, cryptocurrencies could perform strongly in the medium to long-term. As CryptoSlate previously reported, gold demonstrated a close correlation with stocks in the early days…
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The rising network growth of these Ethereum ERC-20 tokens suggests a bullish outlook
Many cryptocurrency projects within the industry are still suffering from the significant downturn the market suffered during Black Thursday. Despite the state of commotion in the crypto sphere, on-chain metrics reveal that some of the top ERC-20 tokens are still growing. Network growth as a price indicator In a recent report, Santiment affirmed that network…
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Bitcoin whale refutes predictive power of stock-to-flow model, deems it “dangerous”
Many embattled cryptocurrency investors have been pinning their hopes for 2020 being a positive year for Bitcoin on its widely lauded stock-to-flow (S2F) economic model, which suggests that the benchmark crypto could be trading at roughly $100,000 by 2021. The S2F model, however, may be underpinned by false assumptions according to a recent report, and…
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Why analysts are bullish after Bitcoin’s just saw an explosive 10% surge to $7,400
Over the past few days, bullish pressure has been building for Bitcoin; all throughout the last two weeks, the cryptocurrency has been forming an uptrend, registering a consistent series of higher lows and higher highs. On Apr. 6, this streak of strength culminated in an ongoing explosion higher for BTC, which just minutes ago forced…