Category: Analysis
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The $1200 U.S. stimulus payment invested in Bitcoin in April is now worth $6,495
If the recipient of a U.S. stimulus payment in April invested the check into Bitcoin, the check would now be worth $6,495. Since April, in merely nine months, the price of Bitcoin has rallied 441%, posting one of its strongest rallies in recent history. $6495 (+441%)#bitcoin — $1200 Stimulus Is Now Worth (@BitcoinStimulus) January 13,…
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Bitcoin Price Spike Targets the $40K Handle, Crypto Economy Recaptures $1 Trillion Market Cap
Crypto asset markets have seen some significant gains over the last 24 hours recapturing much of the losses suffered a few days ago. The entire crypto-economy valuation is now back over the $1 trillion mark and bitcoin has jumped above the $40k handle on January 14. Bitcoin (BTC) and a number of other digital assets…
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Bitcoin surges a day after Grayscale reopens deposits, and it’s not a coincidence
The price of Bitcoin has recovered strongly overnight, rising from around $34,000 to $38,500. The 10% rally coincides with Grayscale reopening its products. Last month, Grayscale closed its products for new investors. Since Christmas, the Grayscale Bitcoin Trust did not report any additional inflow as a result. The Grayscale Bitcoin Trust is the go-to investment…
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Why more analysts are starting to expect Ethereum may hit $10k long-term
More analysts are beginning to believe that Ethereum could achieve $10,000 to $20,000 in the long-term. The $20,000 target was first brought upon during this bull cycle by Real Vision Group CEO Raoul Pal. The industry executive noted that Ethereum is following Bitcoin’s growth trajectory based on Metcalfe’s law. “Oh shit, really? Is ETH identical…
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Why this trader thinks the Bitcoin bottom is in based on volume trends
On January 12, the day the price of Bitcoin dropped from $41,000 to $30,500, over $2.5 billion worth of futures contracts were liquidated. The derivatives market, which was extremely overleveraged and overcrowded, saw a massive reset. Following the shakeout, a pseudonymous trader known as “Byzantine General” said that there is a chance the “bottom” is…
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Prominent crypto skeptic admits he may have underestimated Bitcoin
Bitcoin bounces at $30k support to allay fears of a complete capitulation. Nonetheless, the 30% drop from last Friday’s high was a real wake-up call for investors. More so for the over-leveraged longs who, to their detriment, chose to ignore the warning signs. As much as recent weeks have been a boon for hodlers, yesterday’s…
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Bitcoin frenzy? Coinbase surpassing $9 billion in daily volume shows big demand
The demand for Bitcoin is increasing as the rising volatility shows. Coinbase, the largest cryptocurrency exchange in the U.S., recorded $9 billion in daily volume on Jan. 11. Yesterday, Coinbase, Kraken, and several other exchanges and data providers saw technical difficulties amid record-high trading volume. The explosive increase in the trading volume of Bitcoin led…
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Data shows Bitcoin sells are being scooped up by BTC whales
Bitcoin jubilation turns to panic as the market downturn takes hold. The last 24-hours have seen $260 billion wiped from the crypto market cap in what can only be described as a blood bath. Indications of a dip began to show over the weekend when Bitcoin failed to hold the crucial $38.8k level. Since then,…