Category: Price Watch

China state TV once again shills Bitcoin to millions upon rally to $18,000

Bitcoin has been on a tear over the past month, rallying from the low-$11,000s to highs around 36 hours ago at $18,500. This move has been marked by an uptick in mentions of the cryptocurrency by media, along with prominent investors and celebrities. Chinese media, despite the Chinese government’s aversion to cryptocurrencies (at least decentralized…

November 19, 2020
Bitcoin (BTC) pump to $18k pushes miner revenues to pre-halving levels

The recent BTC run has borne good news for two important parts of the Bitcoin ecosystem — investors and miners. Data from on-chain tracking firm Glassnode shows miner revenues are back at pre-halving levels, i.e. before May 12 of this year. These are the same as when block rewards were double those of today. #Bitcoin…

November 19, 2020
3 reasons Ethereum dropped much harder than Bitcoin in abrupt correction

Within 30 minutes, on November 18, the price of Ethereum dropped 7.7% as Bitcoin also recorded an abrupt 6% drop. ETH saw a much sharper drop in the same period, sparking concerns regarding extreme volatility. Three key reasons likely caused Ethereum to see a more volatile drop than Bitcoin. The factors are thinner order book,…

November 18, 2020
Bitcoin ETP volumes surge as institutions jump into the BTC bull run

Institutional Bitcoin products are booming as the pioneer cryptocurrency sees bullish price action. A report shared with CryptoSlate from crypto research firm CryptoCompare found that the aggregate volumes for popular Exchange-traded Products (ETPs) surged 53% this year with several products demonstrating “above-market” returns. Of these, Grayscale’s popular Bitcoin Trust product surpassed $9 billion in market…

November 18, 2020
Why this incoming U.S. Senator just shilled Bitcoin to millions on national TV

The adoption of Bitcoin is taking place at an extremely rapid pace. While the jury is still out on how a likely Biden presidency will affect the cryptocurrency space, soon, there will be one of this industry’s own sitting in one of the highest seats in U.S. politics. Incoming Wyoming Senator (Senator-Elect) Cynthia Lummis recently…

November 18, 2020
Bitcoin “enters stratosphere” as massive OTC deals spark institutional demand

Bitcoin achieved $17,095 across major exchanges, seeing a massive rally as over-the-counter (OTC) deals grow. This trend shows that institutions and high-net-worth are actively accumulating BTC. The hourly price chart of Bitcoin. Source: BTCUSD on TradingView.com Throughout November, on-chain analysts, including Willy Woo, said the ongoing rally is being led by smart money. The rise…

November 17, 2020
Why this Wall Street fund quietly signaled its intention to invest in Bitcoin

Bitcoin is up 60 percent in the past month alone. This performance makes it the best-performing macro asset, hands down. It’s no surprise that considering this performance, investors want in. While retail interest in the cryptocurrency market has yet to pick up as BTC is not yet past its $20,000 all-time high, Wall Street investors…

November 16, 2020
Why a Citibank analyst is calling a $318k target for Bitcoin

The banks are borderline following the playbook created by Bitcoin and cryptocurrency believers in the past few years: Deny all ties to the asset class at first, try to disallow clients from banking crypto profits to their accounts then, and wholeheartedly embracing the sector later. Citibank’s the latest to do so, after banks in Asia…

November 16, 2020
Research: real Bitcoin volume explodes to 2020 high, but greed takes over

According to Arcane Research, the “7-day average daily real bitcoin volume” hit a yearly high. It comes after the top cryptocurrency exhibited significant momentum in recent weeks. But the market is starting to show extreme greed. Bitcoin is showing some resilience above $16,000. Although there is low resistance above $16k, analysts say that a pullback…

November 15, 2020
Bitcoin is stable above $16k with little mainstream hype, and it’s very bullish

The price of Bitcoin is showing stability above $16,000 after a continuous rally since November 10. Every major dip was aggressively bought up, allowing BTC to sustain strong momentum. Yet, there is little mainstream hype behind the rally. According to Google Trends, compared to the 2017 rally when Bitcoin hit $20,000, there is noticeably lower…

November 13, 2020