Tag Archives: Bitcoin Analysis

Someone just moved $1 billion in bitcoin to an unknown wallet. | Source: ShutterstockOn September 6, more than $1 billion worth of bitcoin was sent from an unknown wallet. The transaction was processed within several hours with a $700 fee.A $1 billion bitcoin transaction processed with a $700 fee (source: blockchain.com)The Token Analyst team traced some of the 94,500 bitcoin to the address of Huobi Global, a major cryptocurrency exchange, but the origins of the rest of the holdings remain...

Bitcoin is looking at a fresh yearly high if support sticks, analysts have claimed. | Source: ShutterstockSince September 2, within four days, the bitcoin price has recovered from $9,500 to $10,700, rising by well over 10 percent against the U.S. dollar.The bitcoin price on a steady recovery since early September (source: coinmarketcap.com)As bitcoin stabilizes above an important resistance level at $10,000, technical analysts anticipate the asset to establish a basis for the next...

Bitcoin price has gained this week but what's behind the move? | Source: ShutterstockThis week brought a small reprisal for bitcoin price and the broader cryptocurrency market as it witnessed $20 billion added to its total market cap by late Tuesday.This was also reflected by an approximate 10% gain for BTC alone; so what was behind the rise?Bitcoin price action this week | Source: TradingViewIn somewhat atypical fashion, the week started on a good note, with bitcoin swelling by $700....

The Fear and Greed Index suggests that crypto investors are feaful. In addition, a top analyst believes bitcoin has more downside risk before skyrocketing. | Source: ShutterstockOver the last few weeks, bitcoin has been struggling to stay above $10,000. The bullish steam that pushed the dominant crypto to $13,880 is fading away. Armchair traders are quick to notice the coin’s growing weakness.A pseudonymous trader named Escobar has closed short-term long positions. While doing so, the...

In a sign of its growing maturity, bitcoin is nearing a 3-month period with a bottom at $9000. | Source: ShutterstockThe bitcoin price has held above $9,000 for a record 81 days, a feat it couldn’t manage even during the monster bull run of 2017. Although BTC remains around 50% below its all-time high, the price is arguably stronger and more resilient than ever as it consolidates around $10,000.The bitcoin price has held above $9,000 for 81 days, longer than the epic bitcoin 'bubble' of...

Though other cryptocurrencies will likely go through periodic pumps, bitcoin is the only crypto with real and lasting value, according to Peter Brandt. | Source: ShutterstockAre you holding cryptocurrencies other than bitcoin? If so, you might want to overhaul your portfolio.That's because an expert in classical charting principles warns that buying altcoins is not a wise investment decision.Not now, not ever.Altcoins Are 'Lead' to Bitcoin's 'Gold'Earlier this week, Peter Brandt took to...

The correlation with bitcoin price is becoming obvious. | Source: ShuttertockBitcoin (BTC) started this week off in good spirits, citing an impressive rise of around 8%. Interestingly, analysts are attributing some of this action to the close of the Chicago Mercantile Exchange (CME).Bitcoin's 8% rise this week which left a gap in the CME futures chart | Source: TradingViewOn Labor Day, September 2, the CME closed up shop. Far from the typical bloody Monday the cryptocurrency markets...

Bitcoin has had a volatile year and the clouds are gathering for stormy end to 2019. | Source: ShutterstockToo many people focus on bitcoin’s wild highs and fluctuating daily price. A better metric to look at is the monthly low points.By tracking the lows, you see the steady accumulation of bitcoin. This is the foundation of the market and it’s getting stronger.The chart below tracks the bitcoin price, overlayed with a red line marking the monthly low point. It’s a steady, upward curve of...

VanEck and SolidX are reportedly selling a “limited version” of a bitcoin ETF after every BTC ETF proposal has been rejected by the SEC. | Source: ShutterstockPrimarily targeting institutional investors, VanEck and SolidX are reportedly selling a “limited version” of a bitcoin exchange-traded fund (ETF) after every bitcoin ETF proposal has been rejected by the Securities and Exchange Commission (SEC) to date.According to the VanEck SolidX Bitcoin Trust 144A Shares proposal, qualified...