Tag Archives: Bitcoin (BTC) Price

Bloomberg recently found that investors are protecting themselves from fears of rising inflation by using Bitcoin. In a tweet, the company even called it “the best inflation hedge around” depending on how one looks at it. Bitcoin Beats Inflation After crunching the numbers, Bloomberg Opinion’s John Authers found that Bitcoin has achieved 99.996% deflation over the past 10 years. What cost one Bitcoin in 2011 now costs just 0.004% of a Bitcoin today. Meanwhile, the CPI has...

Since the major drop on Wednesday, the bitcoin price mostly traded around the same range of $64K. Today is the last day of the week; this means that on midnight UTC will see a weekly candle close. This candle close is critical for the next short-term. The bulls need to see BTC makes a weekly close above $64.8k for the first step in breakout confirmation. As shown on the following chart, the bullish Cup and Handle pattern breakout was completed, with a back-test of previous...

Following the past few days of enhanced volatility, bitcoin has calmed around $64,000. Most alternative coins have also remained untypically stagnant on a 24-hour scale, with the apparent exception of Avalanche, which went on a roll and registered a new ATH. Bitcoin’s Consolidation Rolls On Last week was going quite well for the primary cryptocurrency as it had recovered from its dip to $60,000 and went on to chart new records. It broke the October peak of $67,000 on Tuesday...

The United States-based cryptocurrency exchange Kraken predicted that bitcoin could increase to almost $100,000 by the year’s end and could even surpass that mark, according to some technical instruments. Bitcoin Is Set Towards New Heights In its “October 2021 Market Recap & Outlook,” the veteran platform – Kraken – explained its bullish prediction with past events. It pointed out that Q4 is usually a highly successful period for bitcoin. As such, if the leading digital...

The bears continued to push bitcoin south in the past 24 hours, and the asset dropped to a weekly low of just over $62,000. Most altcoins are also in the red, with Litecoin losing the most value in a day. Bitcoin Saw a Weekly Low Just a few days ago, the primary cryptocurrency broke its previous ATH two times in a row, and the latest peak came at $69,000. As the community was anticipating another run up to $70,000, the entire landscape changed. Instead of going upwards,...

Bitcoin’s price went through a near-term pullback that was largely driven by leverage long liquidations. It sent the open interest down $1.5 billion. There are no signs of aggressive distribution from long-term holders (LTHs) aside from very light selling from the 7-to-10-year cohort. Older coins didn’t send through this pullback. The cup and handle pattern looks complete with a backtest of the previous resistance at $64.8K, which is now turned into support. Chart by...

Today was looking to be a good day for Bitcoin and the entire cryptocurrency market, but the bears had a mind of their own. Earlier today, we reported that Bitcoin’s price painted a new all-time high above $69K, while the remaining cryptocurrencies were also painting notable increases. Fast forward a few hours later, though, and we’re now looking at love $700 million worth of liquidated positions as BTC takes a nosedive and dips below $63K. Chart by TradingViewEven though the...

After being stuck around $66,000, bitcoin initiated an impressive leg up, added $3,000 of value in minutes, broke its previous all-time high, and registered a new one at $69,000. CryptoPotato reported less than 48 hours ago when the primary cryptocurrency broke its October ATH of $67,000 and painted a new all-time high at $68,600 (on CoinGecko). The asset calmed in the following day and a half and remained around $66,000 following a minor retracement. However, it seems the...

Yesterday, Bitcoin’s price surged past $65k and consolidated just below the previous all-time high set on October 20, 2021. Moments ago, the primary cryptocurrency took off and as of writing these lines, the BTC price recorded a new all-time high above $67.8K, according to Bitstamp exchange. This comes shortly after the total cryptocurrency market cap crossed the $3 trillion milestone for the first time, whereas Bitcoin’s market cap is entitled for 43.6% of it. Furthermore,...

Bitcoin is up 7.6% in the past seven days, but it charted 6% gains in the past 24 hours alone in a very formidable push. However, it’s worth noting that we need to see a daily close above $64.8K, as well as a potential confirmation on the weekly chart to have more confidence in the current rally. Chart by TradingViewThe Technicals Bitcoin is currently pushing above the important resistance level at $64.8K on the intraday, and it’s looking to complete the cup and handle...