Tag Archives: Bitcoin (BTC) Price

After losing a substantial share of its market dominance lately, bitcoin has recovered some of the losses by nearing $40,000. This comes even after some altcoins have gained value, including yet another record for Binance Coin above $70.BTC Eyes $40K, Recovers Some Lost DominanceDespite gaining a few thousand dollars since Monday’s dip to $32,000 to about $37,000, bitcoin remained in the shadows while some alternative coins took the main stage. Consequently, they reduced BTC’s dominance over...

This week saw nothing but green on the cryptocurrency markets as it seems everything is surging. Ethereum charted a new ATH, as well as many other altcoins, while Bitcoin attempts to reclaim $38K.BitcoinBitcoin saw a 15% price surge this week as the sentiment starts to turn bullish again for the primary cryptocurrency. The coin had been in a consolidation phase since hitting its ATH price at $42,000 last month. Since then, it has pretty much traded sideways within the confines of a descending...

Bitcoin is back on a bullish footing after finally breaking above the descending triangle pattern, which started forming a month ago when it recorded its all-time high. Since the breakout, the cryptocurrency managed to rise by a total of 12.5% to reach the current level of around $37,500.A quick recap: bitcoin’s price had been trapped within a large descending triangle pattern for almost four weeks, as can be seen on the following charts. It did manage to break last Friday, however, this...

The number of Goldman Sachs executives who question or refute BTC’s role as a store of value continues to expand. After the senior Chairman and head of commodities research, now the head of the investment strategy group has done the same.Goldman Sachs’ Exec Against BTC’s Store Of Value PositionWith bitcoin possessing similar qualities to gold, including a limited supply, the cryptocurrency is often considered as a store of value investment tool, as the precious metal. The narrative has been...

The total crypto market cap has surged to a new all-time high of $1.150 trillion as bitcoin topped $38,000 before retracing back below it. Most alternative coins also marked substantial gains, including fresh all-time highs for Ethereum and Polkadot.Bitcoin Touched $38KAfter the calm weekend in which BTC retraced to about $32,000, the primary cryptocurrency started to gradually increase its value. This led to yesterday’s break out from the consolidation triangle and an intraday high of...

The Coinbase outflows to custodial wallets, considered by CryptoQuant as an adequate price prediction tool, have caught the latest price increase that drove BTC from $32,000 to $37,000 in a few days.The CEO of the analytics company attributed this to institutional demand and said that such purchases are among the most notable bullish signals.Coinbase Outflows: Game Changer?Ki Young Ju, the CEO of CryptoQuant, has repeatedly highlighted the importance of Coinbase BTC outflows. He explained...

Guggenheim Partners’ CIO Scott Minerd sees the cryptocurrency industry as a growing and valuable part of the global economy. He doubled-down on his long-term bullish BTC prediction but said that investors need to be wary of the speculative price increase from October 2020 to early January 2021.Minerd On BTC’s Price DevelopmentsThe executive at the Wall Street behemoth has been openly discussing BTC’s price movements and making projections ever since Guggenheim filed documents with the SEC to...

Although bitcoin has already existed for over a decade and grown to be one of the largest assets by market capitalization, new data reaffirms the narrative that it’s still early in its adoption phase. However, it expands fast as the number of users on the BTC network 12 years after its launch coincides with what the Internet used to be… in 1997.Bitcoin Vs. The Internet: Userbase EditionThe vast global network that connects computers worldwide, known as the Internet, is among the most notable...

Bitcoin increased by 4% today, gaining almost $2000, as of writing these lines. Bitcoin bounced from $33,000 to a daily high of $35,700. The primary cryptocurrency has been forming a descending triangle, as shown in the following daily chart. If today’s candle holds, Bitcoin might finally break out of the triangle.As can be seen, last Friday was a major attempt to break above; however, this quickly turned into a false breakout. On that day, the cryptocurrency managed to spike beyond $38,000...

Just a few days after shocking the world by updating his Twitter bio to include only “Bitcoin,” Tesla’s Elon Musk has doubled-down on his support on the cryptocurrency. During a recent speech, Musk said that BTC is on the brink of a broader adoption from traditional financial representatives.According to a Reuters report, Musk showed his recently-found favoritism for the primary cryptocurrency during a speech on the invitation-only social media app Clubhouse by saying that: “I am a supporter...