Tag Archives: Bitcoin (BTC) Price

Bitcoin’s price continues to trade sideways as no big movements in either direction have taken place. As of this writing, the $18K and $20K levels are yet to be broken. Technical Analysis By: Edris The Daily Chart On the daily timeframe, the price recently retested the broken, bearish trendline and the $18K support level. These levels provided enough support to prevent another dip toward lower prices. However, the 50-day moving average located at around $19K is persisting as...

Mike McGlone, a senior commodity strategist at Bloomberg Intelligence, believes Bitcoin is at its most discounted price on a 100-week and 200-week moving average. He also predicted that the crypto asset would trade 5x its current price in five to ten years. During a recent interview with Stansberry Research, McGlone opined that Bitcoin is getting pounded by the Federal Reserve and so is at its most discounted price.  Bitcoin Will Trade at $100k  The Bloomberg strategist is...

It has been a dull weekend for Bitcoin struggling to clear the $20,000 resistance zone. Further indicating a potential case of dwindling institutional interest in the flagship cryptocurrency is the Grayscale Bitcoin Trust (GBTC) discount registering a new record high. It was currently trading at a 36.7% discount against BTC spot prices, setting the largest discount in the history of the Bitcoin fund. The increased figures could also signal that players are looking at other...

Singaporean financial services firm DBS Bank believes that Bitcoin remains an unprecedented opportunity despite concerns about the high volatility in the crypto market.  During a recent media briefing, DBS stated that Bitcoin’s ability to process continuous transactions without needing a central counterparty for clearing makes it an unprecedented opportunity in history.  DBS Exec: Bitcoin Is Driven by Its Utility  The bank’s investment strategist and senior vice president...

Bitcoin’s price has been trapped inside a consolidation range between $18K and $25K for months already, and is trading sideways with extremely low volatility. However, the primary cryptocurrency is now closer to the lower boundary of the range around $18K, and if this level breaks, we can expect new yearly lows. Technical Analysis By Shayan The Daily Chart The following chart indicates that the market suffers from insufficient activity and a lack of demand. As a result, the...

The past week saw the total cryptocurrency market lost about $30 billion in the past seven days, where most of the action took place yesterday. This was somewhat expected, given the US Bureau of Labor Statistics published the CPI numbers then. Let’s dive in. Bitcoin spent the majority of the week slowly bleeding out. The cryptocurrency was showing absolutely no signs of strength, which resulted in a painful chop and a decline below $19,000 on a couple of occasions. All this...

Yassine Elmandjra – analyst at ARK Invest – believes bitcoin’s valuation could skyrocket beyond $1 million per coin in the following years. Earlier in 2022, a research team of the company estimated that the market capitalization of the primary cryptocurrency could reach $28.5 trillion by 2030. Bullish Prediction Despite the Bear Market Bitcoin and the broader cryptocurrency market have seen better days. During the past several months, the leading digital asset has lost a...

Today, BTC went through some massive volatility. Accordingly, the trading volume on Binance increased exponentially. The price is struggling to hold above the $18K level, and the potential for further correction is causing fear across the market. Technical Analysis By Grizzly The Daily Chart: On the daily chart, Bitcoin is trading slightly above $18K, one of the lowest levels since the market crash in June. Throughout this period, this crucial level (in yellow) has been...

Perhaps somewhat expected, the volatility has returned to the cryptocurrency market, albeit event-driven. The ongoing turbulence is caused because the United States Bureau of Labor Statistics released the CPI numbers. CPI stands for Consumer Price Index, and it’s the most common gauge for the current rates of inflation in the US. The Consumer Price Index is used to measure the average change over time in the prices that urban consumer pays for a market basket of goods and...

The Bitcoin price has been relatively stagnant in the past few days, hovering around $19,000 without much movement. This might all be about to change soon as whales appear to have sent a huge amount of BTC to spot exchanges. Data from the popular cryptocurrency analytics resource CryptoQuant reveals that the inflows to spot exchanges have soared. This comes mainly from whale addresses holding between 100 and 1000 BTC, who have been sending BTC to exchanges in large...