Tag Archives: BTCGBP

BTC has definitely surprised market participants lately after a 10-day green streak, managing to break above $40K. Just overnight, BTC staged a last-minute rally and made the first daily close above the top of the trading range closing at $42.2k. Chart by TradingViewBitcoin Overcomes $40K On July 28th, 2021, the third-largest BTC whale transferred 3000 BTC to Coinbase, signaling near-term caution on price. As we reported, this has been a local top indicator on quite a few...

Bitcoin has initiated another leg up, resulting in charting a new two-month high of just over $42,000. Apart from Chainlink, most alternative coins trail behind, and BTC’s market dominance has increased to well above 48%. Bitcoin Taps a 2-Month High As reported earlier this week, bitcoin went on a tear after dabbling with the $33,000 price line for a while and charted a $7,000 green candle. As a result, the cryptocurrency briefly exceeded $40,000 for the first time in over a...

GoldenTree Asset Management, a US asset management giant with $45B in AUM, has reportedly purchased portions of the primary cryptocurrency. The move aims to diversify some of the organization’s already existing strategies. Founded over two decades ago, GoldenTree is an asset manager headquartered in New York City with offices in numerous other important financial cities such as London, Singapore, Tokyo, and Sydney. According to a report by The Street, the institution has...

Going through the recent week and touching the $40K mark, there are some promising signs in on-chain data that could lead to a further price recovery in the market. However, some metrics still make an immediate rally back to the all-time high a questionable probability. Let’s explore the bull and the bear case for Bitcoin’s price in the current market condition, stemming from predominantly on-chain information. Supply Shock – The Bull Case To summarize the overall bullish...

After weeks of prolonged consolidation and choppy sideways action in a very squeezed and narrow range, Bitcoin finally broke out. Fortunately, it was to the upside. Over the past week, BTC is up by a considerable 20%. At the time of this writing, it’s trading at around $39K, having pulled back slightly from the psychological and technical resistance at the coveted $40K level. It’s also worth noting that we saw an increased trading volume over the past week, and even though...

The NASDAQ-listed software giant MicroStrategy has seen a total impairment loss of nearly $700 million in Q2 2021 from its massive bitcoin investments. As this is only on paper, though, the company pledged to double down on its BTC strategy and continue to accumulate more. MicroStrategy’s Q2 BTC Impairment Loss Michael Saylor’s brainchild has become one of the largest holders of bitcoins, with over 105,000 coins accumulated in the span of a year. However, the substantial...

Bitcoin Bitcoin saw an impressive 20% price hike this week as it reached the $40K resistance level. The cryptocurrency penetrated above a descending wedge formation last Thursday and continued above the 20-day MA level last Friday. Since breaking the wedge, BTC surged higher inside an ascending price channel as it broke the 50-day MA level for the first time since May and continued to hit the $40k resistance. It did spike above $40K, reaching $40,500 (bearish .382 Fib) but...

BTC’s recent 9 daily candle streak to the upside has been very impressive. We have been tracking the third-largest BTC whale wallet and found interesting activity and signals. The whale entity, at one point, held over 116,841 BTC. Its current total BTC holdings stand at 113,841. The recent sales from this address since April 2021 have accurately marked local tops in BTC, as shown in the chart below. Chart by TradingViewThis doesn’t necessarily mean that bitcoin’s price will...

The International Monetary Fund opined that risks and costs outweigh the potential benefits of digital assets. They can also be highly volatile, and thus their implementation as national currencies is not suitable for now. Cryptocurrencies Are Not Related to The Real Economy The International Monetary Fund (IMF) warned in a recent publishment that digital assets are not quite ready to be employed as national currencies. Despite highlighting their potential to provide faster...

Bitcoin is up by an impressive 22% this week as it currently battles with the $40K resistance area. As mentioned before, for the past two months, bitcoin’s price was trading between $30K and 42K. This week saw its highest point since June 15 ($41.3K according to BItstamp). The past week has been promising for BTC, after breaking a descending wedge pattern and finally getting to overcome both the 20 and the 50 days moving average lines. This break of the 50-day MA was the...