Tag Archives: BTCGBP

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...

The past 24 hours saw bitcoin’s price being relatively stable around the crucial $40K mark. The majority of the market is also fairly neutral, with a lot of the altcoins charting rather insignificant losses. Bitcoin Stable Around $40K Bitcoin is circling the $40K mark over the past 24 hours, seemingly unable to make a move in either direction. However, a consolidation around this area, which is also serious support, could potentially be positive. At the tie of this writing,...

Vasant Prabhu – Chief Financial Officer of the company – opined that crypto-related transactions using Visa are beginning to dwindle. The top executive informed that their peak was in April and May, followed by a drop starting from June. Cryptocurrency Transactions with Visa Are Calming Down The American multinational financial services corporation – Visa Inc. – recently announced its results for fiscal Q3 2021. According to the report, the company’s last three months were...

During the first half of 2021, the ETH volume surged by more than 1,400% totaling $1.4 trillion, while BTC’s increased by 489%, reaching a total of $2.1 trillion. ETH Beats BTC for The First Time Coinbase took data from 20 trading venues and released a report, where it informed that Ether’s trading volume spiked by 1,461% during the first six months of 2021. Its total climbed to $1.4 trillion compared to $92 billion in the first half of 2020. In the meantime, Bitcoin marked...

Bitcoin’s recent 55% drop from all-time highs may have done technical damage to the charts, but analysis strongly suggest BTC is still in a bull market. According to on-chain analyst “Gaah Cordeiro”, BTC is still in a bull market as shown by the MVRV Onchain metric. What is MVRV? MVRV stands for Market Value to Realized Value. The metric divides BTC’s Market Value by its Realized Value. This creates a ratio that can show if the cryptocurrency is overvalued or undervalued. A...

Bitcoin is up by a whopping 25% during the week as the primary cryptocurrency reached over $40K yesterday – the highest point since June 15, 2021. As shown on the charts below, BTC price broke above a falling wedge formation toward the end of last week and eventually managed to climb above the key resistance level provided 20-day MA on Friday. Then, the price continued over the weekend to finally have a daily close (Sunday) above the 50-day MA, for the first time since May 9....

The past couple of days were particularly turbulent in the cryptocurrency market. This was largely propelled by Bitcoin’s rally, as the cryptocurrency managed to surge as high as $40,580 yesterday, before tumbling to where it’s currently trading at around $37,300. Bitcoin Price Pulls Back Following Amazon’s Statement Over the past few days, Bitcoin is on an impressive streak. From the lows at around $29K to yesterday’s high at $40,580, BTC was up almost 40% in six days. This...

An Amazon spokesperson has said that the earlier reports of the company planning to accept Bitcoin and to investigate the issuance of its own token next year are false. Previously, a report from City AM, citing Amazon insiders, claimed that the world’s leading online retailer plans on accepting Bitcoin and to investigate issuing its own token in 2022. The report went even further, saying that: This isn’t just going through the motions to set up cryptocurrency payment...