Bitcoin’s price has gained significant bullish momentum and recovered from the drop caused by the FTX fallout. Yet, it has reached a robust resistance, and if the bulls push the price above it, a mid-term uptrend will become possible. Technical Analysis By Shayan The Daily Chart Bitcoin’s price continued its rally after overtaking the 50 and 100-day moving averages. It has also surpassed the wedge’s upper trendline reaching a decisive resistance level with considerable...
Read More »Argo Blockchain’s BTC Production in December Crippled by a Winter Storm
The bitcoin mining giant – Argo Blockchain – mined 147 BTC in December, roughly 25% less than the production levels registered in November. The main reason for the decrease was a massive winter storm that hit the US last month and negatively affected the company’s Helios facility in Dickens County, Texas. The Cyclone’s Effect The severe snow blizzard that impacted much of the States around Christmas prompted Argo Blockchain to join other Texas BTC miners in reducing...
Read More »Bitcoin Dominance at 2-Month High as BTC Stands Firm Above $20K: Weekend Watch
Bitcoin’s dominance has recovered more than 2% in the past week or so and tapped a multi-month high as the asset maintains above $20,000. This comes even though the altcoins experienced notable gains yesterday, but many have retraced hard today. BTC Dominance Above 41% Ever since bitcoin finally broke above $17,000 at the start of this week, the landscape around the asset has seemed significantly more bullish than it was at the end of 2022. The past few days saw gains that...
Read More »What Will Happen to Bitcoin Over the Next 8 Years? Michael Saylor Chips In
Michael Saylor, the co-founder and executive chairman of American business intelligence firm MicroStrategy, has shared what he thinks will happen to bitcoin (BTC) in the next eight years while outlining how it will come into play. In a recent interview with Cory Klippsten, the founder and CEO of Swan Bitcoin, Saylor noted that he sees bitcoin becoming a global store of value by 2031. Institutional Adoption According to him, institutional adoption is one of the first drivers...
Read More »El Salvador’s Alejandra Guajardo Walks Miss Universe Stage in Glowing Bitcoin Suit
The Miss Universe 2023 contest had various show-stopper moments during its National Costume Competition today. But for the cryptocurrency sector, it came when El Salvador’s Alejandra Guajardo sashayed the stage in a Bitcoin suit. Alejandra Guajardo. Source: RedditBTC on Miss Universe Stage The 27-year-old actress and model showcased the evolution of her country’s currency through a dress she wore at the Miss Universe contest. She came on stage in a golden bitcoin outfit,...
Read More »Bitcoin Mining 2022 Review: A Tough Year for Public Miners
The mining data site Hashrate Index has released a report reflecting on the state of the Bitcoin mining industry throughout 2022. The analysis examines the steep decline in mining profitability in 2022 compared to 2021 amid plummeting Bitcoin prices and a rising hash rate. The Hardest Hitting Bear Market Per the report published on Wednesday, Bitcoin’s hashprice reached an all-time low of $55.94/PH/day in November of last year. Hashprice is a dollar-denominated measure of...
Read More »Bitcoin’s Yearly Start May Signal an Incoming Bull Market: Glassnode
Glassnode released its first on-chain video report of 2023 on Tuesday, reviewing what could be data-based indicators of an emerging crypto bull market. The firm noted that both Bitcoin and Ether’s price and on-chain activity have seen little volatility since the year began – a period like others that have historically preceded “explosive market moves.” Starting Off Slow As explained by Glassnode’s lead analyst James Check, Bitcoin has been stuck trading within a roughly $550...
Read More »Bitcoin Price Fully Recovers From FTX Crash: Market Watch
It has taken bitcoin just a little over two months to recover from the damages done by the collapse of SBF’s former crypto empire, as the asset skyrocketed to over $21,000 earlier today. Most alternative coins saw an equally if not more impressive rally in the past week or so, culminating in double-digit price surges on Friday and early Saturday. BTC Topped $21K After a violent year, which saw the demise of former crypto giants such as Terra, 3AC, and Celsius, the end of 2022...
Read More »$600M Shorts Liquidated as Bitcoin Skyrockets to $21K
In one of its most impressive rallies in about a year, bitcoin skyrocketed by double digits, charting a two-month high above $21,000. Most alternative coins have followed suit, resulting in over $650 million in liquidations on a 24-hour scale, the majority of which were from short positions. It’s safe to say that the start of the year has been quite favorable for the cryptocurrency market. Bitcoin, for one, stood around $16,500 on January 1. After a quiet first few days, it...
Read More »Bitcoin Tests $20k As End of Week Rally Continues
Bitcoin is pushing against the $20k price level for the first time since early November, prior to FTX’s collapse. As of 22:28 UTC, Bitcoin traded at $19,962, up from roughly $18,800 at the start of the day. Its price climbed especially fast 21:34 UTC, when it sprang from $19,450 to $19.823 within 5 minutes. Liquidations remain high, with $70 million across 45,000 crypto traders being cleared within the past hour, according to Coinglass. The largest liquidated trade within...
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