Bitcoin was once branded as an asset that was uncorrelated from the rest of the financial markets.Look no further than a survey of institutional investors by Fidelity Investments. It found that a good portion of this group want to buy cryptocurrencies because they are a valuable portfolio diversifier that is uncorrelated.Yet this has seemingly changed…
After attempting to rally through $9,500 this week, Bitcoin failed to sustain its bullish momentum yet again. As of this article’s writing, the leading cryptocurrency trades for $9,200, having sustained somewhat of a pullback.The retracement notably wasn’t caused by Bitcoin: a drop in the S&P 500 on Wednesday forced the crypto market leader.Technical analysts, regardless,…
There have been many analysts over recent weeks arguing that Bitcoin is clearly at a market top. As NewsBTC covered two weeks ago, one trader commented that the cryptocurrency is trading in line with a textbook “distribution” pattern.“A couple more clues developing that lend themselves to HTF distribution. 1. Rising Demand on the verge of…
Bitcoin has continued to push higher after a weekend dip. As of this article’s writing, the leading cryptocurrency trades for $9,450, a few basis points below the local high of $9,480.The cryptocurrency is still waiting to surmount the crucial $9,500 level. Yet, analysts say that there’s a rapidly forming Bitcoin bull case.Related Reading: Economist Steve…
Bitcoin price pulled back in the early trading session Tuesday after logging a strong opening for the weekend a day before.The corrective action appeared as the rising number of COVID cases in the US prompted the Federal Reserve to make a stark warning.The central bank said the trajectory of the US’s economic recovery would be…
Even after a healthy rally from $9,000 to a local high of $9,400, Bitcoin remains in no man’s land.The cryptocurrency is caught below $9,500 and caught above $8,500, both important levels on a medium-term time frame. Bitcoin may seem directionless as a result, as it is still anyone’s guess as to which way this range…
Bitcoin has performed extremely well since March’s lows, rallying over 150% from the $3,700 capitulation bottom. Even after a strong $1,200 retracement from the $10,500 highs, BTC is still one of the best-performing assets of 2020.Yet a crucial indicator suggests that Bitcoin is still intrinsically undervalued, boding well for the bull case.Related Reading: Crypto Tidbits:…
Bitazu Capital founding partner Mohit Sorout pinpointed that the volume of Bitcoin (BTC) declined since May. While the price of the top cryptocurrency has dropped since, its volume suggests it is not entirely bearish.Due to the second rejection of Bitcoin at $10,500 this year, traders have suggested the possibility of a rounded top. The price of Bitcoin…
Bitcoin has collapsed under $9,000 for the umpteenth time in the past few weeks.Minutes ago, the leading cryptocurrency slipped under $9,000 for the second time in the past week. As of the time of this article’s writing, BTC trades for $8,960, having bounced $50 or so from the daily lows.Bitcoin price chart from TradingView.comBitcoin slipping…
There’s been much debate over recent weeks over the work of Bitcoin analyst “PlanB” and his Stock to Flow (S2F) model. Some have argued that his work is valid while others aren’t so sure.On July 3rd, the analyst put the community to a vote, asking whether or not they believe in the model. The results…