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…
For the past few weeks, Bitcoin analysts have observed extremely low volatility in the nascent cryptocurrency market.Nothing shows this inaction quite as well as the chart below from Blockroots founder Josh Rager. It shows that for the past eight weeks now, BTC has been trapped in a ~15% range — something abnormal for this volatile…
To many, determining which direction Bitcoin trends from here is a coin toss. One trader shared the image below with the caption: “You guys still trading this garbage? I’m not doing anything until one of these lines gets hit.”That’s to say, the analyst isn’t taking a trading position in Bitcoin because he has no idea…
It’s been a tough past few weeks for the Bitcoin market. Some are skeptical that the cryptocurrency is in a bull trend after BTC has sustained multiple rejections at $10,000.Yet a trader that nailed a bold prediction remains optimistic, sharing a number of signals indicating imminent upside.Bitcoin Could Soon See a Bounce, Says Crypto TraderIn…
If you’ve followed Bitcoin analysts over recent weeks, you likely know of the importance of $9,500 to the cryptocurrency.As the chart below indicates, $9,500 has been a crucial price point for Bitcoin over the past two months. A rally in late-April topped almost exactly at $9,500 while that level has also acted as a pivot…
After holding the low-$9,000s for days on end, Bitcoin has attempted to break out over recent hours. The cryptocurrency trades at $9,250 as of the time of this article’s writing, having established a local peak at $9,300.Technical analysis, unfortunately, confirms that BTC may soon see a rejection.Bitcoin Could See a Strong Rejection at $9,500: Here’s…
Bitcoin has been stuck in the $9,000s for the past two months, trading between $8,500 and $10,000 for weeks on end.While the cryptocurrency has maintained the $8,500 support level on multiple occasions, a key indicator shows that the bullish momentum is weakening.Related Reading: Crypto Tidbits: BTC At $9k, Grayscale Ethereum Trust, Cryptocurrency & PayPalBitcoin Has…