Is Bitcoin in trouble, potentially on the brink of collapsing to unexpected new lows? That’s the question on all crypto inventor’s minds, as the leading cryptocurrency by market cap tends to lead the bullish charge. However, a somewhat forgotten style of technical analysis could provide the most cut and dry look at the current support…
Bitcoin extended its recovery above $51,000 against the US Dollar. BTC must remain stable above $49,500 to continue higher in the near term. Bitcoin started a recovery wave above the $50,500 resistance zone. The price is now trading above $50,000 and the 100 hourly simple moving average. There was a break below a connecting bullish…
Despite the recent downtrend, bitcoin has been experiencing increased adoption on a larger scale. From El Salvador buying the dip to lightning network adoption going up, the digital asset has not been doing too bad. The most recent indication of increased bitcoin adoption has come in the form of bitcoin lightning network nodes. Data shows…
Bitcoin is recovering and trading above $50,000 against the US Dollar. ETH must settle above $51,000 and the 100 hourly SMA to continue higher. Bitcoin started a recovery wave above the key $50,000 resistance zone. The price is now trading near $51,000 and the 100 hourly simple moving average. There is a short-term bullish trend…
Bitcoin price in a flash found itself below $50,000, only weeks after the top cryptocurrency set a higher high. End of year price targets for $100,000 or much higher are now no longer within striking distance, thanks to a rare bull market corrective pattern that few saw coming. But although Bitcoin has fallen “flat” on…
On-chain data shows Bitcoin short-term holders are increasingly selling at a loss following the latest crash in the crypto’s price. Bitcoin Short-Term Holder SOPR Dips Further Below One As pointed out by an analyst in a CryptoQuant post, on-chain data shows that the STH SOPR has decreased to July levels, suggesting that short-term holders are…
Bitcoin has now become part of El Salvador’s daily life following the official implementation of the cryptocurrency as a legal tender. Since then, the El Salvador government has pledged to purchase bitcoins and has held up its end of the bargain. Now, every time the price of BTC goes down, the country calls the dip…
Bitcoin has proven to be a long-term play which means nations can no longer ignore the impact of the cryptocurrency on the economy. One way that nations have responded to this has been through regulations. While some countries have implemented favorable laws for bitcoin, others have gone the route of trying to stop the digital…
Bitcoin mining energy consumption has been one of the most addressed issues in the crypto space. Concerns over its energy consumption and environmental impact had been reasons cited during the China crackdown that saw miners exit out of the region en masse. The once bitcoin mining capital of the world had seen its hashrate crumble…
Data reveals that mostly mid-to-long term holders were selling their Bitcoin during November, thus being responsible for the correction. Bitcoin UTXO Age Shows Mid-Term Holders Sold Their Coins In November As per the latest weekly report from Arcane Research, mid-term holders seem to be behind the decline in BTC’s price during the month of November.…