Hash ribbons, an indicator used to depict the health of Bitcoin miners powering the network, has just signaled capitulation for an unprecedented 4th time in this market cycle. And according to the tool, post-halving miner capitulation may have only just begun.Bitcoin Miners Are Capitulating Due To Post-Halving Production CostsAs a failsafe mechanism ensuring the long-term…
Bitcoin has seen an immense downturn over the past couple of days, declining from highs of over $9,800 to lows of $8,600 yesterday. This selloff came about after multiple consecutive rejections around $10,000.This turbulence was triggered by the recent reports of a 2009-era wallet moving 50 BTC, although there has not been any further activity…
Signed messages claiming Craig Wright is a fraud were sent from 145 Bitcoin addresses Wright listed were his in the Tulip Trust. The addresses seemed to have belonged to an early Bitcoin miner and have prompted a slew of accusations against Wright from some of the industry’s most influential figures.Early Bitcoin Miner Calls Craig Wright…
Bitcoin has seen a sharp overnight selloff that led its price to decline to lows of $8,800 today, with the support here once again helping the cryptocurrency begin climbing higher.This turbulence has come about close on the heels of a multi-day bout of consolidation within the lower-$9,000 region, and the break below the lower boundary…
Bitcoin has entered what appears to be yet another consolidation phase within the lower-$9,000 region. The crypto is struggling to garner any momentum as its buyers and sellers both reach an impasse following its recent decline.It now appears that the crypto could be gearing up for a massive movement in the days and week ahead,…
One key on-chain indicator is now signaling that Bitcoin is seeing intense underlying strength despite its recent turbulent price action.BTC’s NVT is a widely respected indicator that weighs the number of unique tokens being transacted on the Bitcoin network with the cryptocurrency’s price action.Because the network is still being heavily utilized by investors, it shows…
It has been a rough day for the benchmark cryptocurrency. After flashing some signs of weakness, Bitcoin briefly dipped below $9,000 earlier today before incurring enough buying pressure to propel it back above this level.This decline led BTC down towards its 200-day moving average, which has so far been defended by bulls.The 200-day MA has…
So-called “Crypto Twitter” was set ablaze today by an unusual 50 Bitcoin transaction made by a Satoshi-era wallet from 2009 that has been dormant for over a decade.News of this initially led many to speculate that this could be the cryptocurrency’s elusive founder – Satoshi Nakamoto –moving his holdings, but later data suggests that this…
Crypto analysts use different tactics to try and predict future price movements in Bitcoin and altcoins. Due to the speculative nature of the emerging asset class, the study of emotion-driven impulses and corrections – called Elliott Wave Theory – can be particularly insightful.According to one crypto analyst that focuses solely on the practice of Elliott…
Bitcoin has seen some notable upwards momentum throughout the past several weeks, but it has failed to successfully surmount the $10,000 region.This price region has been a historically strong level of resistance for the benchmark cryptocurrency, as it has failed to hold above it for any extended period of time subsequent to its late-2017 crash…