Despite major volatility caused by the halving, Bitcoin has ended yet another Q2 in the green. After showing poor performance in Q1 being down 10% QoQ, Bitcoin closed the year’s second quarter with a price increase of 48.56 percent.Bitcoin Finally Gets Out Q1 RutThe economic downturn caused by the COVID-19 pandemic has left the crypto…
Bitcoin has been consolidating within the lower-$9,000 region for the past day, struggling to garner any upwards momentum in the time following its latest rejection at $9,700.The price action seen today has come about due to this latest rejection shining a spotlight on the present weakness of buyers, as they have been unable to firmly…
Although there were some early signs that an altcoin season may be upon us, top crypto assets like Ethereum have been reverted to weakening performance against Bitcoin.However, a big move is potentially coming, as the Bollinger Band Width of most major crypto assets on their BTC trading pairs is indicating a distinct lack of volatility…
The lingering correlation between Bitcoin and the S&P 500 may be soon coming back to haunt the cryptocurrency market if a chillingly accurate sell signal sends the major US stock index tumbling back towards Black Thursday lows.Could the correlation cause the same for the first-ever cryptocurrency?Bitcoin’s Continued Correlation With the S&P 500 Could Lead to…
Bitcoin has been flashing signs of immense strength throughout the past few days as it pushes up towards the mid-$9,000 region.Although on a surface level this movement appears to be bullish, it is important to note that the cryptocurrency is now pushing up against heavy resistance. A rejection here could ultimately lead it to see…
Bitcoin has an incredibly scarce supply of just 21 million BTC. This supply was just slashed in half with the asset’s halving.An institutional focused investment firm that was previously absorbing as much as two-thirds of the newly mined BTC supply, is now buying up as much as 150% of it. Is this a sign that…
Bitcoin has once again found itself caught within a bout of sideways trading as it struggles to garner any momentum as it hovers around the $8,800 region.This is around the price point at which it has been trading at throughout the past couple of days, and it does appear to be a critical support level.Although…
The mounting tensions between the US and China as a result of the ongoing pandemic have contributed to global instability and could ultimately provide a major boost to Bitcoin.The United States House of Representatives is now spearheading an effort to delist Chinese stocks from the US markets, claiming that they have long been able to…
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…