The Bitcoin Mining Council has publicized its aim to tackle negative media narratives. In its inaugural meeting which was hosted on Twitter Spaces, the council discussed bad press that has been surrounding Bitcoin and its mining in the past weeks. The China crackdown has led to the shut down of a number of mining farms.…
Bitcoin price started a fresh decline after it failed to stay above $40,000 against the US Dollar. BTC is moving lower and it could even decline towards $35,000 in the near term. Bitcoin started a fresh decline from well above the $40,000 pivot level. The price is now trading well below $39,000 and the 100…
Bitcoin and other assets often develop support and resistance around Fibonacci levels, either through extensions or retracement. The ratios are based on the Fibonacci sequence, which has ties to the Golden Ratio. With the top cryptocurrency so tied to mathematics, the Golden Ratio could provide clues as to where Bitcoin is in its latest market…
Bitcoin price started a downside correction from well above $40,000 against the US Dollar. BTC is now trading near a major support at $38,000, where the bulls are currently active. Bitcoin started a downside correction after it failed to stay above $40,000. The price is currently just below $39,000 and the 100 hourly simple moving…
Technical analyst John Bolinger says that the price of Bitcoin is trying to move up. He pointed out that the first real target is the bottom side of the prior. This means the $48k to $50k range. This was in response to a tweet from BigCheds on Twitter which posted a candlestick chart showing Bitcoin’s…
Bitcoin price is struggling to hold above $40,000 and is now below it. On the three-day timeframe, the top cryptocurrency is also well back within the Ichimoku cloud, suggesting there’s more support now built below. However, it is worth noting that if the indicator is to be read correctly, even through there’s an attempt at…
Billionaire Tim Draper has doubled down on his prediction that Bitcoin will reach $250,000 by the end of 2022. Draper first made this prediction in 2018 when Bitcoin’s price was still trending below $10,000. Being a venture capitalist and tech investor, Draper has always had faith in the coin. Always taking any opportunity he could…
Bitcoin price is trading in a positive zone above the $40,000 level against the US Dollar. BTC is likely to start a fresh rally if it clears the $41,200 resistance zone. Bitcoin remained in a positive zone above the $39,000 and $40,000 levels. The price is currently well above $39,000 and the 100 hourly simple…
Bitcoin price is on the rebound, but after such a sharp fall and more than 50% retracement, any reversal must be considered a potential bull trap until much higher prices are reclaimed. Further adding credence to the theory of a potential bull trap, a trend strength indicator very clearly shows that bears are in charge,…
As wrapped Bitcoin approaches 189,000 BTC, the leading form of BTC on Ethereum now makes up for nearly 1% of the total supply of the cryptocurrency. The total supply of WBTC was only around 4,000 coins last June, and today it is 47 times that. The gigantic growth has made the token the most popular…