Thomas Lee, the co-founder of Fundstrat Global Advisors, has tweeted that the Bitcoin Misery Index (BMI) is at 89. Developed by Lee as a trading tool for investors, the current BMI value signifies a “happy” sentiment in the markets. However, according to Lee, BMI measures above 67 see a sell-off, triggering a drop in Bitcoin…
For the past 14 months, investors spanning the cryptocurrency industry have done their best to stay afloat in the storm that is this Bitcoin (BTC) bear market. Stakeholders, by and large, have held onto the help that institutional investors, in the form of the so-called “herd” as Mike Novogratz puts it, will revive the crypto…
The inevitable pullback has started and crypto markets are beating a retreat at the moment. Bitcoin is leading them down as it drops back below $5,000 dumping 6 percent on the day. The question now is how low will it go? Minor Pullback or Major Correction? A number of analysts had predicted a major capitulation…
At the start of April, Bitcoin rallied nearly $1,000 in a matter of a little more than an hour. The powerful movement was enough to drag the entire crypto market with it, including the likes of Ethereum, Ripple, and Litecoin. The rally, which many believe confirm that the bear market bottom is now in due…
The crypto markets have followed Bitcoin’s lead and spiraled downwards over the past day, with many major altcoins facing significant levels of selling pressure that have sent most of them down 5% or more. Today’s drop has led the crypto markets to shed nearly $20 billion from its weekly highs, sending the overall crypto market…
Bottom this, bottom that. At long last, prominent crypto analysts across the board are convinced that Bitcoin (BTC) has finally bottomed in this cycle, and will not see fresh lows for years, if at all. While this may sound like wanton wishless thinking, a strong case has been made for this theory. In fact, the…
Bitcoin has been able to continue inching higher after dropping below $5,200 earlier today, and is now approaching $5,300, which appears to be a slight level of resistance for the cryptocurrency. BTC’s upwards ascent has continued to allow many major altcoins to surge, with many cryptos trading up over 2% today. Although Bitcoin’s price is…
The crypto markets appear to have found some stability at their current prices, as many altcoins have been able to continue climbing higher while Bitcoin further solidifies its footing at just under $5,300. The market’s recent price action has been widely viewed as being bullish by analysts and traders alike – many of whom believe…
The CEO and co-founder of blockchain-based identity platform Civic (CVC) has stated that he does not think the crypto bear market is over just yet. Vinny Lingham Tweeted that any upward surges are ultimately unsustainable until Bitcoin price can move independently of the other digital coins. Lingham’s opinions stand in stark contrast to many analysts…
Crypto bulls have been dominating the price action as of late, with many altcoins posting 100% or more gains since they reached their bear market bottoms. It’s caused many traders and analysts to agree that an alt season has been upon us. However, a massive Bitcoin rally halted alt season in its tracks, but it’s…