“Bitcoin is a bubble” is something that has been thrown around a lot ever since the last bull run began in 2017. A lot of prominent personalities in the finance industry took this stand when the digital asset hit its then all-time high of $19K. The bear market that followed seemed to validate this for…
The past week has been a brutal one for bitcoin and crypto in general. The market has taken hit after hit. So much so that it’s starting to seem like there is no end in sight. Coins have been falling at high percentages. It brings back a popular saying in the financial markets; “there’s blood…
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’s seven-day average trading volumes have continued to remain low, as the seven-day average trading volumes only reaching $3 billion. This comes on the heels of the digital asset seeing declining volatility in the market. The bitcoin trading market had seen a marked shift in trends as the average trading volumes remain at yearly lows.…
Bitcoin has had a miserable couple of months since hitting a new all-time high this year. The asset recently broke the $30K resistance level last week and fell down to $28K. Before promptly recovering back up over $30K and trending upwards towards $34K. This is a critical resistance point for bitcoin. Breaking this price could…
Elon Musk has revealed that Space X, his rocket company, owns and continues to hold bitcoin. Musk was on The B Word conference to talk about bitcoin and other cryptocurrencies, alongside well-known personalities in the crypto space like Twitter CEO Jack Dorsey, and CEO of Ark Invest Cathie Wood. The trio was also joined by…
The unmoved supply of bitcoin continues to grow despite declining prices. This has various implications for the digital asset, with the major one being the volume of available supply in the open market. For most bull rallies in the past, this unmoved supply had remained low, declining at points where investors dumped their bags to…
Known Bitcoin whale JOE007 compared current market trends to November 2018 trends. Calling it November 2018 vibes. This was in reply to a tweet that called Bitcoin at $30K the new Bitcoin at $6K, referring to the market trends of 2018 when Bitcoin crashed after the bull market ended. Replying to the tweet, Joe tweeted;…
Bitcoin accumulation patterns continue to point to the fact that the recent rally might not be ending anytime soon. Investors have continued to hoard assets as the volume of bitcoins sent to exchanges to be sold off or traded falls below the accumulation rate. Outflows from exchanges have continued to exceed inflows into exchanges. Signaling…
Bitcoin has so far enjoyed a good amount of success these past years, and so it is not surprising that investors want to continue to believe that the digital asset will continue its growth spurt. But what could very well be faith in the market might also be a denial of the obvious, which is…