A price rise above $12K would be the best way to support the positive sentiment in the market and direct new investments towards Bitcoin. In the meantime, we can observe the process of BTC consolidation near the occupied levels.
acc0untant October 14, 2020 Reply
Bitcoin has been losing less than a percent over the past 24 hours and changing hands around $ 11,400, remaining within the $ 11,300- $ 11,600 price range. In the short term, Bitcoin needs to gain a foothold above $ 11,500 in order to target $ 12K directly. Since the end of last week, the first cryptocurrency has received positive impulses due to the news about investments in Bitcoin from the institutional side.
l00k$_1ntere$1ng October 14, 2020 Reply
The sideways price trend could not last forever, and sooner or later the cryptocurrency would have to choose a direction. Square's investment in Bitcoin in the amount of $ 50 million could have been the trigger.It is difficult to call it a large investment from the company of $ 80 billion. Nevertheless, Bitcoin in this case receives more reputation benefits, since the situation generally indicates interest in cryptocurrency from outside Big money and institutions. Recent news of a $ 425 million investment in Bitcoin by MicroStrategy also confirms this.
Binary_Organism October 13, 2020 Reply
Historically, bitcoin has gone up for 12-15 months after each halving, rewriting all-time highs. While the current Bitcoin environment is different, crypto market participants are still betting on the leap based on this event. The crypto market is also looking to the future with enthusiasm due to the confidence of the miners, who continue to keep the hash rate at the all-time high.
TheSmartest October 13, 2020 Reply
Bitcoin has been adding about a percent in the last 24 hours and changing hands for $ 11,500. At some point during the night the price jumped to $ 11,700, but selling pressure prevented the upward momentum from strengthening. The growth of the reference cryptocurrency took place against the background of an increase in the trading volume, which additionally “cements” the positive price dynamics. Bitcoin capitalization has grown by $ 2.5 billion per day. Crypto market participants are already trying to estimate the probability of Bitcoin's “no return” below $ 11K, and the market sentiment is increasingly bullish.
Jimmy Chow October 13, 2020 Reply
At the end of last week, Bitcoin began to recover its positions quite confidently. At first, the coin broke through $ 11K and stayed near the lower boundary of this level until early Saturday morning. Then the price of BTC jumped to $11400, but this happened on weekends and with reduced trading volumes, which is exacerbated by the weekend in the US, where not the current Monday is not a business day. Price dynamics indicates a possible technical nature of the rebound. At the start of the new business week, Bitcoin holds positions around $11400.
Val-ly October 12, 2020 Reply
Despite periodic pullbacks, over the long term, Bitcoin is still set to renew highs. Several factors support the positive trend. The first factor that strengthens BTC is the decline in bitcoins on exchanges. Investors prefer not to sell coins at current prices and are waiting for the growth of the cryptocurrency. This strategy creates conditions for the resumption of the BTC rally, according to Coin Metrics. The second positive factor is the growth of the Bitcoin MVRV indicator, which tracks the profitability of investments in cryptocurrency. This indicator is now moving along the same trajectory as in 2016-2017. The third positive factor is the continuing growth in the number of large holders of cryptocurrencies or so-called "whales". They become active during periods of heightened volatility. First of all, this applies to the moments of the fall of bitcoin.
Philosopher October 12, 2020 Reply
Bitcoin COT data reflects an increase in bearish sentiment among large speculators. Large funds last week increased their positions after the monthly expiration of futures. Sales increased by 7%, purchases - by 9%, which led to an increase in the net position for a decrease in BTC by 5%. At the same time, the net position began to grow from the minimum levels for the last 2.5 months. The continuation of this trend may contribute to the decline in cryptocurrency. Small speculators increased their purchases and reduced sales last week. Small speculators were marked by an increase in bullish sentiment, but this group of traders usually does not have a significant impact on the market. Open interest began to rise after two weeks of noticeable contraction, which may encourage more active movement.
BestNameEver October 10, 2020 Reply
Bitcoin fluctuated slightly in price for most of the week, but by the end of the week he refuted the phrase “what does not grow, falls,” which is often used in relation to cryptocurrencies. By the end of the working week, Bitcoin made another attempt to grow towards $ 11K. It seems that momentum began to dry up on the hikes to $ 10,900, however, the growth attempt has improved the situation with altcoins, which duplicate and exceed the dynamics of bitcoin.
Fabi0 October 10, 2020 Reply
The activity of bitcoin miners continues to increase, as evidenced by the steady growth of the hash rate. This week the figure has risen to 170 exaches per second (EH / s). This is a new historical record. After the May halving (a reduction in the reward for mining a block), the computing power in the bitcoin network has grown by about 40%. The growing hash rate is strengthening the security of the blockchain. Before the halving, the activity of miners reached a historical maximum, but then the hash rate collapsed due to a massive shutdown of equipment due to a drop in revenue for mining BTC. However, in the summer, miners adapted to the new working conditions and computing power began to grow again.
Philosopher October 9, 2020 Reply
Bitcoin made another attempt to grow, but lost momentum on the approach to $ 11K. Over the past day, the benchmark cryptocurrency has been growing by more than 2%, and this dynamic is supported by a 73% increase in trading volume. Against this background, the capitalization of the first cryptocurrency again exceeded the threshold of $ 200 billion. Bitcoin's growth spilled over to other cryptocurrencies. Altcoins within the TOP-10 grow by 3-7%. The growth of Bitcoin is associated with the news about the investments of the payment platform Square in the first cryptocurrency. The company, founded by the head of Twitter, Jack Dorsey, bought 4,709 bitcoins worth about $ 50 million. Here, we can talk about the psychological effect rather than the size of purchases.
Val-ly October 9, 2020 Reply
Bitcoin is approaching the end of the working week with little change in price. The negative events of the past such as Trump's illness and the lawsuit against BitMEX have played out their potential. At the moment, the crypto market is experiencing a shortage of new triggers. Despite the weak dynamics, the Bitcoin Dominance Index rose 1.2% over the week. This is the result of a spill-over of funds from altcoins as the markets become more alert. Traditionally, BTC is considered the best bet when looking for the following triggers.
Marcion_Krups October 8, 2020 Reply
Bitcoin's record low volatility could be followed by aggressive growth. This has already happened in the past. The likelihood of a rally increases if the bitcoin volatility index drops to 20%. At the moment, this indicator is at the lowest level in the last 23 months. According to CoinMetrics, BTC's 30-day volatility indicator has dropped to 43%. The last time the same trend was observed in the middle of this summer. In July, the minimum range of BTC price fluctuations was replaced by a rally, which resulted in a rise in the price of bitcoin by more than 11%. However, if the volatility turns out to be significantly below 20%, then most likely it will end with a rollback of the cryptocurrency.
Val-ly October 8, 2020 Reply
The key driver of the rise in bitcoin prices is the dollar. If its quotes continue to fall, this will help the growth of the cryptocurrency as well as it did in 2017.
FortyN1nety October 7, 2020 Reply
Over the past four years, Bitcoin has risen in price from $1000 to $10000. If this scenario repeats itself, Bitcoin could reach $100000 by the end of 2025. According to the agency's analysts, the long-term strengthening of the bitcoin exchange rate is fueled by fundamental supply and demand factors. To date, 90% of bitcoins have already been mined by miners. The limited emission of coins is one of the most important drivers of growth in the value of a cryptocurrency. Taking into account the fact that demand for this instrument from institutional investors is increasing, it is possible to predict that the upward dynamics of BTC movement will continue in the coming years. Bitcoin still has a chance of repeating last year's famous June rally this year with possible targets around the $14000 mark.
RealSatoshi October 7, 2020 Reply
Bitcoin is crawling towards $ 11K, adding about a percent per day. As of Tuesday morning, the first cryptocurrency is changing hands around $ 10,750. The gradual upward dynamics in recent episodes was cut off by rather sharp sales. The current cycle is accompanied by increased trading volumes. The index of greed and fear for Bitcoin and the largest cryptocurrencies has grown over the past day by 5 points to 47, being in the “neutral” level. The RSI for the BTC / USD pair is also in neutral territory.
l00k$_1ntere$1ng October 6, 2020 Reply
Bitcoin closed September with a decline of 8%, which could not but affect the income of miners. According to Coin Metrics, they are down 11% compared to August. This is unlikely to force miners to forcefully sell their accumulated coins. The scenario where we see the sale of coins and the shutdown of ASIC miners can only happen if Bitcoin falls to $ 5K- $ 6K, and the coin will not be redeemed for a long time. While Bitcoin was declining, analysis by The Block showed that September was the second record month for confirmed Bitcoin spot trading volumes in 2020, showing $ 169 billion.
Proto_Plasma October 5, 2020 Reply
Analysts expect bitcoin growth to resume soon. This is indicated by three important stages in the strengthening of the BTC rate. Within two weeks, bitcoin will be able to break above $ 11,000. In about a couple of months, the cryptocurrency will reach $ 12,000 and can renew the 2020 highs of about $ 12,500. the so-called Metcalfe method is used. Many analysts believe that capital will soon begin to return to bitcoin amid a weakening of the hype around the DeFi market.
Marcion_Krups October 5, 2020 Reply
In September, Bitcoin lost more than 10% in price. The DeFi sector could not help but have a negative impact on the dynamics of Bitcoin this month, as the main focus was on the new stars of the crypto market, who rapidly broke into the list of leading cryptocurrencies. Nevertheless, the initial excitement may already be declining, and investors' attention will return to Bitcoin by the end of the year.
l00k$_1ntere$1ng October 3, 2020 Reply
News of the illness of the President of the United States and his wife caused a shock wave in all markets at once. The crypto market suffered as early as Thursday night, and it is likely that the elimination of risky positions in general will hit the cryptocurrency market as well.
Warrennnn October 3, 2020 Reply
Large speculators have reduced the net position for the sale of contracts for bitcoin by 0.44 thousand contracts to 2.04 thousand. Large speculative players are reducing the net position for selling for the second week in a row, and for 4 weeks out of the last 6. The net position was the lowest since July 21. Small speculators have reduced their net buy position for bitcoin contracts by 0.31 thousand contracts to 2.11 thousand. Small speculators have also reduced their net buy position for 4 weeks out of the last 6. The hedgers liquidated the entire net buy position for bitcoin contracts (67 contracts) and opened a net sell position for 70 contracts. The net position turned negative for the first time in trading history. Open interest fell by 1.30 thousand contracts to 8.03 thousand. The bearish index of large speculators (the ratio of the number of contracts to sell to the number of contracts to buy) dropped by 0.11 to 1.50 over the week.
masterofpuppets October 3, 2020 Reply
Bitcoin has been losing about 4% over the past 24 hours and is trading at $ 10,400. Almost all altcoins were in the red, responding to the curtailment of risk positions in all markets. The Greed and Fear Index for Bitcoin and the largest cryptocurrencies showed a decrease by 4 points to 41 per day, responding moderately to what was happening on the market. The RSI for BTC / USD has been declining for the fourth day, but is far from oversold.
Val-ly October 2, 2020 Reply
Bitcoin plunged to weekly lows of around $ 10,500 after unsuccessful attempts to break through to $ 11,000. Bitcoin declined, despite the rise in gold prices and positive sentiment in the stock market. Bitcoin ended September without breaking the resistance at $ 10,900. Analysts doubt that a break above $ 11,000 will take place in the coming days.
FortyN1nety October 2, 2020 Reply
According to a study by the CryptoQuant service, the number of bitcoins on the balance sheets of exchanges over the past year has decreased from 2.8 million to 2.4 million. During this period, users withdrew about $ 5 billion in this cryptocurrency from most trading platforms.
Kelsey Bing October 1, 2020 Reply
The fourth quarter of 2020 could be a stage of more confident growth in the value of bitcoin. September was not very successful for cryptocurrencies - many popular coins have lost their value. 93% of assets were in the red, bitcoin lost 8% in a month. However, in general, the third quarter turned out to be successful for the first cryptocurrency - BTC added 17% according to its results. Historically, since 2014, the last quarter of the year has been successful for Bitcoin on three occasions out of six years, with a maximum gain of 210% in 2017.
Val-ly October 1, 2020 Reply
Bitcoin changed slightly in price per day, trading at $10750. However, Bitcoin is growing by almost 3% over the week. During the day, the trading volume of BTC decreased by 14%, nevertheless, it still remains at levels of about $50 billion, which is above average. New triggers for the stock market and the dollar can instantly echo the dynamics of Bitcoin. Bitcoin stays above $10K for over 60 days, which, coupled with increased trading volumes, speaks of increased confidence in current levels. Bitcoin is known for its volatility, but this is more likely to be said about short-term volatility, when an asset can rise or fall by tens of percent during the day. But these days are becoming less and less.
T-Bone September 30, 2020 Reply
There are two key factors that create the conditions for a new breakthrough for Bitcoin: The first is the growing hash rate of the BTC network. Since January 2020, the amount of computing power used to mine cryptocurrency has grown from 98 exaches per second (EH / s) to 136 EH / s. The second factor stimulating the strengthening of BTC is the high activity of wallets with a different number of coins. The increased transaction activity in the bitcoin network almost always signals the imminent resumption of the rally in the crypto market.
FortyN1nety September 29, 2020 Reply
Despite another unsuccessful attempt for Bitcoin to go up, it is now less volatile than Tesla stock. Although it is generally believed that it is hardly possible to find an asset with a more volatile price on the market. Bitcoin has lost about 7% since the beginning of the month, while Tesla shares have lost 15% over the same period. The Greed and Fear Index for Bitcoin and the largest cryptocurrencies grew by several points to 45 per day, approaching the neutral zone, which may indicate a short-term nature of the current price pullback. Within 2 months, the bears did not manage to push Bitcoin below this level for a long time. Although the phrase “what does not grow, falls” is relevant for cryptocurrencies, in these conditions of global turbulence and lack of confidence in any direction in principle, the volatility of Bitcoin and cryptocurrencies in general has ceased to be perceived as something extraordinary.
Anthon10 September 29, 2020 Reply
The first cryptocurrency in the world, created by the Japanese programmer Satoshi Nakamoto in 2009, is at the top of the rating. Today it is the most popular virtual currency on the market and although its legal status may vary in different countries, bitcoin transactions are allowed in Japan, Canad...