Bitcoin Reviews & Comments 2020

On the technical side, the RSI for the BTC / USD pair shows significant room for growth. Therefore, at the moment, the deeper the likely decline, the larger the buyback of the asset can be.

Mr.Right   September 9, 2020  

Since September 4, Bitcoin has been balancing around $10K with repeated attempts to dip below that threshold. The trading volume of Bitcoin remains stable at $33 billion. Such a sideways trend does not bode well for Bitcoin and the rest of the crypto market, since the sluggish struggle is not for a new maximum, but for a potential trigger for breaking the trend towards growth in principle. Nevertheless, even in the event of a sharp deterioration in the situation and a fall towards $9K, crypto market participants do not consider such a development of the situation catastrophic for Bitcoin, recalling the sharp recovery of the market after the March collapse.

TooSmart   September 9, 2020  

We may have seen a Bitcoin rally for the past year or two. When it ends, we may see a massive price decline. The collapse will be significant and the price could drop to at least $ 150. It's incredible. This situation would be a blow to Bitcoin.

Crypto_Bro   September 8, 2020  

Bitcoin was able to rebound after breaking through the most important technical and psychological level of $10000, but the momentum is clearly not enough to develop a confident reversal. At the beginning of the working week, bitcoin is trading about $10100, demonstrating almost zero dynamics per day. With bitcoin falling below $10000, trading volume jumped 150% compared to levels during the sideways trend. Thus, the market experienced a large-scale flow from one hand to another: some were fixing short-term profits, while others were entering with a 20% discount from the August levels. The Greed and Fear Index for Bitcoin and the largest cryptocurrencies finally went down sharply, reflecting what is happening on the crypto market, once again confirming its relevance.

Warrennnn   September 7, 2020  

Bitcoin is balancing at $10K, and a failed attempt to confidently break through it launched 2 processes at once. On the one hand, the most short-term speculators left the market, but, on the other hand, the fall under $ 10K attracted the interest of those who sought to open positions with some discount to last month's prices. Along with the fall in the price of bitcoin, trading volumes have skyrocketed.

DBan   September 7, 2020  

The index of greed and fear for bitcoin and large cryptocurrencies after a long stay in the area of ​​“greed” fell by 39 points, switching to the “fear” mode. It should be noted that the indicator very accurately worked out what was happening on the crypto market, not succumbing to the influence of minor corrections. Together with bitcoin, all altcoins also rolled down, so the trading volume (+ 17%) in the stablecoin Tether (USDT) network, quite expectedly, increased. The effect of the correction was to some extent amortized by the transfer of funds to stablecoins. It is stable cryptocurrencies that help compensate for market falls. Unlike 2017, when the majority simply withdrawn funds from the crypto market, now investors can park their money while the storm dies down.

Peter_777   September 5, 2020  

A market crash is unlikely, despite the outflow of funds to exchanges. Miners do not leave the market, but are simply looking for opportunities to sell cryptocurrency. Bitcoin began to rise from the end of July and has not yet dropped below $10000. Bitcoin's success is possibly associated with an increase in the flow of investments in the DeFi sector.

Reds4Life   September 4, 2020  

Bitcoin is losing ground amid aggressive sales from miners, experts from CryptoQuant say. Mining pools have dramatically increased the volume of cryptocurrency on exchanges, which has increased the pressure on the market. The pools Poolin, Slush and HaoBTC brought 1,630 bitcoins to trading platforms for a total of up to $ 18.5 million. This is the largest influx of coins to exchanges in recent years, the researchers note. CryptoQuant CEO Ki Yang Joo announced the beginning of a "war" between miners. In his opinion, the pools were divided into two camps. On the one side, those who want to raise the price of BTC and are in no hurry to sell coins. And secondly, those who are satisfied with the current situation, but fear the arrival of new miners if BTC continues to grow. That is why they provoked such a fall in the coin.

ComputerScientist   September 4, 2020  

The Greed and Fear Index for Bitcoin and major cryptocurrencies is still in the "extreme greed" area, which often heralds a corrective sell-off. On the contrary, the RSI for the BTC / USD pair is moving further and further from the overbought area, showing a particularly sharp decline over the past few days. If BTC manages to stay near current levels or bounce back to a broken support area around $11500, chances are that the initiative will shift into the hands of buyers.

l00k$_1ntere$1ng   September 3, 2020  

The activity around altcoins has increased significantly, however, it cannot be said that this is harmful to bitcoin. Now the crypto market is pulling BTC. The global economy will end the year in conditions of maximum uncertainty by historical standards, which may be for bitcoin's benefit.

TheSmartest   September 2, 2020  

Buyers helped Bitcoin touch $ 12K again. Bitcoin held above the threshold for about 7 hours, but then began to retreat again. However, even here the pressure was not significant, and by Tuesday morning, Bitcoin is changing hands at $ 11,850. So the careful tug-of-war game continues. The next touch of the next most important psychological and technical level is a direct positive for the market, indicating the space for further positive dynamics. During the last day, along with the price increase, there was also a 14% increase in trade volume.

Know1tAll   September 2, 2020  

Bitcoin has recently shown a tendency to sideways trends, while activity around altcoins has increased significantly. This is fully reflected in the bitcoin dominance index, which continued to decline to 56.9%. This is largely due to the DeFi hype, as well as the growth of leading altcoins, including Ethereum (ETH), which has grown by almost 8% in the last 24 hours alone.

BB Jones   September 1, 2020  

Bitcoin ended August, which turned out to be calm, with a gain of 3% over the month, around the $11700 mark. Bitcoin ended August with growth for the first time in three years (in August 2017, the rise was 66%). BTC climbed to its 13-month high of around $12400 on August 17, but has since hovered in a narrow range between $11100 and $ 11,800. Bitcoin's rally from July lows around $ 9,000 has stalled along with weakening institutional investors and macro traders.

Reds4Life   September 1, 2020  

At the start of the new business week, Bitcoin is showing a moderately positive trend, continuing to recover after moving to the lower border of $11K. The coin changes hands for $11700, while the trading volume is also stable at about $19 billion. Over the week, bitcoin also showed zero price dynamics, waiting for new triggers. Despite the anemic dynamics, the greed and fear index is in a "greedy" state, indicating the existence of a sell-off prospect. The RSI index more accurately reflects the current price dynamics, however, these indicators rarely go in opposite directions, so there is a possibility that the first may be more accurate in this case, and it is worth considering the probability of bitcoin reversal in the direction of correction. While an important support level has held out, bitcoin closed the last workweek above $11500, which is supporting the benchmark cryptocurrency and altcoins.

NIcky J1   August 31, 2020  

44% of all bitcoins have not been driven in the last 2 years. This fact is perceived from the positive side, as it indicates the readiness to hold the asset in anticipation of growth. It is likely that the third halving is a very significant reason for whales not to get rid of the asset even at the current higher price levels (+ 57% since the beginning of 2020). The total capitalization of the cryptocurrency market is very far from the levels that we saw in late 2017 - early 2018, nevertheless, that jump had all the signs of a bubble, while now capitalization is growing based on the established infrastructure.

ComputerScientist   August 29, 2020  

Bitcoin is still in zero price action and is trading around $ 11,400. The daily trading volume slightly adds about $ 1 billion. The minimum point per day was fixed at about $ 11,200, after which the coin again began to attract buyers' demand. Over the past 7 days, Bitcoin has shown a decline of almost 4%. With the exception of Chain (CRO), the TOP 10 digital currencies are in the red, losing 4% - 18%. Previously, such sideways almost always ended in sales, and in this case, the market can still roll back to the $10K area in order to attract those who want to enter after a small pullback at these levels.

Casual Millionaire   August 29, 2020  

The views of the crypto market participants are now with some concern directed to the future. A little over a year ago, bitcoin stalled while growing above 12000. It stalled near these levels even now. A pullback below will lead to the formation of a double top pattern with a possible lower point of decline at 4000. However, it is more likely that this time the advantage will be on the side of the bulls.

Know1tAll   August 28, 2020  

Peter Jabber, lead strategist at financial giant Fidelity Investments, opens a new Bitcoin-based index fund. The corresponding notification was sent the day before to the US Securities and Exchange Commission (SEC).

Dietrich   August 27, 2020  

Bitcoin nevertheless switched to a correction state, breaking through an important support level at $ 11,500. However, hitting a low of around $ 11,100 at some point, Bitcoin attracted buyers. As a result, on Wednesday morning, Bitcoin demonstrates a 3% decrease per day to $ 11,400. Although Bitcoin has stopped the decline around $ 11K, selling pressure cannot be ruled out. Following bitcoin, all other cryptocurrencies went into correction.

Ilari0000n   August 27, 2020  

61% of the total bitcoin supply has remained stationary for over a year. Cryptocurrency holders do not want to sell it and are in the mood for long-term storage of the asset. May halving also plays a role. Miners adapted to the new working conditions and began to sell less bitcoins. BTC exchange balances have updated their lows, which suggests that market participants are waiting for the rally to resume.

Reds4Life   August 26, 2020  

The third halving of bitcoin not only positively affects market sentiment, but also pushes to calculate the possible benefits. Bitcoin has shown impressive growth rates in the past 2 times. What can be the theoretical growth this time? Several scenarios similar to past halvings are laid in ChartsBTC, and within their framework, growth can reach $ 340K - $ 720K. Of course, analysts themselves admit that such calculations are more likely hopes than calculations.

MufeyDufey   August 26, 2020  

The process of hashrate growth and computational complexity has a dual nature of its impact on the crypto market. On the one hand, miners' confidence always translates into market prospects. On the other hand, if it seems erroneous, the same miners shutting down their equipment can provoke an even more significant domino effect when the market corrects.

Mvea   August 26, 2020  

Two conditions will put the scenario with the growth of bitcoin into question. The first is if BTC drops below $10500 and cannot get back. Second, if the bitcoin rate falls below $11500 and remains below this level for more than a week. Volatility will remain weak for at least one month. During this time, we will observe the BTC consolidation. The forecast is based on historical data. A similar situation was observed in May-July 2020.

Val-ly   August 25, 2020  

The volatility in the crypto market has eased, although after the recent spurt of BTC above $12000, many traders expected the positive trend to continue. The bitcoin rate returned to the growth phase again. The bitcoin price has consolidated above the support level of $11400-1500. This makes it possible to rise to $11900, where resistance has formed. If it is overcome, the next target will be the $12200 mark. BTC has consolidated above the $11600 support level, which has acted as resistance since 2018. This is a positive signal, and it speaks in favor of a continuation of the uptrend.

Warrennnn   August 25, 2020  

Large speculators increased their net position for selling contracts for bitcoin by 0.48 thousand contracts to 3.59 thousand. Large speculative players increased their net position for selling after a weekly reduction, and have been increasing it for 5 weeks out of the last 7. The net position exceeded the record level recorded two weeks earlier.

TooSmart   August 23, 2020  

Bitcoin was unable to stay above $12K, however, the correction did not become large enough to push the coin below $11500. For the first time in recent years, the Greed and Fear Index began to show a decrease. Over the past 24 hours, it has dropped by 5 points, having switched from “extreme” to just “greed”. The RSI for the BTC / USD pair is moving away from the overbought area with a sharp downward movement.

Torsten   August 22, 2020  

CryptoQuant continues to record a decline in sales from bitcoin miners. This behavior reflects the desire of mining pools to wait for higher prices for cryptocurrencies, in order to start dumping coins later.

john r   August 21, 2020  

The current situation of bitcoin resembles the situation of 2016, that is, preparation for a historical breakthrough. Bitcoin demand will increase as global inflation accelerates. The main advantage of cryptocurrency is its limited emission. At the same time, there was a trend towards investors' refusal from short-term speculation in assets. In addition, Grayscale Investments points to a record high activity of bitcoin addresses. The BTC network continues to expand, leading to an increase in the number of daily transactions.

Fabi0   August 21, 2020  

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