Bitcoin continues to consolidate, adding about a percent to $11850 per day, which is a minor change. It is worth noting separately the fact that bitcoin is now the leader in terms of capitalization, but not in terms of price.
haPPy August 21, 2020 Reply
The number of bitcoins on exchanges has dropped to a minimum since the fall of 2018. Currently, 2.61 million bitcoins are stored on trading floors - the lowest volume since November 24, 2018.
Cryptopath August 20, 2020 Reply
After consolidating above $12000, the next support zone will be the $13000 mark. Perhaps after that we will witness renewal of maximums in the region of $15000-17000. The probability of Bitcoin reaching the $17000 mark is 30%. Bitcoin caught everyone's attention, climbing above $ 12K. Technically, BTC found itself in the overbought area again, forcing to look for the moment for a new correction. However, the growth momentum may remain in force up to levels above $13500.
Too_Mad August 19, 2020 Reply
I associate the growth of BTC and other cryptocurrencies with the improvement in the situation in the American stock market. The S&P 500 is heading to new highs as investor interest in risky assets increases. This trend is a direct result of ultra-low rates from central banks. The correlation between bitcoin and the S&P 500 index has begun to increase since the end of last week. If the stock indicator reaches 3600 points by the end of 2020, then the value of bitcoin will be able to update the annual maximum.
Willy Chan August 19, 2020 Reply
At the beginning of this week, a new record was recorded for the average bitcoin hash rate over seven days. The value reached 129 EH/s for the first time. The previous maximum was observed at the end of July around 127 EH/s. Bitcoin hashrate continues to rise after a sharp decline to 90 EH/s in May, when inefficient miners were forced to leave the network amid declining rewards due to halving. Over the year, the hash rate increased by about 85%.
NotaPonzi August 18, 2020 Reply
Bitcoin COT data reflects the rise in bullish sentiment among large speculators. Large funds have been cutting their positions last week. Purchases and sales were reduced by 3%, which led to a decrease in the net position for a decrease in BTC by 5%. At the same time, the net position began to decline from the highest levels in the entire history of 2.5-year trading. The continuation of this trend may contribute to the growth of the cryptocurrency. The number of large buyers decreased over the week by 3 to 62. At the same time, the number of large sellers did not change (27). Some buyers began to take profits from purchases. Sellers have partially recorded losses, but continue to expect a decline in the asset. Hedgers, usually trading against the main trend, cut their net position aimed at lowering Bitcoin. Small speculators cut their purchases last week and increased sales. Small speculators were marked by an increase in bearish sentiment, but this group of traders usually does not have a significant impact on the market.
Giggly Bee August 17, 2020 Reply
As you can see, cryptocurrencies still receive the main impetus due to their growth into the traditional financial system, as well as due to the demand from institutional investors. A few days ago, open interest in bitcoin futures on CME jumped to $ 841 million. Nasdaq-listed MicroStrategy announced the purchase of 21,000 coins. It is difficult to say yet where this will lead the crypto market. However, we can say with confidence that without institutional money it would not have been possible to get out of the "crypto winter" stage.
Pingger August 15, 2020 Reply
Note the weakening of BTC volatility in July. Usually, after such a long period of low range of price fluctuations, there is a rapid strengthening of the Bitcoin rate. The first momentum we saw at the end of July will lead to a long-term strengthening trend in BTC. Among other things, Bitcoin was in the pennant for about two and a half years, but was able to break out of it at the end of July, which is also a strong argument in favor of a bullish scenario. Over the next two years, Bitcoin will show very good results and will receive the status of the best asset on the market.
Marcion_Krups August 14, 2020 Reply
The dynamics of the users' activity of the bitcoin network has a strong influence on the value of the coin. If in the near future the number of active addresses in the BTC network does not start to grow, then by the end of August we should expect a tangible decrease in the value of the cryptocurrency.
Casual Millionaire August 13, 2020 Reply
The main argument in favor of continuing the bullish trend is the long-term structure of the market. Charts with longer intervals, such as a monthly one, show an obvious breakout of a long-standing range. The bullish structure will continue if Bitcoin can stay in the $10500-12000 range.
TheSmartest August 12, 2020 Reply
A potential sell-off in stock markets poses an even greater risk to Bitcoin compared to a pullback in the gold market. There is the potential to see what we saw in the markets in March.
Marcion_Krups August 12, 2020 Reply
Bitcoin closed the weekly candle at its highest level since January 2018. A higher high on a weekly trend is a good close for Bitcoin, even after a pullback from $12100 to $10500. I continue to view this trend as bullish, although pullbacks are expected.
TheSmartest August 11, 2020 Reply
Over the past 24 hours, Bitcoin has lost about a percent to $11850. The index of greed and fear jumped during the same time by 6 points to “84”. Bitcoin is also increasingly vulnerable to a potential dollar rebound, as the cryptocurrency has shown a negative correlation with the US dollar lately.
NotaPonzi August 11, 2020 Reply
The growth of bitcoin is facilitated by the uncertain situation in the global financial markets, provoked by the further development of the coronavirus pandemic and its negative economic consequences. Many investors are beginning to perceive bitcoin as "gold in the cryptocurrency market" and are purchasing it as an alternative to traditional investment assets.
Johnny Tycoon August 10, 2020 Reply
The greed and fear index, which usually accurately reflects what is happening on the crypto market, is in the "extreme greed" area. At the end of the working week, the index is at 77 points. The closer the indicator is to “100”, the higher the chances of a correction. The index was confidently higher only at the peak of the June 2019 rally. Then the index reached the value “95”. The RSI is also in the oversold area, however, it should be noted that this situation does not mean that Bitcoin will not be able to overcome gravity.
Terzio August 8, 2020 Reply
Bitcoin has held above $11000 and continues to rise. At the moment, the weekly growth of bitcoin is almost 7%. A close of the week in the immediate vicinity of or above $12000 would be the best evidence of a favorable outlook for the crypto market. The total capitalization increased by $ 32 billion over the week, which gives rise to more and more speculations on the topic of a new rally, but one should be wary of the current dynamics, since indicators indicate that the market is overbought.
GeoTagsOff August 7, 2020 Reply
Bitcoin demonstrates near zero dynamics during the day, not supporting either bulls or bears. The digital currency market as a whole shows a tendency towards moderately negative dynamics. However, it will be premature to talk about the beginning of a reversal. The total capitalization of the cryptocurrency market also does not show any changes over the course of a day, from which it can be concluded that digital currencies took a break after an impressive rally. Investors are eyeing new triggers, and even in the event of a correction in the crypto market, this could open the door for those wishing to enter at a discount.
Torsten August 6, 2020 Reply
According to Bybt, Bitcoin's sharp weekend correction resulted in the liquidation of $1.4 billion in positions across all major crypto exchanges. BitMEX experienced a $144 million long liquidation, indicating a generally bullish investor sentiment that may now be holding a wider range in open orders. The index of greed and fear sank 3 points over the course of a day, confidently remaining in the “greed” area. The crypto market is quite successfully overcoming gravity due to FOMO, the signs of which are becoming more and more distinct.
RichardDd August 5, 2020 Reply
Bitcoin has proven that long-term sideways price trends can end in growth. The crypto market as a whole demonstrates that high volatility remains an important component of it. Price fluctuations began to attract demand from investors of all levels. According to CoinMarketCap, over the past month, the total cryptocurrency market capitalization has grown by $80 billion, or 30%, confidently surpassing $300 billion.
Peter August 4, 2020 Reply
Bitcoin tested annual highs above $12000 on Sunday morning, but then fell sharply, losing $1500 at the moment. Within a few minutes, bitcoin quotes fell to the level of $10500. All leading cryptocurrencies collapsed in sync with Bitcoin. The sharp price movement led to a cascade of liquidations of positions on crypto derivatives exchanges. On BitMEX, the liquidation volume amounted to $147 million in an hour. The total volume of liquidated positions in crypto derivatives during the fall exceeded $1 billion.
masterofpuppets August 3, 2020 Reply
Bitcoin's current growth momentum is attributed to an influx of institutional funds. The total daily volume on the major exchanges jumped 186% to $ 43 billion. Growth was shown by all sites, including CME and Bakkt, while the latter offers bitcoin futures with physical delivery of the asset. Bakkt said the number of contracts jumped to 11506 on July 28. In addition, Grayscale Investments announced an increase in the volume of cryptoassets under management by $1 billion in less than 2 weeks. All of these events could be behind the jump in the price of bitcoin to $11400.
GeoTagsOff August 2, 2020 Reply
After a 60% decline in 2014, bitcoin repeated the leap forward of 2013by the end of 2016. Fast forward four years and into the second year after a 75% decline in 2018. Bitcoin will approach its all-time high of around $20000 in 2020 if the 2016 trend repeats.
Peter_777 July 31, 2020 Reply
Levels above $ 11000 are highs in over a year, and appear high enough to neatly take profit. Bitcoin's price high in 2020 was reached at $11400, and at the moment the dynamics are similar to the situation with precious metals: in the range from a slight decline to zero. The index of greed and fear is in the "extreme greed" mode, which, according to the idea of the index, indicates an imminent trend reversal, nevertheless, bitcoin may well show growth and being in overbought technical conditions. Formally, a sell signal will be the return of the RSI to the area below 70 against the current 75.
Davidio July 30, 2020 Reply
Bitcoin broke out of the range in a sharp movement. FOMO was launched on the market after bitcoin took important resistance levels and a sharp exit from the sideways. On the other hand, the current positive sentiment may still not withstand the pressure of large investors fixing profits.
Cookie 4 Rookie July 29, 2020 Reply
Against the backdrop of the Bitcoin rally, the number of open positions in futures on the CME regulated exchange reached a record $ 724 million. According to the skew analytical service, the indicator jumped against the background of a significant increase in trading volumes. The Bakkt platform has also set a record for the largest trading volume for its deliverable Bitcoin futures. The strengthening of the bitcoin rate led to a surge of interest for this cryptocurrency.
Gerhard July 29, 2020 Reply
Glassnode expects bitcoin's current rise above $10000 will be different from the last two. Bitcoin reached $10000 several times in 2020 along with the rise of Glassnode's metric called Bitcoin Days Destroyed. However, this time the experts did not see an increase in the indicator.
RichardDd July 28, 2020 Reply
Bitcoin destroys another correlation: this time with the stock market. Bitcoin is now switching to precious metals. The surge in demand for gold, silver and bitcoin reflects growing concern among market participants that the current surge in the stock market could be just as deceiving as in March.
Crypto Dragon July 28, 2020 Reply
Bitcoin has once again crossed the $10K threshold and, supported by growing trading volumes, changes hands at the start of the week for $10200. Over the past day, Bitcoin has added almost 6%. The Greed and Fear Index followed the rise in the price of bitcoin, and at the moment the index is in the "greed" area, approaching the overbought levels. The same is demonstrated by the RSI, which with a sharp movement moved into the overbought area. Now we have to understand how optimistic the intentions of the buyers are and how patient the bears are.
SilverLine July 27, 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...