Bitcoin (BTC) is seeing a tsunami of new user adoption as a backdrop to prices likely bottoming at around $52,000, say analysts. In a series of tweets on April 20, statistician Willy Woo led calls for calm about Bitcoin’s recent price dip and subsequent lingering $9,000 below recent all-time highs. $1 trillion cap has created…
Read more
Bitcoin (BTC) price is making a slow recovery after facing a sharp 16% correction in the early hours of April 18. While some analysts blame a 9,000 BTC deposit at Binance, others focused on the hashrate drop caused by a coal mining accident in China. Regardless of the reason behind the $51,200 low, options market…
Read more
The price of Bitcoin (BTC) was struggling to stay above $56,000 on April 20, which whale clusters pinpointed as a crucial short-term price level. Yet, the U.S. dollar index (DXY) has continued to fall in recent weeks, dropping to its lowest point in seven weeks to 90.85. Bitcoin (blue) vs. DXY (orange) Source: TradingView Why…
Read more
Bitcoin (BTC) is beginning a new week, grinding back to $60,000 as the shock of a weekend price crash settles. After dropping to as low as $52,000 in a snap sell-off event, Bitcoin has spent the past two days slowly recovering its losses. What’s next? Cointelegraph presents five factors to consider as a new trading…
Read more
Bitcoin (BTC) fell to sudden lows of $52,000 on April 18 in a timely reminder of how price action often follows hash rate. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView China, US rumors lead the BTC sell-off Cointelegraph Markets Pro and TradingView showed a brutal hour for Bitcoin bulls everywhere early on Sunday as the market…
Read more
Holger Zschaepitz, a market analyst at Welt, emphasized that Bitcoin (BTC) is nearing the valuation of Google, as it heads toward $1.5 trillion in market capitalization. Currently, as of April 17, the market cap of Bitcoin is hovering at around $1.12 trillion as the entire valuation of the crypto market remains comfortably above $2 trillion.…
Read more
Bitcoin (BTC) has seen a classic indicator of a coming bull run pass a historic milestone as miners commit more and more resources to its future. According to data from on-chain monitoring resource Glassnode on Friday, Bitcoin’s network hash rate has passed total exahashes per second for the first time in its history. Hash rate…
Read more
Dogecoin (DOGE), the meme-based altcoin which has become a favorite talking point of Elon Musk, has doubled in 24 hours to hit all-time highs of $0.29. DOGE/USD 1-hour candle chart (Bittrex). Source: Tradingview DOGE leaves others in the dust Cointelegraph Markets Pro and TradingView showed DOGE/USD outperforming other major cryptocurrencies by an order of magnitude on April 16.…
Read more
Bitcoin (BTC) investors in Canada have two more outlets for BTC exposure this week — and can now even bet on a price crash. In a press release on April 14, Horizons ETFs Management confirmed that its two new exchange-traded funds (ETFs) would start trading on the Toronto stock exchange Thursday. Horizons: Bitcoin has “polarizing views”…
Read more
Newer traders might be unaware of this, but investors can also borrow BTC to margin trade a short position, thus betting on the price downside. This is why some analysts monitor the BTC, and USDT total lending amounts to gain insight into whether investors are leaning bullish or bearish. Interestingly, data shows that even as…
Read more