Blog: Bitcoinist.com

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Author Bitcoinist, Cole Petersen, Nick Chong, Tony Spilotro, Yashu Gola,
Stats Has published 289 posts about cryptocurrency

Oct 23 2020

How Bitcoin Breaks $20K: The Answer Lies in Gold-M2 Correlation

Oct 23 2020 Published at Bitcoinist.com under tags  bitcoin btcusd gold m2 money supply

Bitcoin bulls have repeatedly claimed that the cryptocurrency price will hit $20,000 shortly. While many analysts believe it would happen, some disagree. Popular crypto bull Joe007 said earlier this week that Bitcoin would face liquidity problems if it surges towards $20K. He noted that...

Research Boutique: Bitcoin Chart Is “Echoing” Previous Exponential Surges

Oct 23 2020 Published at Bitcoinist.com under tags  bitcoin price btcusd btcusdt xbtusd

Bitcoin has undergone a strong rally over the past few days, rallying from $11,200 to $13,100. Nautilus Research thinks that Bitcoin's chart is forming patterns and signals last seen prior to previous exponential bull runs. He isn't the only one that thinks that Bitcoin will soon see an exponential rally higher. Others that expect...

Oct 22 2020

Bitcoin Creates Strong Tailwind as Traders Rotate Capital into Altcoins

Oct 22 2020 Published at Bitcoinist.com under tags  bitcoin btcusd btcusdt xbtusd

Bitcoin’s price has begun consolidating following its immense surge seen throughout the past 48 hours Yesterday afternoon, it rallied as high as $13,200 before it found any strong resistance that forced it lower Unlike the trend seen during fleeting upsurges, Bitcoin did not retrace that far into its recent rally following the rejection at these highs This indicates that bulls are in control...

$900 Imminent? Analyst Claims Ethereum is Ready for an Explosive Move Higher

Oct 22 2020 Published at Bitcoinist.com under tags  altcoin price ethbtc ethusd ethusdt

After days of underperformance, Ethereum’s price is finally catching up to that of Bitcoin The second-largest digital asset saw a massive overnight rally that led it all the way up to highs of $415 before it found any resistance This surge marks a notable climb from its recent lows of sub-$370 that were set just a few days ago It has also reinvigorated...

Trail of Destruction: Bitcoin’s $13,000 Rally Liquidated $360m in Short Positions

Oct 22 2020 Published at Bitcoinist.com under tags  bitcoin btcusd btcusdt xbtusd

Bitcoin’s price has stabilized at just below $13,000 following its immense surge seen yesterday The cryptocurrency has been flashing continued signs of strength as of late, and its ability to maintain its recent gains is decisively bullish While looking back on the aftermath of yesterday’s move, its magnitude and influence over the market grows clear According to one data platform, a total of...

Bitcoin Sets New All-Time High In These Global Currencies

Oct 22 2020 Published at Bitcoinist.com under tags  bitcoin brazil btc btcusd btcusdc

Bitcoin price blasted yesterday over $1,000 to a high of $13,200 and has reignited interest in the crypto market once again in a major way. A new 2020 high was set on the BTCUSD pair, but a higher peak over the 2019 top has yet to be reached. Elsewhere in the world, however, the leading cryptocurrency by market cap has just set a...

Bitcoin Sets New Yearly High After PayPal Adds Crypto: What’s Next?

Oct 22 2020 Published at Bitcoinist.com under tags  bitcoin price btcusd btcusdt xbtusd

Bitcoin has surged over the past few days amid strong fundamental events. The cryptocurrency currently trades for $12,800, just shy of a new year-to-date high. The coin is up over 8% in the past 24 hours alone, outperforming most altcoins and digital assets. The latest leg higher in the price of Bitcoin seems to be related to news that PayPal is embracing crypto....

Ethereum Price Breaches Pivotal Resistance Level—And That’s Big for Bulls

Oct 22 2020 Published at Bitcoinist.com under tags  ethbtc ethereum ethereum price ethusd

It's been a good day for the crypto market, with Bitcoin, Ethereum, and altcoins posting strong gains. The two leading crypto-assets have gained approximately 8% each over the past 24 hours, which is the best performance in many weeks. Ethereum is expected to move higher as fundamental and technical trends align. One crypto-asset trader pointed to the significance of Ethereum's recent move higher....

Investors are More Interested in Bitcoin Than Stocks: TD Ameritrade

Oct 22 2020 Published at Bitcoinist.com under tags  bitcoin btcusd btcusdt gold paypal

A news segment on TD Ameritrade Network portrayed Bitcoin as a better investment than the US stocks. Lead anchor Oliver Renick, at the end of his six-minute-long market wrapup, claimed that investors are more interested in owning Bitcoin than the equities. He said the cryptocurrency has "a lot to go" since it is the only asset that performed bullish on the positive US...

PayPal Didn’t Shoot Bitcoin Above $13,000, Analyst Explains Why

Oct 22 2020 Published at Bitcoinist.com under tags  bitcoin btcusd btcusdt paypal tether

On Wednesday, Bitcoin logged a supersonic bull run, hitting $13,000 for the first time in 15 months. The rally started after PayPal announced its foray into the cryptocurrency sector, leading analysts to believe that the $138 billion global payments firm drove the latest Bitcoin adoption....

Bitcoin Rips Higher To $13,000 on Continued Fiscal Stimulus Excitement

Oct 22 2020 Published at Bitcoinist.com under tags  bitcoin price btcusd btcusdt xbtusd

Bitcoin has continued to explode higher over the past 24 hours. The coin now trades for $12,750, around 7% higher than it was just 24 hours ago. This latest leg higher in the Bitcoin price can be pinned to two fundamental news events: PayPal adding crypto and more fiscal stimulus coming. Bitcoin Rallies Higher as Stimulus Talks Continue...

Oct 21 2020

Here’s Why This Break Above $12,000 is Different from Past Bitcoin Rallies

Oct 21 2020 Published at Bitcoinist.com under tags  bitcoin btcusd btcusdt xbtusd

Bitcoin’s price has seen some significant momentum throughout the past few days The cryptocurrency is currently trading at the highest price it has been at since before the summer rally came to an end This momentum appears to be the result of a confluence of different factors, including growing BTC adoption amongst corporations Just today, PayPal announced that they are planning to rollout...

Ethereum Lags Behind Bitcoin, But Analysts Think a Big Move is Coming

Oct 21 2020 Published at Bitcoinist.com under tags  altcoins ethbtc ethusd ethusdt

Ethereum’s price has been significantly underperforming that of Bitcoin as of late While the benchmark cryptocurrency is now trading at fresh yearly highs, Ethereum is still down nearly 30% from its 2020 highs This underperformance is quite surprising to investors, as this latest Bitcoin rally is one of the few that has occurred in full isolation Altcoins have not been able to match...

PayPal Forays into Crypto Market as Bitcoin Price Explodes Past $12,400

Oct 21 2020 Published at Bitcoinist.com under tags  bitcoin btcusd btcusdt xbtusd

Bitcoin is now trading at the highest price seen in well over a year, with bulls aiming for $13,000 as its strong uptrend gains momentum Today, news regarding PayPal’s foray into the crypto market provided the benchmark cryptocurrency with a serious boost Its price surged all the way up to highs of nearly $12,500 before meeting some resistance, but it does appear to...

Your Wallet in 2030 Will Be Full of Free Money

Oct 21 2020 Published at Bitcoinist.com under tags  blockchain money trade

Ten years ago, humanity wrestled with a generational crisis named COVID-19. In the wake of the pandemic and its cataclysmic fallout, seismic changes occurred and a wellspring of ideas burst forth. The weaknesses of our society laid bare, people were freed to think differently about the social contract. Conversations around the function of money and who controlled its minting began, triggered by the...

Nearly 99% Of Bitcoin Ownership Has Been Profitable, Data Reveals

Oct 21 2020 Published at Bitcoinist.com under tags  bitcoin btc btcusd btcusdt crypto

Bitcoin is the best-performing mainstream asset in 2020, next to stocks, gold, and anything else. But according to new data, owning the top crypto asset by market cap at any point in nearly 99% of its existence would have resulted in profitability. Here's how high the price of Bitcoin will need to reach before it reaches 100% profitability once again and what that...

Bitcoin’s Latest Leg Higher Brings It Above a Crucial Macro Level

Oct 21 2020 Published at Bitcoinist.com under tags  bitcoin price btcusd btcusdt xbtusd

After bottoming at $10,200 earlier this month, the cryptocurrency has ripped higher. Bitcoin now trades just shy of $12,000. Bitcoin will need to close above $11,828 on a weekly time frame if it is to confirm its macro bullish trend Bitcoin Crosses Pivotal Macro Level Bitcoin has pushed strongly higher over the past two weeks. After bottoming at $10,200 earlier this month, the...

Bitcoin Overbought Above $12K But Analysts Understate Drop Fears

Oct 21 2020 Published at Bitcoinist.com under tags  bitcoin btcusd btcusdt rsi xbtusd

Bitcoin rose above $12,000 on Wednesday for the first time since August 2020 but signaled an imminent price correction as it entered a so-called "overbought" area. The readings on Bitcoin's 14-day Relative Strength Index pushed above 70, a level above which an asset's...

Bitcoin Crosses $12K as Pelosi and Mnuchin Near Stimulus Deal

Bitcoin rose on renewed optimism for the second coronavirus stimulus package, while the US dollar plunged. House Speaker Nanci Pelosi said a bill for the compromised aid is on the way after confirming a fruitful, 45-minute telephonic conversation with Treasury Secretary Steven...

On-Chain Ethereum Trends Favor Bulls Despite 5% Drop From Local Highs

Oct 21 2020 Published at Bitcoinist.com under tags  ethbtc ethereum ethereum price ethusd

Santiment, a blockchain analytics firm, recently shared that Ethereum's NVT is still "bullish" The NVT is the network value to transaction ratio, which is seen as a price-to-earnings ratio for blockchain networks. Data also shows that investors are accumulating ETH en-masse, with coins leaving exchanges at a rapid clip. Ethereum...

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