Tag: bitcoin (btc) adoption

Jul 25 2021

Bitcoin Recaptures the 50-day MA as Twitter Sentiment Turns Bullish

Bitcoin seems to have recaptured the 50-day moving average as support Bitcoin is now firmly above the $34k price area, trading at the $34,720 at the time of writing Bitcoin's weekly close tonight will provide more information as to whether its bullish trajectory can be sustained Twitter sentiment surrounding Bitcoin has returned to bullish territory and could have entered a slight FOMO phase...

Jul 24 2021

Bitcoin Supply On Crypto Exchanges Begins to Drop as BTC Reclaims $33k

Bitcoin supply on crypto exchanges has once again started to drop, almost equaling January lows Bitcoin outflows from exchanges have exceeded inflows by 2,333 BTC in the last 7 days Elon Musk and 'The ₿ Word' Bitcoin conference is one reason BTC is bullish once again Jack Dorsey stating that Bitcoin will be a big part of Twitter's future, is another fundamental reason...

Jul 20 2021

Bitcoin’s Address Growth Plateaus as BTC loses $30k Support

The growth of Bitcoin addresses has hit a plateau phase Bitcoin's daily active addresses have also dropped from April's peak of 1.366 million There are currently 845k daily active Bitcoin addresses, a drop by 38% from the aforementioned peak Bitcoin has lost the crucial $30k support to post a local low of $29,278 A loss of the $28k support will open the door...

Jul 18 2021

Bitcoin Could Bottom at around $14k to $15k – BTC Analyst

Bitcoin could bottom at around $14k to $15k Bitcoin also has a probability of bottoming at the 50-week moving average The 50-week MA is providing support at current levels around $31k Whichever scenario plays out, beginning to accumulate Bitcoin is not a bad idea $31k is the Bitcoin level to watch during the weekly close Bitcoin could bottom out at around $14k to...

Jul 16 2021

Bitcoin’s Hash Rate Originating From China Falls Below 50%

Bitcoin miners based in China now control less than 50% of the total BTC hash rate Hash rate originating within China is dropping as the government continues to crack down on Bitcoin mining The United States is the biggest beneficiary of the migration of mining away from China Bitcoin's hash rate has also started to rebound after the massive dip due to China...

Jul 15 2021

BTC Analyst: Bitcoin is Decentralized Gold, it Removes Gold’s Failures

Willy Woo is of the opinion that Bitcoin is decentralized gold He also adds that over time, the gold standard has failed with the subsequent introduction of fiat Traditional gold is also centralized hence Bitcoin removes the failures of Gold Bitcoin's $30k continues to be the level to watch moving forward Bitcoin's $20k is the next level of macro support if $30k fails...

Jul 14 2021

Bitcoin Addresses Growth and Metrics ‘Look Terrible’ – BTC Analyst

Bitcoin's daily active addresses have halved since BTC's most recent all-time high of $64,854 Bitcoin whales who sold at the top in mid-April are yet to start accumulating BTC New address growth on the Bitcoin network has dropped to levels last seen in early 2018 All these metrics negate what some traders and analysts have been posting about Bitcoin having bullish on-chain metrics...

Jul 11 2021

Bitcoin (BTC) Sentiment Remains Negative, Nears 3-year Lows

Crowd sentiment towards Bitcoin continues to dip to negative territory Bitcoin sentiment is at negative levels last witnessed in October 2020 At current rates, it could keep falling to negative levels last seen in June 2018 The Crypto fear and greed index is at 20, its lowest since April 2020 Bitcoin's price action remains uneventful with $33k being the level to watch during...

Jul 10 2021

7.3% Of Bitcoin’s Circulating Supply is Held on Crypto Exchanges

7.3% of Bitcoin's circulating supply is held on crypto exchanges This amount translates to roughly 1,533,235 Bitcoin Coinbase and Binance lead the rest in Bitcoin holdings Bitcoin exchange outflows have once again resumed despite the bearish environment Bitcoin outflows point towards renewed accumulation and a possible floor at current levels However, Bitcoin is still in bear territory trading below the 50-day, 100-day and...

Jul 09 2021

Twitter CEO: Square is Building a Bitcoin (BTC) Hardware Wallet

Jack Dorsey has confirmed that Square is working on developing a hardware wallet for Bitcoin The team at Square is requesting community participation in the project Square is also hiring for key roles in hardware, software, security and business Jack Dorsey has proposed an 'assisted self-custody' solution centered around the internet on mobile Square also has plans for the Bitcoin hardware wallet to...

Jul 07 2021

Bitcoin is Becoming a Decentralized Reserve and Store of Value Asset

Bitcoin is on track to becoming a decentralized reserve and store of value asset Bitcoin might become a good companion for portfolios which also have low-yielding bonds The world is leaning towards a digital future and Bitcoin is at the forefront China banning BTC mining makes the Bitcoin network more decentralized and strengthening the network The team at Bloomberg has released the July...

Jul 01 2021

Bitcoin S2F Creator: The Next 6 Months Will Make or Break the Model

Bitcoin closed the month of June at a value of $35,037 According to PlanB, the monthly close was at the lowest boundary of his Bitcoin S2F model Bitcoin had a similar close in January 2019 when it deviated by -61% from the model The next 6 months will be a make or break time period for the Bitcoin stock-to- flow model Bitcoin has dropped...

Jun 30 2021

China is Helping Bitcoin Remove the Last Area of Major Centralization

According to Willy Woo, China banning Bitcoin mining is helping BTC remove the last area of major centralization Banning Bitcoin mining and trading makes BTC stronger, more resilient 2021 will go down in history as the year countries, corporates, funds, and high net individuals pushed for Bitcoin adoption Veteran Bitcoin analyst, Willy Woo, is of the opinion that the ongoing crackdown on Bitcoin...

Jun 29 2021

Tom Brady Admits Bitcoin Laser Eyes Did Not Work, Asks for Alternative

Tom Brady has admitted that adding laser eyes to his Twitter profile did not help with Bitcoin's price action He has since requested his followers for additional ideas that might yield better results for Bitcoin The seven-time Superbowl champion quarterback revealed he was a Bitcoin bull in mid-May when he added laser eyes to his Twitter profile picture Bitcoin is once again trading...

Jun 28 2021

BTC’s Block Interval Hits an 11-yr High, Block Confirmation at 23 min

Bitcoin's time between blocks has hit an 11 year high The average confirmation time on the Bitcoin network has also risen to 23 minutes The Bitcoin network is scheduled for a mining difficulty adjustment in 4 to 5 days Bitcoin's difficulty will drop by 23.50% and due to the ongoing BTC mining crackdown in China Bitcoin is once again above $34k with the...

Jun 27 2021

Anyone Who’s Held Bitcoin for 3.25 Years has Made Money – Pantera CEO

Bitcoin's trajectory on a macro level is generally up Anyone who has held Bitcoin for 3.25 years has made money Bitcoin has only printed one calendar year with a lower low Holders who are tempted to sell right now, are advised to resist the urge to close down positions Bitcoin has rebounded from yesterday's low of $30,151 with the weekly and monthly close...

Jun 24 2021

Bitcoin (BTC) Addresses in Profit Hit an 8-Month Low of 28M

The number of Bitcoin addresses in profit has hit an 8-month low of 28 million The percent of Bitcoin addresses still in profit has also hit an 11-month low of 74.387% Bitcoin remains in bearish territory below the 200-day moving average with a relief rally possible with the new month of July Bitcoin's 50-week moving average continues to provide a level of support...

Jun 23 2021

Bitcoin’s S2F Model Could be Invalidated if BTC Stays in the $30k Area

Bitcoin is trading at the lower boundary of the stock-to-flow model by PlanB Bitcoin has traded at this lower boundary before as was the case in March 2020 According to PlanB, his model could be invalidated if Bitcoin remains in the $30k range for a couple more months Time will tell whether the current Bitcoin environment leads to an invalidation of the model...

Jun 16 2021

Bitcoin is Trying to Move Higher, $48k to $50k its First Real Target

Bitcoin could retest the $48k to $50k range if it keeps moving higher This is according to an analysis by the inventor of Bollinger Bands, John Bollinger Mr. Bollinger however cautions that the market 'will let us know' Bitcoin has been consolidation between $39k and $41k for two days Bitcoin recapturing $42k and the 200-day moving average will restore confidence that $50k is...

Jun 13 2021

Bitcoin (BTC) is Digital Property – Michael Saylor

Michael Saylor has described Bitcoin as being digital property His description of Bitcoin comes after El Salvador acknowledged Bitcoin as legal tender He also pointed out that Bitcoin empowers billions of people with property rights, as he responded to Senator Elizabeth Warren's attack on Bitcoin The CEO of Microstrategy, Michael Saylor, has described Bitcoin as digital property. Mr. Saylor's brief and concise description...

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