Tag: bitcoin (btc) predictions

The crypto market is looking much more positive as it heads into the new year, with Bitcoin holding steady above the $20,000 level. Other crypto assets have also been doing well, most notably Dogecoin (DOGE), but the market’s biggest asset is where all eyes are on. The crypto market had been in a rut for many months, with volatility also hitting lows. However,...

It has been 14 years since Bitcoin's whitepaper was published. The crypto community is celebrating the occasion and noting how far the asset has come. Bitcoin inspired the crypto market present today, with its ethos of decentralization seen in everything from DeFi to Web3. Bitcoin first hit $1 in 2011, crossing $67,000 only a decade later. Despite many dismissals as a fad and...

Summary: South Korean authorities have launched a probe into the Bitcoin 'Kimchi Premium.' The investigations cite that the Kimchi Premium was used to make profits that were transferred abroad through illegal remittances. Authorities in South Korea have launched investigations into the famous Bitcoin 'Kimchi' premium. According to local reports, the Seoul Central District Prosecutor's Office has launched a new probe into the Kimchi...

Summary: Bitcoin has broken above the 50-day moving average with its push above $24k. BTC could rally another 18% before reaching the next level of significant resistance, around $28k. Capitulation by Bitcoin investors and miners could also be slowing down. Bitcoin has had an eventful first few days of the week, having punched through the $22k resistance level early Monday and breaking the...

In brief: The team at Grayscale has forecasted that Bitcoin could see another five to six months of downward or sideways price movement. The Grayscale team cites the traditional 4-year Bitcoin and crypto cycle as their basis for the conclusion. The team also highlighted an increase in the number of wallets holding 0.001 - 0.01 BTC, 0.01 - 0.1 BTC, and 0.1 -...

Summary: Bitcoin proponent Mike Novogratz reaffirmed his infamous "$500K in 5 years" prediction during the Bloomberg Crypto Summit. Novogratz made similar remarks back in March a few weeks before the markets tanked. Since his March comments, Bitcoin has fallen below $20,000 and bounced back above the same level. The leading cryptocurrency is in a rally of sorts at press time. Other crypto pumps...

Summary: Bitcoin has gained value from roughly $21.3k during the weekly close to a local high of $22.5k. Bitcoin is trading directly below the critical 200-week moving average, which has marked market bottoms in past bear markets. BTC gaining in the crypto markets comes at a time when the United States posted its highest inflation in 40 years at 9.1%. New Zealand has...

Summary: Creditors of Mt. Gox could soon get repaid in Bitcoin for their 2014 losses when the exchange was hacked. Mt. Gox's bankruptcy trustee currently holds 141,686 Bitcoin. The distribution and potential selling of the Bitcoin by creditors could slow BTC's recovery in the crypto markets. Creditors of the non-functioning crypto exchange Mt. Gox could soon receive repayments on their Bitcoin held by...

Summary: Timothy Peterson has forecasted that the United States might already be in a recession. If such is the case, the Bitcoin and crypto markets could drop by an additional 20 - 40%. Bitcoin's 2017 all-time high of around $20k continues to be the make-or-break level. Bitcoin and crypto analyst, Timothy Peterson of Cane Island Alternative Advisors, has forecasted that the United States...

Summary: John Bollinger has suggested that Bitcoin tagging the lower Bollinger Band on the monthly chart would be a logical place to put in a BTC bottom. However, he warned that Bitcoin is yet to tag the said Bollinger Band. MagicPoopCannon has also highlighted that Bitcoin's weekly RSI is at its most oversold than ever before. Magic also cautions against a premature declaration...

Summary: Arthur Hayes has highlighted that the Purpose Bitcoin ETF offloaded 24.5k BTC into the markets on Friday's close. Bitcoin went on to drop to the local low of $17,600 due to the selling pressure that could have been a run to trigger stop losses. The Bitcoin and crypto markets have since rallied, with BTC trading above $20k. The co-founder and former CEO...

Summary: Gemini crypto exchange co-founder, Cameron Winklevoss, believes Bitcoin below $20k seems irrational. Mr. Winklevoss also pointed out that Bitcoin's underlying fundamentals, adoption, and infrastructure remain strong. CZ also highlighted fundamentals as being crucial during both bull and bear markets. However, Bitcoin remains in a bear market with room for further losses. The Co-founder of the Gemini Crypto exchange, Cameron Winklevoss, believes that...

Key takeaways: Bitcoin miners sold 4,411 BTC in May as compared to 1,115 in April. Will Clemente of Blockware Intelligence has identified that Bitcoin miners are going offline as energy costs pressure margins. Veteran Bitcoin analyst, Will Woo, has pointed out that the typical signs of a BTC bottom are yet to show. The current Bitcoin and crypto bear market has led BTC...

Summary: The crypto fear and greed index is currently at a 6, the second- lowest since August 2018, when it fell to a value of 5. Bitcoin has lost the crucial $20k support level and hit a local low of $18,742, with the weekend possibly opening the doors to more losses. A drop below $20k could turn the Bitcoin market into one of knife-catching....

Key takeaways: Michael Saylor has explained that MicroStrategy's Bitcoin strategy factors in crypto market volatility. He also added that MicroStrategy's balance sheet is structured so that the company can continue to hold BTC through adversity. Mr. Saylor's comments come in the wake of Bitcoin slipping below the magic $21k price level that has been highlighted as an area for MicroStrategy to receive a...

Hayes highlights open interest data for BTC and ETH, which are at $20,000 and $1,000. He says the closer the market goes to those strike prices; the more will be sold, leading to a potentially large sell-off. The market crash has had an enormous impact on the growth of the market, with several companies conducting layoffs. BitMEX founder and CEO of 100x Arthur...

Key takeaways: The number of Bitcoin addresses holding one or more BTC has hit a new all-time high of 851,921. The new milestone is despite Bitcoin's bearish environment and a dip below $27k. Short-term, Bitcoin could rebound to $30k. However, a bottom might not be in, and further losses might be incoming for Bitcoin till it retests the 200-week moving average at around...

Summary: MicroStrategy's CEO has pointed out that Bitcoin's short-term volatility is irrelevant once you understand its fundamentals. According to Mr. Saylor, Bitcoin is the most certain thing in a very uncertain world. MicroStrategy CEO and Bitcoin perma-bull Michael Saylor has said that Bitcoin's near-term volatility should not be a concern. According to Mr. Saylor, the ongoing volatility in the crypto markets is irrelevant...

Summary: Arthur Hayes has released a new forecast of a possible bottom for Bitcoin at between $25k to $27k and Ethereum at between $1,700 to $1,800. Mr. Hayes also questions whether the crypto markets have already factored in multiple interest rate hikes by the US Fed. He adds that the correlations between Bitcoin, Ethereum, and Nasdaq broke down during the recent crypto market...

Summary: Three Arrows Capital co-founder Su Zhu believes that American boomers capitulated on crypto mid this month. He cites the declining prices of MicroStrategy's and Coinbase's stock in the traditional markets. Both assets remain in a confirmed downtrend that eerily resembles that of Bitcoin, thus indicating a strong correlation. The Co-founder of Three Arrows Capital, Su Zhu, believes that American boomers capitulated on...