Tag: bitcoin (btc) predictions

In brief: Bitcoin long term holders, aka OGs, are no longer selling after Tesla bought BTC Bitcoin old hands are extremely strong and their lack of selling, points to new highs for BTC Bitcoin has since reclaimed $60k liquidating $550 million in shorts A new all-time high by Bitcoin might just be a few days away Veteran Bitcoin analyst, Willy Woo, has pointed...

In brief: Bitcoin's 30-day rolling correlation with the S&P 500 has increased to levels last seen in March and October of 2020 Bitcoin's correlations with gold, bonds and the dollar index (DXY) have decreased Bitcoin price is currently more influenced by the global macro events BTC is currently challenging gold as an ideal hedge against inflation Bitcoin's correlation with the S&P 500 has...

In brief: Bitcoin Miners' Position Index (MPI) has been low since March 6th Bitcoin miners are now holding BTC rather than selling 90k Bitcoin options expired earlier today on Deribit, removing the anxiety of additional selling April could be a green month based on historical data Bitcoin miners are now holding their BTC rather than selling it in the crypto markets as witnessed...

In brief: Bitcoin investors holding 1 BTC or less have continued to accumulate sats since March 2018 This group of Bitcoin investors has weathered the volatility for 3 years and now own 5.2% of Bitcoin's supply Holders with 0.1 to 1 BTC increased significantly after the Coronavirus dip of March 2020 Bitcoin holders owning 1 BTC or less, have been continually stacking sats...

Summary: 117k Bitcoin Options expire this Friday, March 26th The maximum pain point for the expiry is $44k according to the team at Deribit Insights Bitcoin has lost the $55k support zone with $53k the level to watch moving forward A drop to $49k seems likely Bitcoin will undergo a big quarterly expiry of options this Friday, March 26th. According to data from...

In brief: Willy Woo has pointed out that only 7.3% of Bitcoin's supply has moved since BTC hit a $1 Trillion market cap Chances are, that the $1 Trillion market cap is supported by investors henceforth Bitcoin maintains a $1T market cap at $53,590 $55k is the level to watching during the weekly close Deribit Bitcoin options worth $5.7B expire next Friday and...

In brief: Bitcoin at a value above $58,400 is worth more than a kilogram of gold Bitcoin's market cap at over $1 Trillion has made it hard to ignore and could usher in a new phase of growth $55k is the level to watch during the weekly close News of Coinbase being fined by the CFTC might have a negative effect on Bitcoin...

In brief: Bitcoin is more sensitive than gold to inflows of fiat According to B0fA, a $93 million injection into Bitcoin would result in a price appreciation of 1% Gold would need $2 Billion to achieve a similar feat Bitcoin's price action is yet to be overheated on a fundamental level 1% of Stimmy Checks could send Bitcoin to $73k Large fiat investments...

In brief: Data from Chainalysis suggests that Bitcoin balances on exchanges have increased in the last week This is as Bitcoin struggles to maintain the $55k support area An increase in Bitcoin balances on exchanges could hint of more selling pressure as seen with the $1 Billion BTC deposit to Gemini before the weekly close $52k and $48k provide the next level of...

In brief: According to Bloomberg, the US CFTC is probing Binance on whether it allowed US residents to trade derivatives on the platform Bitcoin took a $2k nosedive from $57k to $55k as a result March 12th might be a cursed date for Bitcoin as the Coronavirus dip happened exactly one year ago The US CFTC (Commodity Futures Trading Commission) is reportedly probing...

In brief: According to Tyler Winklevoss, there is a lot of institutional money coming into Bitcoin Most of it is still sitting on the sidelines Bitcoin's price growth is 'in the second pitch of the first inning' Accumulation of Bitcoin is ongoing with exchange balances dropping by 20% since last March Bitcoin testing $60k is possible due to the market optimism injected by...

Quick summary: The Bitcoin network has settled roughly $10 Billion a day since the beginning of 2021 The BTC transactions are between actual users of the Bitcoin network including institutional investors 15,700 Bitcoin left Coinbase yesterday, March 8th Institutions are not selling any of the Bitcoin purchased in the last few months The Bitcoin network has been settling an estimated $10 Billion per...

Quick take: Bitcoin's Twitter sentiment has taken a nosedive in the month of March BTC Twitter sentiment is at its most bearish since October 1st 2020 However, the approval of a $1.9T stimulus bill might change the tide for Bitcoin Bitcoin has regained the crucial $50k support with the weekly close ahead Bitcoin reclaiming $52k and $55k would return it to bullish territory...

In brief: Bitcoin is getting harder to ignore as an investment option Bitcoin's market cap is now greater than JPMorgan, Facebook, VISA and Tesla individually Rich Dad, Poor Dad author continues to recommend Bitcoin as a hedge against possible global financial turmoil Tyler Winklevoss has also reiterated that Bitcoin is the best hedge against incoming inflation Bitcoin is getting harder and harder to...

Quick summary: Bitcoin is replacing gold in investment portfolios is accelerating Bitcoin has gained legitimacy with declining volatility and is increasingly becoming a global digital store of value $100k is the logical next threshold for Bitcoin Short-term, Bitcoin could dip to $42kdue to a weakening stock market The team at Bloomberg has released their monthly Bitcoin Outlook report in which they propose that...

Summary: Willy Woo has forecasted that Bitcoin's bull market is just getting started He cites that retail investors reentered the space in January and will continue to do so A peak in new Bitcoin users and investors is yet to be reached in the current bull cycle Bitcoin has regained $50k and could be gearing up for $52k and ultimately $55k Veteran Bitcoin...

Quick take: A recent report by Citi Group forecasted that Chainlink may gain prominence over Bitcoin The report cites the use of LINK as a token in the Chainlink ecosystem could increase as blockchain continues to thrive globally over time Chainlink is also being adopted on other networks such as Tezos and Polkadot Earlier this week, the team at Citi Group released a...

In brief: Goldman Sachs will restart its Bitcoin and crypto desk next week The investment bank's crypto desk was first launched in December 2017 around the same time Bitcoin topped at $20k Re-entry into the crypto space by the bank could signal a possible top for Bitcoin However, 'this time around it will be different' as institutions such as Microstrategy continue scooping up...

In brief: Bitcoin's SOPR indicator has seen a full reset, turning negative for the first time in 5 months The indicator points to a possible local bottom for Bitcoin The last time it fell this low, Bitcoin went from $33,400 to $57,400 The crypto fear and greed index has fallen to levels last seen in late January when Bitcoin fell to $30k then...

In brief: 25,600 Bitcoin has left Coinbase in the last week 13k Bitcoin left Coinbase on the 25th of February This shows that institutions are scooping up the Bitcoin dip with Coinbase facilitating a majority of the orders Bitcoin bullishness might be reignited thanks to the passing of a $1.9 Trillion stimulus bill by the US Congress In the past week, 25,600 Bitcoin...