Bitcoin

After Monday’s market crash, concerns about the stability of Bitcoin’s bull run have emerged. Yet, Ki Young Ju, founder and CEO of CryptoQuant, a leading blockchain analytics firm, maintains a positive outlook. He suggests that, despite the recent crash, on-chain data continues to support the notion that the bull market for Bitcoin remains intact. Bitcoin On-Chain Analysis: Bullish Arguments #1 Bitcoin Hashrate The Bitcoin hashrate, which gauges the computational power utilized in mining and processing transactions, is nearing an all-time…

Bitcoin and the broader crypto market faced a notable price plunge on Monday, with the global crypto market cap losing $100 billion in valuation and total liquidations surpassing $1 billion. Interestingly, despite this so-called ‘Red Monday,’ Eric Balchunas, a Bloomberg Senior exchange-traded fund (ETF) analyst, revealed in a post uploaded earlier today that investors of BlackRock’s crypto fund, IBIT, maintained their holdings without flinching. Unshaken By Market Meltdown According to Balchunas, during this chaotic period whereby panic selling may be…

Bitcoin may be experiencing a price recovery towards the $57,000 level after a sharp 20% drop on Monday that sent the largest cryptocurrency on the market to a low of $49,000 not seen since February. Still, BTC is not out of the woods yet, as a concerning pattern has emerged on its 10-day chart.  Analysts Spot Bearish Signals According to technical analyst Ali Martinez, Bitcoin is forming a rising wedge pattern, a bearish continuation pattern often linked to further downtrends. …

Bitcoin (BTC) has begun its recovery. Now up 15.6% since its Monday low, and no small increase of $7,600 since then; Bitcoin appears to be following the recovery seen in the Japanese Nikkai 225 Index. Could this be a v-shaped recovery for both? Nikkai on road to recovery The Nikkai 225 is an index of the top 225 companies on the Tokyo Stock Exchange (TSE). Since a horrendous plunge from top to bottom of 26% over only 5 days, the…

On August 7, the Bank of Japan (BOJ) Deputy Governor, Shinichi Uchida, announced that it would maintain low interest rates despite ongoing financial and capital market turbulence. He mentioned that it is essential to continue with the current level of monetary easing. Economic Turbulence Spurs BOJ’s Low-Rate Strategy At the Financial and Economic Forum in Hakodate City, Uchida detailed the economic challenges prompting this decision. He highlighted the rapid depreciation of the dollar and a global decline in stock prices.…

The post Crypto Market Successfully Reclaims $2 Trillion Mark, Bitcoin Hits $57K, Ethereum Surpasses $2.5K! appeared first on Coinpedia Fintech News The cryptocurrency market has made a bullish recovery by adding approximately 2% in valuation within the past 24 hours. This resulted in it surpassing the market capitalization of $2 Trillion. Moreover, the market leader, Bitcoin price has recorded a jump of 2.56% with a trading volume of $47.848 Billion, a change of -49.53%. On the other hand, the ETH…

Bitcoin has led a global crypto market downturn in the past few days, with the asset down to as low as $49,751 on August 5. This significant plunge from Bitcoin has been attributed by many to the downturn in the Japanese markets. The Trigger in Japan Speaking on the crash, Nassim Nicholas Taleb, a risk analyst, author of “The Black Swan” and a well-known Bitcoin detractor, sheds light on the origins of the recent market disruptions that have rippled through to…

Bitcoin price started a recovery wave above the $55,000 resistance. BTC must clear the 100 hourly SMA to continue higher in the near term. Bitcoin started a recovery wave above the $53,500 and $55,500 levels. The price is trading below $58,000 and the 100 hourly Simple moving average. There is a contracting triangle forming with resistance at $57,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might struggle to clear the $58,000 resistance zone.…

The Bitcoin crash may be over, as a crypto trader has predicted a significant rebound for the pioneer cryptocurrency, foreseeing Bitcoin soaring to new all-time highs of $90,000. This bullish projection comes amid the recent downtrend in the price of Bitcoin, which saw a dramatic crash below $50,000 at some point over the past few weeks.  $90,000 Rebound Target Set For BTC In an X (formerly Twitter) post on August 5, crypto analyst, Peter Brandt made a bold prediction, suggesting…