Bitcoin price is in a downtrend, after spending nearly a full year in a parabolic uptrend. An indicator bearing the “parabolic” name on monthly timeframes has given a signal, that according to past instances, has always resulted in a catastrophic fall in the top cryptocurrency by market cap.

Even if the resulting selloff ends up being the weakest ever following such a signal, it still could put Bitcoin at risk of a plunge to below $20,000 per coin. Here’s why.

Remembering The Now Broken Bitcoin Uptrend Through Now
2020 was the perfect storm for Bitcoin and the rest of crypto. Talk of inflation, a supply shock, and nations in turmoil caused investors to flock with the scarce and innovative emerging ass ... Read more »

Category: News | Views: 162 | Added by: danyagames2007 | Date: 27.06.2021 | Comments (0)

Strategists are struggling to see a turnaround ahead for Bitcoin, at least for now, as the digital coin looks to consolidate above the $30,000 level.

The near-term setup is “challenging," a JPMorgan Chase & Co. team including Josh Younger and Veronica Mejia Bustamante wrote in a note Friday, while Fundstrat Global Advisors LLC’s David Grider recommended reducing risk or buying some protection.

The JPMorgan team said blockchain data suggests recent cryptocurrency sales were made to cover losses and that “there is likely still an overhang of underwater positions which need to be cleared through the market."

Bitcoin has roughly halved from a peak near $65,000 in April, hurt by a cryptocurrency clampdown in China, tightening regulatory scrutiny elsewhere and concerns that the servers underpinnin ... Read more »

Category: News | Views: 178 | Added by: danyagames2007 | Date: 27.06.2021 | Comments (0)

Following revelations from some on-chain analytics observers that Bitcoin has finally bottomed, the big bull has been swinging sideways, causing the market to panic. However, it seems that Bitcoin is in luck once again, thanks to El Salvador’s latest decision to pay citizens $30 each in Bitcoin.

El Salvador’s latest decision could rile up Bitcoin bulls once again
The result of this could result in a million-dollar purchase which is estimated to total around $190 million. The Bitcoin buy could send market prices up as observers have noted.

As the adoption of Bitcoin grows, the market will continue to benefit greatly in both market cap and price acceleration.

“Just 2 weeks ago we thought El Salv ... Read more »

Category: News | Views: 144 | Added by: danyagames2007 | Date: 27.06.2021 | Comments (0)

Bitcoin, yet again, was subject to another volatile week as its price sunk below the $30k-level on Tuesday. The cryptocurrency’s market cap fell by almost $68 billion on the same day. At press time, the market’s largest crypto seemed to be recovering from its 10.6% weekly drop and was trading around the $30k price level.  

At the time of writing, BTC’s on-chain metrics did not seem favorable. In fact, the aggregate volume of large transactions that denotes the interest of institutional investors registered a considerable decline over the past few days. As indicated by the attached chart, the press time level was previously witnessed way back in December last year. 

Additionally, IntoTheBock’ ... Read more »

Category: News | Views: 179 | Added by: danyagames2007 | Date: 27.06.2021 | Comments (0)

Let the games begin! The battle of the billionaire CEOs has a time and a place. In the blue corner, the Bitcoin maximalist, Jack Dorsey, Square and Twitter’s CEO. In the red corner, Bitcoin critic and Doge promoter, Elon Musk, Tesla and Space X’s CEO. They promise to have “THE talk,” as part of “The B Word” summit on July 21st.

Related Reading | Jack Dorsey: Square Has Plans To Create A Bitcoin Hardware Wallet

It all happened over at Twitter. Dorsey announced the event, Elon responded with a lame joke, and Dorsey showed his business initiative and invited him to have a discussion on stage. “Let’s you and I have a conversation at the event. You can share all your curiosities…” Musk laughed it off at first, but Dorsey insisted. In the end, Musk confirmed, “Very well ... Read more »

Views: 212 | Added by: danyagames2007 | Date: 27.06.2021 | Comments (0)