It all goes horribly wrong for Peter Schiff, as Twitter rejects his advice in favor of his college freshman son’s wisdom.
The vast majority of Twitter users trust 18-year-old Spencer Schiff’s investment advice over that of his father, Peter Schiff — a renowned gold bug and Bitcoin (BTC) critic.
“Against my advice my son just bought even more Bitcoin,” said Schiff, “Whose advice do you want to follow?”
According to a Sept. 7 tweet from Peter Schiff, 81% of over 46,000 Twitter users who replied to the poll would prefer the advice of an “18-year-old college freshman who’s never even had a job” over that of a man with more than 30 years’ experience as an inv ... Read more »
Bitcoin is seeing continued “intense buy pressure,” says CryptoQuant, as $10,000 proves attractive for market entrants.
A new Bitcoin (BTC) metric says that investors are still much more interested in buying than selling at $10,000.
CryptoQuant: Bitcoin has “intense buy pressure”
Dubbed “Potential BUY/ SELL Pressure,” the tool takes exchanges’ total BTC reserves and divides them by stablecoin reserves.
The resulting number provides a rough impression of trader appetite, and it is currently skewed to the bullish side.
“BTC still has intense buy pressure. Exchanges are holding more stablecoins and fewer BTC compared to the begin ... Read more »
Earlier today, the cryptocurrency showed some significant signs of weakness as it pushed below this level, with bears sending it as low as $9,900 before it saw a sharp rebound that led it all the way up to $10,100.
It has been facing some resistance here, however, with bulls struggling to garner any clear upwards momentum as heightened selling pressure persists.
That being said, one analyst is noting that there is a bull case to be made for Bitcoin despite its current weakness.
He notes that this recent drawdown could simp ... Read more »
Both big and small hodlers are amassing BTC, statistics confirm, a trend which has only accelerated as the United States prints more dollars.
More and more people are buying Bitcoin (BTC) since the 2020 coronavirus crash — and it doesn’t matter how rich they are, data shows.
Part of a series of bullish charts circulating this week, statistician Willy Woo highlighted the growth in both high and low-value wallets.
Woo: BTC whales putting money where their mouth is
According to the data, compiled by on-chain monitoring resource Glassnode, Bitcoin whale entities — wallets controlled by a single high-worth individual — keep growing in terms of how much BTC they c ... Read more »
Bitcoin price recently collapsed from $12,400 to under $10,000 after the cryptocurrency presented a near-perfect distribution pattern.
If the pattern continues, the market could form a massive head and shoulders top, with a price target of significantly lower.
Distribution Pattern Costs Crypto Investors An Arm And A Leg
Bitcoin price over the last several weeks had formed what by comparison appeared to be a clear distribution pattern. After the $2,000 plunge last week, that pattern may have been confirmed, now that the first-ever cryptocurrency is trading at around $10,000.
Rather than embarking on this massive bull run, crypto investors are licking their wounds after a surprise move that was telegraphed in a ... Read more »
After a 17% drop in the Bitcoin price within a seven-day span, options market data shows investors are turning cautious.
Market data from Skew shows investors in the Bitcoin (BTC) options market are cautiously bearish in the short term as of Sep. 8. The shift in sentiment comes after BTC’s abrupt 17% drop in seven days.
The daily chart of Bitcoin. Source: TradingView.com
Bitcoin fell below the $10,000 support level for the fourth consecutive day ... Read more »
Bitcoin briefly lost its balance near the $10,000-support on Tuesday as traders remained jittery about its recent fall from $10,500.
The BTC/USD exchange rate fell to an intraday low of $9,993, down 3.68 percent from its opening rate. The latest sell-off appeared on the backs of a stronger US dollar. The greenback rose 0.32 percent during the early morning London session.
Bitcoin is testing the support of a triangle pattern for a pullback. Source: TradingView.com
Views: 35 | | Date: 08.09.2020 | Comments (0)
Bitcoin has been clinging to the key $10,000 BTC price level all weekend as technical factors point to a short-term relief rally
Last weekend was incredibly rough for most cryptocurrency investors as massive sell-offs occurred. The price of Bitcoin (BTC) dipped below $10K several times but seems to have found short-term support at this level.
The primary question for the markets is whether a relief rally is around the corner or further downside movement is expected.
Let’s take a look at the charts to determine what might happen next.
The crypto has been trading above these levels throughout the past couple of days, but the selling pressure appears to be ramping up.
One analyst is even noting that the failed breakout that took place today has opened the gates for BTC to see a sharp downswing towards $9,600 – which will likely send shockwaves throughout the market and create a major headwind for mid-sized and small-sized altcoins.
Another trader is noting that in order for this potential near-term weakness to be fully invalidated, Bitc ... Read more »
Views: 29 | | Date: 07.09.2020 | Comments (0)
Bitcoin (BTC) hit fresh lows on Sep. 7 as renewed selling pressure saw the largest cryptocurrency return to the $9,800 range.
Cryptocurrency market daily snapshot, Sep. 7. Source: Coin360
Analyst eyes BTC price bottom at futures gap
Data from Coin360 and Cointeleg ... Read more »