It’s possible that many people have already forgotten that Bitcoin’s (BTC) price closed 2022 at $16,529 and the recent rebound and rejection at the $25,000 level could raise concern among certain investors. Bears are pushing back at the $25,000 level and there has been multiple failed attempts at the level between Feb. 16 and Feb.
Market Analysis
Bitcoin (BTC) stayed lower at the Feb. 24 Wall Street open as United States macroeconomic data showed inflation biting back. PCE sparks fresh doubts on inflation Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it traded in a narrowing range around $23,800. The pair attempted to reclaim $24,500 the day prior, but it
Our weekly roundup of news from East Asia curates the industry’s most important developments. Hong Kong moves bullish On Feb. 20, the Securities and Futures Commission (SFC) of Hong Kong launched a consultation on its proposed regulatory requirements for digital asset trading platforms. The SFC requires the licensing by June of all cryptocurrency exchanges operating
Bitcoin (BTC) can hit $10 million per coin or more as it eats 25% of the global wealth, new analysis has concluded. In a blog post released on Feb. 16, fund manager and Bitcoin expert advisor Jesse Myers revealed his own “outrageous” BTC price target. Myers: “Bitcoin could 500x over the coming decades” Bitcoin may
Bitcoin (BTC) hodlers need to watch the central banks of China and Japan as well as the United States as BTC/USD battles “huge” resistance. That was the opinion of trading firm QCP Capital, which in its latest crypto market research piece, “The Crypto Circular,” warned that Bitcoin faces risks far beyond the Federal Reserve. Bitcoin
In technical analysis, a flag pattern indicates short-term price movements inside a parallelogram coounter to the previous long-term trend. Traditional analysts view flags as potential trend continuation indicators. There are two types of flag patterns: bull flag and bear flag. While their outcomes are different, each flag exhibits five key characteristics, as listed below: The
Starting to invest in cryptocurrency does not necessarily require connecting with a bank account or spending fiat to purchase Bitcoin (BTC) and Ether (ETH). Another way to earn cryptocurrency and build a portfolio is to complete a variety of tasks on various Web3 platforms. Using decentralized applications and decentralized finance (DeFi) platforms, users can earn cryptocurrency
Research warns that Bitcoin (BTC) still lacks the on-chain volume and active address increases that characterize bull markets. In a frank appraisal of the 2023 BTC price rebound, on-chain analytics platform CryptoQuant warned that Bitcoin might be weaker than it seems. Active addresses not copying bull market paradigm As on-chain metrics flip green and some
Conflux Network (CFX) is up nearly 500% in the past week, with CFX emerging as one of the best-performing crypto assets in 2023 as China appears to be warming to cryptocurrency trading. What is Conflux Network? Interestingly, Conflux Network, also known as Shanghai Tree-Graph Blockchain Research Institute, is the only regulatory-compliant, public and permissionless blockchain in
The price of Ethereum’s native token, Ether (ETH), has surged by more than 40% year-to-date to around $1,750, the highest level in seven months. However, ETH’s price is not out of the woods yet despite several bullish cues in the pipeline, such as the Shanghai upgrade. Ethereum price bull trap? Ether’s rise aligns with similar upside
The total crypto market capitalization rejected at $1.13 trillion on Feb. 16, but there was no change in the month-long ascending channel structure. More importantly, this level represents a 43% gain in 2023, which is far from the $3 trillion level achieved in November 2021. Still, the current recovery is notable. As shown above, the
Bitcoin (BTC) trended toward $24,000 at the Feb. 16 Wall Street open after fresh macroeconomic data from the United States overshot estimates. Hot U.S. PPI data “rattles” markets Data from Cointelegraph Markets Pro and TradingView showed BTC/USD retracing some of its latest gains on the day, trading at around $24,400 on Bitstamp at the time of
Bitcoin (BTC) price rallied over 12% on Feb. 15, marking the highest daily close in more than six months. Curiously, the movement happened while gold reached a 40-day low at $1,826, indicating some potential shift in investors’ risk assessment for cryptocurrencies. A stronger-than-expected U.S. inflation report on Feb. 14 showed consumer prices rising 5.6% year-on-year,
Name: Simon DixonAnonymous: NoTwitter Followers: 109.1KKnown for: Co-founder of Bank To The Future and the dude who wrote the first-ever published book on Bitcoin. Who is this guy anyway? Simon Dixon is a true Bitcoin O.G. He is the author of the first-ever published book on Bitcoin in the world Bank to the Future, which
Bitcoin (BTC) hit its highest in almost a week on Feb. 15 as “extremely positive” economic data boosted risk asset sentiment. BTC’s price aims for $23,000 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD gaining 2.2% on the day to eye a reclaim of $23,000. Analysts were already predicting volatility, with the latest economic numbers
On Oct. 25, 2022 — about two weeks before the collapse of the world’s third-largest cryptocurrency exchange, FTX — prominent DeFi architect Andre Cronje published a foreboding article with a chilling warning on the state of centralized cryptocurrency exchanges: “Remedies under the current regulatory regime are ineffective. Most investors sign away their rights to their
The price of Ether (ETH) declined 10.2% between Jan. 8 and Jan. 10, and has since been range trading near the $1,500 level. More importantly, on a broader time frame, Ether is down 52.5% in twelve months, which partially explains why derivatives metrics were somewhat neutral after Ether’s failed attempt to break $1,700 on Feb.
Bitcoin (BTC) saw ongoing rejection below $22,000 into Feb. 14 as markets braced for macroeconomic data impact. Bitcoin vs. CPI: “Expect volatility” Data from Cointelegraph Markets Pro and TradingView showed BTC/USD failing to expand beyond $21,800 ahead of the United States Consumer Price Index (CPI) print for January. Already called the “most important” CPI release,
Bitcoin (BTC) drifted toward major liquidity around the Feb. 13 Wall Street open as the dust settled on United States regulatory news. BTC traders spread bids lower Data from Cointelegraph Markets Pro and TradingView showed BTC/USD $21,476 on Bitstamp, almost matching the weekend’s three-week lows. As analysts expected a “choppy” day prior to key U.S.
Bitcoin (BTC) saw no relief at the Feb. 10 Wall Street open as United States equities dipped further. “All eyes” on 200-day moving averages Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it tracked sideways following a volatile 24 hours of trading. Existing market weakness was compounded by an announcement from U.S. regulators
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