Bitcoin 

On-Chain Metrics Pour Cold Water on Bearish Bias

Bitcoin price (BTC) has taken a bearish course, leading some analysts to call for a drop to $8,300 and a few even suggest $7,100 is where the digital asset will bottom. Over the weekend, the price attempted to recover from the dip to $8,600 and a quick pop to $9,141 excited investors looking for the digital asset to return to its previous weekly range at $9,000 to $9,500. As of now, Bitcoin is lightly supported by the 200-day moving average where it has bounced on the last four daily candles.…

Read More
Bitcoin 

Bitcoin Rallies Hardest in November — So Why Are the Charts Bearish?

So far November has started off as a relatively uneventful month for Bitcoin’s (BTC) price action but all of this could change before the weekend is over. Let’s take a quick view of the charts to see what is in store.  Crypto market data weekly view. Source: Coin360 Outside of setting a weekly high at $9,616, the price continues to trade in a tightening range, capped beneath the weekly resistance at $9,616 and supported at $9,100. The past 5 days have set a pattern of daily lower highs as trading…

Read More
Bitcoin 

China’s Gold-Backed Crypto Would Be Bearish for Bitcoin

China launching a digital counterpart of the yuan backed by gold puts Bitcoin (BTC) at a disadvantage, veteran gold bug Peter Schiff claims. In a tweet on Nov. 2, Schiff, notorious for his cynicism when it comes to Bitcoin, attempted to counter criticism of his stance by Keiser report host, Max Keiser.  Schiff tells Keiser: gold backing beats BTC “According to @maxkeiser I’m an idiot because I think #gold is better money than #Bitcoin,” he wrote.  Schiff also repeated his oft-quoted idea that Bitcoin has no intrinsic value:  “He also…

Read More
Bitcoin 

New Bitcoin Stock-to-Flow Chart Shows Bearish Periods Precede Halvings

Since Bitcoin’s (BTC) creation in 2009, the digital asset has undergone a halving event every four years, cutting the number of coins constantly entering the ecosystem in half, making it a deflationary asset.  Based on its hard-coded scarcity, and in line with its halvings, Bitcoin has risen dramatically in price over the years, giving the asset a high stock-to-flow ratio. When graphically depicted with deviation bands, Bitcoin historically has tested band levels below its median prior to halving years. Crypto analyst PlanB wrote an article in March 2019, applying Bitcoin…

Read More
Bitcoin 

Bitcoin Price Bounces Back to $8.4K but Bearish Bias Remains

Bitcoin (BTC) price has had a volatile start to the week. Asia kicked off the trading week with a 4% selloff that brought Bitcoin price from $8,050 to $7,700. The ball was then passed to the Europeans who started a rally which continued through to the New York trading session. By the end of the day, Bitcoin had rallied 8% from the bottom to highs of $8,325, which was near a 3.5% gain for the day.  Altcoins have also been moving higher on the same basis, with Ethereum and XRP…

Read More
Blockchain 

I’m Privately Bearish on Blockchain

A senior executive at Bank of America (BoA) is not bullish on blockchain despite the bank holding more patents than any other finance firm, CNBC reported on March 26. Speaking to the publication in an interview, chief technology officer Catherine Bessant said that even though the bank’s official stance on the technology was palpably buoyant, her personal views were quite different. “What I am is open-minded,” she said. “In my private scoreboard, in the closet, I am bearish.” BoA currently holds more than 80 blockchain patents, beating out the likes…

Read More
Cryptocurrency 

Genesis Capital | Crypto Lending Weathers a Bearish Market

Crypto lending firm Genesis Capital processed $1.1 billion in loans last year. This is according to the company’s recently released ‘Lending Snapshot’ for Q4 2018. Genesis Capital The figure shows the massive growth in processed loans as Bitcoin price fell over 44% in 2018. The first Digital Asset Lending Snapshot was released at the end of Q3 2018. This reported that Genesis processed $553 million in loans from the period starting March 2018. Therefore the most up-to-date figures show that “Q4 loan originations increased more than 100% in the final three months of 2018…

Read More
Blockchain 

Options Are the Answer for Dealing with ‘Bearish’ Crypto Market, Trading Platform Says

A new blockchain asset trading platform says it is determined to help investors navigate the “bearish” cryptocurrency market – and says options could enable traders to protect and grow their assets. Options are a form of financial derivative where buyers have a right to buy or sell a financial asset at an agreed-upon price for a set amount of time. However, as part of these contracts, they are not obligated to complete a transaction. According to JEX, the platform which is bringing options trading to the cryptocurrency world, this method helps…

Read More