Bitcoin 

4 Key Similarities to Previous Bull Market Corrections

While Bakkt clients will be able to deposit their funds into the Bakkt Warehouse next week on Sept. 6, Bitcoin price is trending downwards after falling below $10,000 in the run-up to the event.  So is this already priced in or the market cycles are just repeating themselves? Let’s take a look at some key similarities to previous bull market cycles.  Similarities I & II: 100-week MA & 21-week EMA providing support BTC/USD Weekly chart. Source: Tradingview A common discussion lately on Crypto Twitter suggests that there’s a confluence between…

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Bitcoin 

Bitcoin Price ‘Not at the Top’ of New Bull Cycle Yet, New Data Shows

Bitcoin (BTC) price has far higher to go during its current market cycle if crowd sentiment takes charge, according to analysis of the Bitcoin Days Destroyed (BDD) technical metric. In social media posts Aug. 22, Hans Hauge, senior qualitative researcher at crypto investment fund Ikigai, identified Bitcoin sentiment as being similar to early 2017. That was just months before the cryptocurrency reached its all-time high of $20,000. “Bitcoin bubble tops are clearly identified with a dark red cluster of Adjusted Binary BDD,” he summarized tweeting a corresponding chart.  He added:…

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Blockchain 

Bitcoin Price Retakes $10K as Fresh Data Supports Giant $300K+ Bull Run

Bitcoin (BTC) price gained over $300 in just ten minutes on July 27 as markets rallied to take the largest cryptocurrency back above $10,000.  Market visualization. Source: Coin360 Bitcoin network holds clues to price future Data from Coin360 shows BTC/USD trending towards the psychologically important barrier after hitting local highs of $10,179 early Saturday.  The sudden uptick ended a period of losses for Bitcoin holders, who watched as the pair descended to lows around $9,580 this week. Bitcoin 7-day price chart. Courtesy of Coin360 Bitcoin price remains around 4.7% down…

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Blockchain 

Bitcoin Price Back Above $11,000 as Dip ‘Consistent’ With Parabolic Bull Run

Bitcoin (BTC) corrected as low as $10,380 before rebounding above $11,000 on June 27 as commentators remain highly bullish about the market’s potential. Market visualization courtesy of Coin360 Data from Coin360 showed the bitcoin price dipping down from recent highs of $13,800 in a pullback many had anticipated.  BTC/USD gained rapidly throughout this week and last, adding thousands of dollars over several days before resistance at $14,000 finally checked the speed of the growth.  Estimates had said the pair could go as high as $16,000 before reversing, with Cointelegraph reporting…

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Blockchain 

‘Welcome to the 2019 Bull Market’

BitMEX, the world’s largest cryptocurrency trading platform, saw record volumes across its operations as bitcoin (BTC) hit $13,000. The company reported the figures on Twitter on June 26. On Wednesday, BitMEX, which is the world’s single biggest bitcoin derivatives provider, reported more than $1 billion of open interest on the market. Trading topped $13 billion, with the number topping $16 billion across the platform’s product range.  Volume had swiftly risen above $10 billion in previous hours, leading CEO Arthur Hayes to declare any signs of the previous cryptocurrency bear market…

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Ethereum 

6 Surprising Takeaways From Bitcoin’s 2019 Bull Run

Bitcoin (BTC) rising above $10,000, $11,000 and $12,000 surprised everyone in 2019 – but the takeaways from this year’s surge makes for unbelievable reading. As Cointelegraph reported, this year’s bitcoin price action has little in common with 2017 – the last time a parabolic advance occurred. Instead, the current cycle is giving investors serious reasons to celebrate. 1. Bitcoin Already Quadrupled From its Bear Market ‘Floor’ Since November 2018, when turbulence from the bitcoin cash (BCH) hard fork hit markets, BTC/USD has recovered three times over.  At the time, the…

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Bitcoin 

Crypto Analyst Says Bitcoin Price Could Hit $100,000 During Next Bull Run

ThinkMarkets chief market analyst Naeem Aslam predicts that bitcoin (BTC) will hit somewhere between $60,000 and  $100,000 during its next bull run, according to a Fox Business interview on June 24. Aslam had previously predicted on June 17 that BTC would hit $10,000 in “a couple of weeks,” citing institutional involvement as a major driver. Bitcoin successfully reached the five figure mark on June 22, marking a record high that has not been seen in over one year. According to Aslam, the major price points to look out for now…

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Bitcoin 

Buy Bitcoin Before Next Bull Run in H2 2019, Fundstrat Analyst Advises

Bitcoin’s (BTC) price may pull back soon, but investors should leverage it to buy more, Bloomberg quoted market strategy firm Fundstrat Global Advisors as saying on May 3. In a note to clients on May 2, Fundstrat analyst Robert Sluymer said that while bitcoin’s current strength marks the start of a longer-term bullish trend, the accumulation phase is not yet over. BTC/USD has climbed throughout this week to hit 2019 highs on Friday, continuing on to achieve its highest levels since November 2018’s breakdown. “Use pending pullbacks to continue accumulating…

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Bitcoin 

AMD Earnings Surpass Target Amid Talk of Cryptocurrency Bull Market Return

United States transnational IT firm Advanced Micro Devices (AMD) over delivered on Wall Street expectations for earnings, the company confirmed in a press release on April 30. AMD, which had previously seen volatility in its performance amid challenging 2018 market conditions, posted an adjusted share price of $0.06, 1 cent above the target. The knock-on effect among investors was immediately palpable, with the company’s share price spiking more than 5% in the hours after the data was published. “We delivered solid first quarter results with significant gross margin expansion as…

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Bitcoin 

Bitcoin Transaction Volume Shows Signs of Bull Market as Quarterly Trend Reverses

On-chain transactions on the bitcoin (BTC) network hit fresh highs not seen since 2017 in April, industry newsletter Diar noted on April 30, quoting blockchain data provider TokenAnalyst. Continuing a trend that had already started at the end of March, on-chain transaction volume hit a 14-month high in April. This, Diar notes, is similar to the figure from June 2018, when the price of bitcoin circled $7,000. Far from reflecting increased real-world usage, however, the driving cause of the uptick remains trading and speculative moves. “On-chain value of both Bitcoins…

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