Bitcoin (BTC) took off with its mainstream appeal since around mid-2017. Since that time, the market price of BTC has seen ups and downs, with at least a dozen dramatic days of appreciation or crashes.
Altcoins at Risk of Being Wiped Out in Value
Looking back, betting on BTC prices brought an upward daily move in about 64% of instances in the past two years. However, the exact size of the gains remained unpredictable. Recent analysis shows how days in the green and in the red were distributed in the past two years.
Bitcoin showed marked periods when earnings were virtually guaranteed. Then, there were bear markets that erased almost all previous gains. Now, BTC has entered a mixed stage, where there is no clear trend.
For Bitcoin, “buying the dip” has been a tool to make use of temporary lows, though the strategy did not always work during the 2018 bear market. But in comparison to other coins, BTC gains were a much more certain bet.
To compare, XRP had a short, concentrated rally in late 2017, and has made losses on most days since the start of 2018. Ethereum (ETH) has also been unraveling, with no lasting discovery in the past two years.
But there were also worse-case scenarios. Touching ZCash (ZEC) on any day since its inception has been a personal finance disaster, as the coin kept unraveling. It does not help that ZEC started trading with unrealistic, pumped prices above $5,000, and has dumped ever since. Other assets are a mixed bag, and some are anomalies.
ChainLink (LINK) has made a long series of gains after the start of trading – but the last quarter of 2019 saw the price sink more often, without compensating the losses. LINK has attracted attention but has also received criticism the price action may be concerted pump activity.
In Hindsight, Bitcoin Becomes Best Investable Asset of the Decade
Timing the market is almost impossible, but in hindsight, altcoin investments remain riskier, and holding onto the assets means a higher chance of entering a deep downward price spiral. On the other hand, buying bitcoin lows and holding for a few months has turned into a relatively successful strategy for BTC.
Bitcoin is additionally the most profitable asset of the decade, outpacing all other asset classes as its price rose up from nothing.
BAML has a list of best/worst asset classes of the decade:
* Best: Bitcoin $1 in 2010 = $90,026 today
* Worst: Myanmar Kyat $1 in 2010 = $0.004 (spot) today.
* (For comparison: US equities $1 in 2010 = $3.46 today)
— Carl Quintanilla (@carlquintanilla) December 13, 2019
BTC is trading at 00 as the end of 2019 comes closer, and the past quarter showed the coin remains unpredictable, with gain and loss cycles coming more rapidly. For now, the benchmark crypto has abandoned the periods of large-scale continuous appreciation, and bulls and bears more often battle it out within a range of a few hundred dollars.
What do you think about the performance of bitcoin in the past two years? Share your thoughts in the comments section below!
Images via Shutterstock, @carlquintanilla The post appeared first on Bitcoinist.com. origin »
Quick Take Glassnode data reveals a substantial decrease in Bitcoin (BTC) holdings on the Coinbase exchange. Over the last 30 days, a notable 85,000 BTC have been withdrawn from the platform, marking the second-largest net outflow on record for a 30-day period.
BTC has shot up in the last 24 hours, recording double-digit gains and hitting the $40k mark just three days after pulling back to $30k. This uptick was certainly a surprise as many analysts called for a pullback below $30,000, or even said that “this bubble has popped” and called for another 85% retracement, which […]
The post BTC hits $40k just three days after a massive dip appeared first on Invezz.
During the last seven days, Grayscale Investments purchased 17,100 BTC or $182 million worth of bitcoin using today’s exchange rates. The company’s bitcoin position is now close to 450,000 BTC worth roughly $4.
Cryptocurrency markets have been climbing higher in value as coins like BTC have gained over 19% during the last 90 days. However, many other digital assets have seen much larger gains and BTC dominance has been sliding downwards consecutively for the last 14 days.
Bitcoin (BTC) has had quite a quiet past few days, flatlining in the low-$7,000s in the wake of Christmas. Analysts say that despite this lull, the cryptocurrency is starting to show signs of wanting to break higher.
Bitcoin has incurred multiple bouts of bullishness over the past several days and weeks, with each rally resulting in a strong rejection that leads the cryptocurrency to fully retrace its gains. This pattern occurred again today, when BTC surged to highs of nearly $7,500 before incurring a strong and swift rejection.
Bitcoin has been facing some turbulent price action over the past several days and weeks, surging to highs of $7,700 this past weekend before hitting a region of resistance that has sparked a firm short-term downtrend that has led BTC down to its support in the lower-$7,000 region.
Is the bottom in? Since Bitcoin (BTC) fell precipitously to $6,600 late last month and $6,400 just days ago, analysts have been asking if the leading cryptocurrency has finally found a price bottom after a multi-month downturn.
Bitcoin price has fallen back around 7,000 after surging 19% in the past five days climbing to $7,645 level. At the time of writing, BTC/USD has been trading at $7,354 with 24 hours loss of 2.27%, as per Coincodex while managing the daily trading volume of $357 million. While the price is struggling to make […]
Over the past few days, Bitcoin (BTC) has started to show signs of life, surging as high as $7,700 on the morning of Dec. 23. As of the time of writing this, the cryptocurrency is changing hands for $7,300, up nearly 15 percent from the brutal $6,400 low put in last week.
Bitcoin (BTC) has been caught in a firm uptrend over the past several days, which has primarily been the result of the massive upwards momentum that was sparked when it tapped lows of $6,400 earlier last week.
At long last, Bitcoin (BTC) has started to show signs of life. Over the past 48 hours, the cryptocurrency has pressed higher, moving past the tight range in the $7,100s it was stuck in for days. Related Reading: CME Futures Data: Institutions Still Wary Despite Bitcoin’s Bullish Signs By Monday morning, the cryptocurrency was trading as.
Next week, Craig Wright is set to receive the keys for more than 1 million bitcoins, the crypto community is becoming impatient to see whether the self-proclaimed Satoshi Nakamoto will deliver on its promise.
Some four days ago, a Bitcoin analyst going by “Velvet” posted the chart below. In it is depicted BTC’s price action for the past 18 months, a Fibonacci Retracement of the $3,150 to $13,800 move, two trendlines, a moving average, and a vertical date marker for December the 22nd.
After days of no price action, Bitcoin (BTC) has started to show signs of life. The leading cryptocurrency broke higher on Sunday morning, pushing past the $100 range that had defined Bitcoin’s price for the better part of three days.
Following the recent bout of turbulence experienced by Bitcoin and the aggregated crypto markets, BTC has been caught within a firm and tight trading range that has led it to consolidate for the past several days.
Over the past few days, Bitcoin has strongly outperformed altcoins, especially Ethereum and XRP. On Wednesday, when BTC was trading 8% down on the week, both ETH and XRP — the second and third-largest cryptocurrencies by market capitalization, respectively — were down nearly 15% since the weekly open, crushed under the pressure of BTC volatility.
Ethereum (ETH) has been facing bearish price action over the past several days and weeks, which comes about concurrently with a recent and ongoing Bitcoin recovery that has allowed BTC to put significant distance between its current price and its recent lows.
Bitcoin has seen quite the week, trading at $6,400, $7,400, and everywhere in between over the past seven days. As of the time of writing this, the cryptocurrency’s price has settled at $7,200, flatlining as investors decide in what direction BTC will head next.
Bitcoin (BTC) has tended to look “boring” in 2019. But the coin has regular, dramatic price moves, exceeding 20% per day. This behavior has continued since BTC moved into the mainstream. Bitcoin Surprise Moves Happen Despite Overall Low Volatility Bitcoin saw volatile days from 2017 until now, with 20 occasions of price moves above 20%.
In the last two days there have been two critical posts published against the Bitcoin Satoshi’s Vision network (BSV). On December 17, Binance Research published an allocation mining report that analyzed the mining activities of BTC, BCH, and BSV and the research detailed that BSV miners are mining irrationally to protect their investment.
Bitcoin (BTC) has had a volatile past couple of days, with bears orchestrating a violent sell-off that sent it as low as $6,400 before buyers stepped up and catalyzed a major relief rally that sent the crypto back up to the $7,000 region.
With the Bitcoin mining reward halving about 150 days away, speculation still swirls as to what effect this important occurrence in Bitcoin’s ongoing existence will have on the market. Historically, mining reward halvings have usually contributed to rapid expansions in the BTC market, but this time around, there are many new developments to consider.
Once again, Bitcoin (BTC) has started to slip. After trading above the key $7,000 support for days on end, the cryptocurrency slipped on Monday, tumbling to $6,800, then $6,700 on Tuesday. Right now, bears still seem to be in full control of the crypto market, having pushed BTC from $14,000 to $7,000 over the past […]
The post Bitcoin price may collapse below eight-year growth curve; can bulls retake control? appeared first on CryptoSlate.
On Monday, the Bitcoin (BTC) price started to falter. After trading above $7,000 for days on end — a consolidation that forced volatility levels to hit multi-month lows— the cryptocurrency slipped on Monday morning, falling from $7,100 to $6,800 in three five-minute candles, catching many traders with their proverbial pants down.
Bitcoin (BTC) has just lost the key support of $7,000 after trading above this level for over a week. This marks the first bout of volatility the cryptocurrency market has seen in weeks and, as such, may imply that a larger move in the downward direction may take place in the coming days.
The top three cryptocurrencies by market cap, Bitcoin, Ethereun, and XRP, entered a stagnation phase that extended for the past 24 days. The low levels of volatility could be a signal that these cryptocurrencies are due for some price action.
On November 25, 2019, the Bitcoin price reached a low of $6618 and immediately reversed — reaching a high of $7913 after four days. It has been decreasing since. The decrease has taken the shape of a descending wedge.
The Intercontinental Exchange has just announced its first block trade of the newly offered Bakkt bitcoin monthly options contracts submitted to ICE Futures US. First Block Bitcoin Options Trade According to the announcement the Bakkt Bitcoin Options settle into the underlying BTC monthly futures contract two days prior to expiry.
Digital currency prices have slumped again as the entire crypto market capitalization has dropped below $200 billion. At press time, most of the top digital assets are down a few percentages after gathering some gains over the last few days.
Over the past few weeks, Bitcoin (BTC) has finally started to slow, establishing $7,000 as support and $7,800 as heavy resistance; the cryptocurrency hasn’t broken above or below those boundaries for over 10 days.
A legendary long term bitcoin price technical indicator could pave the way for brighter days ahead next year. Bitcoin Price Poised For Big Move The short term picture for BTC is pretty grim. Since its peak this year the digital asset has corrected 47% to current prices.
A popular analyst, using technical analysis tools, says that in the coming days, bitcoin may break up to $ 9400. Based on the graph of bitcoin prices, the analyst The Cryptomist concludes that in the coming days it can grow significantly.
In 23 days, the infamous self-proclaimed Bitcoin inventor Craig Wright will allegedly receive 1,100,111 BTC from a trust purportedly held in Seychelles. In fact, many Wright supporters and BSV proponents wholeheartedly believe Wright will “gain complete ownership of the trust,” and to a few of these individuals, the funds could be used to bring the […]
The post 23 Days Until a Bonded Courier Supposedly Delivers Keys to $8 Billion in BTC appeared first on Bitcoin News.
There are now just 25 days remaining until the annual Bitcoin Proof of Keys event, which sees potentially tens of thousands of bitcoin owners withdraw their BTC from their exchange wallet to an address where they control the private keys.
As reported by NewsBTC just days ago, the opening month was harrowing for Bitcoin (BTC) for one reason: the open of the December candle for the cryptocurrency’s price triggered a “sell” signal on the Market God v7 indicator, designed by crypto analyst Thies.
After facing a period of sideways trading within the lower-$7,000 region for the first few days of December, Bitcoin (BTC) has incurred a massive increase in its volatility, which led it to surge all the way up to $7,800 before retracing back to $7,200, before once again surging.
In a sudden move, Bitcoin jumped to $7,772 level on Bitstamp. The world's leading cryptocurrency has been trading just around $7,000 after recovering from the drop to $6,500 on Nov. 25. We dropped to the lowest point in five days at $7,087 today only to jump $500 in a few minutes. Currently, BTC/USD is trading […]
Bitcoin (BTC) has been firmly caught within the throes of immense volatility over the past several days and weeks, with its recent bout of sideways trading ultimately resulting in a massive movement that caused a maximum pain scenario for traders.
Ethereum’s price action has been strikingly similar to Bitcoin’s over the past several days and weeks, with ETH’s correlation to BTC growing stronger as the volatility seen within the aggregated crypto market ramps up.
Bitcoin’s bulls and bears have been engaged in a heated battle over the past several days and weeks, with BTC’s latest bout of volatility being a sharp downtrend that followed its recent attempt to surge past $8,000.
Ethereum has been closely tracking Bitcoin’s price action over the past several days and weeks, with BTC leading ETH to put some significant distance between its current price levels and recent lows, but the aggregated crypto markets now appear to be at risk of incurring further near-term downside.
Another week, another round of Crypto Tidbits. Surprisingly, Bitcoin (BTC), saw some relatively strong performance over the past seven days, gaining 2% according to Coin360. This came after the leading cryptocurrency tapped $6,600 in a surprise flash crash late last week, shocking investors the world over.
After making a strong attempt to break above $8,000 yesterday, Bitcoin (BTC) lost the momentum that it had been gaining over the past couple of days and has begun to descend back down towards the lower-$7,000 region.
Since bitcoin hit its all-time high (ATH) in December 2017, crypto enthusiasts have wondered if BTC will touch or surpass it again. After the ATH in November 2013 at $1,156 per BTC, it took 1,170 days to touch the next ATH at $19,891 per coin.
Some analysts agree that the current rebound could lead Bitcoin to the level of $ 8300. And they regret. For 3 days, which remained until December 1, bitcoin can rise by 10%, up to $ 8300. This is indicated by technical indicators.
Professional crypto trader Bill Adams gives a detailed explanation of Bitcoin's key features, sharing his insights into the currency's current state and the future potential it holds.
The post Will Bitcoin Price Rise in 2018? appeared first on CoinSpeaker.
