“Cracks” Are Forming In Bitcoin’s Uptrend, Yet Investors Aren’t Worried of a Drop

“Cracks” Are Forming In Bitcoin’s Uptrend, Yet Investors Aren’t Worried of a Drop
фото показано с : bitcoinist.com

2020-6-17 13:00

For the umpteenth time in weeks, Bitcoin has bounced after almost breaking below the trading range of the past eight weeks. As of the time of this article’s writing, the leading cryptocurrency trades at $9,500. The bounce has been deemed bullish by analysts as the cryptocurrency held firm in the current consolidation range. Bitcoin recovering to $9,500 hasn’t stopped “cracks” from forming in BTC’s uptrend, though, a popular trader has said. Related Reading: The Ethereum Investment Case Has This Unexpected Achilles’ Heel There Are Cracks Starting to Form in the Bitcoin Uptrend: Analyst A prominent trader says that there are “cracks starting to show” in Bitcoin’s uptrend. He shared the chart below illustrating his point. It indicates that the flagship cryptocurrency is starting to form a bearish trend, as indicated by the red price band atop of the current price action. “While I am anticipating some upside intra-day, I have reasons to be cautious here. Cracks are starting to show and if we see a shift in the tide, I am not going to get caught offsides here,” he commented on the matter. Bitcoin price analysis from Timeless_Being (@Timeless_Crypto on Twitter). Chart from TradingView.com Investors Aren’t Worried  Bitcoin investors seem to be anything but worried, despite the expectations of a retracement as the bull trend formed after March loses its direction. Blockchain analytics upstart Glassnode reported that the number of BTC addresses holding more than 0.1 coins (~$1,000) has recently passed its old all-time high, reaching 3,054,282 addresses. This indicates strong retail accumulation and the distribution of coins amongst the crypto diaspora. Number of BTC addresses holding more than 0.1 coins shared by Glassnode Alerts (@Glassnodealerts on Twitter), the alerts bot of the blockchain analytics firm Glassnode. The growth in small Bitcoin holders come as more than 61% of the total BTC supply hasn’t moved over the past year and more, signaling a strong belief amongst investors that the cryptocurrency is poised to head higher. Altana Digital Currency Fund’s Alistair Milne recently said on the matter: “What if I told you that the amount of Bitcoin held without moving for >12 months is on course to make new ATHs (>61%) and barely changed in the March COVID panic …” Institutions Are Accumulating Bitcoin Too Institutions seem to be accumulating as well. Last week, I compiled data from Grayscale’s SEC filings and on-chain data to create the chart below. It shows that over the past 12 weeks, Grayscale’s Bitcoin Trust has accumulated half as many coins as those mined. The Grayscale Bitcoin Trust is a BTC investment vehicle largely focused on allowing institutions to safely acquire exposure to the cryptocurrency for longer holding periods. This is important as it shows that there is such strong institutional demand for BTC that a single entity is accumulating a large amount of the supply. The number of coins added to Grayscale’s Bitcoin Trust vs. the number of coins mined (past 12 weeks) by Nick Chong (@_nick_chong on Twitter). Featured Image from Shutterstock Price tags: xbtusd, btcusd, btcusdt "Cracks" Are Showing In the Bitcoin Uptrend Yet Bulls Aren't Worried

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 68782.35 (+0.08%)
Объем 24H $41.768b
Изменеия 24h: 0.06 %, 7d: -3.39 %
Cегодня L: $66916.68 - H: $68910.37
Капитализация $1360.714b Rank 1
Цена в час новости $ 9503.61 (623.75%)

weeks time bitcoin eight range trading 500

Источник: bitcoinist.com

weeks time → Результатов: 126


Фото:

Analyst: If Bitcoin Holds $8,700, the Chances of “Bullish Continuation” Are High

The past few weeks have seen Bitcoin tread on thin ice multiple times: every time the cryptocurrency rallied to $10,000, it snapped lower, often violently. This week’s attempt at the crucial $10,000 resistance was no exception: after temporarily trading above the level for all of 20 minutes, the asset began a precipitous decline.

2020-6-13 04:00


It’s Decision Time for Bitcoin: These are the Price Levels Analysts are Targeting

Bitcoin has been firmly caught within a bout of consolidation over the past few days, largely hovering within the lower $9,000 region It appears that it is decision time for the cryptocurrency, as how its ongoing period of sideways trading resolves could set the tone for where it trends in the weeks ahead This next movement could be quite drastic, as some analysts are noting that it could result in a $1,000+ candle Bitcoin has […]

2020-5-24 19:00


Analyst: Downside may be imminent for Chainlink and Tezos, April’s top crypto trades

Prior to late last week’s rally to $7,800, Bitcoin was stuck in a consolidation pattern for weeks on end, trading in a 10 percent range for what was literally weeks. During that time, two altcoins managed to break the mold, rallying as the rest of the cryptocurrency market stagnated: Tezos (XTZ) and Chainlink (LINK), the […] The post Analyst: Downside may be imminent for Chainlink and Tezos, April’s top crypto trades appeared first on CryptoSlate.

2020-4-29 04:30


Фото:

Ethereum’s Aggressive Bids are Dissolving as Buyers Grow Weak

Ethereum has seen a slight rejection from its recent highs in the time following its decline from just below $200 Analysts are noting that there are multiple separate technical factors that point to an imminent breakdown One such factor is a major decline seen in the cryptocurrency’s buying pressure, which has been dissolving throughout the past several days and weeks Ethereum has been closely tracking the price action seen by Bitcoin in recent times. This […]

2020-4-28 23:00


Фото:

It’s Decision Time for Ethereum as Analysts Eye Full Retrace of Uptrend

Ethereum has been hit hard by the recent market-wide downtrend Analysts now expect ETH to surrender all of the gains that it posted over the past couple of weeks Ethereum has been particularly impacted by the crypto market’s recent downturn, with the second largest cryptocurrency erasing the vast majority of the gains that were incurred as the result of its recent uptrend seen last week.

2020-4-22 23:00


Фото:

Bitcoin on Brink of Serious Downside as Risk of Losing Support Grows

Bitcoin is at risk of seeing further downside as it tests a key descending trendline Some top traders are warning of BTC posting major losses in the coming days and weeks In the time following the tempered signs of weakness Bitcoin showed yesterday when it dipped below its key support at $7,200, the benchmark cryptocurrency has further extended this downtrend as bulls now defending against a dip below $7,000. This weakness has led BTC down […]

2020-4-21 21:00


Fractal Analysis: Bitcoin Price Will Rocket 35% Higher Ahead of Halving

Despite the overarching risks of an economic recession, Bitcoin has performed well over the past few weeks, rallying higher and higher over week after week, shunning off bearish narratives. In fact, since the $3,700 bottom, the cryptocurrency has gained over 80%, reaching as high as $7,500 but now trading at $7,050 as of the time of this article’s writing.

2020-4-19 07:33


Investor Activity in Bitcoin Is ‘Fizzing Out’ As Market Undergoes A Black Swan Event

Earlier last month, Bitcoin broke above $10,000 that on-chain analyst Willy Woo said was the “real deal”. “Fundamental investment activity is backing this $10k breakout,” said Woo at that time. However, as we saw in the past few weeks, bitcoin has been acting like a risky asset following the stock market, going from above $10,500 […]

2020-3-10 17:14


Top Steemit employee resigns following TRON acquisition; is this the beginning of the end?

Steem has been having a rough past few weeks, with many of its problems seeming to arise in the time following the Justin Sun-led TRON’s acquisition of Steemit in mid-February. In the time following this controversial acquisition, the Steem blockchain has been rocked by multiple controversies, but it doesn’t seem to have impacted investor’s confidence, […] The post Top Steemit employee resigns following TRON acquisition; is this the beginning of the end? appeared first on CryptoSlate.

2020-3-5 23:15


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin Price Takes a Sharp Dip: Is This Just a Correction?

Bitcoin price is correcting gains from the $73,500 zone. BTC is back below the $70,000 level and showing a few bearish signs. Bitcoin started a fresh decline from the $73,500 zone. The price is trading below $71,500 and the 100 hourly Simple moving average.

Bitcoin Price Nears All-Time High: Can It Push Past the Mark?

Bitcoin price is rallying above the $72,000 zone. BTC is up over 5% and it could soon aim for a new all-time high above $73,500. Bitcoin started a fresh increase above the $70,000 zone. The price is trading above $70,500 and the 100 hourly Simple moving average.

Bitcoin Price Rallies Above $70K: Is a New High Within Reach?

Bitcoin price is rallying above the $70,000 zone. BTC is up over 5% and it could soon aim for a move above the $72,000 resistance zone. Bitcoin started a fresh increase above the $68,000 zone. The price is trading above $70,000 and the 100 hourly Simple moving average.

Bitcoin Price Targets Gradual Rise: Will the Uptrend Hold?

Bitcoin price is attempting a fresh increase above the $67,000 zone. BTC could gain pace if it clears the $68,750 resistance zone. Bitcoin started a fresh increase from the $65,500 zone. The price is trading above $67,200 and the 100 hourly Simple moving average.

Bitcoin Price Eyes Further Gains: Can It Keep Climbing?

Bitcoin price is attempting a fresh increase above the $37,000 zone. BTC could gain pace if it clears the $68,800 resistance zone. Bitcoin started a fresh increase from the $65,200 zone. The price is trading above $67,500 and the 100 hourly Simple moving average.

Bitcoin Price Could Reignite Uptrend: Is a New Surge Coming?

Bitcoin price tested the $65,200 zone before the bulls appeared. BTC is now rising and aiming for more upsides above the $67,500 resistance. Bitcoin extended losses and tested the $65,200 zone. The price is trading below $67,500 and the 100 hourly Simple moving average.