Generating

10000+ related results were found.   
Subscribe Query
Cointelegraph
Cointelegraph
followers

Bitcoin (BTC) saw continued weakness into Feb. 23 as consolidation accompanied a brief slowdown in institutional investment.  BTC/USD 1-day chart. Source: TradingView Bitcoin ETFs bounce back from day of outflows Data from Cointelegraph Markets Pro and TradingView showed BTC price action struggling around $51,000. Bulls remained caught in a narrow trading zone, in place for more than a week, as concerns surfaced over inflows to the spot Bitcoin exchange-traded funds (ETFs). These slowed considerably in recent days, with Feb. 21 even seeing a net outflow of some $36 million, per data uploaded to X (formerly Twitter) by sources including BitMEX Research. Same data in BTC terms.694 BTC net outflow on 21 Feb 2024 pic.twitter.com/mpqoo44VA2 — BitMEX Research (@BitMEXResearch) February 22, 2024 Feb. 22 saw stronger activity — net inflows of just over a quarter of a million dollars, even accounting for outflows from the Grayscale Bitcoin Trust (GBTC). “Normality resumed a $251M inflow into the Bitcoin ETFs,” James Van Straten, research and data analyst at crypto insights firm CryptoSlate, responded. Continuing on the pace of buying from the ETF operators, Thomas Fahrer, CEO of crypto-focused reviews portal Apollo, predicted that the largest of them, BlackRock’s iShares Bitcoin ETF (IBIT), would in future change BTC supply dynamics. “98% of all the #Bitcoin in existence already costs >100K if you tried to buy it,” he argued alongside a chart of IBIT holdings. “Remember that the current price is just the marginal trade. Blackrock is going to test this theory, so we'll find out soon enough.” Spot Bitcoin ETF holdings (screenshot). Source: Apollo As of Feb. 23, IBIT held 124,535 BTC ($6.35 billion), per data from Apollo’s own ETF tracker. BTC price nears "trend inflection point" Focusing on low-timeframe BTC price analysis, meanwhile, popular trader Skew captured the mood among seasoned market observers. Related: Bitcoin pre-halving ‘pullback’ calls for $45K BTC price support retest The uptrend, he concluded, remained intact, but important support levels were now coming back into play. These were the 88-period and 100-period exponential moving averages (EMAs) on the 4-hour chart at $50,017 and $49,654, respectively, along with the 18-period EMA on the daily chart at $49,645. “Currently price trades around range low & 4H 55EMA which typically is a near term trend inflection point, meaning momentum picks up soon,” part of his latest X analysis read. “Buyers & Sellers likely to fight here for control.” BTC/USD 4-hour chart with EMA data. Source: TradingView This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

2 days ago
Crypto Fever
Crypto Fever
followers

🚨🚨 Bitcoin Analysis 🚨🚨 📍Bitcoin has pumped significantly in the past few weeks, but nothing lasts forever, and markets always move in waves. 📊I am expecting a 14% crash to 44k in the next few weeks. Why? We can see that the price is now below the ascending parallel channel, which is a sign of weakness. Also, as per my Elliott Wave analysis, we have finished the 5th wave of an impulse wave. What usually follows is an ABC correction or a WXYXZ complex correction. On the chart, you can see my levels, which you can use as support or resistance (profit target or entry point). These levels are very strong, and the market should react to them. 📍Usually Bitcoin loves to bounce from 0.382 or 0.618 Fibonacci levels, and I think the bottom will be at 0.618 FIB. 📊Let me know what you think about my analysis, and please hit boost and follow for more ideas. Trading is not hard if you have a good coach! Thank you, and I wish you successful trades. #Write2Earn #TrendingTopic #BTC

3 days ago
CRYPTO PLAYERS
CRYPTO PLAYERS
followers

$BTC 4hr Chart Update today !! 1st scenerio⚡ on 4hr chart $BTC price create now inverse cup and handle shape ( that indicate price will drop from this level) 2nd scenerio ⚡ in 2nd scnerio $BTC price broke its symetrical triangle trendline and succefully retest it ( that indicates now that in comming days btc price will dump ) 3rd scenerio ⚡ in 3rd scenerion #BTC‬ trading now in a range ( 52500$-50600$ ) area from last 10 days... so if its hold 50600$ support area again then again pullback expected in its price. personal openion ⚡ according to me i am expecting now correction in #btc price for comming days📉 support area for bitcoin near me is 49000$ and 47000$ area. Follow us for more free analysis🙂 #Write2Earn #TrendingTopic #Bitcoin‬

3 days ago
U.Today
U.Today
Bitcoin (BTC) Price Analysis for February 8
17 days ago
Coinpedia
Coinpedia
followers

The post Bitcoin Halving Sparks Bullish Sentiment as Analysts Predict BTC Price Surge to $273,000 appeared first on Coinpedia Fintech News Bitcoin is set to undergo its Fourth halving, a phenomenon that has historically been associated with significant price rallies. Meanwhile, some analysts are now predicting that the world’s leading cryptocurrency could skyrocket to an impressive $273,000, citing a robust demand-supply ratio and historical market trends. Daily Investments Inflow vs. New Bitcoin  In a recent tweet post, crypto analyst Willy Woo shared some important information about Bitcoin. He mentioned that every day, around $607 million in new investments is coming into the Bitcoin network.  The #Bitcoin network is receiving an average of $607m per day of new investor demand** while this is being met by $46m per day of new supply in the form of new coins being mined. We are now 60 days away from seeing new supply being halved. pic.twitter.com/oZGkrXeFt0 — Willy Woo (@woonomic) February 23, 2024 On the flip side, only about $46 million in new Bitcoin is being created each day through mining. What makes this interesting is that we’re approaching a moment when the creation of new Bitcoin will be cut in half.  According to his analysis, this supply reduction is just 60 days away, signifying a potential turning point for the leading cryptocurrency.  However, to calculate new demand, Woo employs the change in the realized cap, a metric that reflects the cumulative price investors paid for their Bitcoin holdings. However, it’s important to know that this method might not capture all the buying and selling happening off the main Bitcoin network. MacronautBTC Arithmetic Calculation In response to Woo’s data on daily demand and new supply, MacronautBTC performed arithmetic, where the daily demand for Bitcoin, estimated at $607 million, exceeds the daily new supply by $23 million. Further, by deducting the daily new supply from the daily demand, we get a notable $584 million daily demand.  Hows my arithmetic:Assume from halving:$607M daily demand minus $23M daily new supply =$584M daily demand * 250 trading days in a year = $1.46T new ADD'L mkt cap.~every 1T in market cap is $50k in $BTC price, right? So that would be a new #bitcoin price of $123k.(cont'd) — MacronautBTC (@Macronaut_) February 23, 2024 When projected over 250 trading days, this translates to a substantial additional market capitalization of $1.46 trillion. According to MacronautBTC’s calculations, every $1 trillion increase in market capitalization corresponds to a $50,000 surge in Bitcoin’s price. Using this metric, the expected additional market capitalization of $1.46 trillion could potentially drive Bitcoin’s price to reach $123,000. Bitcoin at $273,000! Further taking a cautious approach, MacronautBTC adopts a “multiplier” method, in line with fellow analyst Willy Woo. This method suggests a potential threefold increase in Bitcoin’s value relative to the USD inflow.  By combining this multiplier with the projected additional market capitalization, MacronautBTC envisions an overall market capitalization of $5.38 trillion within a year, leading to a Bitcoin price surge to $273,000. While projections in the crypto market are speculative and contingent on various factors, MacronautBTC’s response underscores the positive sentiment surrounding Bitcoin, especially as the halving event approaches.

3 days ago
Crypto Web3 Today
Crypto Web3 Today
followers

Bitcoin (BTC) Price Analysis for February 8. BTC/USD. The rate of Bitcoin (BTC) has increased by almost 5% over the last 24 hours. On the hourly chart, the price of BTC keeps setting new local peaks. Currently, one should pay attention to the daily bar closure in terms of the $44,873 level. If it happens above that mark, the rise is likely to continue to the $46,000 area. On the bigger time frame, the rate of BTC is growing after a breakout of the $44,000 zone. If the current candle closes with no long wick, the accumulated energy might be enough for a test of the nearest resistance level of $46,516. From the midterm point of view, traders should pay attention to the weekly bar closure. If it happens near the interim level of $46,000, there is a chance to see a test of the $48,000 range by the end of the month. Bitcoin is trading at $45,367 at press time. #Write2Earn

17 days ago
Crypto Man MAB
Crypto Man MAB
followers

$BTC Big updates 🚨 In Thursday blog titled ETF approval for bitcoin the naked emperor's new clothes the European Central Bank detailed an analysis of the Bitcoin market saying that the king if Cryptocurrency has failed on the promise to be a global decentralized digital currency adding that #BTC‬ is still hardly used for legitimate transfers . Other side Bitcoin price continues to hold the $51,335 support but the depressed outlook continues to become heavier Bitcoin could make a 10% fall before the next leg up as multiple technical indicators flash bearish signs. A higher above $52,985 would invalidate the bearish thesis as per FXstreet report . Also Billionaire Tim Draper is Bullish on Bitcoin he said that In interview that in 2025 bitcoin will reach $250K. #Write2Earn #CryptoManMab

3 days ago
MianVerse
MianVerse
followers

Price Action Analysis reveals Distribution Phase is going ON. Selling of #Bitcoin by Big Whales after a significant bullish rally is termed the distribution phase and it marks the end of a bull run. After the end of the distribution phase, the crypto downtrend starts. The Game Behind Distribution? During a bullish trend, when Crypto Whales have sold most of their assets, they push the market to the distribution phase where the news is still positive and they sell the remaining portion of holding during up moves. As the price reaches the upper boundary of the price range, selling pressure is increased which drags the price toward the lower boundary. Here, they again wait for positive news to drive the price up during which they offload. When they have offloaded most of their holding, selling pressure is increased beyond a certain level which dumps the market through the bearish trend. 3 Sure Signs of the Distribution Phase:     Range bound price movement; The first sign of distribution is the price going into a sideways range bound after sufficient bullish rally. Volume; Greater volume on bearish candlesticks. Despite that, the price is unable to break the lower boundary of the price range. Candlestick Wicks penetrate the Upper Boundary of the Price range but close below the upper boundary. The Case BTC: #BTC price action has clear signs of the distribution phase. After a significant bull run (from 16k to 53k), the price has moved inside a narrow range in the last few days. Although Bitcoin price has tried to move outside this range but the selling pressure drags down. This is displayed in $BTC price chart in the form of Candlestick wicks outside this price range. Another strong sign is the test of buying pressure according to Richard Wykoff. This sign has also occurred in the BTCUSDT chart. Why it is not Mid-Cycle Accumulation: Because the buying volume is far lower. If it were an accumulation, high buying side volume should have been there on the chart. End Note: Bitcoin price has appreciated more than 2 times since the start of this Bull Run. At this stage, the euphoria of the bullish ride can override your rational thinking. The BTCUSD price chart reflects the end of the Bull Run. Trimming long-side Bitcoin positions seems a more realistic approach. Happy trading! #BTCUSDTAnalysis #dyor #Write2Earn

3 days ago
Coingabbar Analysis
Coingabbar Analysis
followers

Bitcoin remains within a significant trading range, maintaining gains above the $50,000 support zone.Currently, Bitcoin is confined within a narrow range, encountering resistance near $52,500 and finding support around $50,800.Bitcoin surged towards the $53,000 resistance level but failed to sustain and traded below $52,000 levels.Bitcoin price underwent a minor retracement, forming lower highs and lower lows, resulting in the creation of a bullish flag pattern on the daily chart.Investors closely monitor the critical $50,800 support level, as a clear break below would shift market sentiment from neutral to bearish.Bitcoin anticipates potential volatility preceding the release of the FOMC meeting minutes, which could induce significant price movements.A bullish breakout from the chart pattern requires a daily candlestick close above the bullish flag, potentially aiming for psychological levels at $55,000 and $60,000.As per Coin Gabbar analysis, #Bitcoin Price Prediction 2030 is $200,000, whereas Bitcoin Price Prediction 2040 is around $500,000. KEY LEVELS : RESISTANCE LEVEL : $52,400-$53,200 SUPPORT LEVEL : $51,300-$50,600 Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. Cryptocurrency and NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing. #BTC‬ #Bitcoin‬ #crypto2024 #DYOR🟢 #DYOR🟢 . @Coingabbar Analysis @Binance Research $BTC

4 days ago
Bit-Insight-Hub
Bit-Insight-Hub
followers

Bitcoin 14% crash to 44k is starting (levels) Technical analysis Bitcoin has pumped significantly in the past few weeks, but nothing lasts forever, and markets always move in waves. I am expecting a 14% crash to 44k in the next few weeks. Why? We can see that the price is now below the ascending parallel channel, which is a sign of weakness. Also, as per my Elliott Wave analysis, we have finished the 5th wave of an impulse wave. What usually follows is an ABC correction or a WXYXZ complex correction. On the chart, you can see my levels, which you can use as support or resistance (profit target or entry point). These levels are very strong, and the market should react to them. Usually Bitcoin loves to bounce from 0.382 or 0.618 Fibonacci levels, and I think the bottom will be at 0.618 FIB. Let me know what you think about my analysis. Thank you, and I wish you successful trades. #Write2Earn #TrendingTopic #signals #Signal #SignalAlert $BTC $ETH

3 days ago
CryptoBeat
CryptoBeat
followers

📉 Bitcoin's price dipped to $50,664 on Feb. 21, raising concerns of widespread liquidations. The decline is attributed to Bitcoin miners selling off $8.2 billion worth of BTC and a decrease in ETF inflows this week. 😬 🔍 On-chain data analysis reveals: - Miners cut reserves by 160,000 BTC between Jan. 31 and Feb. 22 - Bitcoin ETFs slowed their buying trend by 73% between Feb. 19 and Feb. 22 📊 Price forecast: - BTC may hold above $48,500 if it loses the $50,000 support level - If bullish momentum prevails, resistance may emerge at around $55,830 🤔 What do you think? Will Bitcoin hold above $48,500 or break through resistance? Share your thoughts in the comments!

3 days ago
Cointelegraph
Cointelegraph
followers

Bitcoin (BTC) has been trading sideways for the past few days, indicating a tough battle between the bulls and the bears. Will the sellers overpower the buyers and start a short-term correction, or could the buyers come out on top? That is the question on every crypto investor’s mind. Dwindling hopes of an early rate cut by the Federal Reserve have resulted in profit booking in the S&P 500 Index. That could signal a risk-off sentiment in the near term, increasing the risk of a pullback in Bitcoin and select altcoins. Daily cryptocurrency market performance. Source: Coin360 However, the dip may not change the long-term bullish view. Investors are likely to view every dip as a buying opportunity because of Bitcoin’s upcoming halving in April, which has historically been a bullish event. What are the important support levels that may arrest the decline in Bitcoin and altcoins? Let’s analyze the charts of the top 10 cryptocurrencies to find out. Bitcoin price analysis Bitcoin is struggling to sustain above $52,000, indicating that the bears are fiercely defending the level. BTC/USDT daily chart. Source: TradingView If the price slips below $50,000, short-term traders may give up and book profits. That could pull the BTC/USDT pair to the 20-day exponential moving average ($48,842). If the price rebounds off the 20-day EMA with force, it will suggest that the sentiment remains positive and traders are buying at lower levels. That will increase the likelihood of a rally above $52,000. The pair could then jump to $60,000. Instead, if the price continues lower and breaks below the 20-day EMA, it will signal the start of a pullback to the 50-day simple moving average ($44,924). Ether price analysis Ether (ETH) turned down from the psychological resistance of $3,000 on Feb. 21, indicating profit booking by short-term traders. ETH/USDT daily chart. Source: TradingView In a strong uptrend, the corrections generally last between one to three days. The crucial support on the downside is $2,717. If the price snaps back from $2,717 with force, it will indicate that every minor dip is being purchased aggressively. That will enhance the prospects of a break above $3,000. The ETH/USDT pair may then rally to $3,300. Conversely, if bears tug the price below the 20-day EMA ($2,680), it will signal the start of a deeper correction to the 50-day SMA ($2,467). BNB price analysis BNB (BNB) turned up after a brief correction and surged above the $367 resistance on Feb. 21, signaling the resumption of the uptrend. BNB/USDT daily chart. Source: TradingView The upsloping moving averages and the RSI in the overbought zone indicate that the bulls are in command. If buyers maintain the price above $368, the BNB/USDT pair could pick up momentum and surge toward $400. The first support on the downside is at the 20-day EMA ($336) and the next is the 50-day SMA ($315). The bears will have to yank the price below the 50-day SMA to indicate a trend change. Solana price analysis Solana’s (SOL) rebound fizzled out at $115, and the price turned down on Feb. 19, indicating a lack of demand at higher levels. SOL/USDT daily chart. Source: TradingView The bears pulled the price below the neckline of the inverse head-and-shoulders pattern on Feb. 21, signaling that the bullish momentum has weakened. The 50-day SMA may act as a support, but it may not hold for long. If the support cracks, the SOL/USDT pair could start a decline to $93, which is an important level to keep an eye on. The first sign of strength will be a rise above the downtrend line. The pair could then attempt a rally to the overhead resistance of $126. XRP price analysis XRP (XRP) closed above the downtrend line on Feb. 19, but the bulls could not clear the hurdle at $0.57. This suggests that every minor relief rally is being sold into. XRP/USDT daily chart. Source: TradingView The bears are trying to pull the price below the moving averages. If they succeed, the XRP/USDT pair could dip toward the strong support at $0.46. Buyers are expected to defend this level with vigor. If the price rebounds off $0.46, the pair could climb to $0.57 and stay inside this range for some time. A break and close above $0.57 will suggest that the corrective phase may be over. The pair could then attempt a rally to $0.67. Cardano price analysis Cardano (ADA) turned down from $0.64 on Feb. 20, suggesting profit booking by the short-term traders. The price could reach the 20-day EMA ($0.57). ADA/USDT daily chart. Source: TradingView Buyers will have to defend the 20-day EMA aggressively if they want to keep the up move intact. If they do that, the ADA/USDT pair could rise to $0.64 and eventually to $0.68. A break and close above this resistance will signal the start of the next leg of the uptrend. On the contrary, if the price tumbles below the 20-day EMA, it will indicate that the bullish momentum has weakened. The pair may then consolidate inside a large range between $0.46 and $0.64 for a while. Avalanche price analysis The bulls defended the 50-day SMA ($36) on Feb. 20, but the bears sold the recovery to the 20-day EMA ($38.22) in Avalanche (AVAX). AVAX/USDT daily chart. Source: TradingView The 20-day EMA has flattened out, and the RSI is just below the midpoint, indicating a range-bound action in the near term. If the price breaks below the 50-day SMA, the AVAX/USDT pair may drop to $32, which is likely to act as a strong support. A solid rebound off the support could keep the pair between $32 and $42 for a few days. On the upside, the bulls will have to drive and sustain the pair above $42 to complete the inverse head-and-shoulders pattern and gain the upper hand. Related: Michael Saylor to forever buy Bitcoin — ‘No reason to sell the winner’ Dogecoin price analysis Dogecoin (DOGE) bounced off the 20-day EMA ($0.08) on Feb. 18, but the bulls could not overcome the barrier at $0.09. This suggests a negative sentiment where the bears are selling on rallies. DOGE/USDT daily chart. Source: TradingView If the price skids below the moving averages, the DOT/USDT pair could drop to the uptrend line. This is an essential level for the bulls to defend because if they fail to do that, the pair may start a descent to $0.07. This negative view will be invalidated in the short term if the price rebounds off the current level and rises above $0.09. That opens the doors for a possible rally to the $0.10 to $0.11 resistance zone. Chainlink price analysis Chainlink (LINK) bounced off the 20-day EMA ($18.81) on Feb. 20, but the bulls could not build upon the recovery. The price turned down and slipped below the 20-day EMA on Feb. 21. LINK/USDT daily chart. Source: TradingView The next stop on the downside is the breakout level of $17.32. This level may witness a tough battle between the bulls and the bears. If the price rebounds off $17.32 with strength, the LINK/USDT pair may rise to the 20-day EMA and later to the overhead resistance at $20.85. The zone between $17.32 and the 50-day SMA ($16.51) is likely to act as a formidable support on the downside. A break below this zone will suggest a potential trend change in the near term. Polkadot price analysis Polkadot’s (DOT) recovery stalled near the 61.8% Fibonacci retracement level of $8.21, indicating that bears continue to sell on rallies. DOT/USDT daily chart. Source: TradingView The DOT/USDT pair has reached the 50-day SMA ($7.18), which is an important level to watch out for. If this level gives way, it will suggest that the bulls are losing their grip. The pair could then drop to the neckline and subsequently to $6. The flattening 20-day EMA and the RSI near the midpoint suggest a range-bound action in the near term. If the price rebounds off the neckline, the pair could reach $8.21 and stay range-bound between these two levels for some time. The bulls will be back in the game on a close above $8.21. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

4 days ago
CRPTOHOLICS
CRPTOHOLICS
followers

🛑BTC LATEST UPDATE🛑 Recently, Bitcoin (BTC) experienced the predicted pump, reaching 53k as anticipated. However, in subsequent analysis, it was suggested that if BTC failed to break new resistance, it might retest 52,300. Indeed, after attempting to reach 54k and failing to break resistance, BTC retraced to 52,300 but struggled to maintain support, leading to a bearish momentum and a drop to 50,700. As of now, the market shows signs of uncertainty, with BTC moving sideways and lacking a clear direction. In the one-day timeframe, an accumulation zone is identified between 51,800 and 52,300. Key levels to watch include a strong support at 50,600 and a strong resistance at 52,300. It's recommended to monitor the market closely and consider buying near 51k and selling near 52,300 until a more defined trend emerges. Further updates will be provided if there are indications of potential price movements. stay tuned for latest updates #Write2Earn #TrendingTopic #BTC

3 days ago
Crypto Fever
Crypto Fever
followers

🚨🚨Bitcoin (BTC) Price Prediction for February 20th 2024🚨🚨 📍Cryptocurrencies need time to accumulate more energy for a further move, according to CoinStats.BTC 📍The price of Bitcoin #BTCUSDT is almost unchanged since yesterday, according to CoinStats.Image by TradingView 📍On the hourly chart, the rate of BTC is rising after a false breakout of the local support level of $51,510. 📍If buyers hold the initiative and keep the price above $52,000 until the end of the day, there is a possibility to see a resistance breakout tomorrow. 📍On the hourly chart, the rate of BTC is rising after a false breakout of the local support level of $51,510. 📍If buyers hold the initiative and keep the price above $52,000 until the end of the day, there is a possibility to see a resistance breakout tomorrow.Image by TradingView 📈On the daily time frame, the situation is also bullish. The rate of has come back to the $52.393 level. If the bar closes near it, one can expect an upward move to the $53,000 zone until the end of the week. Image by TradingView 📊On the weekly chart, the price is on its way to testing the previous candle peak of $52,884. If the growth continues, there is a possibility to see a test of the $54,000-$55,000 area soon. $BTC This is my Analysis, share yours. #Write2Earn #TrendingTopic #BTC

5 days ago
CryptoPotato
CryptoPotato
followers

Bitcoin’s price has finally created a new higher high, following weeks of consolidation and correction. This has caused many investors to believe that a new all-time high will be created in the upcoming months. Technical Analysis By TradingRage The Daily Chart On the daily chart, the price has broken above the key $48K resistance level after a previous rejection. Bitcoin is currently targeting the $52K resistance level in the short term. Meanwhile, the Relative Strength Index is demonstrating a clear overbought signal that hints at a possible correction in the near term. Yet, with the $48K area turning into a support level, it seems unlikely that the market will decline deeply. Source: TradingView The 4-Hour Chart Looking at the 4-hour timeframe, the price has been rising almost vertically, breaking past multiple resistance levels with ease. BTC is currently traded above the $48K level, but the $50K psychological resistance has seemingly rejected the price. It is probable for the market to retest the broken $48K level in the short term before a continuation toward the $52K resistance zone. Source: TradingView On-Chain Analysis By TradingRage Bitcoin Miner Reserve While Bitcoin’s price has been rising rapidly, not all market participants are optimistic about the future. The miners are seemingly one of these cohorts. This chart demonstrates the Bitcoin miner reserve metric, which measures the amount of BTC held in miners’ wallets. Increases in the miner reserve indicate accumulation, while declines suggest that the miners are offloading their coins. As demonstrated on the chart, the miner reserve metric has been falling aggressively amid the price’s recent rally. It seems that the miners are using the increase in demand to realize profits on their coins. While this is a natural behavior in bullish markets, the resulting selling pressure might lead to a bearish reversal if the counterparty demand shrinks. Source: CryptoQuant The post Will BTC Soar to an All-Time High in February Following 13% Weekly Push? (Bitcoin Price Analysis) appeared first on CryptoPotato.

12 days ago
Coinpedia
Coinpedia
followers

The post Bitcoin Price Prediction For March: Will BTC Price Hit New ATH In the Coming Month? appeared first on Coinpedia Fintech News Cryptocurrency analyst Kevin Cage shared his analysis on the current state of the market, focusing on Bitcoin’s possibility of achieving an all-time high price in 2024. Cage began by discussing his reasons for believing in Bitcoin’s upward trajectory, citing historical data and technical indicators. Cage began by stressing his belief in Bitcoin’s ability to achieve an all-time high price shortly. He pointed to historical trends and technical indicators, such as the 50% Fibonacci retracement level and the importance of monthly RSI levels. According to his analysis, Bitcoin could reach a new peak between March 18th and May 27th of the current year, with price targets ranging from $80,000 to $150,000 based on Fibonacci extensions. The analyst also addressed potential bearish concerns, including the possibility of Bitcoin retracing to around $20,000, explaining the importance of key support levels and chart patterns. Despite discussing the speculative nature of price predictions, Cage provided a detailed overview of the factors influencing Bitcoin’s price trajectory. Drawing parallels with previous market cycles, Cage pointed out that Bitcoin has consistently surged to record levels after surpassing this critical retracement level. Coming to altcoins, Cage discussed his recent investment in Cubic, a relatively new project in the AI sector. He mentioned Cubic’s founder, who was previously involved in developing Iota, underscoring the project’s potential for growth in the burgeoning AI-driven cryptocurrency space. Cage explained Cubic’s unique use case and the significance of computational power in solving AI-related tasks. Regarding price targets for Cubic, Cage noted the challenges posed by its initial supply and distribution model, which includes a weekly release of one trillion tokens over 19 years. However, he expressed optimism about the project’s deflationary mechanisms and fair launch.

5 days ago
Learn_With_Fullo
Learn_With_Fullo
followers

Bitcoin has consistently experienced notable price corrections prior to halving events, setting the stage for substantial post-halving rallies.With 60 days remaining until this crucial juncture, an analysis of Bitcoin’s past performance reveals a consistent trend. Significant price corrections preceding halving events have historically paved the way for substantial market upswings afterward.Anticipating a Precursory Bitcoin Price Adjustment Before HalvingAn exploration of Bitcoin’s trend analysis since its inception in 2009 underscores a recurring phenomenon. Each halving cycle is typically heralded by a notable decline in the cryptocurrency’s value, laying the foundation for subsequent robust market rallies.Bitcoin Price Corrections Pre-Halving. Source: TradingViewIllustratively, in 2012, a notable 50.78% plunge in BTC’s price occurred just months before the halving, followed by a remarkable ascent. Similar patterns emerged in 2016 and 2020, featuring pre-halving corrections of 40.37% and a significant 63.09% drop, respectively. In both instances, these downturns were succeeded by resilient recoveries post-halving.As of early 2024, Bitcoin has witnessed a 21.17% growth, sparking speculations of an impending bullish market. However, considering historical precedents, the market may brace for a correction, potentially dipping below $45,000 before rallying post-halving.The Crypto Bull Market Unfolds Post-HalvingThe significance of halving events in the cryptocurrency sphere cannot be overstated. Following the halvings in 2012, 2016, and 2020, Bitcoin witnessed remarkable surges of 11,000%, 3,072%, and 700%, respectively.These periods of bullish momentum extended between 365 and 549 days, underscoring the profound impact halvings exert on market dynamics. If the forthcoming bull market aligns with past trajectories, expectations point towards the next BTC market peak, potentially occurring around April or October 2025.Bitcoin Price Uptrend Post-Halving. Source: TradingViewRationale Behind Selling BTC 18 Months After the HalvingAmidst these cyclical patterns, Plan B’s “Stock-to-Flow Trading Rule” offers a strategic approach to navigating the BTC market. Advocating for purchases six months before the halving and sales 18 months after, this strategy leverages the predictable cyclical behavior of Bitcoin prices.While emphasizing that this is not a prediction model, Plan B notes its historical outperformance compared to BTC’s price trends, suggesting a potential 4X increase in BTC price in the current cycle.“Bitcoin is at $30,000, so the strategy [anticipates a] 4X in the BTC price. We are awaiting the next Buy Signal, and we already know that the halving will be around April 2024, so six months before that is around October… Then [BTC will] enter the market and will stay there for two more years until October 2025, 24 months later,” explained Plan B.The anticipation of the next bull market is rooted in analyzing BTC’s historical price movements and strategic trading models like Plan B’s. As the early bull market stage is recognized, the foundation is laid for substantial price surges following the April 2024 halving. #BTC #dyor

3 days ago

Loading...