Demand Still Low Glassnode, a data analytics company, has shed light on the recent dip in Bitcoin’s price below $70,000. According to their analysis, demand for Bitcoin is still relatively low. This is evident in the slowing down of new capital flowing into the Bitcoin network. Liquidity Injection Cools Off Glassnode also observed that the…
Historical Trends and Indicators Crypto Con, a crypto analyst, has analyzed historical data to predict when Bitcoin might reach its peak in the current bull cycle. Based on the Stochastic Momentum Index (SMI) Ergodic Indicator, Bitcoin is currently where it should be in the cycle, with plenty of room for growth. Estimated Peak Timing Crypto…
Bitcoin, the world’s most popular cryptocurrency, is on the cusp of a major move, but the direction remains uncertain. Bullish Outlook: Euphoric Bull Theory Analyst Checkmate predicts a surge to a new all-time high, signaling a shift to a “Euphoric Bull” phase. This theory is based on the Market Value to Realized Value (MVRV) ratio,…
Bold Prediction Standard Chartered analysts believe Bitcoin is poised to break its previous all-time high of $73,700 and surge to $73,798 by March 14, 2024. Reasons for Optimism Increased inflows into Spot Bitcoin ETFs Potential approval of Ethereum Spot ETFs Analyst Geoff Kendrick’s previous predictions of Bitcoin reaching $150,000 by 2024 and $200,000 by 2025…
Whales Go on a Shopping Spree Bitcoin whales, those with deep pockets, have been on a buying frenzy, snapping up billions of dollars worth of Bitcoin (BTC) every time the price dips. Recently, as BTC dropped towards $60,000, these whales pounced, spending a staggering $6.3 billion in a single day. Whales Accumulate, Smaller Investors Sell…
Bollinger’s Bearish Perspective John Bollinger, creator of the Bollinger Bands indicator, has spotted a “two-bar reversal” pattern on the Bitcoin chart. This pattern indicates a potential change in price direction, with Bitcoin breaking above the upper Bollinger Band but then closing back within it. This suggests that the upward momentum may be weakening. Bollinger’s analysis…
Institutional Inflows Surge Big investors are doubling down on Bitcoin. Last week, investment funds tied to the crypto saw a whopping $942 million pour in. This bullish sentiment could trigger a Bitcoin rally to $80,000. Lower Inflation Fuels Optimism The Consumer Price Index (CPI) report showed inflation slowing down, giving investors hope that the Federal…
History Repeating Itself? Crypto analyst TechDev has noticed a striking similarity between Bitcoin’s current price action and its behavior in 2017, when it soared by 1,200%. The chart he shared shows that Bitcoin’s price has been following a similar trajectory to the bull run of 2017. Consolidation and Breakout After the collapse of FTX, Bitcoin…
Retail Investors Dumping Their Holdings As Bitcoin’s price soared past $67,000, small-time investors (those holding less than 0.1 BTC) have been selling their coins. This has put pressure on the price, but it’s not necessarily a bad thing. Historically Bullish Historically, when small investors sell, it often indicates that larger investors are buying. This redistribution…
Technical Pattern Points to Price Surge A crucial Bitcoin metric, the Stablecoin Supply Ratio (SSR) Oscillator, has turned bullish, indicating a potential rally for the world’s largest cryptocurrency. SSR Oscillator Explained The SSR Oscillator compares the supply of stablecoins to Bitcoin to assess market sentiment. When the oscillator falls below the lower Bollinger Band, it…
