Understanding what drives Bitcoin’s price is crucial for investors. Cryptocurrency expert Ali Martinez has shed light on this by using the basic economic principles of supply and demand. Supply and Demand Basics Like any asset, Bitcoin’s price is influenced by the relationship between supply and demand. When supply exceeds demand, prices tend to fall. Conversely,…
Crypto analyst Crypto Jebb has spotted an inverse head and shoulders pattern on the Bitcoin chart, signaling a potential surge in price. The Pattern and Its Implications The inverse head and shoulders pattern suggests that Bitcoin could break out and reach $70,000. The pattern’s target price is $75,000, indicating a new all-time high. Likelihood of…
The Quiet and Trending Phase Bitcoin has been facing a lot of selling pressure lately, with over 1.5 million BTC being sold. But despite this, the price has only dropped by about 20%. This shows that Bitcoin has strong support levels. Volatility: Not Always a Bad Thing Bitcoin’s volatility has been decreasing lately. This is…
Inflation Data Surprise The Consumer Price Index (CPI) data released on May 15 showed inflation was lower than expected, coming in at 0.3% instead of the forecasted 0.4%. This suggests that inflation may be slowing down in the US. Institutional Investments Reports indicate that notable institutions are investing heavily in Bitcoin. The State of Wisconsin…
Hashrate Hiccup or Miner Exodus? After a surge in Bitcoin’s hashrate (computational power) following the block reward halving in April, it has unexpectedly dropped by 20%. This has sparked speculation about a potential “miner capitulation,” where less efficient miners are shutting down operations due to reduced profits. Hash Ribbons Flash Warning Hash Ribbons, a technical…
Global Money Supply: A Key Indicator According to James Coutts, Bitcoin’s future looks bright due to shifts in global liquidity. He highlights the Global Money Supply (M2) as a crucial factor, as it represents the amount of money in circulation. Momentum is Key Coutts emphasizes that the rate of change in M2 is more important…
Analyst Predicts Sharp Surge Crypto analyst BitQuant, who accurately predicted Bitcoin’s rise to $73,000 in 2024, has unveiled a new target: $95,000. Single Move BitQuant believes Bitcoin can reach this target in a single move, representing a 50% increase from its current level. Timing Uncertain The analyst doesn’t speculate on the exact timing of the…
Long-Term Holders Accumulate Bitcoin’s long-term holders are scooping up the cryptocurrency at its current lower price. This suggests they believe in its potential for growth, despite recent fluctuations. 70,000 BTC Bought These long-term holders have bought a whopping 70,000 BTC, worth over $4.3 billion. This buying spree is seen as a bullish signal for Bitcoin….
Analyst’s Insight CryptoCon, a crypto analyst, has identified a crucial price point for Bitcoin: $57,938. He believes a drop to this level could be beneficial for Bitcoin’s long-term growth. Why $57,938 Matters This price represents the 20-week Exponential Moving Average (EMA). A decline to this level would provide a “boredom and sideways price action” that…
Ric Edelman, a financial expert with $291 billion under management, predicts that Bitcoin will reach a staggering $420,000. Here’s why: Reasons for the Surge Edelman believes that a modest global allocation of just 1% of assets to Bitcoin could result in a market cap of $7.4 trillion. This would drive the price up significantly. Advantages…
