Bitcoin transaction fees have skyrocketed, doubling in just a week as the market surges towards $70,000. Ordinals: Driving the Fee Surge The rise in Ordinals transactions has been a major factor in the fee surge. Ordinals are a new type of transaction that allows users to inscribe data onto the Bitcoin blockchain. As the excitement…
Surge and Investor Sentiment Bitcoin has shattered records, briefly surpassing $70,000. This surge is attributed to a wave of investor enthusiasm and the introduction of spot bitcoin exchange-traded funds (ETFs) in the US. These ETFs have attracted significant interest, with $900 million invested this week alone. Bitcoin Halving Event The upcoming halving event, where the…
Correlation with Bitcoin Dogecoin’s price is closely tied to Bitcoin, with a correlation of 0.95. This means that Dogecoin tends to follow the same trends as Bitcoin. Recent Transactions Despite market fluctuations, Dogecoin has seen a lot of activity recently, with over $4.5 billion in transactions over $100K in the past week. Inflow and Outflow…
Undervalued Despite ATH Crypto expert Michaël van de Poppe believes Bitcoin is still way below its true worth, even after hitting a record high of over $70,000. He sees it as a hedge against inflation and a way to maintain purchasing power. Way Higher Numbers Predicted Van de Poppe previously predicted Bitcoin could reach $150,000…
Tesla’s Bitcoin Journey In January 2021, Tesla invested $1.5 billion in Bitcoin. They later sold some of their holdings, including $272 million in Q1 2021 and $936 million in Q2 2022. Currently, Tesla owns 11,510 BTC, worth around $780 million. SpaceX’s Bitcoin Stash SpaceX holds 8,290 BTC, valued at approximately $560 million. Their holdings are…
Key Narrative: Diminishing Returns Bitcoin analyst Matthew Hyland predicts a bullish rally for Bitcoin to $240,000 based on the “Diminishing Returns” narrative. This narrative suggests that each Bitcoin cycle produces a smaller percentage gain as the market matures. However, Bitcoin has yet to disprove this narrative, which Hyland believes is the “final boss” that must…
Bitcoin’s price has been fluctuating around $67,000 lately, but it’s not likely to stay there for long. Inverse Head and Shoulders Pattern Emerges Crypto analyst Josh Olszewicz has identified an inverse head and shoulders (iH&S) pattern on Bitcoin’s 1-hour chart. This pattern is often seen as a sign of a potential price increase. The iH&S…
Approval of Spot Bitcoin ETFs: A Game-Changer Renowned analyst Willy Woo has sparked excitement among crypto enthusiasts with his bullish prediction for Bitcoin. Woo believes the recent approval of spot Bitcoin ETFs will trigger a significant surge in the cryptocurrency’s value. These ETFs allow traditional investors to access Bitcoin without the hassle of directly owning…
A crypto analyst predicts that Bitcoin’s price could soar to $207,000 by June. This prediction is based on historical data that suggests a similar surge occurred after Bitcoin broke its previous all-time high. Historical Precedent In 2021, Bitcoin’s price tripled in just 103 days after breaking its previous ATH. The analyst believes this pattern could…
Bitcoin’s All-Time High Bitcoin soared to a record-breaking $69,200, sparking excitement among traders. However, the celebration was cut short when the price plummeted to $61,200. The Dormant Whale On-chain data revealed a dormant Bitcoin address holding $67.1 million worth of BTC. After 14 years of inactivity, the whale suddenly sold its entire stash. Whale’s Profit…
