Key On-Chain Analysis Suggests Bitcoin Could Retrace After 50% Surge
Bitcoin has once again begun to thrust higher despite uncertainty in traditional markets. The coin currently trades for $16,450 as of this article’s writing. Analysts fear that a retracement is likely as on-chain trends and technical trends seem to have begun to favor bears. Bitcoin Could Retrace Soon, Analysts Say Bitcoin has once again begun to thrust higher despite uncertainty in traditional markets. After a day of 1% losses for leading U.S. stock indices, Bitcoin […]
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Bitcoin price has surged to $250 and 1600 CNY in what can only be described as magnificent price action. No other market instrument can do this and it is a unexpected reminder of the speculative potential in Bitcoin! This analysis is provided by xbt.social with a 3 hour delay. Read the full analysis here. Not a member? Join now and receive a $29 discount using the code CCN29. Bitcoin Price Analysis. Time of analysis: 16h50 UTC. Bitfinex 1-Day Chart. From the analysis pages of xbt.social, earlier today: Price could achieve the red daily 200MA that has eluded it for months within the coming....
Bitcoin could soon see a bullish trend reversal as an on-chain indicator suggests it will do so. The on-chain indicator has predicted a number of notable price trends over the past few years. For one, during 2017’s bull market, the indicator formed a number of bounces off the 1.0 reading. Other fundamental trends also suggest that the prevailing Bitcoin trend is bullish. Bitcoin Could See a Bullish Trend Reversal Very Shortly: Key On-Chain Analysis Bitcoin […]
On-chain analysis is an important part of the bitcoin ecosystem. It helps to show activity on the network and can give a good indication of how investors are feeling about the digital asset. In the early days, on-chain analysis commanded a lot of respect in the space. However, there have been various things that have […]
Bitcoin has consolidated in a tight $1,000 range since the start of September, at least until recently. The leading crypto-asset is in the midst of a breakout that has brought it as high as $11,500. As of this article’s writing, Bitcoin trades for $11,350, around 5% above where it was yesterday. Crucial market cycle analysis suggests that the crypto market has room to grow from here. The analysis suggests that within the next three months, […]
As the eyes of the crypto community turn to tomorrow’s Federal Reserve FOMC meeting, an on-chain analysis by Glassnode suggests that the bottom just needs to be hammered out. In their weekly report, the firm states that a number of metrics are currently bouncing, making a relatively consistent argument that the bitcoin market has hit a bottom. In this regard, the current numbers are “almost textbook” comparable to previous cycle lows. To back up the claim, Glassnode consults the Mayer Multiple and the Realized Price. The latter of the two metrics calculates the....