Bitcoin Price Bounce - Dead Cat?
Earlier today we published a piece outlining action in the bitcoin price over the previous 24 hours or so, outlining the potential fundamental factors that translated to a decline and hinting at the levels we should be keeping an eye on in order to gain insight into action throughout the European session on Thursday. Now the European session is drawing to a close, what have these levels told us about the bitcoin price, and what should we be looking at as we head into the US afternoon? Let's take a look. As the chart shows, the levels we highlighted this morning remain relevant to the....
Related News
Bitcoin has jumped more than 10% in the last 24 hours as the coin’s price reaches $47.5k. Past pattern may shed light on whether this is just a dead cat bounce or a lead up to a real move up. Bitcoin Netflows Of Past Dead Cat Bounces Compared As pointed out by a CryptoQuant post, a look at the BTC netflows of the past cycles may reveal the pattern that dead cat bounces have followed historically. The Bitcoin exchange “netflow” is an indicator that’s defined as the difference between the inflow and the outflow. When exchanges observe higher inflows compared to the....
Strong hands accumulated Bitcoin throughout last week’s historic correction but BTC’s inability to reclaim the $40,000 level has some traders afraid of a dead cat bounce. The recent extreme volatility in the cryptocurrency market following Bitcoin’s (BTC) dip to $30,000 and the recovery to $38,000 has traders confused about whether the current price action is a ‘dead cat bounce’ which will see token prices head lower or a solid reversal that will set the floor for the next leg higher for the market. While BTC price still remains more than 40% below its all-time high of $64,863, bulls have....
An analyst from the biotech consulting group Biotechvalley Insights believes after bitcoin lost 53% from the crypto asset’s all-time high, “the party is clearly over.” The biotech consulting group analyst thinks crypto investors will witness a slow “grind down the slope of hope with a periodic dead cat bounce” and expects prices to drop to $15,000 in the next few weeks. **Editor’s note: This article was updated at 4:55 p.m. (EST) to reflect a comment from a Bitcoin.com News reader who commented on the Biotechvalley Insights’ analyst’s....
Bitcoin is dead. Bitcoin is dead, cry the critics. Like vultures at a funeral, financial pundits are circling. Each one is vying to print their "I told you, so"'s before the other - fighting like starving dogs over table scraps. Benign Parsimony. Bitcoin is dead, they say again. Miner's are shutting down. Services are running off with customer's coins. Bitcoin is a Ponzi Scheme. The Bitcoin CEO was arrested. Bitcoin is for drugs and money laundering. The price is falling, the price is falling. Hey... Henny Pennying is big business but I don't picture these individuals as Chicken Littles.....
Bitcoin price suffered a powerful correction from the 2020 high of $12,400, taking the crypto asset back below $10,000 briefly. After a short-lived dead-cat bounce to $11,200, Bitcoin price is back once again at $10,500 and trying to hold. Although the correction has been steep, the selloff closely resembles the last bull market’s most violent […]