The Bitcoin Demand/Price Ratio Remains Positive – Can BTC Hold Long-Term Mome...
Bitcoin has been trading within a narrow range for the past twelve days, holding above the $94K level while struggling to break past the $100K mark. This prolonged consolidation has left investors uncertain about the short-term direction, with divided opinions suggesting either an imminent breakout into all-time highs or a continuation of selling pressure into […]
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In last week’s post we concluded with the following statement: With our Bearish stance we were expecting to see lows in the vicinity of the U$440-450 zone. Price did fall immediately after the publication but made what can be considered a higher low at US$456 and then another one at US$459 the next day. The big question now is: Are these lows in the Mid US$450’s here to stay for a while or is more downside on the way? So on that note, let’s take a look at the long term picture. We are now changing our view point to Long-Term (tentatively) Bullish, Intermediate -Term Bearish, and Short-Term....
The current state of the Bitcoin market offers a mix of optimism and caution for investors. Over 87% of Bitcoin holders are in profit, with their investments valued higher than their initial purchase prices. Related Reading: Whales Dump Over $1 Billion In Bitcoin: Fire Sale Or Foreshadowing? On average, these investors are seeing unrealized gains of 120%, a significant figure that reflects the substantial rally that pushed Bitcoin to its all-time high in March, according to Glassnode data. However, despite these gains, the market exhibits both encouraging long-term trends and some....
Last Week we concluded with the following: Because just 14 months ago the price of a bitcoin was around US$100, the long term chart is still showing tiny signs that a reversal can come any week so we have to remain slightly bullish on that time frame. On the other hand, there is nothing positive to point to technically or fundamentally on a daily level. Demand from people going out and understanding Bitcoin along with buying a few to just to try remains pretty week. The daily price chart reflects this, so as much as we want to say that US$300 will hold the price up, the probabilities are....
On-chain data shows the Bitcoin taker buy/sell ratio has recently crossed above ‘1,’ a sign that the crypto could experience short-term bullish momentum. Bitcoin Taker Buy/Sell Ratio Surges Up Above A Value Of 1 As explained by an analyst in a CryptoQuant post, the current BTC taker buy/sell ratio trend may suggest the crypto might see sideways movement or a bullish reversal in the short-term. The “taker buy/sell ratio” is an indicator that tells us about the ratio between the long and short volumes in the Bitcoin futures market. When the value of this metric is....
JPMorgan analyst Nikolaos Panigirtzoglou said that a medium-term fair value for Bitcoin now stands between $24,000 and $36,000. Following the worst May for Bitcoin’s (BTC) price in the past 10 years, the largest cryptocurrency is likely to continue falling in the short term, according to JPMorgan analysts.Weakened institutional demand is likely to drag the Bitcoin price below $30,000, JPMorgan strategist and Bitcoin expert Nikolaos Panigirtzoglou wrote in the latest research note to clients.Based on Bitcoin’s volatility ratios to gold, the JPMorgan analyst forecasted that Bitcoin will....