Bullish AF: Bitcoin At $42K, Comparing Today’s Leverage With That Of February
Bitcoin reached $42K before, but not with these characteristics. The market seems healthy and practically unleveraged. Greed is just showing its face after months of Fear. How did we get here? Calmly and consistently stacking sats, that’s how. What does this mean for the future of BTC’s price? Is the rocket about to take off? Related Reading | Volatility Inbound: Bitcoin Traders are Upping Their Leverage as Election Nears Before going into that, let’s look at the chart from Bitcoin Magazine’s Dylan LeClair. It gives the US Central Bank balance sheet a run for its money as the most....
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Bitcoin is about as innovative of a technology as it gets. It quite possibly is the most important technology to ever exist, potentially more impactful than the internet before it. Without the internet, cryptocurrencies might never exist, but Bitcoin could forever change the face of money – and with it, control. As powerful and potentially […]
The bullish wave of the past days reached its peak on February 7. The bitcoin price managed to struggle above the $220 support level yesterday, but it's now experiencing a correction. As the charts reveal, 24hr BTC/USD exchange rate is down by 4% and a strong selling pressure is still present. The bitcoin price ups and downs through February 7-8th. BTC/USD was struggling below daily averages for a remarkably long period of time. However, after some notable buy orders were placed, the market took a turn to briefly become bullish again. A rise from $210 all the way up to the high of $238 was....
Throughout February, corporations announced massive bitcoin buys in a series of increasingly bullish speculative attacks on the dollar.
Bitcoin is now trading well above $20,000, and at this point will never again see under five-digits. And although the clean break of $20,000 was proof enough that a massive bull run was here, the Relative Strength Index has also breached into bull territory for the first time since 2018. Comparing past crypto market cycles, Bitcoin is already far more bullish this time around than it was back in 2017. That rally took the crypto […]