Bitcoin At $20K Could Be ‘New Bottom,’ Commodity Expert Suggests, And Here’s Why
Bitcoin has been increasingly in a shaky state and has dropped by as much as 50% compared to its previous all-time high. All eyes are on the crypto alpha dog, watching its next price movements. On the other hand, many market analysts believe that the drop in BTC trading value is a jumping board towards massive growth. As a matter of fact, Mike McGlone, Bloomberg Intelligence Senior Commodity Strategist, on his recent tweet, said that the crypto’s plunge is normal as the coin is still trying to get the hang of it as it faces a massive test. Suggested Reading | ‘Original....
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A crypto analyst has presented a new analysis, forecasting Bitcoin’s (BTC) next all-time high and potential market bottom. According to the analyst, BTC’s long-term price outlook could depend heavily on where its current market bottom forms. The analysis draws on historical cycle patterns and bear markets that preceded BTC’s explosive upward rallies. Based on these patterns, the expert projects that if BTC has found a bottom near $60,000, then the next likely top could be around $200,000. Bitcoin Cycle Analysis Points To Final Market Bottom Crypto market expert Ardi has shared a new....
As Bitcoin (BTC) trades below $70,000 following its latest decline, a crypto analyst is watching for a potential market bottom. His analysis suggests that a price floor could be near, as bearish momentum and selling pressure appear to be slowing. The analyst has pointed to a key indicator that has consistently signaled BTC’s bear-market lows […]
Crypto expert Duncan (@FloodCapital) recently expressed a strong conviction that Bitcoin has reached its market bottom and is poised for new all-time highs. His analysis, shared on X (formerly Twitter), provides a detailed examination of the current market dynamics and underlying fundamentals that signal a bullish turn for Bitcoin and potentially other cryptocurrencies. Is The Bitcoin Bottom In? In his in-depth analysis, Duncan pointed out that the crypto market has been underperforming relative to equities over the past few weeks. This trend was a concern until a pivotal development....
After a poor performance in the first two months of the year, the XRP price appears to have steadied its movement, rousing the hopes of relief among investors. However, the latest on-chain analysis suggests that the altcoin might not have hit its true local price bottom yet. Number Of Days Spent At A Profit Still Quite Low — Analyst In a recent post on the social media platform X, on-chain analyst Joao Wedson offered insights into the XRP market, saying the cryptocurrency is yet to enter the early phases of a price rebound, contrary to popular expectations. This on-chain hypothesis is....
Every financial regulatory body around the world seems to be trying to wrap their heads around Bitcoin and its underlying blockchain technology these days, and the Commodity Futures Trading Commission (CFTC ) in the United States is not immune to this trend. Simply defining bitcoin as an asset has proved to be a difficult task for many regulatory agencies around the world, as some claim it is a commodity while others view it as a currency . The CFTC ruled that bitcoin is a commodity in late 2015. To gain a better understanding of Bitcoin, the blockchain and other distributed ledger....