Amid Dogemania, Why Bitcoin’s Bullish Case Holds Up
Bitcoin has regained momentum. At the time of writing, BTC trades at $57,225 with a 1.5% profit in the daily chart and sideways movement in the lower timeframes. The general sentiment in the market is divided, investor’s attention seems to have gone towards Ethereum (+27.3%) and Dogecoin (+88.4%), cryptocurrencies with impressive rallies in the 7-day […]
Related News
Bitcoin currently trades for $19,2000, having stabilized due to a lack of volume on the weekend. Some analysts remain bullish in the near term as the cryptocurrency holds the $18,500 region. $18,500 has been an important level for bulls over the past few weeks. One such analyst that drew attention to this trend is the same one that predicted late last year that Bitcoin would hit the $3,000s this year. Bitcoin Bullish on Short Term […]
The business intelligence firm has now amassed 129,699 BTC at an average price of $30,644, according to CEO Michael Saylor. Business intelligence firm MicroStrategy has added to its Bitcoin (BTC) holdings, reaffirming CEO Michael Saylor’s bullish outlook on the digital asset despite its recent struggles. In a Form 8-K filing with the United States Securities and Exchange Commission (SEC), Microstrategy disclosed that it had acquired an additional 480 BTC at an average price of roughly $20,817. The total purchase amount was $10 million in cash. With the purchase, MicroStrategy now holds....
Which direction will Bitcoin’s price choose? Bitcoin’s movement. After its downward trend, Bitcoin’s price stopped on March 17th-18th and a rebound started forming. This is only natural, some traders are closing their positions at the lowest points, while the buyers who expect a new upward trend, are buying bitcoins at the most profitable price. However, that price is also the most risky. There are no specific signs of a buyer’s advantage in a situation like this, and such signs are important for stable profits. That’s why the trend will most likely change at the $412 resistance. This....
Bitcoin found support at 216 this week and after a 3-point bullish divergence, it started to rally. The 1H chart shows the higher highs and higher lows made since the April 15th session. Note that price crossed above the 100-hour and 50-hour simple moving averages (SMAs). This reflects a loss of some bearish bias, but by no means is an indication of a bullish reversal. The 1H RSI tagged 70 which reflects initiation of some near-term bullish momentum. Bitcoin (BTCUSD) 1H Chart April 17. Now, as bitcoin continues this week's bullish correction, it will meet a key level around 232. This is....
Grayscale’s Bitcoin Trust now holds more than 500,000 Bitcoin, surpassing $8.3 billion in value. Cryptocurrency fund manager Grayscale Investments now holds more than 500,000 BTC in its Bitcoin Trust. According to a Nov. 16 post, Grayscale now holds to $8.35 billion worth of Bitcoin— equating to 2.69% of Bitcoin’s (BTC) outstanding supply and market cap. But with Chainalysis estimating that around 3.7 million BTC have been lost, Grayscale may actually now be in possession of 3.37% of Bitcoin’s remaining circulating supplyAppealing to institutional investors who are prepared to pay a....