Bitcoin Miners Net Position Turns Positive: Is A Rally to New Highs Overdue?
After weeks of gut-wrenching volatility, the start of April has been much kinder to Bitcoin. Following a record-breaking $6.4b options expiry, Bitcoin’s price action has been far less volatile in the past few days. According to the Bitcoin Volatility Index, its 30-day volatility has dropped from a high of 5.34% on March 9 to 3.42% at time of press. The major cryptocurrency’s price level is consolidating just under the asset’s all-time high of $61,800 — […]
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An unapologetically bullish Bobby Lee takes to mainstream media to dispel any hint of doubt about what’s next for Bitcoin price action. Bitcoin is long overdue for a “FOMO rally” to new all-time highs that could touch $200,000 or more, say one of its oldest investors.In an interview with Bloomberg on Sept. 29, Bobby Lee, former CEO of exchange BTCC, cast aside any suggestion that the price of Bitcoin (BTC) was in trouble.Lee: Bitcoin has been due for next rally “for a long time”One of an increasing number of sources staying bullish on Bitcoin for Q4, Lee — who went on to found wallet....
Ethereum saw a meteoric rally yesterday that allowed it to post some massive gains, with bulls taking full control as they sent it to fresh all-time highs The crypto is still struggling to gain enough support to hold above its previous all-time highs of $1,450, with the selling pressure above this level being significant It […]
The bitcoin price advance of the past few weeks has been as relentless as it has been vexing. I must confess I have been stymied and surprised by the inexorable strength of this advance off the 750 low. However, all advances must end sooner or later. This begs the question: when? Even a novice Elliott Wave reader can see that there were (2) 5 waves completed at the 1080 high. That was also the place where the 2nd arc of the 4th pair stopped the rally. Well, it turns out that as of this very moment, pricetime has again met the very same arc that stopped the last rally. Will it get through....
On-chain data shows the Bitcoin MPI has spiked up recently, suggesting that miners may have started to dump the crypto. Bitcoin Miners’ Position Index (MPI) Has Sharply Risen Recently As pointed out by an analyst in a CryptoQuant post, some data suggests BTC miners may have began to dump the coin following recent rally. The […]
Bitcoin has dropped slightly since the highs it set on Monday near $11,750. As of this article’s writing, the leading cryptocurrency changes hands for $11,400, a few percent shy of those highs. While the cryptocurrency remains in a positive position on a daily and weekly scale, an analyst fears a stronger correction. He recently shared […]