Analyst Suggests Bitcoin’s Bottom Could Be $50K Assuming BTC Surpasses $200K ...
The price of bitcoin in October has shown signs of a double-bubble similar to the bull run in 2013, and speculators have been trying to guess the leading crypto asset’s top. On October 20, cryptocurrency market analyst Justin Bennett discussed bitcoin’s possible price floor after it reaches the top. Bennett suggests the end of this cycle could be between $207,000 and $270,000. Assuming bitcoin crosses $200K per coin, Bennett thinks the digital asset’s bottom after an 80% pullback will be around $50K. ‘2013 Vibes,’ ‘End-of-Cycle....
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Some analysts say that Bitcoin’s current price action aligns with the Bitcoin halving model, leading them to expect a $24000 bottom before year-end. The topic of Bitcoin’s four-year halving cycle and its effects on BTC’s long-term price is one that has been highly debated within the crypto community. Related Reading | Tether (USDT) Q1 Trading Volume Plunges To $5.3 Trillion In Quarterly Low Crypto analysts predicted that the price of Bitcoin would reach $100,000 by 2021. However, it did not get to this level, and now analysts wonder what will happen in the next six to....
The crypto economy has gained a massive amount of value during the last few days, as the aggregate market cap of all 7,500+ digital assets is a whopping $640 billion on Thursday. Meanwhile, the largest blockchain in terms of valuation, bitcoin has touched an all-time high of $23,777 rising more than 22% in 24 hours. Digital currency markets are doing extremely well this week, as a great number of coins have seen significant gains during the last three days. At $640 billion, the aggregate market cap of all the crypto assets in existence is up over 15% on Thursday. Bitcoin (BTC) recently....
Bitcoin’s price has been showing signs of strength throughout the past few hours, finally pushing above $10,600 This strength is tempered, and bulls remain in a precarious position as they struggle to catalyze any sustainable uptrend The entire market has been relatively quiet over the past few days and weeks, with many altcoins drifting lower as BTC shows signs of weakness One analyst is noting that a historical analysis of Bitcoin’s present outlook suggests that […]
On-chain data shows the Bitcoin supply in profit has dropped to just 55% recently. Here’s what historical trend suggests regarding if a bottom has already been hit or not. Around 45% Of The Bitcoin Supply Is Underwater Right Now As pointed out by an analyst in a CryptoQuant post, during past cycles the supply in […]
As bitcoin touched an all-time price high this week, the tech reporter at the New York Times, Kashmir Hill, recalled how she spent 10 BTC ($224k) for a sushi dinner for a couple of dozen strangers. Hill wrote about the dining experience in a recent article called “How I Blew My Bitcoin on Sushi: My $200,000 Sushi Dinner.” Additionally, the early bitcoiner Martti Malmi wrote about how he sold 55,000 BTC which would now be worth over $1.2 billion. Journalist Spends 10 BTC on a Sushi Dinner With Strangers in 2013 The price of bitcoin (BTC) has climbed to new price heights this....