Bitcoin 'great detox' could trigger a BTC price drop to $12K — Research
A lack of interest below the June macro lows could spell serious problems for Bitcoin, Glassnode warns. Bitcoin (BTC) is in a “dire condition” when it comes to adoption — but a silver lining is already visible, new research says.In the latest edition of its weekly newsletter, The Week On-Chain, crypto analytics firm Glassnode said that Bitcoin was going through a “great detox.”Bitcoin adoption returns to March 2020Current BTC price action is pressuring everyone from long-term holders (LTHs) to miners, and relief is hard to come by.Macro turmoil and resistance at $20,000 is keeping BTC/USD....
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Hillary Clinton or Donald Trump? While America may be undecided, there's a widespread belief among bitcoin investors and analysts that a Trump presidency would provide a limited, but impactful, boost to bitcoin prices. Such commentary follows on the heels of the UK's decision to leave the European Union in June, a development that many analysts credited with spurring uncertainty and causing a $100 increase in the price of bitcoin over just one trading session. Analysts noted that while the digital currency markets might not see any significant change from Clinton's election, Trump could....
The Bitcoin price is lingering just under $19,000 at the time of writing, not far from the local low of $18,300. When the Consumer Price Index (CPI) and Producer Price Index (PPI) data was released last week, the BTC price plunged to just that price level. Unexpectedly for many, a very quick rebound happened, catching shorters off guard. With November 02 – when the FED meets again – in mind, the Bitcoin price doesn’t have much room to fall below that level at the moment. Moreover, a look at the on-chain suggests another crash is possible in the short term, although there....
Most people will agree that 2014 was not a great year for Bitcoin's price, but according to financial author and researcher Brett Scott, it really was a great year for academic interest in the cryptocurrency. According to Scott, who spent the last week of last year piecing together a database containing information about all of the academic Bitcoin research published since Satoshi Nakamoto's seminal paper in 2008, the number of published papers rose by more than threefold from 61 in 2013 to 205 in 2014. This is appears to show an acceleration in the rate of increase since 2011: 8 papers....
Ethereum has undergone a 6% drop over the past 24 hours in the face of the stock drop. The Dow Jones is down 3% during Monday’s trading session. Analysts think ETH could bounce, though, as the coin has recovered to $390. One analyst noted that the coin is now trading above the pivotal swing level at $390. Ethereum holding above that level is expected to trigger a recovery towards the $422 weekly highs as aforementioned. […]
Looking at a Bitcoin price "candlestick screen" is no way to go through life. If you are day trading Bitcoin, or are in Bitcoin for the short-term, to make a quick hit, this article is not for you. If you think the U. S. Dollar is going to be the global currency for the rest of your waking days, turn back now. If you think gold and silver are the only "real" commodities worth investing in, you are free to leave the room. Also read: Why Bitcoin Value vs. Dollar Doesn't Matter. That is for the Bitcoin full-timer. The lifer. The person who gets paid in BTC and knows how special it truly is.....