Here’s Why Analysts Aren’t Convinced of Bitcoin’s Rally Just Yet
Bitcoin and Ethereum have undergone strong rallies over recent weeks since their September lows. BTC currently trades for $16,000, far above the $9,800 lows seen in September. Other assets have also ripped higher. Not everyone is convinced that this rally will continue, though. One analyst explained that with the second wave of the pandemic sweeping the world, along with Ethereum and Bitcoin running up against a key resistance level, a drop could follow suit. Bitcoin’s […]
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Much of bitcoin’s recent rally has been attributed to the tremendous success of the first bitcoin ETF to trade on Wall Street. The ProShares ETF had seen over $1 billion in trading volume in the first 24 hours alone. However, JPMorgan analysts do not believe that this is the driving force behind BTC breaking a […]
Yearn.finance’s YFI has been one of the most volatile crypto assets of recent days. According to data from TradingView, the coin has traded in an $8,000 range over the past four days. After declining from the $19,000 local highs, the cryptocurrency recently underwent a 15% bounce at $15,000 that brought it just shy of $18,000. […]
Bitcoin traders and analysts are sticking to their conviction that the cryptocurrency's price will hit at least $70,000 in the coming sessions.
Bitcoin has surged decisively higher over the past 72 hours, moving from the $10,600 range to as high as $11,500 on Friday evening. As of this article’s writing, the leading cryptocurrency trades for $11,350, just around 9% above the weekly lows. Despite this decisive surge higher, not everyone is convinced that Bitcoin will continue its ascent. Not Everyone Is Convinced of Bitcoin’s Move Higher One crypto-asset trader noted that the ongoing move higher is still […]
Bitcoin has undergone a strong rally over the past few weeks and months, showing it does have value even in a world where there is much uncertainty. Driving this rally, analysts say, are institutional players. One crypto-asset analyst “Light” noted that from the data he has, he can tell there are serious institutional players that […]