Bitcoin sheds ‘dumb money’ as retail buys most BTC since March 2020 crash
Small-volume buyers are as interested in $48,000 Bitcoin as they were in $3,600 Bitcoin, data appears to show. Bitcoin (BTC) is back in fashion for regular investors at $48,000 as data confirms the biggest buying spree since March 2020.In a tweet on Dec. 14, statistician Willy Woo eyed a key trend that had previously been absent from the Bitcoin market for over 18 months.Retail adds BTC like it’s March 2020After crashing to $3,600 in March 2020, BTC/USD was a hot pick for those able and willing to invest — and now, that phenomenon is back.The changes in balances for wallets holding 1 BTC....
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According to Tradingview, the world’s most popular cryptocurrency, Bitcoin, hit a new low of $20,828 at the start of the week. Because of this new pricing, BTC lost 16.54% of its value in less than a day- almost $5,000 in value. Although being the largest and most famous cryptocurrency, Bitcoin is notorious for its huge climbs and equally dramatic declines. For example, BTC skyrocketed to an all-time high of over $69,000 in November 2021, then plummeted to just under $30,000 by the start of 2022. Related Reading | Bitcoin Long-Term Holders Realize March 2020-Like Losses As BTC....
Jim Cramer, the host of Mad Money and co-founder of The Street, has bought some bitcoin with the intention to keep increasing his holdings. He explained his purchase strategy and said there’s no reason not to wait for bitcoin’s price to come down again. Jim Cramer Bought Bitcoin Jim Cramer is the host of Mad Money on CNBC, a former hedge fund manager, and a co-founder of Thestreet.com, a financial news and literacy website. He tweeted on Friday in response to a comment about a dip in bitcoin’s price. “I think I will buy some,” he wrote. Cramer confirmed a few....
Traders are afraid another Black Thursday crash is on the cards, but derivatives data proves the current correction has no resemblance to the March 2020 pullback. Bitcoin's 51.4% crash in March 2020 was the most horrific 24-hour black swan event in the digital asset's history. The recent price activity of the past week has probably resurrected similar emotions for investors who experienced the Black Thursday crash. Over the past week, Bitcoin's (BTC) price dropped 29% to reach a three-month low at $42,150. $5.5 billion in long contracts were liquidated, which is undoubtedly a record-high....
The bitcoin futures ETF launch is fueling a contango trade that is luring Wall Street in, and retail investors are absent or distracted.
Data from Glassnode shows that the recent Bitcoin crash was the largest in history in dollar terms, coming in at $2.56 billion. The “corona crash” of March 2020 was the previous biggest, at $1.38 billion. Although 13% gains yesterday brought welcome relief, uncertainty still rules. The question on everyone’s mind is, are we still in […]