Bitcoin price nears final hurdle at $12K before bull market euphoria
The price of Bitcoin is nearing $12,000 once again, which may be the signal for the start of a massive new bull cycle. The price of Bitcoin (BTC) had to hold the crucial support level between $11,100-11,300, and it did. After this support test, the price of BTC continued to surge upward on Oct. 20, reaching the crucial resistance area between $11,900-12,200.This upward move came along with weakness in the dollar, as the U.S. Dollar Currency Index (DXY) dropped substantially. A correlation that’s been effective throughout 2020 already. However, other cryptocurrencies haven’t been following....
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Bitcoin has very few resistance levels left to clear before a new bull run is on, and the leading cryptocurrency by market cap returns to price discovery mode in search of its next all-time high. And while that break out into a bull market draws nearer with each passing day, so far, there’s no volume […]
Why this bitcoin price bull run could be the market cycle that takes us from gradually to suddenly reaching hyperbitcoinization.
Bitcoin is very close to new all-time highs once again but the final hurdle may take some time to overcome. Bitcoin’s (BTC) price has so far failed to make new all-time highs above $60,000 this week. After the breakout above $58,000, negative news from India, as well as general macroeconomic weakness and rebounding U.S. dollar, appear to have halted the rally. This resulted in a pullback toward $53,000 on March 16. Such a move is normal as the bull market typically moves in waves. In other words, the market will find a new equilibrium of buyers and sellers, after which it will decide where....
BTC price gravitates around the low $30,000 zone, luring traders to believe the bottom is in, but data from Glassnode warns of another final sell-off. The bull market euphoria that carried prices to new highs throughout 2021 has given way to bear market doldrums for any Bitcoin (BTC) buyer who made a purchase since Jan. 1, 2021. Data from Glassnode shows these buyers "are now underwater" and the market is gearing up for a final capitulation event. Bitcoin net unrealized profit/loss. Source: GlassnodeAs seen in the graphic above, the NUPL, a metric tha is a measure of the overall unrealized....
The debate around LOT=true and LOT=false remains the final hurdle in Taproot activation. So, what’s the difference and why is it important? The post LOT=true Or LOT=false? This Is The Last Hurdle Before Taproot Activation appeared first on Bitcoin Magazine.