Bitcoin Cash Traders Move Into Profit, But Can The Rally Continue?
As the price of Bitcoin and the general crypto market has rallied, leading to a much-needed increase in price, Bitcoin Cash (BCH) investors are once again on a profitable path. The majority of investors are now in the green following its double-digit surge in the last week. But now the question posed is, will the price of BCH continue to maintain this surge? Bitcoin Cash Short And Long-Term Holders Enjoy Profits In a Thursday post, on-chain data tracking platform Santiment revealed that both short and long-term holders of Bitcoin Cash are doing quite well right now. The chart shared by the....
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On-chain data shows both the short-term and long-term Bitcoin Cash holders have entered into profits following the 13% rally. Bitcoin Cash Traders Return To Profits As Whales Ramp Up Activity According to data from the on-chain analytics firm Santiment, Bitcoin Cash traders who bought within the past 30 days, as well as those who did […]
Bitcoin is showing signs of profit booking, resulting in a slight downturn in altcoin prices. PayPal’s crypto announcement acted as a trigger that drove Bitcoin (BTC) price to a new 52-week high. During such news-based events, traders holding short positions are caught off guard and are forced to cover their trades, resulting in the type of short squeeze seen during the Oct. 21 rally.However, after this initial burst, the next leg of the uptrend is only possible if demand picks up and the bulls continue to buy at higher levels. Data from Huobi exchange suggests that pro traders are not....
Bitcoin has undergone a strong rally over the past week, even after news that OKEx had blocked withdrawals. The coin trades for $13,150 as of this article’s writing, which is just shy of the weekly highs. Analysts think Bitcoin will continue to move higher in the coming days. Bitcoin Expected to Move Higher Bitcoin has undergone a strong rally over the past week, moving from the $11,500 range to the $13,000 region. The coin currently […]
After today’s sharp downside move, Bitcoin and altcoins could trade in a sideways range as bulls and bears fight to control the market’s momentum. Bitcoin (BTC) price plunged by about $3,400 in an hour, warning traders that corrections during a parabolic move are likely to be sharp. Data from Glassnode shows that the fall resulted in the liquidation of Bitcoin futures long positions worth about $190 million on Binance within an hour, the largest to date.In a strong uptrend, corrections are swift but short-lived because investors who expect the rally to continue use the dips to buy.Binance....
Popular mobile payment platform Cash App, developed by Jack Dorsey’s Block Inc., generated $10 billion in bitcoin revenue and $218 million in bitcoin gross profit in 2021. Compared to the previous year, the bitcoin revenue increased 119% while gross profit rose 124%. Cash App’s Bitcoin Business Block Inc., formerly Square Inc., released its Q4 2021 earnings report Thursday. The report includes the performance of Cash App, the firm’s mobile payment platform that allows users to trade bitcoin. The company stated: Cash App generated $1.96 billion of bitcoin revenue and....