Analysts note parallels with March 2020: Will this time be different?
Analysts across crypto and traditional stocks have taken notice of the similarities between what happened in March 2020 and market moves so far this month. Analysts in both crypto and traditional markets have noted some startling similarities between the recent downturn and the one caused by a pandemic panic in March, 2020.The real question is whether it’s the start of a larger downturn or if there will be a significant bounce-back as in 2020 that led to an extended bull run in both crypto and stocks markets.Podcaster and author of The Pomp Letter, Anthony “Pomp” Pompliano is on the....
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While bitcoin prices touched all-time 2020 highs on Tuesday, a few analysts say they are expecting only a few more hurdles to surpass the 2017 all-time high (ATH). For instance, the market analyst from Etoro, David Derhy, says to look to $20,000 instead of back at $12,000. A few traders and popular cryptocurrency analysts think that bitcoin (BTC) simply needs to cross the $14k region and its lift-off from there. Tuesday’s 2020 ATH of $13,684 is just shy of last year’s ATH at $13,796 per bitcoin which was accomplished on June 26, 2019. Macro strategist Raoul Pal said on Tuesday....
Despite the FUD around stablecoins, the percentage of stablecoins in the total market cap has been growing recently, hitting new all-time highs. The rapid surge in share of stablecoins like Tether (USDT) in the cryptocurrency market may point to an upcoming crypto upside, according to analysts at the American investment bank JPMorgan Chase.The percentage of stablecoins in the total crypto market value has been on the rise, reaching new historical highs in mid-June, JPMorgan strategists believe. Led by JPMorgan crypto market analyst Nikolaos Panigirtzoglou, the analysts provided their....
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....
On March 11th, Bitcoin reached $57k, just below its all-time high, after falling to a low of $43k in February. Today, the coin hit $62,000. With Bitcoin managing to regain the lost ground in such a short period of time, analysts remain bullish on the future of the asset’s price. While after the initial 2017 crash, Bitcoin regained much of its price loss quickly – only to lose more than 80% of its value in […]
The AllCrypt.com bitcoin exchange has gone down, and 42 bitcoins is reported missing. The Allcrypt.com site has a note posted saying "Allcrypt.com is down for a bit." Attempts are being made to resurrect the site, and details will be posted as they become available. "I'm not even sure there is anything to bring back up," the note says. The message on the site has been updated once since Monday morning. Earlier in the day, it noted that due to "some apparent exploit in WordPress," someone, somehow, got into the server, installed some files, and managed to empty the bitcoin wallet. Whoever....