‘Insane evidence’ Bitcoin has capitulated in past 2 months — Analysis
Signals that Bitcoin is in classic capitulation mode are everywhere, and each is a “rare event,” says Capriole’s Charles Edwards. Bitcoin (BTC) is providing overwhelming evidence that it is capitulating, and it is time to flip bullish as a result, new analysis believes.In a Twitter thread on Aug. 3, Charles Edwards, CEO of crypto asset manager Capriole, revealed what he called the “The 12 Bitcoin Capitulations.”“Risk-returns skewed positively” for BitcoinWith BTC price action recovering from multi-year lows but still hovering near key bear market support, opinions vary widely as to what....
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The majority of market participants are still uncertain that the decline is over. In last Wednesday's Bitcoin Price analysis update it was speculated that Bitcoin may be in its fifth month of advance. Additional evidence of an ongoing advance is discussed below. Daily Bitcoin Price Chart. BTC/CNY Volume. Firstly, looking at the Exchange Volume by Currency diagram (courtesy Bitcoincharts.com) it is evident that the bulk of combined exchange orders are transacted in Chinese Yuan. This is significant because, as circled on the daily BTC-China chart (below); a 2014 record daily volume of buy....
On-chain data suggests Bitcoin buyers who entered at the top may have already capitulated. Last time such a trend happened was back in July 2021, following which a new bull rally occurred. Lackluster Bitcoin Sell-Off Recently May Suggest Top Buyers Have Already Capitulated As per the latest weekly report from Glassnode, there hasn’t been any significant loss realization recently despite world-changing events taking place this week. The relevant on-chain indicator here is the “net realized profit/loss,” which tells us whether the overall Bitcoin market is realizing profits....
Preston Pysh saw "insane" gains for the rest of this year in August, with Bitcoin just $2,000 off record levels three months later. Bitcoin (BTC) hitting new all-time highs by Christmas is beginning to look conservative, but one analyst called current levels back in August.As noted by consumer investment service Swan Bitcoin on Nov. 18, the co-founder of The Investor’s Podcast Network, Preston Pysh, predicted 90% end-of-year returns for BTC/USD when the pair traded at $11,400.Pysh: 2020 gains could be “insane”“You should be making a new all-time high by Christmas 2020. That means we’ve got....
Zane Tackett, the community director and product manager at Bitfinex, has officially announced his resignation from the exchange. Tackett reveals his leaving is due to the significant amount of rumors concerning the Bitfinex hack this past August. ‘Insane Conspiracy Theories, Vile People, Incessant Vitriol’. On August 2 Bitfinex was hacked for 119,756....
The corrupt Silk Road DEA agent Carl Force was sentenced today in California to an edict of 78 months in prison. The judge dismissed Forces claim to hardships growing up and his insanity plea, explaining how he betrayed the public’s trust for a book and movie deal. U.S. District Judge Richard Seeborg said Force’s betrayal was “breathtaking” and warranted no exceptions. In court today Force apologized for his behavior and to his family members saying, “I’m sorry, I lost it, and I don’t understand a lot of it,” clinging to his insane alibi. There are some who feel that this man’s entire....