Bitcoin's $100K price target returns as BTC price breaks out of bull pennant
Bitcoin (BTC) looks poised to pursue a run-up towards $100,000 as its price breaks out of a classic bullish structure. Dubbed as Bull Pennant, the setup represents a price consolidation period with converging trendlines that form after a strong move higher. It ultimately prompts the price to break out in the direction of its previous […]
Here's why Bitcoin mining stocks have been outperforming BTC price in 2021
Bitcoin (BTC) might have outperformed traditional financial markets regarding investment returns, but the cryptocurrency still fell behind Bitcoin-related companies. The price of BTC climbed by about 290% year-over-year, wherein it surged from $10,695 to a little over $42,000. In comparison, shares of Marathon Digital Holdings (MARA), one of the largest North American crypto mining companies, […]
Bearish Bitcoin fractal with 78% success rate flashes as BTC drops below $43.5K
Last week’s drop in Bitcoin (BTC) that saw BTC price falling from $47,358 to $43,178 has sparked fears of an extended selloff. Independent market analyst Nunya Bizniz highlighted a bearish fractal on Bitcoin’s weekly charts concerning its 21-week exponential moving average (EMA). In detail, the cryptocurrency has closed below the said support zone 18 times to date but […]
Bitcoin ‘heavy breakout’ fractal suggests BTC price can hit $250K–$350K in 2021
Bitcoin (BTC) has the potential to push its prices to between $250,000 and $350,000 by the end of 2021, a long-standing fractal suggests. First spotted by pseudonymous analyst Bit Harington, the bullish setup drew its inspirations from Bitcoin’s spectacular bull runs every time after halvings, which is when the miner block reward gets cut in half. Analysts […]
Bitcoin’s sharp fall from $50K linked to stronger US dollar, gold — Correlation shows
Bitcoin (BTC) and spot gold hovered below their key psychological levels on Wednesday as a stronger United States dollar weighed on investors’ appetite for hedging assets. The BTC/USD exchange rate dropped 5.27% to its intraday low of $44,423 but recovered a portion of those losses after reclaiming the $45,000–46,000 range as support. The pair’s recovery […]
Bitcoin whales join 'small fish' in buying BTC as price holds above $47K
Rich crypto investors are turning their attention back to Bitcoin (BTC) as its price continues to eye a breakout move above $50,000. Crypto-focused newsletter Ecoinometrics reported positive changes in Bitcoin holdings for addresses controlling 1,000-10,000 BTC. So, based on their rising account balances throughout August, Ecoinometrics spotted a renewed accumulation sentiment among “whales,” hinting that […]
Bye alt season? Analysts see traders rotating back to Bitcoin after $30K 'reset'
The Bitcoin (BTC) market bias stands divided on how to interpret the BTC price crash this week, wherein the pair lost more than 35% of its value at one point on Wednesday, crashing to as deep as $30,000 on Coinbase. Global media outlets attributed the plunge to China reiterating its anti-crypto business stance and Tesla suddenly […]