Bitcoin
Bitcoin may head to $45k – $47k without CME gap filling, crypto analyst suggests
Market analyst Credible Crypto has set forth that CME gap filling isn’t guaranteed The analyst also pointed out that the bottom is likely in for Hedera (HBAR) Popular crypto trader and market analyst Credible Crypto has given his views on the price movements of Bitcoin and Hedera Hashgraph. The analyst shared the forecast tweets on his page accompanied by respective analysis charts. BTC/USD Credible crypto quoted a tweet shared at the end of last week – when he anticipated Bitcoin to continue sideways trading, at the time, as it would “allow for some final pumps on many ALT/BTC pairings before $BTC drains them.” In his recent tweet, Credible Crypto argued that the flagship cryptocurrency could climb towards $47k without the CME gap and swing lows being filled. BTC/USD tra...
Overwhelming support for Grayscale BTC Trust ETF conversion proposal
The U.S. Securities and Exchange Commission has allowed comments and feedback on a proposed rule change that would convert Grayscale’s Bitcoin Trust to a spot-based exchange-traded fund (ETF). A notice of filing a proposed rule change to list and trade shares of Grayscale Bitcoin Trust as a spot-based ETF has generated a long list of comments with a large majority in approval. Bloomberg’s senior ETF analyst Eric Balchunas had a look through some of the more recent comments on Feb. 15 observing that 95% are in favor of the proposed conversion. Just glancing through the many comments from ppl to the SEC re converting $GBTC to an ETF and 95% are in favor of it and most using real names and pointing to the stupefying fact that futures ETF ok but spot not. eg: pic.twitter.com/j15iNYnh8R — Eric ...
Cardano founder not sold on the idea of a Bitcoin world reserve currency
Charles Hoskinson is pessimistic of Bitcoin becoming the world reserve currency of the future He cited, among other reasons, the lack of smart contract functionality and low throughput Input Output Hong Kong CEO Charles Hoskinson has opined that Bitcoin is not fit to become a world reserve currency but acknowledged that it could evolve into suitability for the role. Hoskinson was responding to a question by Crypto Jebb on YouTube that sought to establish what evolution away from the dollar would be like. Despite Bitcoin’s first mover advantage, the Cardano CEO dismissed its submission as a world reserve currency, explaining that it was plagued by characteristics that “don’t make it very desirable.” So, why not Bitcoin? As a Proof of Work digital asset, Bitcoin mining consumes massive amoun...
Coinbase stock falls 5% pre-Wall Street as Bitcoin price dip adds to Super Bowl woes
United States cryptocurrency exchange Coinbase (COIN) has seen its shares dive 5% pre-trading after a calamitous advertising debut at the Super Bowl 2022. Data from Cointelegraph Markets Pro and TradingView showed COIN preparing to open at $194.53 before Monday’s Wall Street open. Snowden: Coinbase crash “so very internet” The Super Bowl 2022 was an event to remember for crypto investors, with several of the exchange industry’s biggest names airing full-scale ad pitches. For Coinbase, however, the publicity quickly turned sour as the platform’s website and app both crashed following promises of a $15 giveaway made in the ad itself. @coinbase just saw more traffic than we’ve ever encountered, but our teams pulled together and only had to throttle traffic for a few minutes. We are now ...
Bitcoin on-chain data hints at institutions ‘deploying capital’ at expense of ‘hodlers’
“Sophisticated passive buying” on Bitcoin (BTC) spot exchanges coincides with the trend of BTC leaving exchanges to cold storage. Adjusted Bitcoin supply shock. Source: Willy Woo The price recovery witnessed in the Bitcoin market across the last two weeks coincided with a rise in hodlers and speculative investors selling their coins, according to data provided by researcher Willy Woo. Nonetheless, BTC’s price ability to withstand the selling pressure meant there was buying pressure coming from elsewhere. As Cointelegraph reported earlier this week, so-called Bitcoin whales are accumulating BTC at current price levels. “This selling is contrasted by exchange data showing sophisticated passive buying on spot exchanges and movement of coins to whale-controlled wallets,...
Top 5 cryptocurrencies to watch this week: BTC, XRP, CRO, FTT, THETA
Bitcoin (BTC) has given back some of its recent gains, but on-chain data resource Ecoinometrics said that whales are accumulating because they believe the price is attractive from a long-term perspective. On the downside, analyst Willy Woo believes that $33,000 is a strong bottom for Bitcoin. Popular Twitter trader Credible Crypto citing data from PlanC said that the odds of Bitcoin declining below $30,000 are poor. Crypto market data daily view. Source: Coin360 Fidelity Digital Assets Head of Research Chris Kuiper believes that Bitcoin’s downside risk could be minimal when compared to other digital assets, but it could rally substantially if it manages to replace gold as a store of value. Could Bitcoin and altcoins stage a recovery after the recent pullback? Let’s study th...
Bitcoin inches towards higher weekly close with CME futures gap in focus
Bitcoin (BTC) was on the cusp of making a new higher weekly close on Feb. 13 as bulls kept the market above $42,000. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin: Potential CME gap to come Data from Cointelegraph Markets Pro and TradingView tracked fairly stress-free conditions for BTC/USD over the weekend, with the weekly candle set to conclude in under 12 hours. The pair had briefly dipped below the $42,000 mark before recovering, this setting it up to challenge last week’s close of $42,400 on Bitstamp. Should it succeed, the close would be a three-week high, Bitcoin nonetheless keeping traders guessing as a matter of a few hundred dollars separated the upcoming close from the last. If #BTC loses this 4HR Range Low as support in the short-term, tha...
Polygon price risks 50% drop as MATIC paints inverted cup and handle pattern
Polygon (MATIC) has dropped by more than 40% from its record high of $2.92, established on Dec. 27, 2021. But if a classic technical indicator is to be believed, the token has more room to drop in the sessions ahead. MATIC price chart painting classic bearish pattern MATIC’s recent rollover from bullish to bearish, followed by a rebound to the upside, has led to the formation of what appears like an inverted cup and handle pattern — a large crescent shape followed by a less extreme upside retracement, as shown in the chart below. MATIC/USD three-day price chart featuring inverted cup and handle pattern. Source: TradingView In a “perfect” scenario, inverted cup and handle setups set the stage for a downturn ahead. As they do, the price tends to fall towards levels tha...
Bitcoin dips below $42K as crypto sentiment returns to ‘fear’
Bitcoin (BTC) trended toward a $40,000 retest on Feb. 12 as BTC price action bore out analysts’ predictions. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Trader hopes to avoid ‘ugly’ weekly close Data from Cointelegraph Markets Pro and TradingView showed BTC/USD reaching local lows of $41,741 on Bitstamp Saturday before a rebound over $42,000. An about-turn had ended the pair’s advance after U.S. CPI data hit, and calls soon emerged for a return to $40,000 or even lower to see how steely bulls’ resolve really was. For Cointelegraph contributor Michaël van de Poppe, the results were still inconclusive, but caution was definitely needed going forward on short-timeframe trades. “Bitcoin looking at the same resistance still,” he sum...
Bitcoin metrics demand BTC price gains as analysis calls for ‘near-term caution’
Bitcoin (BTC) has a “possibility” of winning back more lost ground this month, but a retest of $40,000 may test bulls beforehand. In its latest market update on Feb. 11, trading suite Decentrader voiced cautious optimism over BTC price action. Derivatives turn complementary After rallying above $45,500 on the back of United States economic data, BTC/USD has since dropped back into the range that has defined it this week. For Decentrader, the chances of a low-timeframe decline are there, even if on-chain metrics are putting in rare bull signals. “Bitcoin is at a relatively neutral level with clear zones of resistance and support above and below,” the update summarized. Acting in bulls’ favor is sentiment, now in “neutral” rather than “fear” territory, and encouraging signs from de...
Drake bets $1.3M in Bitcoin on Bengals vs. Rams Super Bowl match
Drake spends his time betting more than $1 million in Bitcoin (BTC) on Super Bowl matches when he’s not running through the six with his woes. The award-winning rapper recently shared that he placed BTC bets worth a total of $1.26 million on the upcoming Superbowl match between the Cincinnati Bengals and the Los Angeles Rams. Through the crypto sports betting platform Stake, the rapper bet over $471,000 for the Rams to be the winner, including overtime. Drake also expressed his confidence in the Rams’ wide receiver Odell Beckham Jr. The musician placed around $392,000 on Beckham Jr. having more than 62.5 receiving yards and another $392,000 on the wide receiver having over 0.5 anytime touchdowns. Drake wrote, “All bets are in on the family.” Beckham Jr. replied to the post, saying, “...
Will Bitcoin ever reach $1’000’000?
Facebook WhatsApp Reddit Twitter Shares What is yours opinion about the growing of the world first online Coins, Bitcoin. Today the price of the Bitcoin is around $43,000. There are lot of speculation that the price of Bitcoin will reach $100,000 by the ends of this year. From your opinion, Will Bitcoin ever reach $1’000’000? NaijaBlog.ng .u971347f1ad4d4e6744b9aa26ab0aa85a { padding:0px; margin: 0; padding-top:1em!important; padding-bottom:1em!important; width:100%; display: block; font-weight:bold; background-color:inherit; border:0!important; border-left:4px solid #16A085!important; box-shadow: 0 1px 2px rgba(0, 0, 0, 0.17); -moz-box-shadow: 0 1px 2px rgba(0, 0, 0, 0.17); -o-box-shadow: 0 1px 2px rgba(0, 0, 0, 0.17); -webkit-box-shadow: 0 1px 2px rgba(0, 0, 0, 0.17); text-decoration:none...
