Bitcoin has been in the news a lot lately, mostly due to its exponential price performance over the past few weeks. However, at the time of writing, BTC was trading at a level that was nearly 8% lower than its ATH of $41,941, based on data from CoinMarketCap. While BTC has repeatedly attempted to breachContinue reading “What does Bitcoin need to breach $41,000 again?”

The dropping Bitcoin reserves led to the rally of 2021, breaking the previous ATH and hitting a new high above $41000 level. Bitcoin reserves started dropping in October 2020 and continued well into 2021. When the price crossed $30000, reserves increased to an extent before dropping again. Currently, as the price is above $38000, BTCContinue reading “Bitcoin: Is another liquidity crunch in the works?”

Institutional buying that started when Bitcoin’s price was as low as $19000 has continued well into the $40000 level. Institutions like Grayscale have consistently added to their Bitcoin holdings irrespective of the price rally and the subsequent correction. Based on data from the Coinbase chart, there is a possibility that institutional investors have bought $BTCContinue reading “Why institutional investors will support Bitcoin above the $30k level”

Bitcoin’s rally to $41000 and price discovery beyond it has been mostly straightforward. Most predictions made before the end of 2020 are looking conservative when compared to the price chart. Further price discovery is probable since the asset is trading at the $38000 level and the weekly change in price is 1.58 percent. The 24-hourContinue reading “Everything you need to know about the current state of the Bitcoin rally”

Bitcoin’s activity on Twitter is edging closer to its 2017 levels, based on data from Arcane Research. In fact, the 7-day average of tweets mentioning Bitcoin is back at its December 2017 high, with the number of Twitter users mentioning Bitcoin already surpassing its old peak, based on data from Arcane Research’s chart on BitcoinContinue reading “Twitter is sold on Bitcoin – What now?”

After crossing the $1,300-mark on the 10th of January 2021 to touch $1,339 on the price charts, Ethereum fell. However, while ETH has since recovered, the said recovery has been slower than anticipated, with the latest correction in Bitcoin’s prices possibly being a reason for the delay. In fact, Ethereum’s correlation with Bitcoin has alwaysContinue reading “What’s stopping Ethereum from climbing to its new ATH?”

After a stellar two weeks that saw the cryptocurrency hit an ATH of $41,941 on the charts, Bitcoin’s price corrected to fall to the $34,000-level. With Bitcoin valued at $34,606 at the time of writing,  it is worth noting that this market cycle during this bull season has largely been a case of two stepsContinue reading “Is another Bitcoin price drop incoming?”

The alt season of 2017 was an accessory to Bitcoin’s bull run. Once Bitcoin’s price rallied to a new ATH, investment started pouring in for altcoin projects. This meant there wasn’t much independence in altcoin rallies. Besides, short-term BTC tops were followed by altcoin rallies as investment flowed in and out faster, in altcoins. However,Continue reading “Why altcoins may be independent of Bitcoin in 2021”

With the recent spike in Bitcoin’s price, its market capitalization is nearly 7% that of Gold. On-chain analysts and crypto influencers on Twitter have been calling for Gold Flippening and this could be the first step in that direction. Back in October 2020, when Bitcoin’s network momentum was increasing steadily, Bitcoin’s correlation with Gold wasContinue reading “Bitcoin’s market cap is now 7% that of gold, what does this mean?”

With Bitcoin’s price crossing $41000 and hitting a new ATH, there are several stories on the internet examining the similarity between the current and the bull runs in 2013 and 2017, which may just be a desperate effort to predict the price trend. However, there are a few metrics that support this comparison. One ofContinue reading “2013 vs 2017 vs 2021 Bitcoin bull runs: What’s the deciding factor?”

Most Bitcoin price predictions by technical and on-chain analysts on Crypto Twitter are pointing towards further price discovery beyond $41000 and top on-chain analyst Willy Woo commented on this debate in a twitter thread arguing that BTC may never ever see the $20k price range again, as it currently settles above the $40k level.  Continue reading “What are the chances that Bitcoin will ever see $20,000 again?”

The 7-day average BTC volume on leading spot exchanges are now above $10 billion for the first time in Bitcoin’s history. On Jan 7, 2021, the daily volume reached an ATH of $13.8 Billion. This is 130% higher than the peak from Dec 2017 of $6 Billion based on data from Arcane Research. Apart fromContinue reading “Here’s why Bitcoin’s 2021 price rally is 130% better than that of 2017”