The recent price movement of Bitcoin has been a cause for concern for many investors, with the price dropping more than -22% since the mid-March high over $73,000. Jacob Canfield, a trading mentor at Trading Mastery, has offered his analysis on the potential for further decline in the Bitcoin price. Canfield’s analysis is based on
Bitcoin
Experienced trader Peter Brandt recently suggested the possibility of Bitcoin plummeting to as low as $44,000, citing a technical indicator that presents a bearish perspective for the leading cryptocurrency. According to Brandt, Bitcoin may be on the verge of forming a double top pattern, which typically signals a sharp downturn in price. The concept of
The beginning of July proved to be less bullish than anticipated for the Bitcoin and crypto market due to various factors that have disrupted market stability. The delay in the debut of Spot Ethereum ETFs on July 2nd, coupled with reports of significant BTC sell-offs by the US and German governments, have contributed to the
Opeyemi is a writer who has found his passion in the world of cryptocurrency. Despite not originally choosing the digital asset industry, he has become deeply involved in it over the past two years. Opeyemi now focuses on creating insightful pieces that explore the intricacies of blockchain technology and stay updated on the latest trends
The recent drop in Bitcoin’s price to below $54,000 on July 5 has once again highlighted the extreme volatility that plagues the cryptocurrency market. In the short term, Bitcoin has experienced a 7% decrease over the past week and a significant 20.25% decline over the last month. This sudden price movement has left many investors
The impending distribution of 142,000 BTC by the defunct crypto exchange Mt. Gox has sent shockwaves through the cryptocurrency market. This distribution, representing a significant portion of the total Bitcoin supply, has raised concerns among investors and market observers. Large transfers of Bitcoin in recent hours suggest that preparations are underway for a massive disbursement,
Renowned crypto expert Michael van de Poppe has recently brought attention to a significant indicator that could signal a crucial bounce for Bitcoin, following its recent dip below $60,000. Van de Poppe emphasized in a social media post that the CME gap for Bitcoin has closed, indicating that the time may be ripe for a
The recent crash in the crypto market has sent shockwaves throughout the industry, especially for Bitcoin and altcoins. The market-wide panic has resulted in significant losses for traders, with tens of thousands of positions being liquidated within a 24-hour period. The Bitcoin price has been on a downward spiral, plunging below $57,000 at one point
Despite the negative market sentiments surrounding Bitcoin, there has been a noticeable increase in accumulation by large investors holding more than $600,000 worth of the cryptocurrency. Over the past six months, these investors have been actively increasing their holdings, with a particular focus on wallets holding more than 10 BTC. The data from on-chain tracking
Crypto analyst Quinten François has recently made some bold claims regarding the future of Bitcoin, suggesting that the leading cryptocurrency could potentially surge to as high as $4.5 million. While this prediction may sound exciting to many investors, it begs the question of whether it is based on solid analysis or merely speculative hype. Quinten
