There’s a number of tools, charts, and models traders use to help them forecast bitcoin price cycles and our last article discussed leveraging the Golden Ratio Multiplier. The following editorial discusses another method of bitcoin price prediction analysis by utilizing Logarithmic Growth Curves. In September 2019, a comprehensive paper published by Harold Christopher Burger describes …
Continue reading “Visualizing Bitcoin’s Future Price Cycles With the Power-Law Corridor Model”
Bitcoin’s mining difficulty dropped this week at block height 685,440 and saw the largest negative drop of the year losing close to 16%. Overall the global hashrate has dropped around 2% since the price fell below the $40k handle. Currently, the mining difficulty is around 21 trillion, and it could drop another 16% in less …
Litecoin Averages $200 Resistance – May 31The present LTC/USD trading outlook suggests that the crypto’s price averages $200 resistance line after making a slight reversal from a lower point. As of writing, the market witnesses a 6.82% increment to trade around the value of $183. Averages $200 Resistance: LTC MarketKey Levels:Resistance levels: $200, $250, $300Support …
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Pro traders have been buying ultra bullish Bitcoin $100,000 to $200,000 options, but how confident are they that these targets will be achieved? Bitcoin (BTC) is fast approaching its worst monthly performance in a decade, but some investors are using this as an opportunity to buy ultra-bullish long-term derivatives. There are currently over $900 million …
Continue reading “How relevant is the $900M open interest on Bitcoin options above $100K?”
As Bitcoin’s price shows new signs of bullish momentum, data from various on-chain indicators suggests that the current sell-off is reaching an end. Bitcoin has entered a consolidation phase following its May 19 crash from $42,600 to $30,000 on Coinbase. The flagship cryptocurrency recovered its losses quickly and reclaimed $40,000, but it failed to log …
Continue reading “3 on-chain indicators suggest the Bitcoin price sell-off is losing steam”
The Hashpalette token sale on Coincheck is set to become Japan’s maiden initial exchange offering event. Coincheck’s goal of conducting the first-ever initial exchange offering in Japan is moving closer to becoming a reality. According to a release issued on Monday, the Japanese crypto exchange announced that the Hashpalette (HPT) initial exchange offering will take …
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Bitcoin Price Prediction – May 31 The Bitcoin price is currently moving below $37,000 after the king coin hits an intraday high of $37,494. BTC/USD Long-term Trend: Bearish (Daily Chart) Key levels: Resistance Levels: $45,000, $50,000, $55,000 Support Levels: $28,000, $23,000, $18,000 BTCUSD – Daily Chart At the time of writing, BTC/USD is hovering around …
Continue reading “Bitcoin Price Prediction: Is BTC/USD Ready for $40,000 Resistance?”
A former executive from the People’s Bank of China (PBoC) has stated that developing the digital yuan will help create competition for Alipay-like payment platforms. The digital yuan will be created using smart contracts. Yao Qian, a former executive of PBoC, gave his remarks during the International Finance Forum in Beijing. Alipay is a private …
Bitcoin and altcoins are attempting to start a relief rally, suggesting traders have decided to start buying at lower levels. Bitcoin’s (BTC) massive drop in May 2021 is among its worst monthly performances, according to data from Bybt. The decline has divided the crypto community, with long-term investors considering the fall as a buying opportunity …
Continue reading “Price analysis 5/31: BTC, ETH, BNB, ADA, XRP, DOGE, DOT, UNI, ICP, BCH”
Institutional miners and hobbyists alike are taking advantage of energy subsidies to cash in. While the broader crypto market suffers through a painful slump, a new report today indicates that Bitcoin miners in Argentina are thriving as they take advantage of convoluted energy policies. A report from Bloomberg republished in the Buenos Aires Times says …
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Polygon’s decentralized finance footprint continues to grow, with 0x releasing a version of its decentralized exchange liquidity aggregator API on the “Ethereum scaler.” 0x has released a Polygon version API for its decentralized exchange (DEX) liquidity aggregator, opening up the 0x API tool to the expanding Polygon market. The DEX liquidity bridge service announced the …
Banks like HDFC and the State Bank of India reportedly cautioned customers against crypto, citing the RBI’s quashed crypto circular. India’s central bank has issued an official notice regarding the fact that local banks are reportedly cautioning customers against using cryptocurrencies like Bitcoin (BTC). Published Monday, the notice points out that the Reserve Bank of …
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Bitcoin Price Prediction – May 31 The Bitcoin price trades below the 9-day moving average as the bulls failed to break into the upside. BTC/USD Long-term Trend: Bearish (Daily Chart) Key levels: Resistance Levels: $43,000, $45,000, $48,000 Support Levels: $30,000, $27,000, $24,000 BTCUSD – Daily Chart At the time of writing, BTC/USD is correcting upwards …
Continue reading “Bitcoin Price Prediction: BTC/USD Could Hit $45,000 or Crash to $25,000”
Strives to Make Swing-high – May 31There have been several indications that the market of ETH/USD now strives to make swing-high past a key level of $2,500 that has been one of the most difficult lower trading lines that the crypto experiences. The crypto now makes an appreciation move to trade around the level of …
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Indian central bank, the Reserve Bank of India (RBI), has officially advised banks that its banking ban circular is no longer valid as it was set aside by the country’s supreme court more than one year ago. Despite the supreme court’s ruling, banks have been citing the RBI circular when dealing with cryptocurrency. RBI Tells …
