Bitcoin Price Lost and Found
Has this market not provided a wild ride the past few weeks? We’ve been everywhere except to the moon – however, if you were short, then you’d probably dispute that statement.
In fact, shorters have had a wonderful holiday season. BTC tumbled into the mid-$6K region, a place that many a traumatized crypto hodler hoped never to revisit again. And yet, we’ve not only gone there, but are hanging out just above support.
If you’re looking for some bright side to the situation, you don’t have to look very far. The all-important $6800 support has held – for now. Keep in mind that the last time support in that area broke down, we fell straight to $3,200.
As long as BTC can hold strong to this level, then we can start thinking about a trip back above water.
Bitcoin Dominance Creeping Higher
The cryptocurrency bear market has disproportionately affected altcoins. That is, of course, to be expected considering the second fiddle nature most play to Bitcoin.
That being said, BTC dominance up near the 70% mark is something rare enough in the past few years. Let’s be straight – altcoins are getting utterly rocked, manipulated, and discarded. For an Exhibit A display, look no further than the MATIC charts of late.
Altcoins are dangerously difficult to trade lately, which is pushing more and more money back into BTC or stablecoins. It’s an unsurprising trend pointing straight at the fear currently possessing the market.
B…b…But, What About the Halving?
Isn’t the halving supposed to make all BTC hodlers rich? Wasn’t the ride up to the moon supposed to have started by now? …What gives?
We hear you – and, to be quite honest, we’re not sure what gives, either. However, compared to past halvings, the stakes at this stage in the crypto game are WAY higher than ever before. The sheer amount of deep pockets in the market nowadays, along with the king-making rewards to be gained from playing the next halving right, make the approach less straightforward than ever before.
With that in mind, you can count on the games to continue well into
Q1. The question on everyone’s mind in this dangerously close standoff is: How low will bears push before flipping the switch? Bulls and bears are two sides of the same coin. Bears who are pushing for the lowest possible price today will simply step over the line and go long tomorrow once they’re satisfied.
To that end, resist dogmas, narratives, and stay flexible. In times like these, your best defense is an open mind, a patient outlook, and slow movements.
Has this market not provided a wild ride the past few weeks? We’ve been everywhere except to the moon – however, if you were short, then you’d probably dispute that statement.
In fact, shorters have had a wonderful holiday season. BTC tumbled into the mid-$6K region, a place that many a traumatized crypto hodler hoped never to revisit again. And yet, we’ve not only gone there, but are hanging out just above support.
If you’re looking for some bright side to the situation, you don’t have to look very far. The all-important $6800 support has held – for now. Keep in mind that the last time support in that area broke down, we fell straight to $3,200.
As long as BTC can hold strong to this level, then we can start thinking about a trip back above water.
Bitcoin Dominance Creeping Higher
The cryptocurrency bear market has disproportionately affected altcoins. That is, of course, to be expected considering the second fiddle nature most play to Bitcoin.
That being said, BTC dominance up near the 70% mark is something rare enough in the past few years. Let’s be straight – altcoins are getting utterly rocked, manipulated, and discarded. For an Exhibit A display, look no further than the MATIC charts of late.
Altcoins are dangerously difficult to trade lately, which is pushing more and more money back into BTC or stablecoins. It’s an unsurprising trend pointing straight at the fear currently possessing the market.
B…b…But, What About the Halving?
Isn’t the halving supposed to make all BTC hodlers rich? Wasn’t the ride up to the moon supposed to have started by now? …What gives?
We hear you – and, to be quite honest, we’re not sure what gives, either. However, compared to past halvings, the stakes at this stage in the crypto game are WAY higher than ever before. The sheer amount of deep pockets in the market nowadays, along with the king-making rewards to be gained from playing the next halving right, make the approach less straightforward than ever before.
With that in mind, you can count on the games to continue well into
Q1. The question on everyone’s mind in this dangerously close standoff is: How low will bears push before flipping the switch? Bulls and bears are two sides of the same coin. Bears who are pushing for the lowest possible price today will simply step over the line and go long tomorrow once they’re satisfied.
To that end, resist dogmas, narratives, and stay flexible. In times like these, your best defense is an open mind, a patient outlook, and slow movements.
The DApp markey is getting so big, it’s making Google and Apple worry
After the DApp browser MetaMask got removed from the Google Play Store, Apple followed suit and is forcing crypto exchange Coinbase to remove the DApp browser feature from its iOS app. While many saw this as blatant censorship and a danger to the crypto industry, it goes to show that the DApp market has gotten so big, it’s putting both Google and Apple at risk.
After the DApp browser MetaMask got removed from the Google Play Store, Apple followed suit and is forcing crypto exchange Coinbase to remove the DApp browser feature from its iOS app. While many saw this as blatant censorship and a danger to the crypto industry, it goes to show that the DApp market has gotten so big, it’s putting both Google and Apple at risk.
Bitcoin to the Moon in 2020?
It’s officially the new year in every part of the world, unless you reside in a timezone we are completely unaware of. Thank you for all of your support, engagement, and motivation in 2019 – it has kept the Bravado mission of crypto-education alive and well.
Going into 2020, we’re launching new products that will solidify your understanding, awareness, and mobility within crypto – so, watch this space. Having said that, let’s do a recap of some of 2019’s top crypto moments.
Bitcoin Grows a Pair of Wings
Rising from the ashes of 2018 bear market despair, BTC was launched into orbit after a dismal period marked by a $3,200 price floor. In what felt like one fell swoop, Bitcoin took out ambitious target after target, going straight through overhead resistance until it had all but swept up the $14,000 mark.
For a moment, it looked primed to retest previous all-time highs, but that wasn’t to be. A retrace has reduced gains by nearly half, but the market has still seen hand-over-fist gains compared to this time last year.
Retail Investors Abandon Hope
Despite the incredible gains seen through the first half of the year, the green was mostly restricted to BTC and a handful of other assets. The altcoin market, by and large, has performed pretty poorly.
Conferences, mainnet launches, partnerships – none of these price-boosters of old seem to have the same magic anymore. There were some bright spots such as Chainlink, but such success stories were far from common.
Retail investors have seemingly lost interest in crypto as evidenced by the abandonment of spaces like Crypto Twitter, subreddits like EthTrader, and Telegram groups. Those who have weathered both the good and the bad have largely done so by tuning out entirely.
Will a run-up toward the Bitcoin halving in May change that? We’ll definitely find out.
Craig Wright Flexes on Hodlonaut, Gets Shut Down
Everyone’s least favorite Satoshi imposter crossed the line earlier this year when he started a legal suit rampage against his doubters. Amongst those doubters was Hodlonaut, a Twitter cat wearing a spacesuit.
After Wright threatened to sue and unmask Hodlonaut, the entire cryptosphere banded together in a scene reminiscent of the Avengers: End Game. To add a bit of comeuppance to the entire scenario, Wright was also owned in the court of law, where he was ruled against and ordered to hand over half his BTC to the estate of Dave Kleiman.
Bakkt Gains Steam
Despite its initial debut being widely panned as a failure, Bakkt has bounced back to claim higher highs throughout a turbulent (and mostly down) market.
In another telling moment, Bakkt’s CEO, Kelly Loeffler, resigned after being appointed to the US Senate, where hopefully she’ll continue campaigning for a crypto future.
Next, we’ll look ahead to 2020 with an analysis of trends and events to watch for. Until then!
It’s officially the new year in every part of the world, unless you reside in a timezone we are completely unaware of. Thank you for all of your support, engagement, and motivation in 2019 – it has kept the Bravado mission of crypto-education alive and well.
Going into 2020, we’re launching new products that will solidify your understanding, awareness, and mobility within crypto – so, watch this space. Having said that, let’s do a recap of some of 2019’s top crypto moments.
Bitcoin Grows a Pair of Wings
Rising from the ashes of 2018 bear market despair, BTC was launched into orbit after a dismal period marked by a $3,200 price floor. In what felt like one fell swoop, Bitcoin took out ambitious target after target, going straight through overhead resistance until it had all but swept up the $14,000 mark.
For a moment, it looked primed to retest previous all-time highs, but that wasn’t to be. A retrace has reduced gains by nearly half, but the market has still seen hand-over-fist gains compared to this time last year.
Retail Investors Abandon Hope
Despite the incredible gains seen through the first half of the year, the green was mostly restricted to BTC and a handful of other assets. The altcoin market, by and large, has performed pretty poorly.
Conferences, mainnet launches, partnerships – none of these price-boosters of old seem to have the same magic anymore. There were some bright spots such as Chainlink, but such success stories were far from common.
Retail investors have seemingly lost interest in crypto as evidenced by the abandonment of spaces like Crypto Twitter, subreddits like EthTrader, and Telegram groups. Those who have weathered both the good and the bad have largely done so by tuning out entirely.
Will a run-up toward the Bitcoin halving in May change that? We’ll definitely find out.
Craig Wright Flexes on Hodlonaut, Gets Shut Down
Everyone’s least favorite Satoshi imposter crossed the line earlier this year when he started a legal suit rampage against his doubters. Amongst those doubters was Hodlonaut, a Twitter cat wearing a spacesuit.
After Wright threatened to sue and unmask Hodlonaut, the entire cryptosphere banded together in a scene reminiscent of the Avengers: End Game. To add a bit of comeuppance to the entire scenario, Wright was also owned in the court of law, where he was ruled against and ordered to hand over half his BTC to the estate of Dave Kleiman.
Bakkt Gains Steam
Despite its initial debut being widely panned as a failure, Bakkt has bounced back to claim higher highs throughout a turbulent (and mostly down) market.
In another telling moment, Bakkt’s CEO, Kelly Loeffler, resigned after being appointed to the US Senate, where hopefully she’ll continue campaigning for a crypto future.
Next, we’ll look ahead to 2020 with an analysis of trends and events to watch for. Until then!
Decision Time for BTC
Hey Miners — did you check in on the crypto market this weekend? If you had not, well then, you may be in for a surprise...in a good way, of course.
BTC was back above $10K for the first time since October 2019. More importantly, it is also back over the 200-day MA. That’s notable because, as Tom Lee of Fundstrat put it earlier this week, anytime BTC has broken the 200-day MA, it’s gone on to record an average 197% gain over six months.
We’re up over 40% since the start of the year, meaning if there is anything like a 197% gain on the cards, we ain’t seen nothin’ yet.
Of course, it’s impossible to deny the connection between Bitcoin’s strength and that of traditional markets like the Dow Jones and Nasdaq. The stellar performance of those markets seems to be adding fuel to the fire in crypto, but what’s really going on behind these strong markets during a time of turbulence?
Markets Are Rallying on Turbulence
Western markets, particularly those in the US, are experiencing strong rallies since the Coronavirus made itself truly known in China. One would expect the opposite effect — that disruptions to the usual flow of capital, so tied in with China, would fuel major problems for globalized businesses worldwide.
That’s true, but it is only a fraction of the picture. Many see this moment as a turning point in the global balance of supply chain logistics. As businesses have to rely so strongly on China for nearly every step in the supply chain, the disruption caused by the current pandemic has shown businesses the dangers of keeping all their eggs in one basket.
It’s prompted many businesses to consider — and put into practice — moving jobs back to the businesses’ country of origin.
However, the initial euphoria being experienced in markets may give way at any moment to the true economic reality being painted by the pandemic and effective closure of China, the world’s #2 GDP economy. Bulls may be pushing markets higher now knowing full well that a China-led global recession may be in the cards.
Be that as it may, Bitcoin is tagging along for the fun.
Bitcoin — An Asset for Turbulent Times?
This leads us back to the million-dollar question — is BTC a safe-haven asset? We view the current scenario as one testing the mettle of that belief. Should Bitcoin continue prospering even as global pandemonium increases, then we’ll have to side with yes as an answer.
Again, BTC hasn’t had to face a true recession or widespread market downturn on the order of the dot-com crash in 2000. So, as the volume on havoc turns up, keep watching to see how Bitcoin reacts, especially with the halving at hand and the reality of digital gold coming closer to hand.
Hey Miners — did you check in on the crypto market this weekend? If you had not, well then, you may be in for a surprise...in a good way, of course.
BTC was back above $10K for the first time since October 2019. More importantly, it is also back over the 200-day MA. That’s notable because, as Tom Lee of Fundstrat put it earlier this week, anytime BTC has broken the 200-day MA, it’s gone on to record an average 197% gain over six months.
We’re up over 40% since the start of the year, meaning if there is anything like a 197% gain on the cards, we ain’t seen nothin’ yet.
Of course, it’s impossible to deny the connection between Bitcoin’s strength and that of traditional markets like the Dow Jones and Nasdaq. The stellar performance of those markets seems to be adding fuel to the fire in crypto, but what’s really going on behind these strong markets during a time of turbulence?
Markets Are Rallying on Turbulence
Western markets, particularly those in the US, are experiencing strong rallies since the Coronavirus made itself truly known in China. One would expect the opposite effect — that disruptions to the usual flow of capital, so tied in with China, would fuel major problems for globalized businesses worldwide.
That’s true, but it is only a fraction of the picture. Many see this moment as a turning point in the global balance of supply chain logistics. As businesses have to rely so strongly on China for nearly every step in the supply chain, the disruption caused by the current pandemic has shown businesses the dangers of keeping all their eggs in one basket.
It’s prompted many businesses to consider — and put into practice — moving jobs back to the businesses’ country of origin.
However, the initial euphoria being experienced in markets may give way at any moment to the true economic reality being painted by the pandemic and effective closure of China, the world’s #2 GDP economy. Bulls may be pushing markets higher now knowing full well that a China-led global recession may be in the cards.
Be that as it may, Bitcoin is tagging along for the fun.
Bitcoin — An Asset for Turbulent Times?
This leads us back to the million-dollar question — is BTC a safe-haven asset? We view the current scenario as one testing the mettle of that belief. Should Bitcoin continue prospering even as global pandemonium increases, then we’ll have to side with yes as an answer.
Again, BTC hasn’t had to face a true recession or widespread market downturn on the order of the dot-com crash in 2000. So, as the volume on havoc turns up, keep watching to see how Bitcoin reacts, especially with the halving at hand and the reality of digital gold coming closer to hand.
BTC further rejects $10K
Data showed BTC/USD hitting twelve-day lows of $9,485 on Monday. At press time, the BTC price was struggling to find support at $9,500.
The shift lower followed a four-day slide for Bitcoin, which had topped out at $10,500 before seeing considerable resistance in.
Some traders appeared worried, as evidenced by a single deposit onto derivatives giant BitMEX on Monday, which totaled 600 BTC ($5.72 million).
Weekly losses totaled around 3.5% on the day, while monthly performance remained strong at 7% growth.
As we reported, year-to-date returns for Bitcoin investors likewise remain intact at nearly 40%.
Data showed BTC/USD hitting twelve-day lows of $9,485 on Monday. At press time, the BTC price was struggling to find support at $9,500.
The shift lower followed a four-day slide for Bitcoin, which had topped out at $10,500 before seeing considerable resistance in.
Some traders appeared worried, as evidenced by a single deposit onto derivatives giant BitMEX on Monday, which totaled 600 BTC ($5.72 million).
Weekly losses totaled around 3.5% on the day, while monthly performance remained strong at 7% growth.
As we reported, year-to-date returns for Bitcoin investors likewise remain intact at nearly 40%.
While the equity markets are taking a huge hit today, the cryptocurrency market and Bitcoin price are remaining relatively stable over the weekend and into the start of this week. As the stock market pulls back traders will begin to speculate on whether the crypto market will react in a bearish or bullish manner. Is this just the calm before the storm?
One thing to note is crypto trading volume has drained away over the past few days. With volume going down, perhaps this is a signal that a big move will take place in the market soon.
One thing to note is crypto trading volume has drained away over the past few days. With volume going down, perhaps this is a signal that a big move will take place in the market soon.
While the Ethereum network is preparing to start shifting to proof-of-stake (PoS) consensus, some mining devices might soon stop supporting ETH mining at all.
Bitmain’s Antminer E3, once the “world's most powerful” hardware for mining Ether (ETH), will allegedly stop Ethereum mining in April 2020, according to a Feb. 24 report by altcoin mining pool 2Miners.
Bitmain’s Antminer E3, once the “world's most powerful” hardware for mining Ether (ETH), will allegedly stop Ethereum mining in April 2020, according to a Feb. 24 report by altcoin mining pool 2Miners.
Stock Markets Are Falling on News of Coronavirus and Closed Borders 🔥
GOOGL -4.29%
MSFT -4.31%
AMZN -4.14%
AAPL -4.75%
FB -4.5%
TSLA -7.4%
On Tuesday, global stock markets continued to fall from February 19 amid concerns that the Coronavirus could have a wider economic impact than anticipated. Meanwhile, the World Health Organization (WHO) announced Monday morning that a global coronavirus pandemic has not yet occurred, but is quite possible.
Meanwhile, Gold has broken the price record for the past 7 years, reaching $ 1,689. Interestingly, Bitcoin did not join the Gold rally and continued fall as part of the uptrend.
GOOGL -4.29%
MSFT -4.31%
AMZN -4.14%
AAPL -4.75%
FB -4.5%
TSLA -7.4%
On Tuesday, global stock markets continued to fall from February 19 amid concerns that the Coronavirus could have a wider economic impact than anticipated. Meanwhile, the World Health Organization (WHO) announced Monday morning that a global coronavirus pandemic has not yet occurred, but is quite possible.
Meanwhile, Gold has broken the price record for the past 7 years, reaching $ 1,689. Interestingly, Bitcoin did not join the Gold rally and continued fall as part of the uptrend.
Forwarded from Canva
United Kingdom-based digital bank Revolut has raised $500 million in a fresh funding round and tripled its valuation to hit $5.5 billion. This, as the Financial Times reported on Feb. 25, makes the crypto-supporting app one of Europe’s most valuable fintech firms.
Crypto Knocked by Virus Worries
Just when a major cryptocurrency renaissance was getting underway, a global pandemic has knocked the wind from Bitcoin et al.
In the lead-up to the BTC halving event, it seemed for a moment like there was simply no stopping the world’s number one digital asset. However, nature had other plans as the Coronavirus emerged and quickly spread across the globe.
Surely you need no refresher on the last point as the virus has been the world’s main talking point for weeks now. Both traditional and digital asset markets have finally caught up with the news, leaving traders in the red everywhere from the NYSE trading floor to the halls of the Shanghai Stock Exchange.
Store of Value No More?
For cryptocurrency traders like ourselves, the decline in crypto fortunes led most notably by BTC’s fall under $7,800 signals an impending end to the store of value use case. It is one thing to declare an asset a store of value during times of acceptable turbulence. But, it is clearly another for that same asset to actually act like an SoV when the going gets tough.
And boy, the going is getting tough.
So, in Bitcoin’s first real test as a store of value asset, it is hanging in the ring but appears as to be fatiguing from the fight. The remainder of this month will be crucial for determining what to expect from the first half of 2020, especially as traders gear up for the halving event.
Ethereum Foreshadows
Ethereum showed us the way up, now it will lead the way down. ETH has preceded price moves for the rest of the market, and at current, is also diving the hardest, too.
Does that foreshadow fortunes for other top tier assets? Today, ETHUSD has led the way down with over -5% in losses, shedding close to $100 since the downtrend began. The ETHBTC ratio hasn’t fared much better but may be buoyed by Bitcoin’s drop in tandem with it.
At the moment, there is no telling how far down digital -- assets may go since they are currently at the mercy of global events — and appear entirely correlated to traditional asset markets.
Given the uncertainty and apparent selling pressure, we’re taking a wait and see approach with maximum de-risking practices in place to Stack our wealth; this includes our use of automated trading technologies - which you all will receive exclusive access to in the coming weeks!
Just when a major cryptocurrency renaissance was getting underway, a global pandemic has knocked the wind from Bitcoin et al.
In the lead-up to the BTC halving event, it seemed for a moment like there was simply no stopping the world’s number one digital asset. However, nature had other plans as the Coronavirus emerged and quickly spread across the globe.
Surely you need no refresher on the last point as the virus has been the world’s main talking point for weeks now. Both traditional and digital asset markets have finally caught up with the news, leaving traders in the red everywhere from the NYSE trading floor to the halls of the Shanghai Stock Exchange.
Store of Value No More?
For cryptocurrency traders like ourselves, the decline in crypto fortunes led most notably by BTC’s fall under $7,800 signals an impending end to the store of value use case. It is one thing to declare an asset a store of value during times of acceptable turbulence. But, it is clearly another for that same asset to actually act like an SoV when the going gets tough.
And boy, the going is getting tough.
So, in Bitcoin’s first real test as a store of value asset, it is hanging in the ring but appears as to be fatiguing from the fight. The remainder of this month will be crucial for determining what to expect from the first half of 2020, especially as traders gear up for the halving event.
Ethereum Foreshadows
Ethereum showed us the way up, now it will lead the way down. ETH has preceded price moves for the rest of the market, and at current, is also diving the hardest, too.
Does that foreshadow fortunes for other top tier assets? Today, ETHUSD has led the way down with over -5% in losses, shedding close to $100 since the downtrend began. The ETHBTC ratio hasn’t fared much better but may be buoyed by Bitcoin’s drop in tandem with it.
At the moment, there is no telling how far down digital -- assets may go since they are currently at the mercy of global events — and appear entirely correlated to traditional asset markets.
Given the uncertainty and apparent selling pressure, we’re taking a wait and see approach with maximum de-risking practices in place to Stack our wealth; this includes our use of automated trading technologies - which you all will receive exclusive access to in the coming weeks!
Uncharted Territory for Bitcoin, and Everything Else With It
What in the world just happened? Between a global lockdown, travel restrictions galore, and both stock and crypto market crashes followed by rallies, one might be tempted to throw in the towel on speculating what’s next.
And no one would blame you — certainly not us. In case you were stuck in a long line outside of the grocery store to buy toilet paper, here’s a wrap-up of recent mind-boggling events.
Crypto Craters, Then Moons
If you were just looking at the BTC charts within any contextual info, this would be impressive enough. But the fact that it’s all related to an unprecedented pandemic and global economic meltdown makes the crash —> recovery even wilder.
Unorthodox Trading Methods
Some traders have tee’d themselves up using a combination of TA and celestial events like the spring equinox. Others have firmly counter-traded the trend & well-timed a falling knife buy, while yet others went to cash and are waiting for a sign.
If this rally amidst record-shattering unemployment claims, soaring infection numbers, and dismal economic prospects in near, mid, and long term timeframes seems suspect, we don’t blame you. Rationally (and fundamentally) speaking, it doesn’t seem like there is any visible upside for now to paint a positive picture.
Traders in both traditional stock markets and crypto may be juicing the confusion for all its worth — a bit like they did in the lead-up to the first virus-induced losses in mid-March. While some insiders had been selling off stock since February (google Sen. Burr), others appeared to add impetus to markets, sending them higher before vivaciously shorting from atop the world.
The threat of being dumped on again looms large, but one interesting spin on the current situation comes to us via the impending halving. With Bitcoin inflation set to lower in May, how low can BTC realistically go — no matter how bad the news gets?
Lots of few, and few answers, Bravado family. We’re in uncharted territory here — so let’s stick together. Please stay safe out there! A healthy trader is a good trader, so keep washing those hands and we’ll update you again shortly.
What in the world just happened? Between a global lockdown, travel restrictions galore, and both stock and crypto market crashes followed by rallies, one might be tempted to throw in the towel on speculating what’s next.
And no one would blame you — certainly not us. In case you were stuck in a long line outside of the grocery store to buy toilet paper, here’s a wrap-up of recent mind-boggling events.
Crypto Craters, Then Moons
If you were just looking at the BTC charts within any contextual info, this would be impressive enough. But the fact that it’s all related to an unprecedented pandemic and global economic meltdown makes the crash —> recovery even wilder.
Unorthodox Trading Methods
Some traders have tee’d themselves up using a combination of TA and celestial events like the spring equinox. Others have firmly counter-traded the trend & well-timed a falling knife buy, while yet others went to cash and are waiting for a sign.
If this rally amidst record-shattering unemployment claims, soaring infection numbers, and dismal economic prospects in near, mid, and long term timeframes seems suspect, we don’t blame you. Rationally (and fundamentally) speaking, it doesn’t seem like there is any visible upside for now to paint a positive picture.
Traders in both traditional stock markets and crypto may be juicing the confusion for all its worth — a bit like they did in the lead-up to the first virus-induced losses in mid-March. While some insiders had been selling off stock since February (google Sen. Burr), others appeared to add impetus to markets, sending them higher before vivaciously shorting from atop the world.
The threat of being dumped on again looms large, but one interesting spin on the current situation comes to us via the impending halving. With Bitcoin inflation set to lower in May, how low can BTC realistically go — no matter how bad the news gets?
Lots of few, and few answers, Bravado family. We’re in uncharted territory here — so let’s stick together. Please stay safe out there! A healthy trader is a good trader, so keep washing those hands and we’ll update you again shortly.
Bitcoin to World, “Hodl my beer”
Today is Wednesday, April 29th, 2020, and we officially have liftoff in the cryptocurrency market.
Our last update came to you after COVID–19 kicked off an impressive downward spiral that left us speechless. So, it feels good to come full circle with an epic green candle taking BTC near the $9,000 mark.
Are there clear skies ahead, or can we expect more turbulence?
BTC takes out $8,500 resistance with ease
The speed with which Bitcoin took down the key $8,500 resistance level tells us much about its strength heading into the Bitcoin halving.
Whereas many expected $8.5K to play a key defensive role for the bear case, that scenario simply didn’t materialize with bulls arriving on the scene en masse. Within 24 hours, bulls propelled BTC over 11%, providing a slam dunk for crypto optimists everywhere.
The current rally formed after BTC hit lows in the $3K region following a worldwide asset selloff on March 12th. Since then, BTC has gone from strength to strength, only lightly tapping the brakes on a few occasions to book gains (most notably in the last pullback to $6,800).
Back to the futures gap
Bitcoin may be targeting the CME futures gap at $9,125 next, giving bulls the impetus they need to keep steamrolling ahead. If that’s the case, decision time for crossing the $9K mark is imminent as the halving date grows nearer.
Of course, BTC’s recent growth surrounding halving hype leads to the question of how sustainable this growth is, and what might happen after the halving passes – but we’ll leave speculation for our next update.
For now, kick back and enjoy the ride. With the news cycle being what is it is these days, and many of us existing in blurred space-time continuums (AKA indoor lockdowns), this ray of sunshine provided by BTC is much appreciated.
Today is Wednesday, April 29th, 2020, and we officially have liftoff in the cryptocurrency market.
Our last update came to you after COVID–19 kicked off an impressive downward spiral that left us speechless. So, it feels good to come full circle with an epic green candle taking BTC near the $9,000 mark.
Are there clear skies ahead, or can we expect more turbulence?
BTC takes out $8,500 resistance with ease
The speed with which Bitcoin took down the key $8,500 resistance level tells us much about its strength heading into the Bitcoin halving.
Whereas many expected $8.5K to play a key defensive role for the bear case, that scenario simply didn’t materialize with bulls arriving on the scene en masse. Within 24 hours, bulls propelled BTC over 11%, providing a slam dunk for crypto optimists everywhere.
The current rally formed after BTC hit lows in the $3K region following a worldwide asset selloff on March 12th. Since then, BTC has gone from strength to strength, only lightly tapping the brakes on a few occasions to book gains (most notably in the last pullback to $6,800).
Back to the futures gap
Bitcoin may be targeting the CME futures gap at $9,125 next, giving bulls the impetus they need to keep steamrolling ahead. If that’s the case, decision time for crossing the $9K mark is imminent as the halving date grows nearer.
Of course, BTC’s recent growth surrounding halving hype leads to the question of how sustainable this growth is, and what might happen after the halving passes – but we’ll leave speculation for our next update.
For now, kick back and enjoy the ride. With the news cycle being what is it is these days, and many of us existing in blurred space-time continuums (AKA indoor lockdowns), this ray of sunshine provided by BTC is much appreciated.
Forwarded from Canva
Coinmarketcap is 1 of 2 big Binance acquisitions that they previously hinted. The other is one of the following:
1. Bitgo
2. Babel (a chinese crypto lending company)
3. a certain digital bank
Coinmarketcap acquisition price is actually less than $400m but a good deal for both sides nonetheless.
1. Bitgo
2. Babel (a chinese crypto lending company)
3. a certain digital bank
Coinmarketcap acquisition price is actually less than $400m but a good deal for both sides nonetheless.