Bitcoin Could Drop to $12k – $15k if it Enters a Bear Market – Analyst

MagicPoopCannon has explored the possibility of Bitcoin entering a bear market If it happens, Bitcoin could drop to as low as $12k or $15k Bitcoin is currently trading below the 50-day moving average which is a sign of weakness Magic speculates that perhaps Tesla knew Bitcoin was near a top hence the announcement to stop accepting BTC for car payments Bitcoin and crypto analyst, MagicPoopCannon, has explored a possible scenario of Bitcoin has entered a bear market with the recent dip below $50k. According to Magic, Bitcoin is currently trading…

Read More

Bitcoin (BTC) Inflows into Crypto Exchanges Hit a 1 Year High

The amount of Bitcoin (BTC) being deposited into crypto exchanges has hit a one year high The new pattern is the result of Elon’s comments that Bitcoin mining is not energy efficient Bitcoin has since struggled to maintain the $50k support However, there are some Bitcoin whales scooping up the sold BTC The amount of Bitcoin being deposited into crypto exchanges by investors has reached a one-year high. This new trend was identified by the team at CryptoQuant through the following tweet. The daily average amount of inflows for all…

Read More

MicroStrategy Buys 271 Bitcoin for $15M at an Average Price of $55,387

MicroStrategy has bought 271 Bitcoin for $15 Million Each Bitcoin was bought at an average price of $55,387 MicroStrategy now holds 91,850 Bitcoin purchased at a total of $2.241Billion and at an average entry price of $24,403 The Bitcoin is now twice the initial investment at $4.592 Billion Bitcoin is currently attempting to reclaim $50k after Tesla stopped accepting Bitcoin for car purchases The business analytics company of MicroStrategy has just announced that it has bought an additional 271 Bitcoin worth $15 million at an average entry price of $55,387. With…

Read More

SEC Advises Caution When Investing in the Bitcoin Futures Markets

The SEC has issued a statement advising investors to be cautious when trading Bitcoin futures The statement went on to describe Bitcoin as being highly speculative The SEC believes that the Bitcoin futures market should be pursued only by mutual funds The advisory by the SEC could be a precursor to rejecting pending Bitcoin ETF applications The US Securities and Exchange Commission has issued a statement advising investors to take caution when investing in the Bitcoin futures market. The statement was issued by the Division of Investment Management (I.M) staff…

Read More

Bitcoin’s $53k is the Most Significant On-Chain Support Since $11k

Bitcoin at $53k is the most significant on-chain support since $11k At the $53k price zone, Bitcoin maintains a $1 Trillion market cap Bitcoin miners have returned to accumulating BTC Bitcoin held by OTC desks has been dropping and confirms demand by large buyers The team at Glassnode has released their weekly On-Chain report. In this week’s edition, they highlight BTC’s $53,475 price as being an area to watch since it maintains Bitcoin’s market capitalization above $1 Trillion. Additionally, this price zone is the most significant on-chain support since $11k…

Read More

Coinmarketcap is Now Tracking Bitcoin’s Smallest Unit, Satoshi (SATS)

Coinmarketcap has listed Bitcoin’s smallest unit known as Satoshi One Satoshi(SATS) is the equivalent of 0.00000001 BTC Mike Novogratz believes it is time to switch to Satoshi (SATS) as the price of Bitcoin looks ‘too expensive’ for some investors According to Glassnode, sat stackers or holders of less than 1 BTC, now own 5.25% of Bitcoin’s circulating supply The crypto tracking website of Coinmarketcap has listed Bitcoin’s smallest unit of Satoshi (SATS). Satoshi (SATS) is currently ranked 4,988 on the tracking website with a value of $0.0005846 or 0.00000001 BTC…

Read More

Bitcoin is Ready for Another Leg Up as Exchange Outflows Increase

Bitcoin could be gearing up for another leg up due to investors and traders moving their BTC out of exchanges Less Bitcoin is stored on Coinbase than during the 2017 bull cycle According to Bloomberg, Bitcoin is in the early days of adoption and primed for further growth Bitcoin could be gearing up for another bullish move based on the amount of BTC leaving crypto exchanges. The potential for such a scenario was highlighted by the CEO of CryptoQuant, Ki Young Ju, who also explained that the outflow of Bitcoin…

Read More

Bitcoin Looks Set for a Jump Towards $100k – BTC S2F Model Creator

@100trillionUSD has forecasted that Bitcoin looks set for a jump towards $100k He cites his Bitcoin Stock-to-flow model which has a new orange dot From his chart, Bitcoin is currently in the middle of a bull-run with more room to grow In the short-term, $55k is the level to watch during tonight’s weekly close The creator of the Bitcoin stock-to-flow model, PlanB (@100trillionUSD), has forecasted that BTC is set for a jump towards $100k. According to his analysis, and using his BTC stock-to-flow cross-asset model, Bitcoin has printed a new…

Read More

Bitcoin Traders Yet to Show Confidence in BTC’s Recent Drive to $58k

Bitcoin closed the month of April at a value of $57,630 Bitcoin would push higher to a local peak of $58,458 – Binance rate BTC traders are not too convinced that the push to $58k is a bullish one Institutional investors are still accumulating Bitcoin BTC analyst, MagicPoopCannon, still believes Bitcoin could hit $80k – $90k Yesterday’s monthly close was a relief for Bitcoin as the King of Crypto ended the month of April at a value of $57,630. Moments later, Bitcoin would push higher to a local high of…

Read More

MicroStrategy May Increase or Sell its Bitcoin Holdings in the Future

MicroStrategy has released its Q1 financial report MicroStrategy has 91,579 Bitcoin on its balance sheet at an average entry of $24,311 The report goes on to explain that MicroStrategy may increase or reduce its BTC holdings in the future This statement comes after Tesla sold some of its Bitcoin for $272 million MicroStrategy has released its Q1 2021 financial report in which the company states that it now owns 91,579 Bitcoins at an average cost of $24,214 for each BTC. The company’s CEO, Michael Saylor, went on to explain that…

Read More