$100,000 Bitcoin (BTC) and $2,000 gold could greet 2022 as global markets face “deflationary forces,” says Bloomberg Intelligence. In a tweet on Dec. 9, Mick McGlone, a senior commodity strategist at Bloomberg’s research arm, forecast that next year would be good for both gold and BTC. “Positive ramifications” for Bitcoin thanks to deflation As inflation…
Read more
Bitcoin (BTC) kept $50,000 as a focus on Dec. 9 as consolidation on BTC/USD continued to avoid last week’s lows. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin “appears on track” Data from Cointelegraph Markets Pro and TradingView showed the pair acting within a small range around the $50,000 mark overnight, this yet to become firm…
Read more
Bitcoin (BTC) recovered from a dip below $50,000 on Dec. 8 as Wall St. trading opened on a fresh bullish note. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin market ditches “extreme fear” Data from Cointelegraph Markets Pro and TradingView captured a classic rally for BTC/USD on hourly timeframes, gaining $2,000 in a single one-hour candle. The…
Read more
Bitcoin (BTC) retained $50,000 as support overnight into Dec. 8 amid confidence that the 2021 bull market was not yet over. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Silver lining for BTC weekly Data from Cointelegraph Markets Pro and TradingView showed BTC/USD testing but failing to crack through $50,000 after reaching local highs of $51,990 on…
Read more
Bitcoin (BTC) attempted to crack $51,600 resistance throughout Dec. 7 as BTC/USD gained in line with an equities rebound. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin: “The trend is still up” Data from Cointelegraph Markets Pro and TradingView showed the largest cryptocurrency making repeated assaults on the $51,600 mark on Dec. 7. At the time…
Read more
Bitcoin (BTC) returning to $50,000 overnight inspired one of the largest wallets to buy the equivalent of $137 million more. Blockchain data from on-chain monitoring resource BitInfoCharts highlights how one entity “bought the dip” like no other. Someone “buys the dip” to the tune of $137 million After buying frequently since BTC/USD hit $69,000 all-time highs…
Read more
A Bitcoin (BTC) price metric, which made BTC “look seriously cheap” at $56,000, is now in rare oversold territory. In a tweet on Dec. 6, Philip Swift, creator of analytics platform LookIntoBitcoin, returned to potentially bullish signals coming from Bitcoin’s Advanced NVT Signal. Advanced NVT deflates in Bitcoin price rout Advanced NVT calculates whether Bitcoin…
Read more
Bitcoin (BTC) may spend “months” ranging between recent $42,000 lows and $53,000 and cause panic in the process, popular analysts warned on Dec. 6. Discussing the BTC price outlook on Twitter, Scott Melker, known as the Wolf of All Streets, said that ranging behavior could last well into 2022. Bitcoin price bottoms could sink still…
Read more
Bitcoin (BTC) whales may be planning to sell at short notice as BTC price action struggles around $47,000. In its daily QuickTake market updates on Dec. 5, on-chain analytics firm CryptoQuant warned that large volume movements on exchanges were increasing again. Data points to whales increasingly eager to sell Highlighting its exchange whale ratio metric,…
Read more
Bitcoin (BTC) starts a new week with traders still digesting the impact of the last — a major price drop that at one point saw $41,900. A modest recovery is now competing with some formidable resistance, the first of which is $50,000. As a sense of déjà vu pervades markets, analysts are coming to terms…
Read more