Bitcoin’s lower lows worry traders — But is the BTC bull market really in danger?

Bitcoin’s (BTC) price has seen massive gains in recent months as the price of Bitcoin accelerated from $11,000 to nearly $62,000. However, such impressive rallies also include relatively calm periods of price action.  These periods are consolidative and are needed for the market to find a new floor. In bull markets, bullish continuation is likely after these periods of ranging before another leg up can happen.  Currently, Bitcoin’s price seems to be in such a period just over a week after hitting all-time highs above $61,000.  $53K level has to…

Bitcoin’s new use case? A report card for how the US handles the dollar

Throughout the middle of March, many Americans received stimulus checks from the government, and while the payments — $1,400 for every U.S. citizen earning less than $80,000 annually — will be a blessing for millions in desperate economic straits as a result of the COVID-19 crisis, it has raised again the specter of inflation. And as with many other things, this too has a Bitcoin (BTC) angle. On March 15, Galaxy Digital CEO Mike Novogratz proposed on NBC’s Squawk Box a new role for Bitcoin in light of recent stimulus…

Bitcoin’s next move, Elon Musk’s promotion, the toilet paper NFT

Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week Bullishness for Bitcoin continues despite its struggle to reclaim $60,000 Bitcoin dazzled us all last Saturday with a dramatic surge to new all-time highs at $61,683.86. But the market spent little time in record territory, with a sharp pullback taking prices to lows of $53,555.03…

Bank of America claims it costs just $93 million to move Bitcoin’s price by 1%

The now infamous Bank of America research note slamming Bitcoin also contains research suggesting that it takes just $93 million worth of inflows to move Bitcoin’s price by one percent. “Bitcoin is extremely sensitive to increased dollar demand,” said the note authored by Bank of America strategist Francisco Blanch, featuring contributions from Philip Middleton and Savita Subramanian. The analysis found that it would take at least $2 billion worth of inflows to move the price of gold by a single percentile, while more than $2.25 billion would be needed to…

Want to be rich? Data and Bitcoin’s supply cap show you only need 0.01 BTC

Saving 0.01 Bitcoin (BTC) might cost only $5,000 today but according to the current global wealth distribution and the digital asset’s limited supply, 0.01 BTC just might be enough to make one a millionaire in the future. According to Credit Suisse’s “Global Wealth Report 2020“, there are 51.9 million individuals with a net worth surpassing $1 million. The index considers a person’s net worth, along with their financial and real estate assets, while al deducting their debts and liabilities. According to the report, the U.S. leads by a reasonably wide…

A little bit of history repeating? The numbers behind Bitcoin’s bull run

The idea of market cycles is widely accepted in finance. The most basic principle is that what goes up must come down. The underlying rationale is that investors will accumulate when prices are low, causing prices to rise. As the price reaches a peak, sell pressure will take over as holders seek to cash out, thereby pushing the price back down.  If you bought Bitcoin (BTC) in 2017 or earlier, this will sound eerily familiar. It essentially describes what happened during the last bull run when BTC hit a high…

Bitcoin’s price doubled in 75 days — How long until the next 100% leg up?

The price of Bitcoin has doubled in the past 75 days, prompting some analysts to question whether the market is approaching over-extension. However, historical analysis from Bitcoin monitoring team CaseBitcoin suggests the Bitcoin markets could accelerate further, noting that BTC’s “doubling time” — the time taken for price to increase by 100% — shrunk down to just 12 days just before the peak of the 2017 bull run. 3/ How low can it get? In 2017, the fastest doubling pace – 12 days – happened on December 7th, nine days…

Want to be rich? Bitcoin’s limited supply cap means you only need 0.01 BTC

In 10 years Bitcoin’s finite supply will be nearly exhausted, meaning holders might only need 0.01 BTC to become filthy rich. Saving 0.01 Bitcoin (BTC) might cost only $500 today but according to the current global wealth distribution and the digital asset’s limited supply, 0.01 BTC just might be enough to make one a millionaire in the future. According to Credit Suisse’s “Global Wealth Report 2020“, there are 51.9 million individuals with a net worth surpassing $1 million. The index considers a person’s net worth, along with their financial and…

Traders speculate that Bitcoin’s price may continue to trade sideways for now

Bitcoin’s price has declined in recent days. While it has rebounded from its weekly lows, the asset’s trajectory remains uncertain says CryptoWendyO, a crypto trader on Twitter.   “The daily timeframe is not looking great as we are having trouble sustaining $50K,” she told Cointelegraph on Friday. “I am feeling like we will get a run to $51.6[K].” She added: “From there I would be cautious as rejection could lead back to the $50K -$45K range. A break down there could be a swift wick to $42-38K with a glorious recovery.…

Bitcoin’s next top could be between $75K and $306K, Kraken research suggests

Analysis of Bitcoin (BTC) price action dating back to 2011 suggests the coin price could next top out somewhere between $75,000 and $306,000, research from Kraken shows. Based on one reading of a logarithmic growth curve that connects historical tops and bottoms, a coin price of $75,000 would signal Bitcoin’s entry into overbought territory, marking the end of its current bull run. “Based on previous cycles, Bitcoin could likely continue appreciating gradually in price before ultimately going parabolic and hitting resistance, which will signal the end of its fourth bull…