Bitcoin ‘supercycle’ sets up Q4 BTC price top as illiquid supply hits all-time high

Bitcoin (BTC) is gearing up for a comeback which should lead it to repeat classic bull run years 2013 and 2017, analysts are arguing. As $42,400 local highs appeared on July 31, narratives around the market are flipping back to a bullish Bitcoin “supercycle.” Bulls come out for 2021 close Bitcoin has been busy repairing the impact of the China miner rout since mid May, but last week’s price advances were stronger than most anticipated Related: Bitcoin open interest mimics Q4 2020 as new report ‘cautiously optimistic’ on BTC rally Rather…

This classic trading pattern signaled that Bitcoin price had hit a top

Traders tend to focus too much on timing the right entry to a trade, but very few focus on developing a strategy for exiting positions. If one sells too early, sizable gains are left on the table and if the position is held for too long, the markets quickly snatch back the profits. Therefore, it is necessary to identify and close a trade as soon as the trend starts to reverse. One classical setup that is considered reliable in spotting a trend reversal is the head-and-shoulders (H&S) pattern. On the…

Coinbase and top execs face securities class action over Nasdaq listing

A Coinbase shareholder has filed a securities class action against Coinbase for allegedly misleading investors ahead of its public listing about the company’s financial state and resilience as a crypto trading platform. Filed by law firm Scott + Scott in California Northern District Court on Thursday, the class action names Coinbase shareholder Donald Ramsey as a plaintiff, both individually and on behalf of all other investors similarly situated.  Ramsey is pursuing his claims under the United States Securities Act and has presented evidence drawn from Coinbase’s regulatory filings with the…

Triple-digit gains make Dogecoin and Ethereum Classic the top performers of Q2

In early 2021 Bitcoin and Ether price was the center of attention as each asset seemed to hit a new all-time high every 24-hours and traders called for $100,000 BTC and $5,000 ETH. Fast forward to the present and both assets are still more than 40% down from their all-time highs and the bulls calling for unbelievable price targets are nowhere to be found.     A recent report from CoinMetrics reviewed the performance of Bitcoin and altcoins during Q2 2021 and the analysts found that even with the sharp May…

Will Bitcoin Bottom Or Top This December 2021?

Markets are cyclical, and move in a variety of patterns that can often give insight into what phase of a market cycle an asset like Bitcoin might be in. But could time also play an important factor as to when market cycles come to the climax? Evidence suggests that the crypto market is especially sensitive to market timing, and in the past December has marked a distinct top or bottom. If this evidence is correct, and a pattern is potentially valid, will Bitcoin price top or bottom at the end…

NFT sales top $2.5B in first half of 2021

Sales of nonfungible tokens (NFTs) have surged to record highs in the first half of 2021. There has been $2.5 billion in NFT sales in the first six months of this year according to DappRadar, a massive increase over the $13.7 million in sales for the same period in 2020. Citing stats from Dune Analytics, Reuters reported that June has been a record month for the OpenSea NFT marketplace with almost $150 million in sales. This is almost a thousand percent higher than the sales figure for all markets over…

FinCEN lists cryptocurrencies as top AML and CFT priorities

The United States’ Financial Crimes Enforcement Network will continue to closely follow the cryptocurrency industry as one of its top priorities for combating crimes like money laundering. FinCEN officially announced Thursday that “virtual currency considerations,” or operations involving cryptocurrencies like Bitcoin (BTC), will be among its top national priorities for countering terrorism financing and ensuring proper Anti-Money Laundering policies. “The establishment of these priorities is intended to assist all covered institutions in their efforts to meet their obligations” under related laws and regulations, the regulator said. FinCEN elaborated that it…