Tag: Bitcoins

Bitcoin’s sub-$40K range trading and mixed data reflect traders’ uncertainty

[ad_1] The phrase “hindsight is 20/20” is a perfect expression for financial markets because every price chart pattern and analysis is obvious after the movement has occurred. For example, traders playing the Feb. 28 pump that took Bitcoin (BTC) above $43,000 should have known that the price would face some resistance. Considering that the market had previously rejected at $44,500 on multiple instances, calling for a retest below $40,000 made perfect sense, right? Bitcoin/USD at Coinbase. Source: TradingView This is a common fallacy, known as “post hoc” in which one…

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How Is Bitcoin’s Price Affected By News

[ad_1] The price of any asset is always impacted by a combination of factors. Unlike traditional financial assets, bitcoin has historically had its own set of factors affecting its price. Do things look any different now? Let’s find out. Basic Factors: Supply And Demand Bitcoin’s price is heavily dependent on supply and demand fluctuations, just like other assets. However, contrary to measures of fiat money, bitcoin’s supply is always known and its hard cap is set at 21 million coins. The demand for bitcoin always sits at the top of…

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Understanding Bitcoin’s Energy Consumption – Bitcoin Magazine: Bitcoin News, Articles, Charts, and Guides

[ad_1] Watch This Episode On YouTube Listen To This Episode: On this episode of “Bitcoin Bottom Line,” host C.J. Wilson was joined by veteran and contributor to Bitcoin Magazine Mike Hobart. Wilson and Hobart share similar backgrounds in exercise, physiology and kinesiology. Hobart’s journey started in 2013 when he joined the military. He gave credit to the book, “Man’s Search For Meaning” by Viktor Frankl for opening himself up to finding purpose after being in a dark place. He studied exercise science while in school allowing him to now write articles…

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Global Uncertainty Is Bitcoin’s Opportunity

[ad_1] The below is from a recent edition of the Deep Dive, Bitcoin Magazine’s premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now. The Larger Macro Picture Last night, Dylan shared an extensive thread on Twitter covering the current macro picture across stocks, bonds and volatility in the market. In today’s Deep Dive, we’re expanding on some of those ideas and charts more in-depth as these are some of the more important market dynamics that…

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Bitcoin’s Hashrate Slides 15% in 10 Days, Price and Difficulty Puts Pressure on BTC Miners – Mining Bitcoin News

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[ad_1] The price of bitcoin has been on a long losing streak since November 10, 2021, when the leading crypto asset tapped an all-time high at $69K per unit. During the last two weeks, bitcoin has shed more than 19% in value, and the network’s hashrate has dropped from over 200 exahash per second (EH/s) to 174 EH/s losing roughly 15% in ten days. Civil Unrest in Kazakhstan Leads to Hashrate Loss Speculation, Kazakhstan’s Bitcoin Miners Say Issues Did Not Affect Them This week the civil unrest in Kazakhstan caused…

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Bitcoin’s Illiquid Supply Continues To Hit Multi-Years Highs

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[ad_1] The below is from a recent edition of the Deep Dive, Bitcoin Magazine’s premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now. Illiquid supply continues to hit multi-year highs, adding nearly 371,000 bitcoin since the deceleration in May. Even with the recent price drawdowns sparked from long liquidations and market sell-offs, illiquid supply continues to increase signaling that more long-term holders are adding bitcoin over the last few months. Bitcoin’s illiquid supply reaches an…

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90% of Bitcoin’s Supply Cap Has Been Issued, Miners Have 119 Years Left to Mine BTC – Bitcoin News

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[ad_1] On December 12, crypto advocates celebrated the fact that 90% of the 21 million bitcoins that will ever exist have been mined into circulation. Currently, Bitcoin’s inflation rate per annum is around 1.88%, which is lower than the central banks’ traditional 2% target reference. Furthermore, in 875 days, the network’s inflation rate is expected to drop to 1.1% after 19.98 million bitcoins have been mined. Programmatic Scarcity One benefit people enjoy about the Bitcoin network is that it is mathematical and predictable, in comparison to monetary systems issued by…

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Is excessive bullish optimism behind Bitcoin’s drop below $60K?

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[ad_1] Bitcoin (BTC) has a long history of forming local tops when events that are anticipated by the market occur. The recent Bitcoin exchange-traded fund (ETF) launch on Oct. 19 was no different and led to a 53% monthly rally to an all-time high at $67,000. Now that the price has briefly fallen below $60,000, investors are attempting to understand if the 10% correction was a healthy short-term profit taking or the end of the bull run. To determine this, traders need to analyze BTC’s previous price activity to evaluate…

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Privacy-focused altcoins soar after Bitcoin’s ETF news sparks a market-wide rally

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[ad_1] Traders and the market are showing extreme optimism on Oct. 15 after rumors and an assortment of documents suggest that the path toward a Bitcoin ETF approval has fewer obstacles lying ahead. Following the positive news, the price of Bitcoin (BTC) rallied to nearly $63,000 for the first time since April and multiple altcoins saw their prices book triple-digit gains. Top 7 coins with the highest 24-hour price change. Source: Cointelegraph Markets Pro Data from Cointelegraph Markets Pro and TradingView shows that the biggest gainers over the past 24-hours were…

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Study Findings Show 83.7% of Luno Users Are Bullish on Bitcoin’s Resurgence – Emerging Markets Bitcoin News

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[ad_1] About 83.7% of those surveyed by Luno in a recent study believe the price of bitcoin will rise significantly in the next few months. In fact, 59.4% of the more bullish respondents are expecting the leading crypto to rise to as much as $100,000. Bullish Beyond Bitcoin These are the findings of Luno’s Q3 Customer Sentiment Survey that was conducted between August 20 and September 20. A total of 1,870 customers of Luno cryptocurrency exchange from South Africa, Malaysia, Indonesia, and the U.K. participated in the study. Aside from…

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