According to the stock-to-flow deflection chart, today, bitcoin is the most undervalued with respect to the last 10 years of its history. A similar situation occurred in the middle of the 2017 bull market. After which, the BTC price continued its exponential growth. Additionally, bitcoin is deviating from its 11-year uptrend line. The deviation reaches 36% negative. This gives an additional signal that the value of BTC is undervalued and also shows room for upside. The peaks of previous bull… Source link

Bitcoin traders and investors are still reeling from a steep sell-off that’s wiped around $1 trillion from the combined cryptocurrency market. The bitcoin price has crashed from almost $65,000 per bitcoin to under $40,000 despite a flood of positive bitcoin news in recent weeks—including Twitter TWTR chief executive Jack Dorsey teasing a bitcoin payments plan. Now, analysis of bitcoin trading data has suggested the bitcoin price could be hit by a so-called “short squeeze”—when… Source link

Ethereum Ethereum slid by 6.91% on Wednesday. Following a 1.51% fall on Tuesday, Ethereum ended the day at $2,367.73. A mixed start to the day saw Ethereum rise to a mid-morning intraday high $2,555.00 before hitting reverse. Falling short of the first major resistance level at $2,620, Ethereum slid to a late intraday low $2,351.01. Ethereum fell through the first major support level at $2,487 and the second major support level at $2,430 to end the day at sub-$2,400 levels. At the time of… Source link

Litecoin price is trying to breach the 50% Fibonacci retracement level at $171.27. If LTC shatters the said barrier, a 12% upswing could tag $202. Transactional data shows that underwater investors might hinder or halt this climb. Litecoin price has spent almost ten days under the midway point of its current range. At the time of writing, LTC is taking a jab at a critical resistance level, trying to head higher. A successful breach of the said supply barrier will likely trigger an… Source link

Retail investors and traders are not alone among the decentralized finance (DeFi) users flocking to Polygon, which is a protocol and a framework for building and connecting Ethereum-compatible blockchain networks, known as a “layer 2” network. An increasing number of institutions and large investors are also joining the Polygon throng, according to blockchain data. At the beginning of June, about 65% of daily stablecoin transaction volume on Polygon came from transactions with values… Source link

Elon Musk is once again messing with his favorite toy – the crypto market. Bitcoin has resumed its upwards curve which has been partly attributed to Musk saying Tesla will once again accept BTC as a payment method should miners use enough clean energy in their search for new bitcoins. The news sent BTC-related stocks higher, including shares of MicroStrategy (MSTR). Musk’s power is such that he might be able to move the crypto market with a single tweet but if he remains undecided about… Source link

Cryptocurrencies were mostly lower on Wednesday despite a brief 3% jump in bitcoin after the U.S. Federal Reserve maintained accommodative monetary policy. But the gains were short-lived as risk assets pulled back, with traders focusing on Fed officials’ revised projection for interest rate increases by the end of 2023 – sooner than what was anticipated in March. Latest Prices Bitcoin (BTC) $38577.3, -2.71% Ether (ETH) $2415.5, -4.05% S&P 500: 4223.76, -0.54% Gold: $1826.61, – 1.7% 10-year… Source link

Adriana Belotti is a “true believer” when it comes to bitcoin, and invests $100 into the volatile cryptocurrency each month . The Sydney-based tech consultant says it’s mainly because of her painful experiences growing up in Brazil in the 1980s, as it transitioned from military dictatorship to democracy. Key points: Cryptocurrencies were created as an alternative payment method to remove the middleman (banks) The price of bitcoin hit a record high ($US64,900) in April 2021 Many traders purchase… Source link

One of the better performing pairs of cryptos this year are two related tokens that are geared toward online content creators — Theta and Theta Fuel. Theta has soared almost 400% in 2021 while Theta Fuel is up an astounding 1,700%. Both run on a blockchain known as the Theta Network and allow PC users with un-utilized bandwidth to share video streams with others on the network The reward? They’re able to mine tokens. Theta has impressive backers from the digital media world, including… Source link

Litecoin (CCC:LTC-USD) is a cryptocurrency that’s starting to rebound. In fact, it’s now up by 33% as of Jun. 16. Currently at about $168, it has dropped significantly from its peak. However, there are good indications that Litecoin could rebound close to its former highs. Source: Shutterstock At one point, Litecoin was at a close as high as $386.45 — just over a month ago, on May 9. So, it is off over 56% from that price. But the crypto is actually up 17% from its low-point… Source link