Bitcoin

Bitcoin price pulls back to $17,130 after a 3.3% drop. A continuation of the downswing is likely, until BTC reaches $16,500. Invalidation of the bullish thesis will occur on the breakdown of the $15,984 support level. Bitcoin price shows a clear start of a corrective wave in its journey to retest a critical hurdle. This pullback is necessary as it allows buyers to recuperate and kick-start a new leg-up. Bitcoin price sticks to the plan  Bitcoin price has rallied… Source link

After a whirlwind November for Bitcoin (BTC), certain on-chain and Bitcoin price metrics are suggesting that BTC’s bottom could occur in December. In Capriole Investments’ latest report, they provide analysis on Bitcoin finding the bottom. When taking into realized value, miner capitulation, mining electrical costs, downdraw and record hodler numbers, a BTC floor of $16,600 – $16,950 seems formed.  Here are five reasons why Edwards believes Bitcoin price is coming closer to a cycle… Source link

Bitcoin (BTC) and decentralized blockchains are “as strong as ever” in the wake of the FTX meltdown, ARK Invest says. In the latest edition of its monthly newsletter, “The Bitcoin Monthly,” the investment giant came out firmly bullish on BTC. ARK: FTX scandal may be “most damaging event” ever With BTC price volatility ebbing into December, the industry is still reeling from ongoing FTX contagion. As lawmakers only begin to get to grips with the events, when it comes to Bitcoin, ARK is… Source link

The three co-founders of Gridless at one of their mining sites in Kenya. Erik Hersman ACCRA, GHANA — Up until February, Janet Maingi didn’t think much about bitcoin. Born and raised in the Kenyan capital of Nairobi, Maingi had instead spent more than twenty years focused on trying to solve one of Africa’s biggest problems: connectivity. To that end, she spent more than 20 years working in operations in the telecom industry, in companies specializing in internet and wireless networks to cable… Source link

Bitcoin price extended its increase and tested the $17,500 resistance. BTC corrected gains, but it remains well supported above the $16,800 support. Bitcoin extended its upward move above $17,100 and $17,300 resistance levels. The price is trading near $17,000 and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $17,050 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair must stay above the $16,800 support to… Source link

Dec 6 (Reuters) – “I’m nearly bankrupt,” says Jad Fawaz, a crypto trader in Abu Dhabi. “I’m laughing because there’s no point in exerting more depression and more frustration about it.” The 45-year-old, who quit his real-estate job a year ago to focus on trading, has seen his holdings evaporate in recent months. He hasn’t slept in a week because of the stress. “I had about 40 coins and then I came down to 20 coins then I came down to 10 coins, came down to five coins and now I’m down to the… Source link

Tim Draper, founder of Draper Associates, onstage at the Web Summit 2022 tech conference. Ben McShane | Sportsfile via Getty Images Venture capitalist Tim Draper thinks bitcoin will hit $250,000 a coin by the middle of 2023, even after a bruising year for the cryptocurrency marked by industry failures and sinking prices. Draper previously predicted that bitcoin would top $250,000 by the end of 2022, but in early November, at the Web Summit tech conference in Lisbon, he said it would take until… Source link

Alex Dovbnya It seems that widely used Hash Ribbon model has now failed for first time, with crypto winter shaping up to be extremely severe According to community-driven cryptocurrency analytics firm CryptoQuant, the popular Hash Ribbon model has now failed for the first time. The popular theory revolves around the assumption that Bitcoin tends to reach the bottom of a bearish cycle when miners capitulate. Image by @cryptoquant_com The capitulation phase arrives when it becomes… Source link

The U.S. economy added 263,000 jobs in November, more than expected. The unemployment rate remained the same at 3.7%. OANDA Senior Market Analyst of The Americas Edward Moya discussed the impact of the new economic report on crypto markets. Following the FTX crash, could regulation go too far? Tonya Evans, Penn State Dickinson Law professor, joined “First Mover” to discuss. Plus, CoinDesk’s Margaux Nijkerk explained why Dogechain is different from dogecoin. Source link

A seasoned hedge fund manager says that Bitcoin (BTC) will eventually replace gold, and predicts the king crypto will hit a six-figure price tag. In a new interview with Stansberry Research, veteran hedge fund manager Mark Yusko of Morgan Creek Digital predicts that China will be the home of the next world reserve currency, but that Bitcoin (BTC) will replace it sooner after. “There’s only one money in the world: gold. Everything else is credit, everything else is a currency…. Source link