For the crypto faithful who have been in the space since 2017, the market moves over the past few days have caused flashbacks for some, stirring up long-repressed memories of Bitcoin’s (BTC) fall from $20,000 to $3,000 at what was the start of a long, two-year "crypto winter." The 50% plunge in Bitcoin's price from just shy of $60,000 on May 10 to a low of $30,000 during the worst part of the May 19 sell-off has prompted many to say the top is in for the 2021 bull market, but a recent article by Chainalysis chief economist Philip Gradwell …

Bitcoin bulls should brace for aggressive downside market corrections in the sessions ahead, especially as the benchmark cryptocurrency breaks below a critical support level. Dubbed the 20-week exponential moving average (EMA), the wave has historically served as a primary downside target for bulls to accumulate Bitcoin (BTC). For instance, the BTC/USD exchange rate maintained its bullish bias all across 2020 while trading above the 20-week EMA wave. It eventually closed the year up more than 400%. Similarly, the 20-week EMA wave supported massive bullish rallies in the April–June 2019 session. Meanwhile, the price floor overstayed its welcome in the 2015–2017 …

Elon Musk and COVID-19 have something in common: They have both panicked investors — at least once — into dumping their Bitcoin (BTC) holdings. The similarities notched up higher in the previous six days as Musk doubled down on his chaos-inducing perspective toward Bitcoin. The billionaire entrepreneur engaged in a Twitter spat with top cryptocurrency advocates over the weekend, including podcaster Peter McCormick, as he projected his favorite token, Dogecoin (DOGE), as superior to Bitcoin. Obnoxious threads like this make me want to go all in on Doge — Elon Musk (@elonmusk) May 16, 2021 At one point in time, …

Raoul Pal wants Bitcoin investors to mobilize their trades against Elon Musk. The macro investment strategist advised traders to either accumulate or preserve their Bitcoin (BTC) holdings just as the flagship cryptocurrency suffered massive declines over the weekend and at the beginning of this week. In retrospect, bulls came under pressure after Elon Musk started rattling the cryptocurrency market. On May 12, the billionaire entrepreneur reversed his company Tesla's decision to accept Bitcoin payments for its electric vehicles, citing environmental issues related to the Bitcoin mining industry. Nevertheless, he noted that Tesla would keep holding more than a billion dollars' …

Litecoin (LTC) prices surged by up to 35% to hit a one-year high against Bitcoin (BTC) this week, prompting analysts to predict an extended upside momentum for the remainder of the ongoing monthly session. The LTC/BTC exchange rate touched 6,358 sats during the Asia-Pacific trading hours. The pair later corrected to an intraday low of 5,776 sats ahead of the London opening bell as profit-taking sentiment grew near the sessional peaks. But according to data collected from Glassnode, the downside correction did little in offsetting Litecoin's growing bullish strength. The blockchain analytics firm noted a dramatic spike in the number …

Untied to any single government or country, Bitcoin is often labeled a store-of-value asset and a hedge against other areas of finance. HoweverNassim Taleb, a former risk analyst and author, thinks otherwise, however. In an interview with CNBC on Friday, after noting Bitcoin’s (BTC) similarity to a Ponzi scheme, Taleb said: “There’s no connection between inflation and the coin. None.” He added: “I mean, you can have hyperinflation and Bitcoin going to zero. There’s no link between them.” This is not the first time Taleb has expressed skepticism toward Bitcoin. Earlier this year, he mentioned selling off his BTC holdings, …

Bitcoin has just closed six consecutive monthly green candles for the first time since April 2013. Should history repeat, Bitcoin may enjoy further parabolic gains this year. In April 2013, Bitcoin closed at roughly $140 after posting six green monthly candles. While the markets would retrace to less than $100 over the next two months, Bitcoin would then surge 700% over the following six months and tag prices above $1,000 for the first time. Bitcoin posted a similar pattern in the lead up to its parabolic bull run in 2017, with the markets posting five consecutive green monthly candles heading …

Bitcoin (BTC) bulls finally mustered enough strength to push the top-ranked cryptocurrency through the $60,000 level and citing key on-chain metrics, analysts believe the bull run has a ways to go before reaching any considerable resistance. Since pushing back above $50,000 on March 9, every dip in Bitcoin price has been quickly purchased by institutional investors and the BTC balance of whales has also continued to grow over the past few months. What's next for Bitcoin price? A recent report from Ben Lilly, an analyst at Jarvis Labs, analyst Ben Lilly highlighted the “two steps forward, one step back” nature …

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 market cycle,” the report states. Analysis of historical price retracements …

One reason strategist and investment guru Lyn Alden isn't invested in Ether is she considers the Ethereum network an “unfinished product” when compared with Bitcoin. Alden’s economic analysis of Ethereum released today compares the smart contract network to the Concorde jet: functional as it has “a ton of smart developers working on it,” but unlikely to become an economically sustainable project in the long run. She ran down some of Ethereum’s main features as evidence of her assertion, calling the use-case of many decentralized apps “circular and speculative.” In addition, she said the network’s nodes are more likely to be …

After a historic day in which the headlines could hardly keep up with price action and Bitcoin set a new all-time high above $26,500, traders and analysts are now turning their attention towards what could be in store for the digital currency over the next five days as 2020 comes to a close. Historic candle While a 8-9% daily gain might be pittance compared to Bitcoin’s historical volatility — there was a 42% rally as recently as 2019 — as Messari founder Ryan Selkis pointed out, today’s rally featured only the second $2,300 candle in the digital currency’s history: Bitcoin’s …

Following cryptocurrency exchange Coinbase filing a draft registration for a public offering with the United States Securities and Exchange Commission yesterday, research company Messari has valued the company at $28 billion. Messari’s model examined the company’s various business segments, such as trading, custody and debit cards, to come to this figure. Coinbase is one of the biggest exchanges worldwide, with daily trading volumes of over $1 billion. Assets under custody have grown to $20 billion from $7 billion in 2019. A previous fundraising round in August 2017 saw Coinbase’s valuation break the $1 billion mark, gaining it unicorn status. The …