Despite the market downturn and the widespread negative sentiment in the industry in the wake of the FTX collapse, on-chain data still show reasons to be bullish on Bitcoin. As pointed out by on-chain analyst Will Clemente, it’s enough to look at the long-term holders’s Bitcoin positions: they reached an all-time high despite their profitability being at an all-time low. “Long-term holders buy heavily into the bear market. They set the floor[...] and then those long-term holders distribute their holdings to new market participants in the bull market”, he told Cointelegraph in an exclusive interview. Another positive trend worth noticing …

The "Bitcoin-is-dead" gang is back and at it again. The fall of the FTX cryptocurrency exchange has resurrected these infamous critics that are once again blaming a robbery on the money that was stolen, and not the robber. "We need regulation! Why did the government allow this to happen?" they scream. For instance, Chetan Bhagat, a renowned author from India, wrote a detailed "crypto" obituary, comparing the cryptocurrency sector to communism that promised decentralization but ended up with authoritarianism. Perhaps unsurprisingly, his column conveniently used a melting Bitcoin (BTC) logo as its featured image. Hi all, “Crypto is now dead: …

Bitcoin (BTC) and the rest of the crypto market have been in a bear market for almost a year. The top cryptocurrency has seen its market valuation plummet by more than $900 billion in the said period, with macro fundamentals suggesting more pain ahead. Another bear cycle produces more BTC hodlers But the duration of Bitcoin's bear market has coincided with a substantial rise in the percentage of BTC's total supply held by investors for at least six months to one year. Notably, the percentage of coins held for at least a year has risen from nearly 54% on Oct. …

Ethereum's native token, Ether (ETH), looks poised to log a major price rally versus its top rival, Bitcoin (BTC), in the days leading toward early 2023. Ether has a 61% chance of breaking out versus Bitcoin The bullish cues emerge primarily from a classic technical setup dubbed the "cup-and-handle" pattern. It forms when the price undergoes a U-shaped recovery (cup) followed by a slight downward shift (handle) — all while maintaining a common resistance level (neckline). Traditional analysts perceive the cup-and-handle as a bullish setup, with veteran Tom Bulkowski noting that the pattern meets its profit target 61% of all …

Bitcoin (BTC) has been consolidating inside the $18,000-$20,000 price range since mid-June, pausing a strong bear market that began after the price peaked at $69,000 in November 2021. Many analysts have looked at Bitcoin's sideways trend as a sign of a potential market bottom, drawing comparisons from the cryptocurrency's previous bear markets that show similar price behaviors preceding sharp, bullish reversals. Here're three strikingly similar trends that preceded past market bottoms. 2018 BTC price sideways trend The 2018's Bitcoin bear market serves as a major cue for a potential market bottom in 2022 if one looks at its eerily similar …

The Bitcoin mining industry continues to face a challenging year as the price of Bitcoin (BTC) hovers below $20,000, coupled with rising energy costs in North America and Europe. Regulators have also recently started clamping down on crypto mining, as a recent report from the Bitcoin Mining Council (BMC) found that Bitcoin has seen a 41% increase in energy consumption year-on-year (YoY). As a result, a number of crypto mining companies have been forced to sell off equipment, while others have filed for bankruptcy. Yet, this hasn’t been the case for some miners, particularly those focused on clean energy solutions …

The public miners' share of the Bitcoin (BTC) network could grow to 40% by mid-2023, according to a new report by Hashrate Index. But this could bring more stress to an already bearish BTC market. Public Bitcoin miners' hash rate jumps 295% in a year The outlook appeared after assessing the hash rate performance of Core Scientific, Marathon Digital Holdings, Riot Blockchain, and other public miners in the last 12 months. Notably, these firms increased their hashing capacity to 58 EH/s in October 2022 from 15 EH/s a year ago — up 295%. In comparison, the private miners' Bitcoin hashrate …

On the other side, influencers, BTC maximalists and a range of other fanatical “shills” maintain its price could skyrocket to $80,000 and beyond. There is evidence to support both sides. One issue is that they may be looking at different time horizons. There’s a strong case to be made that BTC is likely to drop sharply in the months ahead but potentially rise in mid-to-late 2023. The case for a 2023 BTC price increase Bitcoin bull runs historically coincide with the four-year market cycle, which includes accumulation (buying), an uptrend, distribution (selling) and a downtrend. We would generally expect the …

An army of small Bitcoin (BTC) investors has been fighting with their larger counterparts for months to keep the price above $18,000. Bitcoin accumulation strong among fishes Notably, there has been some on-chain divergence between so-called whales (entities that hold more than 1,000 BTC) and fishes (entities that hold relatively smaller amounts of BTC) as Bitcoin continues to fluctuate inside the $18,000-$20,000 area. Bitcoin fishes have been accumulating BTC during the coin's sideways trend. For instance, the net Bitcoin supply held by addresses with 100-1,000 BTC balance has increased from 3.71 million in June to 3.77 million in October, according …

Bitcoin (BTC) and other riskier assets slipped on Friday as traders scrutinized macro indicators that suggest the Federal Reserve would continue to hike rates. Nonetheless, the BTC/USD pair remains rangebound inside the $18,000-$20,000 price range, showing a strong bias conflict in the market. BTC price holding above $18K since June Notably, BTC's price has been unable to diver deeper below $18,000 since it first tested the support level in June 2022. As a result, some analysts believe that the cryptocurrency is bottoming out, given it has already corrected by over 70% from its record high of $69,000, established almost a …

Bloomberg Intelligence senior commodity strategist Mike McGlone says Bitcoin's (BTC's) relative discount to its high hash rate in October — the largest since the first quarter of 2020 — could soon see Bitcoin return to "its propensity to outperform most assets." In an Oct. 19 Twitter post, the Bloomberg analyst suggested that Bitcoin's ever increasing hash rate — a measure of the processing power and securit of a blockchain — relative to its price points to "to risk/reward leaning favorably." Many believe that in theory Bitcoin's hash rate should go up relative to its price. McGlone pointed to a graph …

On this week’s The Market Report show, Cointelegraph’s resident experts discuss how much longer this crypto bear market could possibly last and when we could see some volatility back in the markets. To kick things off, we break down the latest news in the markets this week: Bitcoin price edges closer to $20K as ‘way worse’ US data boosts stocks A relief bounce on risk assets looks in store after Empire State Manufacturing Index numbers for October fall far short of expectations. The numbers fell to -9.1 for October, heavily below the forecast -4.3 and September’s -1.5 reading. Some industry …