btc price – Page 17 – BitcoTasks BLOG

8 Reasons Why The Bitcoin Bear Phase Is Just A ‘Boogeyman’: Fund Manager

July 10, 2024

While the Bitcoin price hasn’t reclaimed the crucial $60,000 level to reenter the previous 4-month trading range, Ikigai Asset Management Chief Investment Officer (CIO) Travis Kling thinks that the current bearish phase is not more than a “boogeyman.” Via X, Kling listed eight reasons to be bullish on Bitcoin. He stated: “NFA. I’m wrong often.…

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Bitcoin Loses Correlation With US Equities As Supply Challenges Mount

July 10, 2024

Bitcoin News

In recent months, the correlation between surging US equities and Bitcoin (BTC) has shown signs of collapse, as the cryptocurrency faces a combination of excess supply and weakened demand that has led to an over 20% price drop from June highs above $70,000 for the largest cryptocurrency on the market. Bitcoin Correlation With Nasdaq 100…

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83% Of All Bitcoin Holders Still In Profit Despite Drop Below $60,000

July 10, 2024

Bitcoin

Over the weekend, the Bitcoin price dropped below $60,000 amid rapid selling by major holders such as the German and US governments. This led to one of the largest drops seen for the pioneer cryptocurrency in the last two years, costing the market billions of dollars. However, despite this, Bitcoin holders are still seeing major…

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Bitcoin Crash: Here’s What The Data Says About Buying The Dip

July 9, 2024

Bitcoin

The on-chain analytics platform Santiment has provided useful insights for investors considering buying the Bitcoin dip. The platform suggested that the worst might not be over as the flagship crypto could still experience further dips from its current price range. To Buy Or Not To Buy The Bitcoin Dip? In an X (formerly Twitter) post,…

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If History Repeats, Bitcoin Price Could Crash 33% Again: Here’s Why

July 9, 2024

Bitcoin

The Bitcoin price is already down more than -22% since the mid-March high over $73,000. While BTC is currently stabilizing above $57,000 following the recent price crash, there could be even more downside ahead if history repeats, according to Jacob Canfield, a trading mentor at the Trading Mastery. Canfield’s latest analysis points to a potential…

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German Triggers Bitcoin Crash With Rapid Selling: Here’s How Much BTC They Have Left

July 9, 2024

Bitcoin

The price of immense pressure on the pioneer cryptocurrency amidst broader market volatility. German Government Initiates Massive BTC Sell-Off Bitcoin’s consistent price decline has been driven by multiple factors including outflows from Spot Bitcoin ETFs, unfavorable market conditions and Mt Gox’s BTC redistribution plans. Lately, the cryptocurrency’s price has been further pressured by the substantial…

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Massive Mt. Gox Bitcoin Shift Unlikely To Disrupt Prices, Says CryptoQuant CEO

July 9, 2024

Bitcoin News

Recent developments surrounding the repayment of creditors and investors of the defunct Bitcoin (BTC) exchange, Mt. Gox, have sparked concerns about potential effects on Bitcoin’s price. As the market retraced over 20% from its three-month high above $70,000, the movement of 47,000 BTC to repay creditors has raised questions about the market’s stability. However, industry…

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Legendary Trader Peter Brandt Says Bitcoin Could Crash To $44,000, Here’s Why

July 9, 2024

Bitcoin

to as low as $44,000. He predicted this could happen based on a technical indicator that paints a bearish outlook for the flagship crypto. Why Bitcoin Could Drop To $44,000 Brandt predicted in an X (formerly Twitter) post that Bitcoin could drop to as low as $44,000 if the flagship crypto has completed a double…

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Bitcoin Mining Difficulty Crashes 5% To Lowest Level In 3 Months, What Happens Next?

July 8, 2024

Bitcoin

Recent data shows that the Bitcoin mining difficulty is on the decline and has hit its lowest since May. This is significant considering what this could mean for the Bitcoin ecosystem, specifically Bitcoin’s price. Bitcoin Mining Difficulty Drops To 79.5 T Data from CoinWarz shows that Bitcoin mining difficulty has dropped to 79.5 T at…

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Bitcoin Starts July On A Bearish Note, Will CPI Data Change The Narrative This Week?

July 8, 2024

Bitcoin

The beginning of July has not been bullish for the Bitcoin and crypto market as earlier expected due to a number of events that have shaken the market. For example, the Spot Ethereum ETFs did not debut on July 2nd as expected, and the US and German governments have been reportedly selling large tranches of…

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Is Bitcoin Undervalued Now? Industry Expert Decodes The Market State

July 8, 2024

Bitcoin

On Saturday, Bitcoin experienced a robust rally, climbing above $58,250. Despite this upward movement, it was unable to sustain the momentum and close above the 200-day Exponential Moving Average (EMA). This led to the formation of a bearish engulfing candlestick pattern on Sunday, signaling potential downside momentum. Currently, Bitcoin is trading below $56,000, positioning it…

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