Bitcoin
Bitcoin starts 2022 at $47.2K as fresh research pins performance on China trader exodus
Bitcoin (BTC) bears lost out at the last minute as 2021 came to an end — and consensus is building around China again being the reason for weakness. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView China “last hammer” could now provide optimism on BTC Hours before the yearly close, BTC/USD dived $2,000 to lows of $45,630 on Bitstamp before a modest recovery drew a line under 2021 at $47,200, data from Cointelegraph Markets Pro and TradingView shows. While something of an anticlimax and far below many popular projections, the lack of parabolic upside for Bitcoin has recently seen explanations shift to exchanges. Chinese users, following years of the government tightening the screws around crypto trading, had until Dec. 31 to leave the major Chinese exchanges, whi...
What’s ahead for crypto and blockchain in 2022? Experts answer, Part 1
Sandra is CEO of the Global Blockchain Business Council, an industry association for the blockchain technology ecosystem. “In 2022, it will be ‘corporate career risk’ to not have a baseline understanding of cryptocurrencies and blockchain technology. From bankers to corporate executives to politicians, it is imperative that they get on board and seriously consider the implications of blockchain. Further, 2022 winners will ‘expect the unexpected,’ and adapt to investing, servicing clients and participating in new trends. In 2021, few expected NFTs to become the killer app, driving mainstream interest and adoption. Web3, the Metaverse and DAOs will enter mainstream curiosity in 2022. The boring infrastructure stuff is critical. ...
Bitcoin holds $48K as final Wall Street session caps 60% YTD gains for BTC
Bitcoin (BTC) chipped away at its latest gains on Dec. 31 as the final trading session of 2021 opened on Wall St. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin posts 60% year-to-date gains Data from Cointelegraph Markets Pro and TradingView tracked BTC/USD as it meandered around the $48,000 mark, having reached multi-day highs of $48,550 hours earlier. The uptick had coincided with the December expiry on Bitcoin options, by far the biggest date on the options calendar at nearly $6 billion. Conspicuous buying was recorded on U.S. professional exchange Coinbase Pro in the run-up to the event. With stocks heading higher in Asia, all eyes were on the potential for a final flourish against a background of concern over inflation in 2022. The S&P 500 broke its ...
Price analysis 12/31: BTC, ETH, BNB, SOL, ADA, XRP, LUNA, AVAX, DOT, DOGE
Bitcoin (BTC) and most major altcoins are attempting a rebound off their respective support levels, indicating that buyers continue to accumulate on dips. Data from Coinglass shows that 9,925 Bitcoin left Coinbase Pro, the professional trading arm of Coinbase, on Dec. 30, a possible sign of institutional buying. This is in sharp contrast to the strong inflows seen in Binance and OKEx. Several analysts believe that institutional buying could pick up in January. Economist and trader Alex Krüger expects a Bitcoin rally in early January based on fund flows. He also highlighted that January has produced positive results for Bitcoin between 2018 and 2021, with gains ranging from 7% to 36%. Daily cryptocurrency market performance. Source: Coin360 While investors debate about the next possible dir...
Bitcoin price fell short of analysts’ $100K target, but what about 2022?
Bitcoin (BTC) is likely to end 2021 well below analysts’ target projections of $100,000. Kraken CEO Jesse Powell, who had also projected a $100,000 price target for Bitcoin, still remains bullish in the long term, but he does not rule out a sharp drop in the short term. One of the negatives that may add pressure to Bitcoin in the short term is the shift in the United States Federal Reserve’s monetary policy. On Dec. 15, the Fed announced that it would wind down its bond-buying program at a faster pace, and it also projected three interest rate hikes in 2022. Crypto market data daily view. Source: Coin360 Sam Stovall, chief investment strategist of CFRA Research, told CNBC that historically, the S&P 500 tends to post negative returns in the 12-month period when the Fed undert...
Bitcoin gains $1.5K in under an hour as BTC price erases days of downtrend
Bitcoin (BTC) put in an early end-of-year flourish on Dec. 31 as an upward boost saw BTC/USD retake $48,000. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Options expiry fades Data from Cointelegraph Markets Pro and TradingView showed BTC/USD abruptly gaining over $1,500 in a single hour on Friday. A refreshing counterpoint to several days of downtrend, the move gave a taste of what could happen in a crypto market where liquidity is thinner than normal over the holiday period. Futures + option expiry — IamNomad (@IamNomad) December 31, 2021 December’s Bitcoin options expiry event, worth almost $6 billion, could have provided the snap relief, traders argued, this traditionally pressuring BTC price action beforehand. A survey by the Bitcoin Twitter account earlier in Decem...
Former Block.one strategist believes Bitcoin will reach $200k next year
His projection is similar to that laid out by Fundstrat Global Advisors co-founder at the end of last week Block.one ex-Chief Strategist Officer Brock Pierce has predicted the price of Bitcoin to rise to $200,000 at some point in 2021. Justifying his projection, the former child actor explained that the economic situation i.e. the growing inflation would propel the flagship cryptocurrency into the five-digit zone. Bitcoin surged to a 7-day high just shy of $52,000 on Monday but has since been on a downtrend. The recent dip places the coin 31.75% below its all-time high recorded in November. It’s unlikely Bitcoin price will reach his initial predicted price figure In an interview with Fox Business, he acknowledged that his previous prediction of $100,000 before the end of the yea...
Bitcoin gains after $46K drop as ‘bottoming out’ continues into 2022
Bitcoin (BTC) recovered from fresh lows on Dec. 30 as markets remained undecided on their end-of-year trajectory. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView $46,000 may not mark floor Data from Cointelegraph Markets Pro and TradingView showed BTC/USD bouncing to $47,731 on Bitstamp, reversing almost all of the previous day’s losses. Prior to the Wall St. open, the pair was still above the $47,000 mark, as traders nonetheless warned that choppy BTC price action was not yet over. “Pretty boring markets lately. Just a process of bottoming out for Bitcoin,” Cointelegraph contributor Michaël van de Poppe summarized. “We’re retesting $46K as support, bounced, but we might need to take the liquidity beneath the lows before we’re going to make s...
Price analysis 12/29: BTC, ETH, BNB, SOL, ADA, XRP, LUNA, AVAX, DOT, DOGE
The S&P 500 is trading near its all-time high but Bitcoin (BTC) has plunged about 30% from its all-time high at $69,000. Even after the sharp drop, Bitcoin is up 63%, year-to-date, outperforming the S&P 500, which is up about 30% in 2021. Gold, which is popular as a hedge against inflation, is down roughly 7% this year. Arcane research said in its report that Bitcoin’s outperformance in the high inflationary environment shows that “Bitcoin has proven itself to be an excellent inflation hedge.” Daily cryptocurrency market performance. Source: Coin360 Real Vision CEO Raoul Pal said in an interview with Vlad from The Stakeborg Talks that the recent selling in Bitcoin may have been due to institutional investors booking profits but he believes the selling may be coming to an end. Howev...
What BTC price slump? Bitcoin outperforms stocks and gold for 3rd year in a row
Bitcoin (BTC) may be down over 30% from its record high of $69,000, but it has emerged as one of the best-performing financial assets in 2021. BTC has bested the United States benchmark index the S&P 500 and gold. Arcane Research noted in its new report that Bitcoin’s year-to-date performance came out to be nearly 73%. In comparison, the S&P 500 index surged 28%, and gold dropped by 7% in the same period, which marks the third consecutive year that Bitcoin has outperformed the two. Bitcoin vs. S&P 500 vs. gold in 2021. Source: Arcane Research, TradingView At the core of Bitcoin’s extremely bullish performance was higher inflation. The U.S. consumer price index (CPI) logged its largest 12-month increase in four decades this November. “Most economists didn’t see the hig...
Bitcoin dips below $47K but one trader is eyeing ‘solid risk/reward’ for longing BTC now
Bitcoin (BTC) added to its losses on Dec. 29 with a fresh tumble briefly taking BTC/USD below $46,600. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView RSI flashes “oversold” Data from Cointelegraph Markets Pro and TradingView showed the pair giving up ground prior to the Wall St. open to increase its 48-hour correction to 10.4%. The latest move in a familiar pattern of behavior, the market showed that the range in which Bitcoin has acted in December remains very much in play. As market participants resigned themselves to a lackluster end to the year, popular trader and analyst Scott Melker noticed a possible buying opportunity at current levels on short timeframes. Bitcoin’s relative strength index (RSI), in addition to other bullish signals, had entered...
Cardano and Ripple tokens will crash out of the top 10 chart in 2022: Arcane Research
The blockchain research firm also predicts Bitcoin to continue recording better returns than the S&P 500 index in the incoming year Crypto market analytics company Arcane has laid out its 2022 predictions for various digital assets and the industry at large. The research firm compiled a report highlighting numerous predictions around various aspects, including token prices, regulations, and the performance of different crypto coins. Most notably, Arcane crowned Binance coin as the winner of 2021, explaining that it crushed both Ethereum and Bitcoin in returns. Here’s a look at the other major predictions: The fate of Ripple (XRP) and Cardano (ADA) According to the research firm, the two alts will slip and lose their spot among the top 10 coins by market cap next year. Arcane note...
